1. What do I need to do to claim PPI?
Please complete the claim application and read and sign the terms of business and letter of authority. Then send them back to us along with copies of any relevant documentation, if any.
2. Do I need to provide any documents?
If you have documents then it would be particularly helpful if you can send us copies, for example, if you have a loan, credit or mortgage agreement or copy of credit card statements. If not, don’t worry, because the letter of authority will enable us to get copies of the information from the adviser or insurance company.
3. What can I claim for?
You can claim for the return of any PPI payments plus interest at 8% if your PPI policy was mis-sold. If you have been charged interest on your PPI payments, perhaps because it was included in a credit account, then you could claim that interest back as well. However, you cannot claim again or complain again if previously rejected.
4. How long will my PPI claim take?
The firms that sold the policy are required to resolve complaints generally within 8 weeks of receiving them. The average claim takes between 2 to 4 months to complete. We may also have to refer your claim to the Financial Ombudsman Service (FOS) which will take longer. We will be doing all we can to get your claim completed as soon as possible.
5. How much do I have to pay?
All completed claims are on a “No Win No Fee” so You won’t pay us anything unless we’re successful in winning your claim, in which case you will need to pay us 15% plus VAT (18% total) of the total compensation offered. There is also no fee for claims cancelled during the cooling-off period. Claims cancelled outside the cooling-off period may be subject to a cancellation fee in accordance with Clause 6(c) of the Terms and Conditions. Our invoice is due 7 days after receipt assuming that you have received your compensation or the benefit (e.g. loan reduction). Compensation is normally paid 28 days after receipt of an offer. You need to inform us if you have not received the compensation so we can investigate.
6. How will my compensation be paid?
Compensation can be paid in a variety of ways. Our fee is based on the total amount of compensation that is applied, which includes cash payments and amounts offset against your loan or amounts used to restructure your loan. This is why it is important to tell us about any arrears you have in relation to the credit or loan accounts. The tables below set out some examples in more detail.
Example 1 – Where all of the compensation is paid as a “cash” benefit.
Firstly, you may receive a cheque back for the amount of compensation or it may be paid directly to your bank account. This is usually the way if your loan has been repaid in full or there’s a refund due when you cancel the PPI policy.
|Our Fee (15% plus VAT (18% total))||
|Net amount of compensation paid to you as cash||
Example 2 – Where some of the compensation is paid in cash and some is used to reduce your loan.
If your loan or credit account is still in place with an outstanding balance then the lender may have to “restructure” your account. This means that the lender has to recalculate what your outstanding balance would have been if you had not been mis-sold the PPI policy. In this case, the remaining portion of the single premium PPI will have to be removed from the outstanding debt. Therefore, you will receive the monies you have paid towards the PPI in cash and then by removing the rest of the PPI charge the balance of your outstanding loan should be reduced.
|Of which amount “offset” against your loan balance||
|Remaining amount paid as cash||
|Our Fee (15% plus VAT (18% total)) which is based on the total compensation of £2,500||
|Net amount of compensation received by you as cash (£1,000 less our fee of £450)||
Example 3 – Where all of the compensation is used to repay arrears and/or capital on your credit account.
If you still owe money or have arrears on your credit account then the lender may use the compensation to pay the balance or any arrears before making payment to you. This means you may not receive any cash if the lender uses the compensation in this way. If you have been issued with a “default notice” and your account has been terminated then the lender may use the compensation to pay towards your outstanding balance as in the table below. Let’s assume that the full amount of your loan or arrears (£1,500) is outstanding. Your compensation of £1,500 will first be used to pay any arrears or balance, so you will not receive any cash benefit. You will still be liable for our Fee, however.
|Amount used to repay the outstanding loan balance/arrears||
|Remaining cash benefit||
|Our Fee (15% plus VAT (18% total)) which is based on the total compensation of £1,500||
|Amount due to Us by You||
7. Can I claim if I am in a debt management plan, an IVA or have been made bankrupt?
Unfortunately, we are unable to process claims if you are already in an IVA or a debt management plan.
8. Why should I use Canary Claims?
You may make a complaint about the mis-selling of payment protection insurance directly to the advisor, broker or the bank who sold you the policy. You must do this in writing. If you are unhappy with the response, you may appeal to the Financial Ombudsman Service within 6 months of receiving the response. By appointing Canary Claims you will be using an experienced and well-established claims firm that will be working hard for you to get you the compensation you may be entitled to.
9. What if I’m not happy with the service you provide?
We pride ourselves on the high level of customer service that we provide, but if you feel that we haven’t delivered then we would like to hear from you. We have full complaints handling procedure and you will find a copy of this on the reverse of this page.
10. Can I change my mind?
You can change your mind within 14 days of signing the agreement. You should tell us you’ve changed your mind in one of the following ways:
By emailing us at:
By writing (registered post):
Canary Claims, Claims Thru Us Limited, Unit 1, Meridian Trading Estate,
20 Bugsby’s Way, London SE7 7SJ
11. What if I change my mind after the 14 day period?
You can change your mind after the initial cooling off period and cancel your claim at any time. Claims cancelled outside the cooling-off period may be subject to a cancellation fee in accordance with Clause 6(c) of the Terms and Conditions, but the cancellation fee will never be more than £150 plus VAT (£180 total).
Claims Thru Us Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities. Our authorization number is CRM2233 which can be checked on the website www.gov.uk/moj/cmr