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Terms & Conditions – PPI Claims

This Agreement forms a contract between you the ‘Client(s)’ and Fast Track Reclaim (FTR). Fast Track Reclaim is a trading name of Quickly Finance Limited whose address is Fast Track House, Pearson Way, Thornaby, Stockton on Tees, TS17 6PT. You should not sign this contract until you have read the agreement and services that FTR provide, including any fees payable to them.

Please note that you have a 14 day cooling off period to withdraw from the contract.

1. THE SERVICE PROVIDED

1.1 FTR will pursue a claim for mis-sold Payment Protection Insurance (‘PPI’) against the lender on behalf of you for all financial products. FTR will also provide updates on the progress of the claim, which will be undertaken on a ‘No Win No Fee’ contingency basis. FTR will only progress claims which appear to have sufficient grounds to justify making a claim from the information provided to FTR by you.

1.2 In signing these terms and conditions you agree to instruct FTR to attempt to bring a claim for all products with the lender. FTR will be entitled to a contingency fee (as set out below) for all products with the lender including cases which you have not directly signed a separate letter and/or terms and conditions for.

2. PROCEDURE

2.1 Upon receipt of your completed Claim Pack, FTR will instigate a complaint on behalf of you with the Lender/Broker responsible for the alleged claim. This complaint will be handled within the internal complaint procedures of the Lender/Broker, which are governed by the Dispute Resolution Rules as specified by the Financial Conduct Authority (FCA).

2.2 FTR will pursue a complaint through such procedures until a decision is received from the Lender/Broker. This decision will be assessed in line with our assessment of the value of the claim and, if required, will be referred to the Financial Ombudsman Service (FOS) to act as arbitrator in any dispute arising from the decision, where their jurisdiction applies. Please note that the FOS is a free service available to you.

2.3 FTR will progress the claim until a final conclusion is reached. Where that conclusion is successful, FTR will be entitled to charge a fee in line with that agreed under clause 3 entitled ‘FTR Fees’ below.

2.4 FTR may be unable to progress your claim under certain circumstances. Where this is the case we will notify you in writing of our decision not to proceed, and, upon request, will provide you with a concise explanation as to why we are unable to proceed further with your claim.

2.5 In certain circumstances where we consider it is in your best interests to do so we may refer your claim to our panel of solicitors for them to instigate legal proceedings on your behalf. Your solicitor will act on a no win no fee agreement providing the case meets its criteria.

3. FTR FEES

3.1 No fees will be charged to you in respect of an unsuccessful claim. Where a claim is successful, FTR will charge a contingency fee representing no more than 30% plus VAT at the prevailing rate (currently 20%) in respect of any redress/compensation/goodwill payment recovered on your behalf. The contingency fee of 30% plus VAT is calculated before any applicable tax payment/deduction of which you are liable. Under no circumstances will you be required to pay more than this amount.

3.2 Should you receive and accept an offer for the balance of a credit agreement to be written off, or for redress/compensation to be offset against arrears, the fees will be calculated at 30% of the write off or amount offset, plus VAT at the prevailing rate.

Examples of the fee structure are set out below and can be explained further by contacting our office directly:

Example A: Compensation is paid in full

  • Total compensation:    £3000
  • Of which award is        £3000
  • Fee charged @ 30%   £900
  • VAT@ 20%                 £180
  • Total Fee                      £1080
  • Consumer receives     £1920
    (and no reduction in loan as it is already paid off in full)

Example B: Compensation includes redress amount awarded to claimant with loan and future installment deduction (tax chargeable on 8% interest)

  • Total compensation:   £3000
  • Of which award is        £1500
  • Loan reduction           £1500
  • Fee charged @ 30%  £900
  • VAT @ 20%               £180
  • Total Fee                    £1080
  • Consumer receives    £420
    (and a reduction of £1500 in future loan installments)

Example C: Compensation is used to offset arrears consumer has on credit card or loan

  • Total compensation:   £3000
  • Of which award is         £0
  • Set off arrears            £3000
  • Fee charged @ 30%  £900
  • VAT@ 20%                £180
  • Total Fee                   £1080
  • Consumer pays         £1080
    (and a reduction of £3000 in their outstanding loan)

3.3 You must notify FTR if the account and/or credit card is in arrears. IF example C above occurs, in which the full award is applied against any arrears, then FTR will only be entitled to recover fees once the account/credit card has been paid off in full, unless otherwise agreed between FTR and yourself. The amount you are required to pay FTR will not exceed the monthly amount you were required to pay to the original lender and/or credit card provider. You can choose to make additional payments to FTR towards the fee.

