Terms & Conditions
TERMS AND CONDITIONS
PAYMENT PROTECTION/PACKAGED BANK ACCOUNT CLAIMS
PLEASE READ CAREFULLY
Beat The Banks (BTB) is the trading name of PPI Reclaims (Scotland) Ltd. We want your decision to use our Company to be the right choice for you. We are committed to providing a friendly, professional, simple and easy to use service. Our aim is to be completely transparent in all our dealings with you and these Terms and Conditions explain our obligations to you and yours to us. They are, in effect, our contract with you. Please read them carefully and retain your copy for future reference.
What BTB will do for you:-
If you do not have original paperwork relating to your PPI Product, we will endeavour to recover your full records from your lender via a full Subject Access Request under the Data Protection Act 1998. This procedure involves a statutory fee of £10 payable to your lender. If you have no proof of your PPI, we would ask that you pay this fee. This fee is refundable only in the event that you choose to cancel your enquiry within the 14 day cooling off period.
- We will progress your claim on a “No Win No Fee” basis. This means that we will only charge you if redress is recovered based on an agreed percentage of the amount received. (Charges apply if you cancel after 14 days – see Cancellation of this Agreement)
- You are not required to use BTB or any other claims management company in pursuing your claim(s). In fact you may claim directly to the financial institution that sold the PPI to you or subsequently take your complaint to the Financial Ombudsman Service if you do not receive a satisfactory response from them.
- We will hold all personal and financial information in accordance with the Data Protection Act 1998.
- We will assess your claim and if appropriate, pursue a claim for the recovery of your losses, on your behalf.
- We will deal with all aspects of your claim, including all correspondence. This includes all negotiations where required with relevant companies and/or institutions. On occasion, it may be necessary for us to obtain further signed documentation to make this possible.
- We will, if needed, pursue your claim with the Financial Services Compensation Scheme, the Financial Ombudsman Service (or other regulatory body) at no additional cost to you.
- We will inform you of all and any offers of settlement that we receive, evaluate them and inform you either verbally or in writing whether we consider that you should accept or reject the offer.
- We will always act in your best interests when pursuing your claim and endeavour to achieve for you, the absolute best results realistically obtainable.
- If, as per your instruction, the recovered amount is paid directly to BTB, we will deduct our agreed fee and forward the rest of the amount awarded to you without delay. If the payment is made directly to you, then we will forward an invoice to you for immediate payment.
- If your claim is against a current policy and is successful, we must advise that your Payment Protection Insurance will be cancelled.
What BTB will not do for you:-
- We will not offer or give you financial advice.
- We cannot guarantee to win a claim that we accept and pursue.
- We will not advise you to pursue a claim that in our opinion has no realistic chance of success. We also reserve the right to cancel this Agreement if we form this opinion.
- We will not accept an offer of compensation on your behalf without your agreement either verbally or in writing.
- We will not take your case to court (we will however inform you if we think that you should).
What do BTB require from you:-
- We ask that you provide all relevant information we may request without delay, as this will enable us to pursue your claim efficiently.
- Provide us with clear instructions.
- Co-operate fully with us.
- Provide us with the exclusive authority (excluding even yourself) for the duration of the contract to:-
- pursue your claim;
- enter into correspondence and negotiations on your behalf;
- receive, process and provide valid receipt for any remuneration made;
- ask the financier of the cheque (for your compensation payment) to make it payable to Beat The Banks so that we can process it or, if the cheque is made payable to you, to pay it into a client account deduct our fee, as set out in this Agreement, before forwarding the balance to you.
- If payment is made to you directly into your bank account, you must pay our invoice within fourteen days. If payment is made to you in the form of a cheque, payment of our invoice is due fourteen days after cheque clearance.
In the event that you are currently subject to a Trust Deed or IVA or a Bankruptcy or Sequestration, you may be able to claim but you should be aware that the compensation received will be used to pay your creditors. You will still be liable to pay our fees. Dependent on circumstances these fees may be met by the Account in Bankruptcy or your appointed Insolvency Practitioner.
If you are within a period of up to nine months from the finalisation of your Trust Deed or IVA, then depending on the amount of compensation received, there is a possibility that your case may be re-opened by your Trustee or the Accountant in Bankruptcy. Following a Bankruptcy or Sequestration, after a defined period of time you are normally given an automatic discharge. In certain cases you may also require a second discharge from the Insolvency Practitioner dealing with your case. You should be aware that even after being discharged the Accountant in Bankruptcy and any Insolvency Practitioner appointed on their behalf, reserve the right to re-open your Bankruptcy or Sequestration dependent on the amount of compensation awarded. In such cases then our fees would normally be met by them.
If you are currently subject to a Debt Arrangement Scheme, the lender may choose to offset the compensation against a debt that you have outstanding with them. In which case you will still be due to pay our fee. This may also apply if you are also currently subject to any other debt repayment programme with your creditor or a debt management plan
In the event that we do not succeed in obtaining compensation, then you pay us nothing. This is commonly known as “No Win – No Fee”.
