Arcanum Limited t/a Able 2 Buy and Brighter Loans
What this means for you
Because Arcanum Limited t/a Able 2 Buy and Brighter Loans has been declared in default, you can't complain via the Financial Ombudsman Service in the normal way. Instead, eligible customers can apply to the Financial Services Compensation Scheme for compensation.
Background
Arcanum Limited, which operated under the trading names Able 2 Buy and Brighter Loans (FRN 312576), was declared in default by the Financial Services Compensation Scheme on 10 February 2010. The firm's specific product offerings are not documented in available records. Eligible customers may be entitled to FSCS compensation of up to £85,000 for deposits, investments, or mortgages, or 90 per cent of losses for insurance products without a fixed limit, depending on the nature of products held.
Products this firm wrote
How to claim
- Check you were a customer of this firm during the period it was regulated.
- Gather your policy / advice / contract paperwork — start with anything you have in writing.
- Identify your loss and the date it crystallised.
- Apply via the FSCS online claim portal at claims.fscs.org.uk.
- The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.