Swindon drivers in line for £10m pay out over mis-sold car finance
Courmacs Legal, a leading consumer rights law firm based in Blackburn, today responded to the UK Supreme Court's decision in Hopcraft, Johnson and Wrench.
Courmacs Legal is currently representing over 1.5 million car finance victims and is dealing with 4 million claims in relation to motor finance mis-selling and allegations associated with civil bribery and hidden commissions.
It has calculated how many claims it is handling from constituents living in the areas represented by each cabinet member.
And in South Swindon, the area represented by Heidi Alexander, there are 5,471 claims worth an estimated £10,903,924
Darren Smith, Managing Director of Courmacs Legal, said: "The Court has ruled on the position in relation to certain types of commission arrangements. It has not ruled on the position where a discretionary element was applied to the commission.
"It is even more important now that lenders make clear to customers the nature of their agreements, and whether they were discretionary.
"This still leaves many victims who will be entitled to redress, but the story does not end here.
"The next chapter will be in September when the Court of Appeal will be hearing a case relating to the way the Financial Services Ombudsman has dealt with discretionary commission arrangements.
The FCA have itself identified this case as being relevant to the actions they may take, so we call on the Government, the Regulators, the Lenders and their associations to allow the judicial process to be completed and to respect the rule of law before seeking to interfere in any way with the redress that these victims may be owed."
For more information, and to help you determine whether you are eligible to claim, visit: www.courmacslegal.co.uk
Courmacs Legal is dealing with claims across all the UK's 650 parliamentary constituencies, including the following car finance cases in Labour Cabinet members' constituencies:
Rachel Reeves (Chancellor of the Exchequer): 5,053 claims worth an estimated £10,080,735
Sir Keir Starmer (Prime Minister): 1,488 claims worth an estimated £3,794,771
Angela Rayner (Deputy Prime Minister): 6,483 claims worth an estimated £13,490,847
Shabana Mahmood (Justice): 3,245 claims worth an estimated £6,954,263
Heidi Alexander (Transport): 5,471 claims worth an estimated £10,903,924
Ed Miliband (Energy Security and Net Zero): 7,267 claims worth an estimated £15,588,308
Jonathan Reynolds (Business and Trade): 7,513 claims worth an estimated £16,148,462
John Healey (Defence): 6,806 claims worth an estimated £14,469,650
Ian Murray (Scotland): 3,497 claims worth an estimated £7,540,811
The case is financed by a third-party litigation funder and is fully insured. There is no cost to individuals taking part and no cost if the case is unsuccessful.
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