You do not need to use a Claims Management Company. You can make the claim directly to the lender and if they reject your complaint you can take it to the Financial Ombudsman Service free of charge, but you must do this within 6 months of the lenders Final Decision Letter.
This agreement is formed between Redbridge Finance Limited a Company registered in England & Wales with Company Number 10625599 which has a Registered Office at Highfield, Crossing Lane, Claydon, OX17 1EX. (Redbridge, Us, We, Our).
Redbridge Finance is a Claims Management Company that is Authorised and Regulated by the Financial Conduct Authority. Firm Reference Number: 836097.
Redbridge Finance Limited is registered with the Information Commissioners Office for Data Protection purposes with registration number ZA533663
Your name and address will be entered here on the actual agreement
When signed this Terms of Business form a contractual agreement between the parties detailed in Section 1 whereby:
Redbridge will represent You in making a claim against the lender(s) who have previously provided You with Loans or other Credit that You believe may have been granted irresponsibly.
You will remunerate Redbridge for providing this service, on a No Win – No Fee basis as detailed in Section 8 of this agreement.
Before signing this Terms of Business You should read Our ‘Pre Contractual Information’ document. This provides useful information including the process that will be followed, the obligations on You, and other information that will help You determine whether this agreement is suitable for Your needs. A copy of this information can be viewed by visiting Pre Contract Link at any time, or if You prefer You can request that this document is emailed to You.
When You instruct and authorise Us to make a claim on Your behalf You agree to Us contacting the 3rd parties that We need to in order to make and manage that claim. You agree to Us sharing with them the information You have provided to Us and also collecting and processing the information We receive from them.
During the process, We will need to make decisions on the best way to proceed and You give Your authority for Us to use Our skill and judgement to make such decisions on Your behalf.
Unless You have specifically provided details of agreements that You DO NOT want Us to make a claim on, if during the course of a claim, the lender reveals other credit that You have taken with them, We may, at Our discretion, extend the claim to cover these. In such circumstances, these loans will be covered by this agreement and the respective success fees will be payable.
i.You agree unless a legal or statutory requirement dictates otherwise, to receive all written communications from Us by email to the email address supplied by You. We may also use the post to send such communications.
a.We will manage Your claim with reasonable care and diligence to ensure that where there has been a case of irresponsible lending, We maximise the possibility of You getting what you are entitled to.
b.We will assist You to fill in any necessary forms and where appropriate check the details You have provided, however We will NOT “coach” You on how to fill in these in order to maximise the claim value where this would result in inaccurate information being entered. All answer, statements or declarations are Your responsibility.
c.We will keep You updated on the progress of Your claim as it progresses.
If We do not feel that the claim has sufficient merit to be continued We will advise You of this. We will then release this loan from this agreement to allow You to proceed with the claim yourself if you wish. (Please note, if We do this only that loan is released from this agreement – any other loans not notified under this clause will still be pursued by Us and a success fee is payable.)
d.We have an obligation to ensure that We avoid any conflicts of interest. We, therefore, have the right to refuse to take on a claim, or where a claim has been started, terminate this agreement, if we suspect that this would be the case. We will provide details to You or why We are unable to continue with the claim.
All claims are undertaken on a No Win – No Fee (NWNF) basis. Our success fee will be 25% + VAT (30% including VAT) of any compensation received, this includes any refund of capital, interest, charges, but excludes any amounts written off an outstanding debt as a result of the claim.
Illustration of Fees:
Compensation Amount £1,000. Our Fee £250 plus vat (£300 including vat). You get £700
Compensation Amount £3,000. Our Fee £750 plus vat (£900 including vat). You get £2,100
Compensation Amount £10,000. Our Fee £2,500 plus vat (£3,000 including vat). You get £7,000
Where You refuse to accept a compensation offer You will still be liable for Our fees including if the case is referred to the Financial Ombudsman Service (FOS) for their arbitration. If an offer is rejected by You after the FOS have reviewed the case you will still be liable for Our success fee.
