Reclaim mis-sold PPI! Call FCAS Today!

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0800 634 5293

or on your mobile

01923 479080

Frequently Asked Questions.

Who is FCAS?

FCAS - Financial Claims Advisory Service Ltd - is a specialist Claims Management Company that reclaims compensation for mis-sold financial policies. Our professional team will manage the entire claim process, including any appeals to the Financial Ombudsman and if required any court proceedings.

Have I been mis-sold PPI?

Providers sometimes used aggressive sales tactics and failed to provide full information to customers about the policy.

So there is a good chance that you may have been mis-sold it without even knowing!

Is FCAS regulated by any Government Department?

Yes. We are regulated by the Claims Management Regulator in respect of regulated claims management activities. Our authorisation number is CRM22601. 

How does the process work?

Once we receive your signed paperwork, the claim will be passed to an account manager to assess your claim.

FCAS will then contact your lender and ensure that your claim is dealt with within the required timescale in order to bring your claim to a satisfactory end. Throughout the process

FCAS will keep you updated on how the claim is progressing. 
Should your claim be rejected by your lender, FCAS will handle the appeal process on your behalf and present the relevant documentation to the Ombudsman service.

FCAS aim to acquire you a satisfactory refund at the end of the process; this will include all payments made to your lender for Payment Protection Insurance along with any statutory interest associated with the policy.

How much does it cost to make a PPI Claim?

You do not pay any upfront fees! So if you don't win, we don't charge you anything.

On successful completion of your claim, you’ll pay us 25% of any sum recovered, plus VAT at the current rate.

Your PPI will generally have been attached to a credit agreement. If there is no outstanding balance, your compensation will be paid in a lump sum as per Example A. In the event that there is still an outstanding balance the creditor may exercise the right to offset some or all of the compensation against the outstanding balance, as per Example B

Example A: All compensation is 'cash in hand'

Total compensation

£3000

Of which cash

£3000

Our Fee 25%

£750

VAT @ 20%

£150

Total Fee Payable

£900

Total Financial Benefit To You

£2100

(You receive £2100 and no reduction in loan as it is already paid off in full)

Example B: Compensation includes 'cash in hand' award with loan and future instalment reduction

Total compensation

£3000

Of which cash

£1000

Loan reduction

£2000

Our Fee 25%

£750

VAT @ 20%

£150

Total Fee Payable

£900

Total Financial Benefit To You

£2100

(You receive £100 and a reduction of £2000 in future loan instalments) *Fee May be payable if case is not pursued at Client's request.

Example C: Compensation consists of loan and future instalment reduction with no ‘cash in hand’ award.

Total compensation

£3000

Of which cash

£0

Loan reduction

£3000

Our Fee 25%

£750

VAT @ 20%

£150

Total Fee Payable

£900

(After You Fee is paid you receive a reduction of £2100 in future loan instalments)

What if I still owe the lender who mis-sold me PPI money?

If there is an outstanding balance with your creditor, they may have the right to use your compensation to pay the outstanding balance.

How long will it take to recover my PPI charges?

The entire process normally takes between eight and twelve weeks depending on the lender's response times.

I have started a PPI claim myself, can you help me?

FCAS will assess the stage of your claim and tailor our service to ensure that the claim is managed effectively with required time frames. 

When will I have to pay your fees?

You must pay our fee within 14 days of the day on which the Sum Recovered is paid to you, or to such other party. If the compensation is in the form of a reduction, write off, cancellation or waiver, the fee is payable on the day in which this takes place, or is agreed (whichever happens first)

Is my information safe with you?

We are registered under the Data Protection Act 1998, number Z2086352 and we take the greatest care to keep your personal information confidential.

Where can I get more help?

If you need further help or would like to re-claim yourself, call your bank or alternatively the Financial Ombudsman Service can answer questions.

What if I'm not happy with the service?

At FCAS we pride ourselves on a professional service and we will do everything we can to ensure you recover what is due to you. Your claims administrator will be there to help and guide you through the whole process. If you are not happy with our service in any way we would like to hear about it. Complaints can be submitted via the following methods:

• Writing:

FCAS
30 Clarendon Road
Watford
Hertfordshire
WD17 1JJ


• Emailing complaints@fcasltd.co.uk


• Calling 0800 6345293


We will log and provide a reference number which will be sent as a written or electronic acknowledgement of a complaint within five business days of receipt, giving the name or job title of the individual handling the complaint for the business, together with details of the business's internal complaints handling procedures.

Within 21 working days of receiving the complaint we will either send a) final response or b) holding response, which will explain why we are not in a position to resolve the complaint and indicate when we will make our final response (which will be within 56 working days of receipt of your complaint).

If you are not satisfied with our final response or if a complaint is not resolved after 56 days you may refer the complaint to the Legal Ombudsman: PO Box 6806, Wolverhampton, WV1 9WJ Email: enquiries@legalombudsman.org.uk Tel: 0300 555 1777

 

* FCAS reserve the right to decline considering a complaint that is made more than six months after you became aware of the cause of the complaint. In some instances this right will be waived at the discretion of FCAS. We will confirm to you in writing if a complaint has been made outside the time limit that we are prepared to consider


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