Barings Law - CMC Profile

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Barings Law - CMC Profile

Last updated: 1 March 2026

Barings Law is one of the many claims management companies (CMCs) that specialise in handling car finance complaints on behalf of consumers. CMCs such as Barings Law submit these complaints to lenders, seeking compensation for clients who have been affected by unfair practices like discretionary commission arrangements (DCAs). These DCAs often result in overcharging consumers and are a significant concern within the car finance industry.

What is a Claims Management Company?

A claims management company (CMC) assists individuals in submitting complaints to their lenders. However, it's important to understand that you do not need such assistance from a CMC to complain about unfair practices. You can directly contact your lender and submit a complaint for free. The FCA motor finance scheme covers 12.1 million eligible agreements (FCA, March 2026) with an estimated £7.5 billion total redress (FCA estimate) for the period between 6 April 2007 and 1 November 2024. This significant amount of compensation highlights the importance of understanding your rights as a consumer.

Why You Do Not Need a Claims Management Company

One of the key points to remember is that you have the right to complain directly to your lender without any intermediary. CMCs typically charge 25-40% of any compensation received (plus VAT in some cases). For example, on an average £829 payout (FCA estimate), a CMC charging 30% would take £210, leaving you with only £490. By handling the complaint yourself, you can potentially keep more of your compensation.

How to Verify FCA Authorisation

Since April 2019, all claims management companies must be authorised by the Financial Conduct Authority (FCA) instead of being regulated by the Ministry of Justice. To ensure a CMC is legitimate and authorised by the FCA, you can check their status using the FCA Register at https://register.fca.org.uk/s/. Here’s how to do it: 1. Visit the FCA Register website: Go to https://register.fca.org.uk/s/. 2. Search for the company: Enter Barings Law or any other CMC name in the search bar. 3. Verify authorisation status: Check if the company is listed as authorised by the FCA.

Step-by-Step Complaint Process

To complain directly to your lender, follow these steps: 1. Gather evidence: Collect all relevant documentation such as loan agreements, correspondence, and payment records. 2. Write a complaint letter: Draft a formal letter outlining your concerns and the compensation you are seeking. Be sure to include all supporting documents. 3. Submit the complaint: Send the letter via recorded delivery or email for proof of submission. 4. Follow up: Keep track of any responses from your lender and ensure they address your concerns.

Conclusion

While companies like Barings Law can provide assistance in handling car finance complaints, it is important to know that you do not need a claims management company to seek compensation. By understanding the process and verifying FCA authorisation, you can make informed decisions about how best to protect your rights as a consumer.

Sources and References

Financial Conduct Authority (FCA), 2024
Financial Conduct Authority (FCA) Register: https://register.fca.org.uk/s/
"12.1 million eligible agreements (FCA, March 2026)" (FCA estimate)
"£7.5 billion total redress" (FCA estimate)
"£829 average per eligible agreement payout" (FCA estimate)

By staying informed and taking direct action, you can ensure that you receive the compensation you are entitled to without unnecessary fees or intermediaries.

Key FCA Figures

The FCA confirmed on 30 March 2026: 12.1 million eligible agreements, £829 average compensation per agreement, £7.5 billion total redress at 75% consumer uptake, and £9.1 billion total cost to firms. The scheme covers agreements from 6 April 2007 to 1 November 2024. Two deadlines apply: 30 June 2026 for post-2014 agreements and 31 August 2026 for pre-2014. Final complaint deadline: 31 August 2027.

You can complain to your lender directly for free. You do not need a claims management company.

--- MLJ.org.uk (mlj.org.uk) is a free, independent information service. We are not a claims management company, solicitor, law firm, or financial adviser. We do not handle complaints, process claims, charge fees, or accept any percentage of compensation. This information does not constitute legal or financial advice. You can complain to your lender directly for free. You do not need a claims management company. If your lender rejects your complaint, you can escalate to the Financial Ombudsman Service at no cost. For personalised legal or financial advice, consult a qualified professional.

Frequently Asked Questions

What is Barings Law's background in motor finance claims?

Barings Law is a Claims Management Company (CMC) authorised by the Financial Conduct Authority (FCA). They specialise in helping consumers recover compensation for mis-sold car finance products, including those affected by discretionary commission arrangements (DCA).

What fees does Barings Law charge for motor finance claims?

Barings Law, like other CMCs, typically charges a fee based on the amount of compensation recovered. The exact fee structure can vary and should be disclosed upfront to clients. It's important to understand that these fees can significantly reduce your compensation.

Can I complain about my car finance directly without using Barings Law?

Yes, you can complain directly to your lender for free. You do not need a claims management company like Barings Law to make a complaint. If your car finance agreement was mis-sold due to issues such as DCA, you have the right to raise this issue with your lender independently.

Is Barings Law authorised by the FCA?

Yes, Barings Law is authorised and regulated by the Financial Conduct Authority (FCA). This means they are registered on the FCA Register of Claims Management Companies and must comply with FCA rules and regulations. You can verify their authorisation status on the FCA's website.

Important: MLJ.org.uk is an independent information resource. We are not a claims management company, solicitor, law firm, or financial adviser. We do not process claims, take fees, or provide advice. Where the law gives you a right to complain or claim directly (to a lender, council, FOS, court, or regulator), you can do so without paying a third party. MLJ.org.uk is operated by Copious Ltd, registered in England and Wales, company number 11437826.