Check Finance

Scheme status (updated 5 August 2026): parts of the FCA motor finance redress scheme are temporarily suspended while the Upper Tribunal considers legal challenges. Lenders do not currently have to calculate or pay compensation under the scheme, the original decision and payment dates no longer apply, and no payment under the scheme is guaranteed. If the scheme proceeds, first payments are expected in 2027 at the earliest. Any dates mentioned below were set before the suspension. Letter – Is It Real?

Not sure whether the letter you’ve received is genuine or a scam? Thousands of UK drivers are being contacted about potential PCP and car finance mis-selling claims linked to undisclosed commission payments. Some letters are legitimate. Some aren’t. We’ll show you how to check finance safely, verify whether your letter is real, and find out if you’re owed compensation, without upfront fees or pressure.

Have you received a check finance letter in the post and immediately searched online to see if it’s genuine? You’re not alone.

Thousands of people across the UK are currently Googling:

• check finance
• check finance letter
• check finance letter scam

The reason? Letters are being sent to drivers about potential PCP and car finance mis-selling claims and many people are unsure whether they’re legitimate.

This page explains how to check finance properly, how to spot a real letter from a scam, and how to safely find out if you’re owed compensation.

Why Am I Receiving a Check Finance Letter?

If you’ve ever taken out:

• PCP (Personal Contract Purchase)
• HP (Hire Purchase)
• Car finance arranged by a dealership

… you may be eligible for compensation.

The issue centres around undisclosed commission arrangements paid to car dealers by lenders. The UK regulator, the Financial Conduct Authority (FCA), has been reviewing these practices and consulting on an industry-wide redress scheme.

As a result, legitimate firms are contacting consumers to encourage them to check finance agreements for potential mis-selling.

So yes many of these letters are real. But it’s smart to check first.

Check Finance Letter Scam – What to Look Out For

Signs a Check Finance Letter Is Legitimate

• Clear company name and registration number
• UK contact details
• No upfront fees
• You are not asked for bank details immediately
• The firm explains how they are regulated or partnered

🚩 Signs of a Scam

• Requests for upfront payment
• Urgent threats or pressure
• Poor spelling or vague details
• Requests for full banking login information
• No traceable company details

If in doubt, never click unknown links. Instead, go directly to a trusted claims platform yourself.

The Safest Way to Check Finance

Rather than relying on a letter alone, the safest option is to proactively check your finance history through a secure claims system.

At Claims Bible, our specialist partner network can:

• Locate past PCP and car finance agreements
• Identify undisclosed commission structures
• Check agreements going back to 2007
• Calculate potential compensation
• Handle the full claim process on your behalf

Many people don’t even remember which lender they used especially if the car was bought years ago. Our system is designed to trace historic borrowing accurately and securely.

How Much Could You Be Owed?

While every case is different, industry modelling suggests the average redress per agreement could be several hundred pounds. Your payout depends on:

• The size of the finance agreement
• The interest charged
• The commission structure used
• How long the agreement ran

Some drivers may be owed significantly more than the average. The only way to know is to check finance properly.

Why People Are Searching “Check Finance Letter Scam”

Search data shows a surge in people trying to verify letters they’ve received. That’s sensible. But instead of ignoring a genuine opportunity or risking a scam take control and check directly through a trusted route.

How to Check Finance Today

If you’ve had car finance in the past, you could be entitled to compensation even if:

• The agreement has ended
• You no longer own the vehicle
• You settled early
• You don’t have the paperwork

Our partner system will locate historic agreements and confirm eligibility for you.

No upfront fees. No obligation to proceed. Full support from start to finish.

Final Word: Don’t Ignore It But Don’t Get Caught Out

If you’ve received a check finance letter, it doesn’t automatically mean it’s a scam. It also doesn’t mean you should respond blindly.

The smart approach is simple: Use a secure, established claims route to check your finance independently.

That way, you protect yourself and you don’t miss out on money that could rightfully be yours.

Official Rulings on Car Finance Commission

The Financial Conduct Authority (FCA) and Financial Ombudsman Service have already ruled in cases involving undisclosed dealer commission. These decisions could affect thousands of PCP and HP agreements across the UK. See what the regulators have said and why it matters.

Think You May Have a Motor Finance Claim?

The FCA estimates average compensation of around £830 per eligible agreement, but eligibility and payment amounts vary. Some customers may receive nothing. Complaints about agreements started from 1 April 2014 should be submitted by 30 June 2026 to be considered under the earlier timetable. Different dates apply to older agreements. The scheme is currently subject to legal challenge, so dates and payment timings may change.