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PBA Terms & Conditions

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 Reclaim, 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. SERVICE

1.1 These are the terms on which FTR agrees to provide the Claims Service and you agree both to be bound by them and to acknowledge them once we have received your instructions to proceed with your claim(s).

1.2 FTR will pursue a claim for mis-sold Packaged Bank Account ('PBA') against the lender on behalf of you for all financial products. FTR will also provide updates on the progress of the  laim, which will be undertake 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.

1.3 This complaint will be handled within Resolution Rules as specified by the
Financial Conduct Authority (FCA), you are aware that you could complain directly
to the Company at no cost, with the ability to take matters further with the FOS or
Court.

1.4 You will deal promptly with requests by FTR for authority, information, documents or further requests that FTR might make.

1.5 You will inform FTR promptly of any relevant matters affecting the claim(s), such as direct contact from the Company.

1.6 FTR will use reasonable endeavours to obtain compensation for the claim(s) pursued.

1.7 FTR will promptly notify you if FTR decides not to pursue your claim(s) and cancel this Agreement under Clause 8.

1.8 FTR will promptly notify you of the outcome of the claim(s).

1.9 You will also be asked to complete a FOS/PBA Questionnaire to allow FTR to investigate the existence and merits of the Claim(s).

1.10 Once Your Instructions have been received FTR has the right to deal exclusively with the Claim(s), unless otherwise agreed in writing by You and FTR.

1.11 You understand that by completing and signing the Letter of Authority, You give FTR Your consent and full authority to deal with the Company on Your behalf and to obtain the relevant information from the Company.

1.12 You will ensure that any information provided is accurate and true to the best of Your knowledge.

1.13 Where we believe that a PBA policy may have been mis-sold to You, we will submit a detailed Claim to the Company and/or the FOS upon Your Instruction(s).

1.14 FTR will promptly notify You of the outcome of the Claim(s).

1.15 Your Compensation may be applied as part of Your bankruptcy estate, insolvency asset, or other debt arrangement and Your Compensation may not be paid directly to You.

1.16 Where interest is included as part of the Compensation it may be taxable depending on Your personal tax status and You understand that You are required to disclose this payment to HMRC.

1.17 FTR will not be liable to You whether in contract or tort for indirect losses which happen as a side effect of the main loss or damage and which are not foreseeable by You and by us, such as loss of profits or loss of opportunity.

1.18 You will not be liable for any Fee(s) or charges if the Claim(s) is pursued and the Company pays no Compensation.

1.19 FTR reserve the right to assign this Agreement and all rights under it and to subcontract to others all or any of our obligations under it. This Agreement is personal to You and is not assignable by You except to Your personal representatives.

1.20 FTR's total liability to You in respect of all other losses arising under or in connection with this Agreement, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the amount of any Compensation to which You are entitled for the Claim(s) in connection to which FTR is liable unless those losses were  foreseeable by both parties when the Agreement was signed.

2. FTR FEES

2.1 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 to us than this amount.

2.2 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:

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 as there is no debt on the account)

Example B: Compensation includes redress amount awarded to claimant with overdraft deduction (tax chargeable on 8% interest).

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

Example C: Compensation is used to offset arrears consumer has on overdraft.

  • Total compensation: £3000
  • Of which award is £0
  • Overdraft reduction: £3000
  • Fee charged @ 30% £900
  • VAT@ 20% £180
  • Total Fee £1080
  • Consumer pays £1080
    (and a reduction of £3000 in overdraft)

2.3 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.

2.4 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.

3. 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.

4. 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.
(ii) In most successful cases where a claim relates to the alleged mis-sale of a Packaged Bank Account and the Packaged Bank Account is current, you will be required by the firm to cancel their Packaged Bank Account. If the Claim(s) is successful for Compensation, the policy will be cancelled and You are responsible for identifying a replacement policy if appropriate.

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 packaged bank account which is cancelled as part of a successful compensation claim.

5. REGULATORY BODIES

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

6. 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, via the telephone on 0333 212 1265 or in person. 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: cmc@legalombudsman.org.uk
Telephone: 0300 555 0333

7. AGREEMENT

We will not process Your Claim(s) until we receive Your Instructions. By signing and returning the Letter of Authority You have provided Your Instruction and agree to be bound by this Agreement.

8. TERMINATION

8.1 Once you have provided your instructions to FTR and the claims process has begun you may terminate this agreement with FTR in writing at any time via post or email. 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. 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 2 above. Termination of this agreement following such success will still incur the appropriate fee as outlined in point 2 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.