Please read carefully
Pre Contract Information – Payment Protection Insurance Claims
1. PPI Claims Overview
Fast Track Reclaim offer a comprehensive PPI claims service. We will check for PPI on all current and historical financial agreements and where this is identified, we will act on your behalf to claim redress on any mis-sold policies.
2. Do I qualify to start a PPI claim?
You qualify if you can answer ‘Yes’ to both the following 2 questions:
A. Do you think you have paid PPI or are simply unsure?
B. Is this the first time you have tried to claim back PPI on your agreements?
IVA/Debt Management Plans/Bankruptcy – important information
If you have a Debt Management Plan you may be able to proceed with a claim. We will talk you through the process, however, it is important to be aware that any compensation received may be used to pay your creditors, and you will still be liable to pay our fee. If you have ever been involved in an IVA, or declared bankrupt, we are not able to take on your case.
3. The Claims Process Explained
i) Complete the PPI Claim Pack:
We require you to complete and return all documents within the claim pack to us so we can proceed with your claim for mis-sold PPI;
- Our Terms and Conditions of business
- Letter of Authority (single and joint)
- Individual Letters of Authority x2
- Further Information Sheet (information detailing previous names and addresses to enable the lender/bank to complete full disclosure of PPI policies)
- Any documents you may hold relating to the sale of the PPI policy
Please note: if any of the accounts you wish to claim against are in joint names then throughout your claim we may need to speak to you and the other party. To begin a claim, you will need to provide the joint party’s signature. We cannot act as an intermediary between the two parties.
ii) identifying PPI: Upon receipt of your claim pack we will write to your lender and request the disclosure of any instances of PPI using our pre-submission agreement. The timescale for disclosure from the bank/lender may be up to 40 working days. In most instances you need only provide us with the name of your bank/lender to obtain full details of the PPI policies held historically with the bank/lender, however, sometimes we may need to gather further information from you to support your claim.
iii) PPI Identified: Upon confirmation of a PPI policy we will contact you to complete a PPI questionnaire. This will enable us to present a case to the bank/lender that the policy may have been mis-sold from on your behalf. We will send you the completed questionnaire for you to check, sign and return.
iv) Letter of Complaint Issued: Upon receipt of the signed PPI questionnaire, we will issue a bespoke letter of complaint to your bank/lender based upon the information gathered from you. The lender will acknowledge our complaint generally within 14-21 days, they then have 8 weeks to investigate the complaint as outlined by The FCA (Financial Conduct Authority). The bank/lender may contact you direct during this time to gather further information from you.
PPI Refunds and Our Fees: If the bank/lender upholds your claim, we will charge you our contingency fee of 30% plus VAT of the full refund amount. This is calculated before any applicable tax payment/deduction of which you are liable. This is further explained in section 3 of our Terms and Conditions. If the bank/lender does not uphold the claim, we will review their response with you and decide whether to pursue further with the lender, or in exceptional cases, with the Financial Ombudsman Service. In these cases, as we are pursuing the claim further on your behalf, our contingency fee will still apply should an uphold decision be reached. If we conclude that the claim cannot be progressed further, we will close it down at this stage.
4. Cooling Off Period & Cancellation
There is a 14 day cooling off period commencing from the date you sign the terms and conditions on your claim pack. A contingency fee will not be charged if you decide to terminate this agreement prior to the Letter of Complaint being sent to the bank/lender. Where FTR are instructed to do so they will acknowledge that the agreement has been terminated in writing. If you wish to cancel, please complete the relevant form, which can be found on our website at http://www.fasttrackreclaim.com/cancellation-form.
5. Financial Ombudsman Service
The Financial Ombudsman Service (FOS), is an independent, free service in the UK for settling disputes between businesses offering financial products and their customers. As well as gaining guidance from the FOS, you have the right to seek free independent advice elsewhere before committing to using our services. Should your claim be rejected by the bank/lender, you can independently refer your complaint to FOS. Please note, should your claim be successful, you would be liable to pay FTR fees.
i) How to make a complaint: Fast Track Reclaim strictly adhere to the Complaint Handling Rules 2015, set out by the Claims Management Regulator.
ii) Our commitment to you: At Fast Track Reclaim we constantly strive to provide a high standard of service, but there may be occasions when you, as our customer, are dissatisfied. We take all customer complaints seriously within our company, and want to hear your concerns in order to further improve our service in the future. This document outlines what you should do if you wish to make a complaint, and also our commitment to you.
iii) What you should do: You can make a complaint in writing- by letter, fax or email, or verbally over the telephone. You should explain the facts in a logical order and remember to provide our reference number to enable us to locate your details and look into your concerns as soon as possible. Our contact details are at the head of this document, or we can be emailed at firstname.lastname@example.org
iv) What we will do-
Investigation of your complaint:
Your complaint will immediately be assigned to a nominated investigator who will seek all relevant facts, and there may be a need for us to contact you at this point. They will also refer to any documentation held, and any relevant third parties, where appropriate.
We will acknowledge your complaint within 5 working days and provide contact details should you wish to communicate with us at any time during the investigation.
We then have 8 weeks from the date we receive your complaint to make our decision. If after 8 weeks, we have been unable to resolve your complaint, we will write to you providing an update on our progress, and let you know when we expect to be able to provide our final response. We will always try to reach a conclusion within the given timescales, but if we are unable to do this, perhaps due to the complexities of the case, we will write to you again at this point, providing details of the progress of our investigation. At this stage, you will be advised that if you are not satisfied with the progress made, you may refer the handling of your complaint to the Legal Ombudsman (details below).
If we conclude that you have been poorly advised, or suffered material loss or inconvenience, we will make proposals to put things right for you. If this is not the case, then we will write to you explaining how we reached our decision.
Once all the information available has been reviewed, we will issue a final decision letter which will provide a full account of our investigation and of our conclusion. Where we decide that redress is appropriate, we will outline exactly what form this redress will take. The letter will also inform you that if you are not satisfied with our response then you may refer your complaint to the Legal Ombudsman by letter, email or telephone.
The address of the Legal Ombudsman is:
PO Box 6806
Telephone 0300 555 0333
7. Data Protection
We adhere strictly to the rules and regulations of the Data Protection Act 1998 and all details provided by you will be held safely and securely by ourselves. Your information will not be passed to any third party companies.