Back To Top

PPI 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.

DEFINITIONS

'Free PPI Check' means FTR will endeavour to identify whether PPI existed on products/accounts provided by the Company for free.
'Instruction' means your instruction to us to commence the claims services contained within these Terms, Your instruction can be given once PPI has been located. You can provide your instruction in one of two ways; either by returning the Lender Questionnaire to FTR or by completing the Lender Questionnaire over the telephone with FTR. The same instruction will automatically apply to refer your claim(s) to the Financial Ombudsman Service (FOS). Once you provide FTR with your instruction you agree to and are bound by the FTR Terms and Conditions.

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 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 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 If FTR identifies PPI on a policy or account FTR will send you a Lender Questionnaire. We will not process your claim(s) until we receive your instructions. You can provide your instructions in one of two ways; either by returning the Lender Questionnaire to FTR or by completing the Lender Questionnaire over the telephone with FTR.

1.5 If you do not return the Lender Questionnaire by post but complete it over the telephone you will still be bound by the terms of this Agreement.

1.6 The Lender Questionnaire is to allow FTR to investigate the existence and merits of the claim(s).

1.7 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.

1.8 You understand that by completing one Lender Questionnaire and one Letter of Authority, that the company may investigate all accounts where PPI has been applied, under the instruction provided and that any successful claim(s) will be subject to a fee(s), as set out in Clause 3

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

1.10 Where we believe that a PPI policy may have been mis-sold to you or is a Plevin eligible claim(s), we will submit a detailed claim to the Company and/or the FOS upon your instruction(s).
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. Please note, your agreement with FTR would terminate at this point.

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

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

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

1.14 FTR will promptly notify you if FTR decides not to pursue your claim(s) and cancel this Agreement under Clause 9.

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

2. FREE PPI CHECK

2.1 These are the terms on which we will supply the Free PPI Check to you and you agree both to be bound by them and to acknowledge them.

2.2 That by completing, signing and returning the Letter of Authority you agree to be bound by this Agreement and appoint FTR to provide the Free PPI Check.

2.3 You can cancel the Free PPI Check at any time at no cost to you either by phone, e-mail or in writing.

2.4 FTR agrees never to charge you anything for the Free PPI Check.

2.5 FTR will endeavour to inform you, free of charge, whether any of the policies or accounts that you have had with the Company included PPI.

2.6 If PPI is not identified on any policy or product then FTR will endeavour to inform you.

2.7 If PPI is identified then you may choose to utilise the Claims Service defined in Clause 1.

2.8 You acknowledge that you could undertake the Free PPI Check yourself but have chosen to use FTR.

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 20% plus VAT at the prevailing rate (currently 20%) in respect of any redress/compensation/goodwill payment recovered on your behalf. The contingency fee of 20% 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.

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 20% 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 @ 20% £600
  • VAT@ 20% £120
  • Total Fee £720
  • Consumer receives £2280
    (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 @ 20% £600
  • VAT @ 20% £120
  • Total Fee £720
  • Consumer receives £780
    (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 @ 20% £600
  • VAT@ 20% £120
  • Total Fee £720
  • Consumer pays £720
    (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. AGREEMENT

This agreement will be effective from the date you give your instruction to FTR to proceed with your claim either by sending back the Lender Questionnaire by post or by completing it over the telephone with FTR. By giving your instruction you agree to be bound by these Terms and Conditions until such a point that the contract 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.

9. TERMINATION

9.1 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.

9.2 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.

9.3 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.