Terms & Conditions

1.          OUR WORK ON YOUR BEHALF

1.1.      MyReclaim will pursue a compensation claim on your behalf in connection with payment protection insurance against the Lender.  The claim will be pursued in the first instance directly with the Lender but if necessary (provided always that the merits justify, we will refer the matter to the FOS.

1.2.      The work we carry out on your behalf in relation to your claim includes (without limitation): (a) obtaining instructions from; (b) obtaining from you the documentation and materials necessary in order to pursue your claim; (c) assisting you in completing forms and questionnaires or any other documentation necessary in order to pursue your claim, (d) corresponding with you and attending on you in person or by telephone; (e) corresponding with and attending on Lenders, the FOS and other relevant third parties. 

1.3.      MyReclaim will ask the Lender to investigate all credit and other agreements held by you with the Lender.

What is NOT covered under this Engagement Agreement?

1.4.      This Agreement does not extend to representing you in making a claim by way of Court proceedings.  If you do wish to pursue your claim in this way, you should seek advice from a solicitor or a barrister immediately.  We offer no advice at all as to any matter involving proceedings before the Court.

1.5.      We do not provide any financial or debt or tax advice or advice about the credit agreement you have entered into with the Lender or any loans or credit you obtained or any other aspect of your dealings with the Lender including (without limitation) any issues concerning secrete commissions or unfair credit or your obligations or liability to repay any loan or credit you obtained.

2.          OUR RESPONSIBILITIES

2.1.      We will give you the best information possible about your compensation claim and will take all reasonable steps to pursue the claim on your behalf.  We will act in your best interests at all times. 

2.2.      We are committed to providing to you regular updates on the key aspects of your claim promptly when there are any material developments and when your instructions are necessary.  In particular, we will inform at the earliest possible opportunity when an offer is received from your Lender.  A copy of the offer letter will be furnished to you. 

3.          YOUR RESPONSIBILITIES

3.1.      You must fully co-operate with us at all times and respond promptly to our requests for information, documentation or materials relating to your claim and supply to us copies of such documentation or materials.

3.2.      You must ensure that all the information you give us is true, complete, accurate and fairly represented and must not mislead us in any way.

3.3.      You must when requested complete and promptly sign any documentation including (without limitation) authority forms, FOS claim or application forms, questionnaires or any other materials required in order to pursue your claim.

3.4.      You must notify us immediately if you receive any direct communications such as telephone calls, e-mails or letters from the Lender in relation to your compensation claim.  In particular, you must notify us within 24 hours if you receive any offers from the Lender to settle your claim.

3.5.      You must not accept any offers made to you directly by the Lender without first consulting with us.ts

4.          OUR CHARGES AND EXPENSES

4.1.      If you Win your claim for compensation, we are entitled to charge you the Success Fee over the total Offers you receive.  The Success Fee plus VAT are due and payable to MyReclaim within 7 days of the compensation or monetary benefit being received and in the case of any other financial benefit within 7 days of you accepting the Lender’s Offer.  The following are examples of potential fee outcomes:

Example A: All compensation is “cash in hand”:

·       TOTAL Compensation if you Win:

£5,000

·       MyReclaim is entitled to Success Fee of 20%:-

£1,000

·       VAT presently at 20%:

£200

TOTAL MyReclaim Fee:

£1,200

NET Balance to you in cash:

£3,800

Example B: Compensation includes “cash in hand” plus loan and future instalment reduction:

·       TOTAL Compensation if you Win made of:

£5,000

(a)       Cash in hand.

£3,000

 

(b)       Loan reduction.

£2,000

 

·       MyReclaim is entitled to Success Fee of 20%:-

£1,000

·       VAT presently at 20%:

£200

TOTAL MyReclaim Fee:

£1,200

NET Balance to you in cash:

£1,800

Plus reduction in future loan instalments:

£2,000

Example C: Compensation is used to offset your arrears on credit card or loan or other borrowing:

·       TOTAL Compensation if you Win made of:

 

(a)       Cash in hand.

£0

 

(b)       Loan reduction.

£5,000

 

TOTAL Compensation:

£5,000

·       MyReclaim is entitled to Success Fee of 20%:-

£1,000

·       VAT presently at 20%:

£200

TOTAL MyReclaim Fee which you must pay:

£1,200

4.2.      The Success Fee is payable to us irrespective of the amount of work we undertake and whether or not the value or proceeds of any Offers are paid to you directly or indirectly or by way of credit or set off or in any other way.

4.3.      If you lose it means that the Lender has rejected your claim and either there is no merit in submitting a complaint to the FOS or the FOS dismisses your complaint in which case you do not pay MyReclaim anything for the work that we have carried out on your matter.

4.4.      If your claim is rejected by the Lender, we will provide you with a copy of the refusal notice which details the reasons.  We will also explain the outcome and our views as to whether a complaint to the FOS should be made. 

4.5.      In the event of you failing to pay our fees or charges or any sums due to us, we will be entitled to take steps to recover these from you in which case, we will be entitled to recover from you in addition any costs or expenses we incur as well as interest at the rate of 4.5% over any sums due.  The costs of recovery could be in the region of £150 plus VAT plus disbursements.

