Terms and Conditions

1. WHAT IS RECLAIM MY MONEY LTD?

Reclaim My Money Ltd is a claims management company registered in England & Wales under company registration number 12838621, registered office address 85 Gresham Street, London, EC2V 7NQ. Reclaim My Money Ltd is authorised and regulated by the Financial Conduct Authority, firm registration number FRN 934965. These details can be confirmed by visiting the Financial Services Register, www.fca.org.uk/register.

2. WHAT WILL RECLAIM MY MONEY DO FOR YOU?

We will investigate potential car finance claims we identify during the course of our investigation. This means that we will try to establish whether you have had car finance and whether it was mis-sold to you. To enable us to do this, we may request information from your car finance provider(s) to confirm if you had car finance and, if so, obtain details of your agreement(s). This may include requesting a full Data Subject Access Request from the car finance provider(s).

We will pursue your claim and will enter into correspondence and negotiations with your car finance provider on your behalf.

Once we have established the details of your car finance agreements and if we believe that it was mis-sold to you, or if your credit agreement was unfair, we will write to your car finance provider explaining why we think it was mis-sold, or why we believe your credit agreement was unfair, and invite them to make an offer of compensation. Your car finance provider has up to 8 weeks to provide a final response, but it is not unusual for the response to take longer than this.

We will tell you when we receive an offer of compensation and advise you to accept it if we believe it to be adequate. If your claim is rejected by the car finance provider, and we think you have a good chance of success, we will ask for your consent to refer it to the Financial Ombudsman Service for a decision. We will keep you informed at every stage of the claim, and you can contact us whenever you would like an update.

We will provide you with regular updates (every 6 months or as and when we receive an update) by phone, post, email, and SMS regarding the progress of your claim.

In some circumstances, such as where the original car finance provider no longer exists, it may be necessary to refer your claim to the Financial Services Compensation Scheme.

We will always act in your best interests when pursuing your claim and achieving for you the best results realistically obtainable.

If your claim is successful, your car finance provider will send the compensation payment to you directly. We will then forward an invoice to you which is payable within 14 days of receipt.

3. WHAT WON’T RECLAIM MY MONEY DO FOR YOU?

• Guarantee to win a claim we accept and pursue.
• Give/offer you financial advice.
• Pursue a claim that in our opinion has no realistic chance of success, and we reserve the right to cancel this Agreement if we form this opinion.
• Tell you to accept an offer we consider to be insufficient or to reject an offer we consider adequate. We reserve the right to cancel this Agreement if you decide to accept an offer of compensation we consider insufficient or to reject an offer we deem to be adequate.
• Accept an offer of compensation on your behalf without your agreement.
• Take your case to court (although we will inform you if we think you should).
• Coach you to answer any questions.

We need you to tell us if you have ever been declared bankrupt or are subject to a bankruptcy petition or are subject to, or have ever been subject to, an individual voluntary arrangement or have proposed an individual voluntary arrangement which is yet to be approved or rejected by creditors or are subject to or have ever been subject to a debt relief order. It’s also vital that you let us know if you have any outstanding liabilities with your finance company. This is important information because any compensation paid to you by your finance company may be offset against any outstanding debts. If this happens and you haven’t made us aware of this information, then our fees may still be payable.

4. WHAT DO WE REQUIRE YOU TO DO?

• Provide all relevant information we may request without delay, to enable us to pursue your claim efficiently.
• Provide us with clear instructions.
• Fully cooperate with us.
• Not to mislead us, provide false answers to questions, or ask us to act in an improper or unreasonable way.
• Contact us immediately if you receive payment from the car finance provider.
• Provide us with the sole authority to process your claim for the duration of the contract.

5. OUR FEES

The payable figure is before any offset of outstanding debts.

The fee illustration is not an estimate of how much money we will recover for our client, and our fee could be more/less than the fee illustration.

If we do not succeed in obtaining any compensation, you pay us nothing.

If a claim is successful and compensation is awarded, we will charge you between 15% plus VAT (18% in total) and 30% plus VAT (36% in total) of the total value of each successful claim if more than one. The amount we charge will depend on the amount of compensation you receive as set out in the Financial Conduct Authority’s fee cap for Claims Management Companies as detailed in the table below:

Note: Total compensation means the actual amount of each successful claim before any tax is deducted by the car finance provider and before we deduct our fees.

6. PAYMENT OF COMPENSATION & FEES

The finance provider / bank will send the compensation payment to our designated client account. We will then process the payment within 2 business days and pay your compensation by BACS, the net of our fees (including VAT).

In the event the finance provider / bank sends the compensation payment to you directly, we will invoice you and you must then pay our invoice within 14 days of receiving the invoice. Payment should be made by BACS, cheque or card.

To pay by card, please call us on +44 (0) 203 337 2888.

7. CANCELLING THIS AGREEMENT

We can terminate this Agreement at any time. There will be no fee payable if we tell you your claim is unlikely to succeed, and you have fulfilled your obligations (as laid out in section 4 of this Agreement). You have the right to terminate this Agreement, and there will be no fees payable if you terminate after 14 days from the date of this agreement unless you receive a refund. Termination of this Agreement must be given in writing and sent to: Reclaim My Money Ltd, 85 Gresham Street, London, EC2V 7NQ or you can email to: contactus@reclaimmymoney.com. Any cancellation must be made by way of a cancellation notice or by a clear statement to us. If you have received an acceptance of liability or an offer of compensation which is in accordance with the Financial Conduct Authority, Financial Services Compensation Scheme, and Financial Ombudsman Service guidance, the full fee as stated in clause 5 will be due.

8. COMPLAINTS PROCEDURE

Should you have a complaint, you can contact us by writing to The Compliance Department, Reclaim My Money Ltd, 85 Gresham Street, London, EC2V 7NQ, by phoning us on +44 (0) 20 3337 2888, or by sending an email to compliance@reclaimmymoney.com.

9. DATA PROTECTION

We will hold, control, and process your personal information in accordance with the Data Protection Act 2018. By providing your personal information to us, you explicitly authorise us to process the information for the purpose set out in this paragraph.

You can at any time request a copy of all information we hold relating to you by writing to us (a written Data Subject Access Request in accordance with the Data Protection Act/UK GDPR).

We will use the personal information you provide to assess your claim and carry out our duties in accordance with this Agreement.

We may share your personal information with other companies if necessary during the process of your claim for compensation or any financial matters we believe may be of assistance to you.

Your personal information may also be processed by other organisations on our behalf for the purpose of processing your claims and providing information or services to you. The use of your personal information for these purposes will remain under our control at all times.

We may disclose your information to our partners, associates, agents, or subcontractors and to possible successors to our business.

We may, from time to time, expand or reduce our business, and this may involve the sale and/or the transfer of control of all or part of Reclaim My Money. In this case, your data will, where it is relevant to any part of our business so transferred, be transferred along with that part, and the new owner or newly controlling party will, under the terms of this privacy policy, be permitted to use the data for the purposes for which it was originally supplied to us.

Please view our Privacy Policy for full details of how we process your personal data.

10. OTHER WAYS TO CLAIM

You are entitled to seek further advice in relation to your claim and to consider what services might be most appropriate regarding your claim for compensation. You don’t have to use a claims management company to make a claim. You have the right to shop around, or you could make a claim directly to your lender or the Financial Ombudsman Service for free. For more information on their services, visit the FOS website here.

11. TERMS AND CONDITIONS

These terms and conditions have been in force since the 20th October 2023.

A copy of the terms of engagement can be found on the reverse of the welcome letter. Please keep this letter safe, as this is your contract between you and us.