Financial Recovery Solutions Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities. Its CMR registration number is 13960.
You should be aware of time limits attached to your claim such as when you may run out of time to bring a claim (known as the ‘limitation period’).
These are our standard terms and conditions used to pursue financial mis-selling claims. You can also find answers to some commonly asked questions about our claim process in our pre-contract terms which can be found here.
These Terms and Conditions form the legal agreement between us.
Definitions which apply to this agreement
'Claim/Claims' means Your claim or claims against the Third Party relating to the mis-selling of a Financial Product.
'Third Party' means the financial institution and/or persons to whom the Form of Authority and Engagement in relation to a Claim is addressed such as the insurance company, bank, building society, credit card company, broker, or financial adviser or any other entity which sold the Financial Product or gave the advice to You . 'Third Party' also includes the Financial Ombudsman Service and the Financial Services Compensation Scheme.
‘Letter of Authority’ means the signed letter of authority which you provide to Us in respect of a Claim
'Financial Products' means payment protection insurance (PPI), general insurance contracts and mortgage finance products, payday loans and packaged bank accounts (PBA) and breaches of the Consumer Credit Act 2006 or a combination of these.
'Client Account' means a separate bank account in which client funds are deposited. This account is separate to Our main business account and the management of the account is in accordance with the Claims Management Services Regulation Client Account Rules 2006.
'Compensation' means any sums paid, offered or awarded in respect of any Claim as a result of Our efforts. This includes “benefits”, redress, gestures of goodwill, ex gratia payments, refunds, discounts, any reduction in the loan outstanding and/or any interest or capital recovered. Where such an offer is increased on appeal during the term of this agreement, then the higher amount shall be used in order to calculate the amount of the compensation.
‘Data Protection Legislation’ means the Data Protection Act and the General Data Protection Regulation 2016.
‘Personal Data’ means any information relating to an identifiable person who can be directly or indirectly identified in particular by reference to an identifier such as name, identification number, location data or an online identifier.
'Service Charge' means the charges payable by You as set out in these terms.
'Services' means the work which We will undertake on your behalf in respect of your Claim set out in clause 3.
'Us', 'We' and 'Our' means Financial Recovery Solutions Limited (Companies House Registration Number: 06621703).
'You' and 'Your' means the client(s) whose details are recorded on the Form of Authority and Engagement.
Length of this Contract:
The Services We will provide to You
Your obligations to Us
However, if We are in breach of Our obligations under this agreement You can cancel this contract at any time without having to pay a fee to Us.
How We Can Cancel or Change This Agreement
From time to time We may decide not to apply certain conditions of these terms to some/all of Your claims. If We decide not to apply a condition of these terms to one of Your Claims, this does not mean that We cannot apply it to any of Your other Claims that You have instructed Us to pursue on Your behalf arising from Your original instructions or otherwise.
Other Important Terms
We would, however, appreciate the chance to deal with your concerns before you approach the ICO so please contact us in the first instance by submitting your complaint to:
Further information about Us
We are Financial Recovery Solutions a company registered in England and Wales with company name Financial Recovery Solutions Limited. Our company registration number is 06621703 and our registered office is at Plus House, Administration Dept, Ground Floor, 57 St. Petersgate, Stockport, Cheshire, SK1 1DH. Our registered VAT number is 994 0192 00.
Our Data Protection Warranties
We warrant and undertake, in respect of all your Data supplied, forwarded or otherwise made available to us for the purpose of pursuing financial mis-selling claims to:
Updated July 2018