CLIENT CLAIMS INFORMATION
Impakt Claims are a Claims Management Company (CMC) regulated by the Financial Conduct Authority (FCA). Our role is to represent our customers in managing complaints for the mis-selling of financial products.
We manage complaints on behalf of people who feel they were mis-sold to and work to maximise the amount refunded to you. Impakt Claims manage complaints against the mis-selling of several finance products. For example, Payday Loans, Guarantor Loans and Large High-Cost Loans
Customers authorise us to act on their behalf in managing the claim by signing a letter of authority.
Depending on the information available to us, we will potentially request a Data Subject Access Request (DSAR) from your lender(s). Lenders are allowed 28 days in which to respond with the data requested.
We will review all information available to us and determine whether customers are eligible to claim. If the case is eligible, we then submit claims as letters of complaint to the relevant companies. We manage your claim across however many companies there are claims against.
Lenders have published timescales within which they are required to acknowledge and respond to complaints. Lenders are allowed 8 weeks in which to respond with a Final Response.
We engage with lenders to ensure they have the necessary information to progress your claim and that they respond within the stipulated timescales.
On receipt of an offer to settle the claim, we undertake an assessment to ensure it is fair and appropriate. Our team has significant experience in financial services and of dealing with lenders across the industry, enabling us to maximise the refund due to you.
We keep you informed of progress at each stage of the claim process with regular updates by e-mail and text. In addition, we have a team of fully trained, friendly staff who will assist in answering any queries you might have. We operate on a ‘no win no fee’ basis which means that if your claim is rejected, you pay nothing at all. That’s regardless of the amount of work that may have been undertaken on your behalf. If your claim is successful, our fees are taken as a percentage of the amount of refund we have successfully managed to claim on your behalf with VAT added. An illustration of our fees for a claim is shown below based on 3 differing refund amounts.
You are not required to use the services of Impakt Claims to pursue your claim. It is possible for you to present your claim for free either to the lender against whom you wish to complain or to the statutory ombudsman. Impakt Claims assess responses made by your lenders and will provide you with relevant information to make an informed decision regarding responses received. We aim to maximise your claim by working with lenders and the Financial Ombudsman Service to ensure fair treatment.
Examples of refund offers and fee structure*:
Scenario 1 – Lender offers balance write off
Where an offer of compensation is solely for write-off or balance reduction of an existing debt, there is NO FEE payable to us. E.g. Where a lender determines that you are due a refund of £750 but where you still have an outstanding balance greater than or equal to the £750 with them, they will apply the refund to that balance to reduce that.
Scenario 2 – Lender offers a cash refund
Our normal percentage fee will vary according to the level of refund we have been successful in obtaining, details of which are shown in the table below.
|Band||Redress||% Charge||Maximum charge (including VAT)|
|1||£1 – £1499||30% + VAT||£504|
|2||£1,500 – £9,999||28% + VAT||£3000|
|3||£10,000 – £24,999||25% + VAT||£6000|
|4||£25,000 – £49,999||20% + VAT||£9000|
|5||£50,000+||15% + VAT||£12,000|
*These figures above are shown for illustrative purposes only and not an indication or estimate of the amount that might be recovered. Depending on the value of your claim, your refund may be more or less than that shown in the examples above.
Scenario 3 – Lender offers a cash refund and a balance write off
If Compensation of £6000 is awarded but £3000 is used to reduce your outstanding balance with that lender, we will charge you either
– 75% of the cash amount you receive, inclusive of VAT, in this instance £2250 or
– 28% + VAT of the total refund, including the offset against an outstanding balance) which would equate to £2016 whichever is the lower amount.
In this instance, our fee would be £2016. You would then receive £984 – the £3000 cash refund minus our fee of £2016 whilst obviously benefitting from the large balance write-off as well.
Right to Cancel
During this process, you have a 14-day ‘cooling off’ period from the day that you sign this agreement in which to cancel it without incurring any charge. (After this point, please see our Terms and Conditions, clause 8). You can cancel your contract by any reasonable means including by ringing the telephone number 03300 165 808, by email at email@example.com or by post at our address Impakt Claims, Pioneer House, Pioneer Business Park, North Road, Ellesmere Port, CH65 1AD.
An example of some of the customer testimonials Impakt Claims have received to date are featured below:
“I need to thank you for your help when we spoke on the telephone today. Your friendly and responsive manner was typical of the way in which all your colleagues have dealt with my claims. I’ve found everyone at Impakt Claims to be extremely helpful, and always happy to answer any questions in a polite and business-like manner. I would not hesitate in recommending Impakt Claims to anyone who is looking to find a responsive and knowledgeable company to handle their financial claims.”
“To begin with I assumed them to be a bog standard claims management company that might/might not be good at getting claims addressed but I thought I would give it a go. I could not have been more wrong about them. Yes, they have successfully managed 3 claims to date returning over 3k in returned cash and written-off debt, but they have also advised a couple of other claims did not merit further chasing, they have been incredibly honest with me at all times and they have hugely impressed me with their integrity and fairness. They are very effective communicators, and they are always working hard in my best interest.”
“I cannot thank this company enough, I never thought for one moment that I would get anything back from the loan company, but I did and not only that it was a really good amount. They are such a friendly bunch of people and extremely professional too. I would highly recommend these to anyone, the whole experience was not only quick but also a pleasant experience. 5***”
Impakt Claims is a trading style of The Claims Experts Ltd. Registered address is Pioneer House, Pioneer Business Park, North Road, Ellesmere Port, CH65 1AD, United Kingdom (company number 11600861). Impakt Claims are authorised and regulated by the Financial Conduct Authority (FRN 836692). Data Protection Registration number ZA477153.