Reclaim247, mis-sold car finance claims

Reclaim247 is a trading style of Claimsline Group Ltd, a claims management company registered in England and Wales. Its activity focuses on handling claims for allegedly mis-sold car finance, in particular PCP (Personal Contract Purchase) and HP (Hire Purchase) agreements taken out between April 2007 and November 2024.

The company presents itself as a specialist in this type of claim and states that it has helped more than 700,000 customers. It notes that it can locate finance agreements in around 60 seconds from the user's basic details.

What can be claimed

According to the company's information, PCP or HP agreements that included any of the following practices may be eligible for a claim:

Discretionary Commission Arrangements (DCAs): the dealer could increase the interest rate without informing the customer in order to obtain a higher commission.
Unfairly high commission: where the commission exceeded 35% of the total cost of credit and 10% of the amount borrowed, making the loan more expensive.
Contractually tied arrangements: where the dealer claimed to compare lenders but was tied to a single lender.

The company also indicates as possible signs of mis-selling an interest rate higher than necessary, commissions not disclosed to the customer and unclear or misleading contractual terms.

How the process works

Reclaim247's system connects with major credit reference agencies and vehicle registration databases to identify all finance agreements linked to a person, even if they have changed their name or address. The company states that it can recover historic agreements, some dating back before 2007, which are often difficult for individuals to locate.

Once the basic details are provided, the claim is passed to partner law firms, which review each agreement, gather evidence and negotiate directly with lenders. Reclaim247 stresses that the recommended solicitor is an independent professional and that the customer may choose another.

Lenders and scope of claims

The company handles claims against entities such as Black Horse Ltd, Volkswagen Financial Services (UK) Ltd, FirstRand Bank Ltd (London Branch), BMW Financial Services (GB) Ltd, Santander Consumer (UK) PLC, RCI Financial Services Ltd, Vauxhall Finance PLC, Close Brothers Ltd, PSA Finance UK Ltd, FCE Bank PLC, Mercedes-Benz Financial Services UK Ltd, CA Auto Finance UK Ltd, Clydesdale Financial Services Ltd, Blue Motor Finance Ltd, NIIB Group Ltd, Toyota Financial Services (UK) PLC, Moneybarn No. 1 Ltd, Hyundai Capital UK Ltd and Startline Motor Finance Ltd, among others. It indicates that agreements with entities not included in that list may also be claimable.

Where the lender has ceased trading, the company notes that the claim may be directed against the dealer or the intermediary that arranged the agreement.

Regulatory framework and alternatives

Claimsline Group Ltd is authorised and regulated by the Financial Conduct Authority (FCA) for regulated claims management activities, with FRN number 831196. The company reminds consumers that they can claim directly to their lender without using a claims management company and, if they are unhappy with the outcome, refer the matter to the Financial Ombudsman Service. It also mentions the FCA's future industry-wide motor finance redress scheme, currently subject to legal challenge, which according to the company delays the process and the timetable for possible payments.

Reclaim247 warns that it cannot guarantee that the compensation obtained will be higher than the customer would achieve by claiming on their own. The FCA estimates, as stated on the website, an average compensation of £829 per agreement, and the company calculates an average of two agreements per customer, which would give a total potential value of £1,658.

Corporate details

Reclaim247.co.uk is a trading style of Claimsline Group Ltd, a company registered in England and Wales with number 09071409. Its registered office is stated as C/O Burton Varley Ltd, The Counting House, 24 Richmond Road, Bowdon, Altrincham, England, WA14 2TT. The VAT number is 217654795 and it is registered with the Information Commissioner's Office under number ZA059156.

Location and contact

C/O Burton Varley Ltd, The Counting House, 24 Richmond Road, Bowdon, Altrincham, England, WA14 2TT

About Reclaim247