PCF Bank Enters Voluntary Liquidation After Ceasing Trading
PCF Bank Limited and its subsidiaries, PCF Credit Limited and Azule Limited, have plunged into creditors’ voluntary liquidation. The joint liquidators heading the process are Peter Dickens and Edward Macnamara from PricewaterhouseCoopers (PwC).
PCF Bank Stopped Trading Back in 2021
PCF Bank called time on its operations in 2021, beginning a full wind-down. By then, all customer deposits had been fully returned, leaving no loose ends on that front.
Loan Portfolios Passed On, But Car Loan Overcharging Claims Emerge
Between 2021 and 2023, PCF Bank offloaded its loan portfolios to other firms. However, a number of customers have since flagged potential overcharging on car loans. Important to note: these loans aren’t covered by the Financial Services Compensation Scheme (FSCS).
What To Do If You Suspect You’ve Been Overcharged
Joint liquidators PwC will soon reveal how they plan to handle complaints about car loan overcharges. If you think you’re a victim, your first port of call should be your broker or car dealer for help and guidance.
