By Christian Abbott
More than 23 MILLION drivers think they may be due compensation for mis-sold car loans, a UK poll has found. The s urvey comes before supreme court decision on secret commission payments ruled unlawful by court of appeal. The survey, conducted for the consumer law firm Slater and Gordon, found that 45 per cent of people think they might be entitled to a payout over a car finance plan taken out between 2007 and 2021. Of the 4,000 people surveyed, 45 per cent believed they were likely to be eligible for money back, which equates to more than 23 million adults across the UK. 40 per cent said they would consider a legal challenge if dissatisfied with the outcome of their claim. READ MORE Next UK heatwave set to be ‘even hotter than expected’ and will start within days n October 2024, the Court of Appeal held that, among other things, a commission payment from a finance company to a motor dealer, where the consumer was given insufficient information about this arrangement, was unlawful. The Court of Appeal also controversially held that in certain circumstances, a motor dealer acting as broker owed both a disinterested and a fiduciary duty to consumers. The judgment was appealed to the Supreme Court, which heard the appeal in April, and is due to hand down its judgment in July. after newsletter promotion The chief operating officer of Slater and Gordon, Elizabeth Comley, said the public rightly expected to be compensated for their losses. 鈥淭he FCA is trying put things right, but there鈥檚 a risk that a redress scheme leaves many people disappointed and keen to challenge the process,鈥 she said. 鈥淭hat sort of backlash would be bad for everyone 鈥 the scandal would drag on for years, the courts would be inundated with challenges and the public would be denied the clear resolution they want.鈥 The FCA will confirm whether it will proceed with a redress scheme within six weeks of the Supreme Court鈥檚 decision. If it decides to go ahead, it may run a shorter consultation on the proposed scheme. It is unlikely that the scheme will be operational before 2026.