You must notify Us within 5 days of knowing that payment is going to be made directly to your account. We will provide You with an invoice which must be paid within 5 days of receipt of payment from the lender. If an invoice remains unpaid after 5 days an arrears fee of £20.00 will be payable.
If we are made aware or suspect, that a final response to a complaint has been issued, and the lender refuses to send us a copy, we will ask you to supply this in accordance with clause 6h of this agreement. If you refuse to do this we will assume that an offer of redress has been made. As we will not know the value of the redress offered we will not be able to calculate our fees based on the 25% + VAT (30% total) of that amount. In these cases, we will calculate our fees based on 25% + VAT (30% total) of the average of all offers received from that lender over the preceding 12 months. An invoice will be raised and will become payable within 5 days. If you subsequently send us a copy of the final response received from the lender we will recalculate our fees based on the actual redress offered. An admin fee of £100 plus vat will be charged in this situation.
Where our fees remain unpaid, we reserve the right to charge Debt Collection Fees as follows: Arrears Fees £20 per month, Legal Fees (uncapped), Court Fees £500, Warrant Fees £77, High Court Writ £66, Attachment of Earnings £110, Track and Trace Fees £171 and any other fees incurred.
Your right to cancel.
You have the right to cancel your contract before an offer is made by the lender without giving any reason. However, if you cancel after two weeks without providing an acceptable reason we will charge for time spent on your case. If you cancel after the case has been submitted to the FOS, and no further input is required from you, you will still have to pay our fees of 30% including vat of any award recommended by the FOS.
To exercise the right to cancel, you must inform us of your decision to cancel this contract by a clear statement (e.g. a letter sent by post or email). You may use the Cancellation Form, but this is not obligatory.
Cancellations after an offer is made.
If you cancel after an offer of compensation has been made our success fee as detailed in Section 8 of this agreement will be payable.
Cancellation (ALL CASES)
If you cancel our services at any time:
We will contact each of the lenders (and where applicable the FOS) where there is a live claim in progress, by email, and advise them that You have cancelled Your agreement with Us and that We are no longer representing You in Your claim(s) against them.
We will not cancel or withdraw the complaint with the lender, or the FOS, and they should, therefore, continue to investigate the complaint and issue a final response. It is Your responsibility to manage any complaint with the lender or the FOS going forwards, including ensuring any deadlines that occur after the date of cancellation are observed.
If We receive any correspondence from the lenders or the FOS they will forward it to You at the email address You have provided to Us, or that You update from time to time. We will make no comment nor give any advice on such communications received and forwarded to You.
The notice of cancellation must be sent by post or emailed to email@example.com
If you breach any clause in this agreement the following will apply:
a.We will notify you of what you have done to cause the breach and what needs to be done by you to fix it. We will give you a period of 14 days to carry out the actions needed in order to resolve it. If this is not going to be possible you must contact us so that we can agree a mutually suitable plan to allow us to continue to represent you under this agreement.
b.If you fail to resolve the breach within the period specified in (a) above we will deem this to be a cancellation of the agreement and as such cancellation fees will be payable in accordance with clause 9 of this agreement.
You have the right to complain about Our service at any time. If You are still unhappy after We have responded You have the right to refer the complaint to the Claims Management Ombudsman. Full details of Our Internal Complaint Procedure can be found at http://www.redbridgefinance.co.uk/complaints-procedure. If You would like a copy sending to You please contact Us and We will arrange this.
We shall not be liable for any costs or losses caused to You as a result of:
a.Delays caused by You in providing information or documentation requested by Us.
b.Delays in the transmission or delivery of information or documentation caused by email service providers or the postal service.
c.Failure of information or documentation sent between You and Us to arrive with the other party.
d.Any other matter which is outside of Our control.
Before you sign this agreement you must read the terms carefully. You must also read our Pre Contractual Information document. If there is anything that you do not understand in either document you must ask us for additional information or clarification before you sign this agreement.
I confirm that I have given Redbridge Finance Limited all documentation, including that in electronic form, that I know about which is relevant to the claim.
Signed ________ ________ Date ________