Terms and Conditions – PPI

TERMS & CONDITIONS

If your lender(s) identify PPI was or may have been present on your product(s), we will contact you to confirm whether or not you wish to proceed with the PPI Claim process. If you decide to proceed further, we will send you a further Letter of Authority to sign and date and then submit what is known as a “Complaint Pack” to the lender(s). Upon return of that pack to us), you will be agreeing to our PPI claims terms & conditions detailed below. We will then submit your complaint pack to the lender(s) through our complaints process. If we’re unsuccessful in making a claim but feel there are sufficient grounds to dispute the outcome, your case may be submitted and escalated to the Financial Services Ombudsman (FOS) to help us fight your claim further and try and overturn the lender(s) initial decision. You will never be charged any fees for us submitting your claim to the Financial Services Ombudsman (FOS). We may ask you to complete a Financial Ombudsman Service consumer questionnaire and you will need to sign and return this form on receipt. You are required to complete this form within a reasonable time frame, suggested within 14 days.

Cooling Off Period

You have a 14 day cooling off period. This starts from the date you sign the terms and conditions on your claim pack. Our fee will not be charged if you decide to terminate this agreement prior to the Letter of Complaint being sent to the banks/lenders.If requested, we will acknowledge that the agreement has been terminated via e-mail. If you wish to cancel, please call, e-mail or speak to us using the contact details on our website.

How Far Back Can You Look Into Mis-sold PPI ?

PPI stopped being mis-sold in 2009. We will check all your products where possible which were taken out between the years 1985 – 2009.

PPI Check – How long does it take?

We usually receive responses from lenders within 5-6 weeks from the time we submit your FREE PPI check form to them.This will enable us to make subject access requests to lenders on your behalf. You are not liable for any costs, which may be incurred specifically relating to obtaining these documents. Some lenders can be quicker, and some can take up to 8 weeks to respond. From time to time some lenders may require further information to help locate your product, if this is the case we will contact you. If you don’t want to proceed to the complaint stage, then you are fully entitled to cancel the FREE PPI check before we submit and make a formal complaint on your behalf.

1. Definitions

1.1 In these Terms & Conditions the following definitions apply:

“Claim”: the Client’s complaint(s) and/or (but not limited to) claim(s) against the Company in respect of alleged mis-selling of Payment Protection Insurance (PPI) including (where appropriate) the application of unlawful interest and/or charges to the account(s) of the Client.

“Client” “You” and “Your”: You – the policy holder(s) /accountholder(s) whose details are set out in the Letter of Authority and who have appointed The Claims Experts Ltd trading as Impakt Claims to provide the Services.

“Company”: the financial institution and/or persons to whom the Letter of Authority is addressed being the Insurance Company, Bank, Building Society, Credit Card Company or Financial Adviser or any other entity which sold the PPI policy or gave the advice to the Client, or applied any unlawful fees, interest or charges (including for the avoidance of doubt any employee, director, agents, representatives and associates of those entities or any other entity and/or any of their successors or predecessors).

“Compensation”: any sums paid or awarded pre-deduction of income tax in respect of any Claim made by Us on Your behalf. This includes all non-monetary benefits in whatever form including (but not limited to) all benefits that will arise from any waiver, cancellation, reduction, saving, deduction or rescheduling of any outstanding or future credit facility, loan or interest payments or associated loans, Compensation, gesture of goodwill, refunds, discounts, any reduction in credit facility balances or loan outstanding and/or any interest or capital recovered including all associated or refinanced loans. Where such an offer is revised subsequently, then the revised amount shall be used in order to calculate the amount of the Compensation subject to You being still in contract.

“Fee”: Our Fee of 20% plus VAT of the gross Compensation awarded, set out more specifically in Clause 5.

“Letter of Authority”: the letter included in the claim pack to be sent to the Company from the Client authorising Us to act on behalf of the Client in respect of the particular Claim referred to or referenced in the letter.

“No Win No Fee”:unsuccessful claims will not incur any costs to customer. Only successful claims with compensation agreed by lender will become eligible for payment of fees. We do not require any payment in advance. Additional costs may apply in the instance of i) fee payment being withheld or ii) cancellation of agreement. Please refer to Clauses 6 and 7 for additional detail.

“Services”: the work which We will undertake on Your behalf in respect of Your Claim including assessing the viability of, preparing, submitting and negotiating your Claim and which is set out more specifically in Clause 3.

“During the claims process” We will need to make decisions on the best way to proceed and You give Your authority for Us to use Our skill and judgement to make such decisions on Your behalf including reaching a full and final settlement on your behalf where we judge that to be the most appropriate conclusion. You hereby waive any rights to challenge that settlement with US or with the lender at any time after payment has been made to you.

