Don't Delay Your PCP Claim: Critical Deadlines & Why Acting Now Matters for Your Compensation

Millions of consumers may be owed thousands in compensation due to potentially mis-sold Personal Contract Purchase (PCP) car finance agreements. If you suspect you’ve been affected, acting promptly is crucial. Missing key deadlines could mean forfeiting your right to compensation.

In this article, we’ll outline important deadlines, explain why acting now matters, and guide you through what steps to take next.

Why PCP Mis-selling Claims Are Time-Sensitive

When pursuing a PCP mis-selling claim, timing is everything. The Financial Ombudsman Service (FOS) and Court processes have strict timeframes for handling claims, and failure to act within these limits could close the door on receiving compensation.

Some key reasons why you should act quickly include:

• FCA Temporary Rules: The Financial Conduct Authority (FCA) has extended the deadline for providers to respond to complaints until 4 December 2025, particularly for claims involving discretionary commission arrangements (DCA).
• 15-Month Rule for Complaints to the Financial Ombudsman: Consumers typically have 15 months from their provider’s final response letter or by 29 July 2026 (whichever is later) to escalate complaints to the Financial Ombudsman.

What Happens If You Miss the Deadlines?

Failing to lodge your complaint or escalate it within the prescribed timeframes could result in:

• Losing Your Right to Compensation: Once the time limit expires, it’s unlikely you’ll be able to recover any owed amounts, even if your claim had merit.
• Increased Risks of Fraud or Error: As time passes, unscrupulous parties, including unregulated claims management companies, may exploit delays to mislead or overcharge consumers.

Steps to Take Right Now

If you have taken out car finance between 2007 and 2021 you could be eligible. It’s simple to check if you are unsure using Complex Law’s free and fast tool. Check if you are eligible in minutes:

Why Waiting Could Cost You

Delaying your claim not only reduces your chances of success but may also limit your right to full compensation. With an estimated £6 billion to £16 billion in potential redress at stake across the industry, acting swiftly could ensure you reclaim what’s rightfully yours.

Moreover, the FCA’s ongoing review and the outcome of Supreme Court rulings may result in further changes to the rules, presenting both opportunities and risks for delayed claims. Acting now ensures you’re ahead of any regulatory shifts.

Final Thoughts

If you believe you’ve been mis-sold a PCP agreement, the importance of acting quickly cannot be overstated. The longer you wait, the harder it becomes to substantiate your claim and secure compensation. With extended deadlines now in place, you have an opportunity to take action, but it won’t last forever.

To start your claim today and check your eligibility, click the button below and Complex Law will handle the rest for you.