Give us a call on our freephone number
The claims process starts with an initial telephone call with one of our experienced claim handlers, who will talk you through the whole procedure. This will include ascertaining what potential claims you have. It would be a help to us if you can have your lender(s) or other credit provider(s) name(s) ready, together with any details that you know of such as when the loan(s) or other form of credit started, whether you paid a monthly or lump sum premium, and whether you clearly remember taking out the Payment Protection Insurance . Don’t worry if you don’t have all this information immediately, we can still start the process. Your claims handler will also collect basic information about you such as your full name, date of birth and occupation. Once you’ve made this call, the hardest part of the process is complete. You can then sit back and let us take over!
The claims pack arrives on your doormat
Don’t be daunted by the claims packs that we send you. Initially you’ll receive it electronically by e-mail. Please note that the e-mail pack is to enable you to read the full PPI consumer questionnaire for each of your claims. You will then receive your claims pack by post for you to check, complete, sign and return. You will notice that we will have completed as much of the application form as possible for you based on the information you provided in the initial phone call. The postal claims pack gives you the opportunity to add any details that you didn’t have to hand when you spoke to our claims handler, such as account numbers, previous addresses and previous names. In addition to completing the application form, you’ll need to sign a declaration that allows us to act on your behalf. Once you have read, completed and signed all the forms where we have indicated, please return the completed pack using the pre-paid envelope provided.
The pack arrives in the office
We’ll send a letter out confirming that we’ve received your claims pack accepting your instruction. At the same time, one of our claims processors will be reviewing your completed claims pack before sending a formal complaint letter detailing the reasons why we believe you have been mis-sold PPI to each individual lender. The clock then starts to run for the lenders, and as a result of the information gathering we’ve done through the initial phone call, and by thoroughly completing the complaint letter, the lender should have everything they need to assess your claim. They have eight weeks under rules laid down by the Financial Services Authority to respond to the claim. However, due to the high volume of claims, it can often take longer than eight weeks for a lender to acknowledge a claim. We will be monitoring the situation closely, and we will automatically be alerted if the lender fails to meet the regulatory timescale. We will chase them up on your behalf, and keep you fully informed with the progress of your claims. You can keep up-to-date by receiving our regular e-mail updates or if you use a smartphone, you may find it more convenient to keep up-to-date by downloading our App from the App store or Google Play. Search ‘The Fair Trade Practice’. It’s free, completely secure, and easy to use. You’ll just need your Case ID the first time you log in.
The provider issues an offer
Once the lender issues an offer, we will check it to make sure that you’re being offered the appropriate compensation. We know that lenders will occasionally try and avoid paying the full amount by offering a token sum as a goodwill gesture. Our expert team will assess your claim and make sure you’re getting what you’re actually entitled to. When the offer comes through, you’ll get a message from us asking you to call the office to discuss the offer and there may be some paperwork for you to sign formally accepting the offer, which we’ll post to you. We’ll then make sure it gets back to the lender as soon as possible.
Compensation payment received
It varies from lender to lender how long it takes before you receive the compensation after a settlement offer has been agreed. It can be anything from two weeks to two months. We’ll keep on top of this in the same way that we managed your case and make sure that whatever the lender offers as a settlement figure, they stick to it and refund the money to you. Only when we believe that you’ve received compensation from your lender, will we send you out an invoice, which will confirm the exact amount you’re receiving and our invoice for the work we’ve done to win your claim, our fee is 25% plus VAT.