3.4 Where fees remain unpaid and FTR are forced to either take court action or appoint a debt collection agency to recover outstanding monies, FTR reserve the right to increase the amount owed by an amount equivalent to the cost of that recovery. A court may also award additional cost and/or statutory interest at the rate of 8% above Bank of England base rate.

4. DOCUMENTATION AND DISCLOSURE

You must provide all documents which you may have in your possession from the Lender, Broker or Insurer which may assist in the preparation of the claim. You may also be required to provide proof of your identity and/or proof of address as required. You must complete all documentation and disclose all relevant information which is pertinent to your claim in a truthful manner, which is accurate to the best of your knowledge. You may be required to complete additional forms and information for the purpose of proceeding with a FOS claim.

5. THE RISKS OF MAKING A CLAIM

The procedure outlined in this document is intended to minimise the risk of making a claim against a third party. In the normal course of events, if the claim is not pursued, there is nothing for you to pay as any liability for fees only arises upon a successful outcome; however, there are circumstances where risks may exist. You therefore acknowledge that the following risks are involved in making a claim:

(i) That you may lose your case or your case may be closed due to lack of evidence.

(i) In most successful cases where a claim relates to the alleged mis-sale of a PPI Policy and the PPI Policy is current, you will be required by the firm to cancel their PPI. This will leave you without insurance cover on your credit agreement. Should you consider that having insurance cover on your credit agreement is of importance, then FTR strongly encourages you to seek independent financial advice as to the availability of alternative cover. FTR also urges you to put such cover in place before the cancellation of your policy.

FTR cannot accept any responsibility for the loss of benefits under a payment protection insurance policy which is cancelled as part of a successful compensation claim.

6. REGULATORY BODIES

Quickly Finance Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities (CRM23552).

7. CONCERNS ABOUT OUR SERVICE

FTR operates an internal complaints procedure for the resolution of complaints regarding services provided by our claims management department. In the event that you have a complaint about the service which we provide, please write to: Complaints Department: Fast Track Reclaim, Fast Track House, Pearson Way, Thornaby, Stockton on Tees, TS17 6PT.

Alternatively you may register your dissatisfaction via email to complaints@fasttrackreclaim.com, or via the telephone on 0333 212 1265. We will acknowledge your complaint within 5 working days and advise you of how we plan to resolve your concerns at the earliest opportunity. A copy of our Internal Complaints Procedure can be found in our Customer Information, and is also available upon request.

If you remain dissatisfied, you may refer your complaint to the Legal Ombudsman, PO Box 6806, Wolverhampton, WV1 9WJ.

Email: enquiries@legalombudsman.org.uk

Telephone: 0300 555 0333

8. TERMINATION

8.1 You may terminate this agreement with FTR, in writing at any time. No cancellation fee will be charged if you decide to terminate this agreement prior to the claim being successful. Your claim is deemed successful if we send a letter of complaint and you go on to receive an offer from the lender which you accept, (even if post termination). Upon signing this agreement you will have 14 days to cancel the agreement without any consequence or charge. This process is known as ‘cooling off’, and where FTR are instructed to do so, they will acknowledge that the agreement has been terminated in writing.

8.2 You acknowledge that once a claim has been successful or you receive any benefit from instructing FTR to bring a claim, you will be liable to pay the contingency fee as set out at clause 3 above. Termination of this agreement following such success will still incur the appropriate fee as outlined in point 3 of this agreement.

8.3 In some cases, FTR may decide that they are unable to continue to act for you. Examples of where this may occur are: if FTR cannot obtain clear instructions from you; if they believe that they will not be successful in your claim, or; if they have been given misleading instructions or information from you.

9. AGREEMENT

This agreement will be effective from the date that you sign it. By signing (right) you agree to be bound by these terms and conditions until such a point that the agreement is terminated or your claim is brought to a final conclusion. If you have any queries relating to these terms and conditions then please contact us on 0845 459 8895 before signing.

I agree I may be contacted with information concerning other products and services provided by subsidiaries of Quickly Group Holdings Limited.

If you do not wish to be contacted, please inform our Customer Services team on 0845 459 8895.