Our Mis-Sold High Cost Loan Claims Procedure
We realise that claiming against a high cost loan lender can seem daunting. We aim to make the claiming process as simple as possible. High cost loan claims is all that we do. Our experienced team will communicate with the lender (and where required, the Ombudsman service) on your behalf. We use bespoke technology to ensure efficient claims handling. Throughout the process, we inform you of claim progress using a “stage process”, so you can track your progress easily. Please remember though, that you do not need to use a claims management company to make your complaint to your lender, and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
Pre complaint investigation and analysis
Formal mis-selling complaint made
Lender responds with a Final Response Letter
If appropriate resolution cannot be reached with the lender, referral to Financial Ombudsman Service.
Stage One – Application form completed
You complete an application form providing us with the information that we will need to act on your behalf.
Once we receive your application, we will submit it to you for you to check, sign and then return to us by freepost. We will then submit your high cost loan reclaim documentation directly to the lender.
Stage Two – Mis-sold high cost loan claim submitted to the high cost loan lender
Having submitted your high cost loan claim paperwork to the provider of your high cost loan we will monitor its progress periodically to make sure that a reply is received within an acceptable timescale.
Stage Three – Decision received
Having received a decision from your high cost lender we will communicate this to you and, subject to any offer that is received, we will recommend an appropriate course of action to you. We will then follow your instructions in negotiating, if required, with the high cost loan lender.
Stage Four – Refer the case to the Financial Ombudsman Service
Should we not be able to come to an agreement over an acceptable financial settlement with the high cost loan lender, the case will be referred by us, on your behalf, to the Financial Ombudsman Service who can make a recommendation to the parties. If the parties can’t agree, the Ombudsman can make a binding decision. We will communicate developments to you.
Should you win the case and be entitled to a cash sum, we will contact the high cost loan lender to arrange payment.
Please note that the timescale involved in processing high cost loan claims can vary from around 4 weeks to 24 months. However, you can be reassured in the knowledge that we will progress your case with all reasonable promptness.