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 endeavor to recover your full records from your lender via a full Subject Access Request under General Data Protection Regulation.
• 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 General Data Protection Regulation.
• 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 were 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 bodies) 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 endeavor 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 canceled.
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:-
(a) pursue your claim;
(b) enter into correspondence and negotiations on your behalf;
(c) receive, process and provide a valid receipt for any remuneration made;
(d) 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.
(e) 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 20% plus VAT of 20% a total of 24% of the gross amount successfully claimed for you (ie the amount awarded BEFORE any deduction of Income Tax.) For example, if you successfully claimed back £1,000 before deduction of Income Tax our fee would be £200 plus VAT of 20% a total of £240. Net compensation payable to you of
£760. 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 the 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.