FAQs - New Clients

Payment Protection Scotland's frequently asked questions are listed below:

» Do I Have to Pay Upfront?
» How Much Will My Claim Be Worth?
» I Signed the Agreement and Knew I Had Taken Insurance. Can I Still Claim?
» I Don’t Have any Paperwork. Can I Still Claim?
» When Will I Get My Money?
» No Win, No Fee – Surely There Must be a Catch?
» What Will I Need to do?

Do I Have to Pay Upfront?

No, we work on a strictly no win - no fee basis. If we're not successful you won't pay a penny.

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How Much Will My Claim Be Worth?

The amount depends on various factors. How much you borrowed? When you borrowed it? Who the lender was? But generally our average successful claim is £3000-£4000. But one of our specialist advisors will be able to give you an idea within a few minutes. You can call us 7 days a week or provide your details securely online.

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I Signed the Agreement and Knew I Had Taken Insurance. Can I Still Claim?

Yes.

Almost everyone in your position signed the agreement. But in our experience most lenders didn’t carry out the sale correctly. This is where our team’s experience comes in. Over 90% of our claims are successful.

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I Don’t Have any Paperwork. Can I Still Claim?

Yes.

Not having any paperwork doesn’t mean you can’t claim. We just need your instruction to start your claim and we can arrange everything else.

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When Will I Get My Money?

Times vary by lender and case by case. But the Financial Ombudsman gives most Lenders 8 weeks to make an offer of settlement or decline your case. If they try to decline your case we will then appeal your case to the Financial Ombudsman. This can extend the time to settle your case.

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No Win, No Fee – Surely There Must be a Catch?

No. There is no catch. We operate on a strictly No Win No Fee basis.

a) Our fees are 24% (VAT Inc.) of the total gross redress (total compensation before HMRC’s deduction) offered by your lender
b) If we do not recover any money for you then you do not have to pay anything (subject to cancellation clause)
An example of our fees is: -

• £1500 recovered, HMRC deduction £100 for income tax. Our fees on this would be £360 (24% VAT Inc.)
• £3000 recovered, HMRC deduction £200 for income tax. Our fees on this would be £720 (24% VAT Inc.)
• £10000 recovered, HMRC deduction £700 for income tax. Our fees on this would be £2400 (24% VAT Inc.)

c) Our fees relate to any contract entered from 1st April 2019. Contracts entered into prior to 1st April 2019 are chargeable at the rate outlined in such contracts.
d) In some instances, Lenders can re-investigate complaint after a final decision has been given. If the outcome of this is that your complaint is upheld and redress given, you will still be liable for out fees.
e) If your lender uses funds from a successful claim to offset an outstanding balance you would still be liable for our fee on the full award e.g. £10,000 award but £5000 used to remove an outstanding balance our Fee(s) would be £2400 (24% VAT inclusive of the £10,000 award) and you would receive £2600.

YOU’VE NOTHING TO LOSE.

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What Will I Need to do?

Once you call us we can start your claim process. Generally the only thing you need to do is sign 3 pieces of paper and we will do the rest. It really is as simple as that.

We will put together your case, contact your lender, negotiate with them and check that they have made a fair and accurate offer of settlement.

We will inform you of any settlement offers from your lender and when you can expect to receive YOUR money.

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