There is a success fee of 30% of the gross amount successfully claimed for you (ie the amount awarded BEFORE any deduction of Income Tax) or £50 whatever is the greater. For example if you successfully claimed back £1,000 before deduction of Income Tax our fee would be £300. Our fees are subject to VAT @ 20%. Net compensation payable to you £640. For the avoidance of doubt, our fee is based on the gross amount of compensation received (ie before deduction of Income Tax from the 8% interest element of your compensation). Examples of how our fees may apply are shown below:
The definition of an “amount successfully claimed” is an amount that you benefit from in one, or a combination of, the following scenarios:-
- Cash settlement.
- Reduction of outstanding balance.
- Reduction of arrears.
- Reduction of the payment term/amount.
If your lender agrees to award you compensation but exercises the right of “set off” whereby the amount of compensation, in full or in part, is used to offset an outstanding balance or arrears, then you will still be liable to owe us the full equivalent of the success fee.
If an offer of compensation is made in line with FOS/FCA guidelines then our full fee is payable.
In the event that your claim has been referred to us by an individual or a referral partner, we may pay an introducer referral fee. Our referral fees are currently set at £100. This fee will only be paid on successful completion of your claim, full settlement of our Invoice and subject to a minimum compensation award of £1,000. You will never be asked to pay more than our agreed fee.
At the end of a positive outcome, we will forward to you our invoice (if you are not awarded any compensation, then you do not pay us a fee). This is payable STRICTLY within fourteen days of the receipt of cleared compensation funds.
At BTB we treat non-payment of invoices as a serious matter. Therefore, continued non-payment of invoices WILL result in court action. The cost of any court action including legal fees will be added to your bill in full. This will add substantial costs to your final account. Further, we will lodge a CCJ against you which will appear on your Credit File and seriously impair your ability to obtain credit for a six year period from the date of the Judgement.
Cancellation of this agreement
You have a 14 day cooling off period from the date we receive the signed documents in which to cancel any claim. Should you wish to cancel a claim after the statutory cooling off period, then this will be subject to our administration costs which are based on an hourly fee of £50 plus VAT @ 20%, subject to a maximum fee of £400. All our claims are accepted on a “no win – no fee” basis. If your claim is not successful, then you pay us nothing except where you cancel our service after the cooling off period and we charge our administration costs for work carried out on your claim(s).
You can complete and submit a Cancellation Notice via our website. Alternatively, you may cancel by telephone to 01382 200474, in writing to us at 11 Albert Square, Meadowside, Dundee, DD1 1DD or by email to email@example.com.
In the event that you cancel the agreement when an offer of payment has been made verbally or in writing by the lender, we will enforce our charges of 30% plus VAT @ 20%. Refusal to pay our fee will result in further charges if we consider County Court action to recover our unpaid fees.
How to Complain
We aim to provide our customers with a highly professional service, conducted with the highest degree of professionalism. In the event this is not the case and you have an issue with our conduct, we want you to let us know. You can complain in a variety of ways:-
Call:- Our Compliance Manager on 01382 200474
Write:- Compliance Manager
Beat the Banks
11 Albert Square
(for the attention of the Compliance Manager)
Our aim is to resolve your complaint as quickly as possible. If we are unable to resolve your complaint within 48 hours, we will write to you within 5 working days with an acknowledgement of your complaint either with a formal response, or explaining when we feel we will be able to give you a final response. We will tell you the name and title of the person who will be handling your complaint and will keep you updated as matters progress. We aim to resolve all complaints within an eight week period by which time we will issue our final response letter. If we do not hear from you within fourteen days of receiving our final response, we will assume that your complaint has been resolved and close your file. If you have received our final response and still consider your complaint to be unresolved, you have the right to refer your complaint to the Legal Ombudsman. You have six months from the date of our final response letter to complain to the Legal Ombudsman. You can contact them as follows:-
In writing: Legal Ombudsman, PO Box 6804, Wolverhampton, WB1 9WG.
By telephone: 0300 555 0333
By email: firstname.lastname@example.org
PLEASE NOTE The Legal Ombudsman can only accept claims from clients who are resident in England and Wales.
We will hold, control and process your personal information in accordance with the Data Protection Act 1998. By providing your personal information to us, you explicitly authorise us to process the information for the purposes set out in this paragraph. You can, at any time, request a copy of all information we hold relating to you by writing to us (a written Data Subject Access Request in accordance with the Data Protection Act). You will be charged an administration charge of £10.00 for this. We will use the personal information you provide to assess your claim and carry out our duties in accordance to this Agreement.
We may share your personal information with other companies if necessary during the process of your claim for compensation, or any financial matters we believe may be of assistance to you. You have the right to opt out of having your details shared. You may advise us of this by either telephone or in writing or by ticking the box below.
PPI Reclaims (Scotland) Ltd trading as Beat the Banks is regulated by the Claims Management Regulator in respect of regulated claims management activities. Its registration is recorded on the website www.gov.uk/moj/cmr CRM29125.