What happens if the car finance company disagrees with the FOS decision on my mis-selling claim?
The Financial Ombudsman Service (FOS) decision is usually final, but there are a few things to consider if the car finance company doesn't agree:
Understanding the FOS Decision: The FOS will issue a final written decision outlining their findings and any redress they award you (such as compensation). Double-check the decision to ensure you understand what the FOS has ruled.
Negotiating with the Car Finance Company: While uncommon, in some cases, you may be able to negotiate a settlement with the car finance company. This could involve them accepting a portion of the FOS award.
Taking Legal Action: If negotiations fail and you strongly believe the FOS decision is fair, you can consider taking legal action against the car finance company. This can be a complex process, so it's advisable to seek legal advice from a solicitor specialising in financial matters.
Time Limits: There are strict time limits for taking legal action, so it's crucial to act promptly if you decide to go down this route.
Please Note: This information is for general guidance only and does not constitute legal advice. It's always best to consult with a qualified professional for specific circumstances.