5.          TERMINATION OF THIS AGREEMENT

5.1.      You may cancel this Agreement without any charge within 3 days of receiving your PPI check results or within 14 days of a copy of this Agreement.  If you cancel this Agreement after this time, we reserve the right to charge a reasonable fee at the rate of £60 per hour plus VAT and disbursements to reflect the work undertaken to the date of cancellation.  You may cancel this Agreement by providing notice to us verbally or in writing at the following address:

MyReclaim, Vantage Point, Hardman Street, Manchester M3 3HF

5.2.      We can end this Agreement at any time (by giving to you notice in writing) if we consider it more likely that you will not Win your claim in which case as stated in paragraph 5.4 above you do not pay MyReclaim anything.

5.3.      We can also end this Agreement if you fail to comply with your responsibilities as outlined above in paragraph 4 above in which case we reserve the right to charge a reasonable fee at the rate of £60 per hour plus VAT and disbursements to reflect the work undertaken to the date of termination.

5.4.      After the Agreement ends we will inform the Lender (or its agent) and/or the FOS if appropriate that we are no longer acting as your representatives.  We have the right of lien over any property of yours in our possession unless any money owed to us under this Agreement have been paid in full.

6.          TIMESCALE

6.1.      We would expect a minimum of 4 months for any claim to be concluded if accepted by the Lender.  However, it could take between 6 and 12 months before the outcome is known.

7.          COMMUNICATIONS

7.1.      It is important that you notify us immediately of any changes to your personal contact detail such as address, email, telephone and mobile numbers.  This is so that we can obtain your instructions as may be necessary to progress your claim.  If you fail to do so and we are unable to contact you this may be detrimental to the prospects of your claim.

7.2.      We may communicate with you by telephone, post or electronically and may also use electronic means of communication to correspond with third parties in carrying out your instructions.  You may communicate with us by telephone, post and email.

8.          CONFIDENTIALITY AND DATA PROTECTION

8.1.      Where any information is received by us which is confidential to you we will treat that information in confidence unless instructed otherwise.  Where you are a ‘data controller’ and we are a ‘data processor’ for the purpose of the Data Protection Act 1998, we will process personal data on your behalf in accordance with that Act and your instructions.

8.2.      Please note that by agreeing to instruct us, you accept that the provision of services to you does not place us under any obligation to disclose to you, or use for your benefit, any confidential information or data that we currently have, or may obtain, in relation to any other of our customers.

9.          OTHER MATTERS

9.1.   We comply with the codes of conduct published by the Claims Management Regulator from time to time and applicable to claims management services.  The codes can be accessed by visiting: https://www.gov.uk/guidance/claims-management-company-regulations-guidance-and-legislation

9.2.   In view of the number of cases handled by us we, in common with most other service providers, arrange to store our files for certain periods according to the matter type and then destroy them.  Do not send us your original Lender documentation. Please only send copies.

9.3.      We may assign any or all of our rights and duties to another legal entity on the same terms and conditions as set out in this Agreement provided always that the assignment does not affect the quality of the services rendered to you.

9.4.      This document forms the entire agreement between us and you in relation to the work specified under paragraph 2 above.  Any person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement but this does not affect any right or remedy of a third party which exists or is available apart from that Act.

9.5.      This Agreement is governed by and interpreted in accordance with the law of England and Wales and is subject to the jurisdiction of the courts of England and Wales, unless you signed this Agreement in Scotland in which case the law of Scotland shall apply and is subject to the jurisdiction of the Scottish courts, or if you signed the agreement in Northern Ireland the law of Northern Ireland shall apply and is subject to the jurisdiction of the Northern Irish courts.

10.        CONCERNS

10.1.    We are committed to providing services of the highest standard.  If, however, at any point you become unhappy or dissatisfied with the service that we provide to you or you have concerns about your bill then you should inform us immediately so that we can do our best to resolve the problem for you.  We have a procedure in place.  The details of how we handle complaints are set out below.

10.2.    In the unlikely event that you are dissatisfied with the service you receive you may contact the Complaints Manager. The details for this are as follows:

FAO: The Complaints Manager, MyReclaim, Vantage Point, Hardman Street, Manchester M3 3HF Email: info@myreclaim.co.uk

10.3.    We will acknowledge your complaint within five business days and refer to you further within four weeks but no more than eight weeks with a final response. If we are unable to resolve your complaint then you can have the complaint independently looked at by the Legal Ombudsman.  You should refer the matter to the Legal Ombudsman within 6 months of the date of our final response letter.

10.4.    The Legal Ombudsman investigates complaints about poor service from claims management companies. The Legal Ombudsman can investigate complaints up to six years from the date of the problem happening or within three years of when you found out about the problem. If you wish to refer your complaint to the Legal Ombudsman this must be done within six months of our final response to your complaint. If you would like more information about the Legal Ombudsman their contact details are as follows: Visit www.legalombudsman.org.uk/cmc Call 0300 555 0333 between 8.30am to 5.30pm. Calls to 03 numbers will cost no more than calls to national geographic numbers (starting 01 or 02) from both mobiles and landlines. Email cmc@legalombudsman.org.uk Legal Ombudsman PO Box 6804, Wolverhampton, WV1 9WG.