“Terms” and “Agreement“: these Terms and Conditions or any subsequent version of these Terms & Conditions.

“Us”, “We” and “Our”: The Claims Experts Limited trading as Impakt Claims, a limited company registered in England and Wales with number 11600861 having its registered office at Pioneer House, Pioneer Business Park, North Road, Ellesmere Port, CH65 1AD United Kingdom.

1.2 References to statutes or rules include references to any re-enactment or modification of those statutes or rules from time to time;

1.3 Headings and numbering do not form part of this Agreement and are for reference purposes only.

2. Duration:

This Agreement shall commence on the date you sign and return the Letter of Authority to us and, unless terminated earlier as per Clause 6 and/or 7 below, will continue until the earlier of:

I. Compensation is recovered for You by Us and You have paid Our Fee, or

II. We have advised You in writing that in Our opinion Your claim is unlikely to succeed and we are declining to act for You, or

III. You have paid any invoice generated by Us in full relating to a particular claim, or cancellation fee.

3. We agree to:

a) Review Your Claim application and assess the likelihood of Your claim being successful.

b) If after We have reviewed Your application, it is Our opinion that Your Claim is unlikely to be successful We may decline to act for You. We will notify You of this in via e-mail.

c) If We accept your Claim application, We will confirm this to You in writing and prepare and submit your Claim to the Company that sold you the PPI policy or financial product.

d) We will liaise with the Company and use reasonable endeavours to pursue Your Claim. This may involve the use of letters, statutory notices or other communication between Us and the Company and may, in some instances, also give rise to the Company contacting You directly.

e) We will notify You promptly of any requests for additional information or documentation that the Company has asked for in order to investigate Your claim.

f) Notify You in writing of any offers of Compensation made by the Company.

g) Obtain Your agreement before accepting or rejecting any offer or Compensation made by the Company.

h) Notify You of any circumstances beyond Our control which prevent Us from performing the services under this contract.

4. You agree to:

a) Appoint Us as your exclusive agent to handle Your Claim. This means that You cannot appoint another person or firm to act on your behalf in respect of this Claim, unless you terminate this agreement with us;

b) Provide full written authority to Us to deal with the Company on Your behalf;

c) Provide truthful and accurate information regarding your Claim;

d) Provide copies of all documentation that are in your possession and which relate to the Claim;

e) Respond promptly to requests by Us for further information, or documents that may be needed to progress Your Claim;

f) Pay Our Fee due as a result of a successful Claim, or where a cancellation fee has been charged;

g) Upon receipt of an invoice for the Fee, You will pay the amount due to Usas soon as you have received your Compensation;

h) When an offer for Compensation is obtained from the Company on Your behalf which in the reasonable opinion of Us is fair and reasonable having regard to the relevant circumstances and that offer is rejected by You, then we reserve the right to charge a fee equal to the amount of the Fee which would have been payable in the event that You accepted that offer in line with Our advice;

i) In some instances, the Company may contact You directly. This may include communication by letter, email, SMS and/or telephone. In some instances, You may also receive payment direct from the Company. In the event that You receive correspondence or communication from the Company, You agree to notify Us of such communication and forward to Us any correspondence You have received direct from the Company;

j) Retain a copy of Our Terms and Conditions for your own reference.

5. Fees – No Win No Fee

Our service is provided on a ‘No Win No Fee’ basis. Other fees may arise upon cancellation of this Agreement or on non-payment following successful claim.

a) Fee structure

Example of normal fee:
All claims are undertaken on a No Win No Fee basis. Our normal fee will be 20% + VAT of any compensation offered. This means, for example, if we succeed in obtaining Compensation of £1000. Our fees would be £200 + £40 VAT = £240. You would receive £760.

Example of fee with balance reduction:
Refund of PPI Fees £1500, Reduction of loan £400, Income tax deduction £100. Total amount recovered from lender = £2000. Our fee £480 (20% £400, VAT – £80). Total fees to us = £480.

Example of fee with arrears
Refund of PPI Fees,  £1000, Payment towards arrears £400, Income tax deduction £100, Total offer amount = £1500. Cash payment to you = £1000, our fee charged would be (20% + VAT = £300 Fees + £60 VAT) = Total fees to us = £360

b) We will not charge You any fees if the Claim is unsuccessful, subject to Clause 6(c) and 7 below.

c) Where we receive Compensation directly, we will issue You an invoice for the amount of Our fee and deduct the Fee directly from the Compensation.

d) If the Company does not pay the Compensation directly to Us, we will send you an invoice for an amount equal to our Fee on the gross Compensation awarded by the Company.

e) Our Fee must be paid as soon as You receive your Compensation or the benefit of the Compensation (for example, debt reduction). We have no control over when Compensation is paid following an Offer that has been Accepted by you. We will assume that You have received the compensation within 28 days after receipt of the offer or You shall inform Us so We can investigate.

f) We reserve the right to charge You for any reasonable costs incurred in seeking to recover Our Fee from You (such as, for example (but not limited to) tracing agents, process servers, credit reference agency fees, public register search fees, etc). A £100 + VAT (£120) admin charge will be applied for pre-legal collections activity. You consent to Us accessing and requesting information and reports from Credit Reference Agencies in respect of both your claim and any recovery action required.

