If your original finance company has gone into administration or ceased trading, you may still be able to pursue redress. Depending on the circumstances, this can be through the administrators handling the wind-down of the business.
In more detail
Does the process work the same as claiming against a lender that's still trading?
Not exactly. Claims involving a failed lender are often more complex, since they can be routed through insolvency practitioners rather than a straightforward complaint directly to the lender. It's worth getting specific advice on your situation rather than assuming the standard process applies.
Does this affect my eligibility under the FCA redress scheme?
The core question, whether your agreement was affected by a discretionary commission arrangement or other issue, remains the same. What changes is who is actually responsible for paying any redress, and how that process works in practice, given the lender no longer exists in its original form.
What if my finance was later transferred to a different company?
This is common when lenders merge, are acquired, or restructure. Responsibility for historic agreements often transfers to the new entity, but this depends on the specific circumstances of the transfer, so it's worth having this checked properly.