Here 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.
These Terms and Conditions form the Agreement between us.
'Claim/Claims' means the Client’s 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 is addressed being 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 (including for the avoidance of doubt any employee, director, agents, representatives and associates of those entities or any other entity and/or any of their predecessors). 'Third Party' also means the Financial Ombudsman Service and the Financial Services Compensation Scheme.
'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.
'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 or awarded in respect of any Claim made by us on your behalf. 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.
'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 including assessing the viability of, preparing, submitting and negotiating your Claim and which is set out more specifically in clause 3.
'Us', 'We' and 'Our' means Financial Recovery Solutions Limited.
'You' and 'Your' means the client(s) whose details are recorded on the Form of Authority and Engagement.
We agree to:
You agree to:
How You Can Cancel This Agreement
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. Should 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.
We will send you a written acknowledgement within 5 business days and send you a copy of our complaints process. If we haven’t resolved your complaint within 8 weeks of receipt or you are not satisfied with our response you can refer it to the Legal Ombudsman, whose contact details are:
PO Box 6804,
Call: 0300 555 0333
Calls may be recorded for training and quality purposes. Calls to 03 numbers are included in free call packages. Calls from landlines may be charged up to 9p per minute, whilst calls from mobiles will be more.
Updated October 2017