6. How You Can Cancel This Agreement

a) You have 14 days from the date of signing the Letter of Authority to cancel Your authority for Us to act on Your behalf. Cancellation is without charge and You will have nothing to pay under this agreement. Cancellation must be notified to Us via reasonable means including either verbally, or in writing via registered post or by email. A ‘cooling-off’ Cancellation Form is included with the pre-contract information.

b) You can also cancel this Agreement at any time after the 14-day period. Cancellation can be notified to Us, or can arise as a result of a breach of Clause 4 by You.

c) If a Cancellation of this agreement occurs in accordance with Clause 6(b) above, We reserve the right to charge you a fee for the work undertaken on your behalf in good faith by Us. A reasonable Cancellation Fee may be applied either upon instructions to Cancel from You, or as a result of a breach on Your part of Clause 4, for the work undertaken in processing Your Claim up to the date of cancellation.An itemised bill detailing the regulated claims management services provided and how the fees have been calculated will be provided prior to request for any payment of these cancellation fees.

d) If at the time of cancellation outside of the 14-day period described above, we have received an offer of Compensation, which has been calculated in accordance with the rules of Financial Conduct Authority or the principles used by the Financial Ombudsman Service and which We recommend is accepted by You, we reserve the right to charge Our full Fee.

7. How We Can Cancel or Change This Agreement

a) We can cancel this Agreement by giving You 14 days’ notice in writing if any of the following events occur:

I. We become aware that Your Claim is unlikely to succeed.

II. You are declared bankrupt

III. You enter into an Individual Voluntary Arrangement with Your creditors or have a Bankruptcy petition presented against You.

IV. You do not follow any reasonable recommendationsmade by Us.

V. You provide information which You knew to be false or misleading in support of Your Claim and this information is material to the success of Your claim, e.g. if You have previously complained.

VI. You fail to respond to reasonable requests for information in a timely manner and this prevents Us from providing the Services.

b) Subject to the notice period in Clause 7(c) below, We may change these Terms & Conditions from time to time to reflect the increased cost of providing the service to You, and/or to reflect changes or predicted changes in legislation, taxation or regulation, or as a result of decisions made by the Financial Ombudsman Service.

c) If We cancel this Agreement in accordance with these terms and that cancellation takes effect after the initial 14 day period, We reserve the right to charge a You a fee to cover Our reasonable costs for the work undertaken in processing Your Claim up to the date of cancellation.

d) If at the time of cancellation described in Clause 7(a) above, the complaint has been upheld, we reserve the right to charge Our full Fee on the forthcoming Compensation.

e) If You have breached Your duties set out at Clause 4 We may cancel this Agreement.

f) If You accept an offer that We consider inadequate or reject an offer that We consider to be reasonable We may cancel the agreement and charge You a fee accordingly.

g) We will warn you if we intend to charge fees and how much they are likely to be.

8. Complaints about Us

You have the right to complain about Our service at any time.

Acknowledgement of a complaint will be made by a company complaint handler within five business days of receipt, providing name or job title within the business, together with details of the business’s internal complaints handling procedures.

No later than eight weeks after receipt of the complaint, the following will be sent to the complainant:

• a final response (which must inform the complainant that they can complain to the Legal Ombudsman along with the details and timescales for doing so), or

• a response which explains that the business is still not in a position to make a final response, reasons for the further delay and indicates when it expects to be able to provide a final response; and also inform the complainant that they can complain to the Legal Ombudsman along with the details and timescales for doing so.

If You are still unhappy after We have responded You have the right to refer the complaint to the Legal Ombudsman. Full details of Our Internal Complaint Procedure can be found at www.impaktclaims.co.uk. If You would like a copy sending to You please contact Us and We will arrange this.

9. General Conditions About This Agreement

9.1 This Agreement is governed by the law of England & Wales.

9.2 You cannot transfer, assign or replace Your rights and obligations under this Agreement but You can terminate the Agreement in accordance with Clause 6 above.

9.3 The Contracts (Rights of Third Parties) Act 1999 shall not apply to this Agreement

10. Regulation

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, Interim Permission Number 836692. Data Protection Registration number ZA477153.