FSCS in-default register

Octagon Motor Company Ltd

Declared in default4 March 2020FRN 312053

What this means for you

Because Octagon Motor Company Ltd 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

Octagon Motor Company Ltd (FRN 312053), a UK-regulated financial services firm offering payment protection insurance claims services, was declared in default by the Financial Services Compensation Scheme on 4 March 2020. The firm had provided PPI-related financial products to consumers. Former customers of the firm may be entitled to FSCS compensation of up to 90% of their claim value with no upper limit, in accordance with insurance product protections.

Products this firm wrote

Ppi Claims

How to claim

  1. Check you were a customer of this firm during the period it was regulated.
  2. Gather your policy / advice / contract paperwork — start with anything you have in writing.
  3. Identify your loss and the date it crystallised.
  4. Apply via the FSCS online claim portal at claims.fscs.org.uk.
  5. The FSCS investigation typically takes 6–18 months. They will assess eligibility, liability and quantum.