Car finance redress
Claiming if Your Car Finance Lender Has Gone Bust
Independent and free. We're not a claims firm — here's what happens if your lender has gone.
Redress estimate
Any figures here are an estimate, not a promise, and nothing on this page is financial or legal advice. You can claim free yourself — you don't need a claims firm.
You may still be able to claim even if your car finance lender has gone out of business, but the route changes. Depending on what happened to the firm, your complaint may go to an administrator or to the Financial Services Compensation Scheme (FSCS).
Any figure you see is an estimate, not a promise — nobody is guaranteed a payout, and the amount depends on your own agreement. It's still free to pursue, and you don't need a claims firm. Start by checking your position with the compensation estimator.
Can you claim if the lender has gone bust?
Possibly — a lender closing doesn't automatically wipe out a valid claim, but where you send it depends on the firm's status. The first step is finding out what happened to the lender.
Some firms are bought by another company that takes on their obligations; some go into administration; some are covered by a compensation scheme. Each has a different route.
Where your claim goes
Your claim follows the firm: to a successor company, an administrator, or the FSCS. Which one applies depends on how the lender wound down.
If you're not sure which applies, how to find your lender is a useful starting point.
- Bought by another firm: complain to the company that now owns the book.
- In administration: the administrators handle claims as creditors — there may be limits.
- Covered by the FSCS: the Financial Services Compensation Scheme may step in for some regulated claims.
How to start
Find out the firm's current status, then send your complaint to the right place — for free. The basics of your case don't change.
- Identify the lender and check whether it still trades, was bought, or has gone into administration.
- Send your complaint to the successor firm, administrator or FSCS as appropriate, using our letter template as a base.
- If a regulated route applies, the Financial Ombudsman Service or FSCS may be able to help — for free.
Estimate your position
Even with a closed lender, it's worth a free estimate before you start.
Try the compensation estimator, and read how to claim. Claiming is free and you can do it yourself: complain to your lender first, then escalate to the Financial Ombudsman Service. You do not need a claims-management company taking a cut.
Frequently asked
Can I claim if my car finance lender has gone bust?
Where does my claim go if the lender has closed?
Is it still free to claim?
Will I definitely get paid if the lender is gone?
Work out your next step
Independent calculators — pick the one that fits your situation.