EXAMPLES OF FEES
We recover you £1,500.00 from your bank.
Our fees on this would be £360.00 (1,500 x 20% = £300 + VAT (£60) = Total £360.00
- Please note that your bank may uphold other mis-sold PPI that you may have purchased as a result of our approach to them. If this is the case, we will deal with these cases on your behalf and the same charge of 20% + VAT will apply.
- If you owe us fees on any complaint that we have pursued on your behalf we reserve the right to offset any redress you receive against your debt to us, regardless of whether redress related to another complaint we have pursued for you.
- If your claim is upheld, your lender will normally include 8% statutory interest as part of the refund calculation. Please be advised that this payment is subject to income tax. In the majority of cases this is deducted at source from the refund and forwarded to HMRC (at basic rate tax). Should your refund be payable “gross” it is your duty to inform HMRC.
I AM CLAIMING ON A CREDIT CARD
If the credit card we have complained about remains open with an outstanding balance, there is a possibility that your redress will be utilised to reduce your balance.
Whilst this is not usually the case we must remind you that our fees are due from any financial benefit received. We therefore expect to receive 20% + VAT of the amount by which your debt has been reduced.
EXAMPLE OF FEES
- Refund of premiums: £200
- Reduction of card balance: £300
- Total amount recovered: £500
Our fees on this matter would be £100 + VAT (£20.00) = £120.00
MY LOAN IS STILL IN FORCE
If you are still paying the loan, your settlement will be calculated as follows:
You will be refunded all of the premiums you have paid into your policy to date, along with the interest that you have incurred and, in the majority of cases further interest of 8% on this figure.
EXAMPLE OF FEES
- Refund of premiums: £1,500
- Reduction of loan balance: £500
- Total amount recovered: £2,000
Our fees on this matter would be £480.00 (2,000 x 20%=£400+VAT @20%=£80)= £480.00