Mis-sold PPI

Payment Protection Insurance is designed to cover your loan or credit card repayments for a year in the event of you being unable to work due to an accident, sickness or unemployment.

 Although it was sold with credit agreements to protect both you and the lender in the event that you were unable to make your repayments, many people are paying for PPI and don’t have the protection they thought they had. For example, people with pre-existing medical conditions when taking out their cover may find that they are not entitled to claim on their policies despite having paid for PPI. Some self-employed people will also find that they have been paying for cover that is not actually suitable for them.

PPI Can Add To Debt Problems

Debt Advisory Services (Scotland) Limited offers a range of debt solutions to help people living in Scotland deal with their debt problems. Many of our client’s problems have been made worse by having to pay high insurance premiums for Payment Protection Policies that have, in some cases, been mis-sold to them.

Single Payment Policies

Single premium PPI policies have been highlighted by the FSA as being unfair. You may be able to make a claim if you hold one of these and have paid off your loan early or had a change in your circumstances.

Payments for PPI will either be made on a month by month basis or paid up front for the whole policy covering the full duration of the loan agreement.

If you have taken a single payment policy, the policy premium would have been added to the loan and then interest would be added on top of it. This results in you borrowing the money to pay for the policy.

If you have been mis-sold a single premium policy, you are entitled to claim back the premiums, as well as the interest you were charged.

The fee for our Payment Protection Scotland claims service is 18.5% of the total award paid by the lender.

No Win – No Fee

Our Scotland PPI claim service operates on a no win no fee basis, if your claim is unsuccessful, we won’t charge you a penny.

No Upfront Costs

No upfront fees are required to be paid for our Payment Protection Scotland claims service.

If you have taken out a Loan, Credit Card, Mortgage or any other finance in the last 10 years, you may have been mis-sold Payment Protection Insurance (PPI) and as a result, you may be able to claim back £1000’s in compensation.

These Terms and Conditions set out the Terms of Engagement for the appointment of “The Debt Advisory Service (Scotland) Limited” (DAS) (We), to act on the Client’s behalf in all aspects of the administration and negotiation of the Claim. Please read the terms carefully to ensure that You understand them before signing the Letter of Authority.

Definitions

1.1 “Claim(s)” means the Client’s claim or claims against the company relating to the
mis-selling of payment protection insurance policy or policies to the client.

1.2 ‘’Client” means the policy holder(s) whose details are set out in the Letter of Authority and who have appointed (DAS) to provide the services

1.3 “Company” means the Financial Institution and or persons to whom the Letter of Authority is addressed being the Insurance company, Bank, Building Society, Credit Card company or Financial Advisor of any other entity which sold the policy or gave the advice to the client including any employee, director, agent, representatives and associates of said entities or any other entity and or any of the predecessor(s)

1.4 “Compensation” means any sums paid or awarded as calculated at the time of the award that would not have been paid if the Claim had not been made.

1.5 “Fee” means the fee of 18.5% plus VAT of the total redress (total compensation before HMRC’s deduction) payable to DAS for our services, including assessing the viability of preparing, submitting and negotiating your claim.

1.6 ‘’No Win No Fee’’ We will undertake your claim on a ‘No Win No Fee’ basis. This means that we will not charge you if you do not receive compensation.

The Client Will

2.1 Conduct of Engagement

By signing and returning the Letter of Authority, the Client hereby agrees to be bound by the terms and appoints DAS to provide the services for such period as to allow them to assess and if reasonably possible to complete the Claim.

3.1 Letter of Authority

By completing and signing the Letter of Authority, give DAS, his/her/their consent and full Authority to deal with the Company on the Client’s behalf and to obtain relevant information from whatever source on a continuing basis.

3.2 Deal promptly

With every reasonable request by DAS for information, authorities and any documents and further instructions that they may from time to time require.

Failure to do so will give DAS the right to terminate this Agreement forthwith.

The client will promptly inform DAS of any relevant matters affecting the claim.

3.3 When the compensation be paid directly to the client, DAS will invoice the Client for the Fee which will become payable by the Client to DAS within 14 days of receipt.

3.4 In the event of compensation being used to reduce the client(s) outstanding balance on their loan or credit card account, the client will be responsible for settling the Company’s fees as set out above.

In such instances the Company will accept part payment equal to at least 10% of its fee on a monthly basis.

3.5 Give DAS the right to deal exclusively with the Claim unless otherwise agreed in writing by the Client and DAS.

3.6 The client will not be liable for any charge in respect of the Claim if the Claim is pursued and the Company pays no compensation

DAS Will

4.1 Rely on the information and documents provided by the Client to DAS as being true accurate and complete. DAS will not audit test or check such information or documents except where it has a legal obligation to do so.

4.2 Use its reasonable endeavours to obtain the maximum Compensation for the claims which are pursued.

4.3 Accept no liability for an unsuccessful Claim or for the amount of Compensation paid to the Client.

4.4 Promptly notify the Client of the outcome of the Claim.

4.5 As soon as it is reasonably practicable following the settlement of the Claim and the payment of Compensation by the lender is made to DAS, pay the Client the balance of the Compensation after deducting our fee.

4.6 Preserve confidentiality including the Client’s personal information even when this agreement is terminated and the Client is no longer a client save as expressly or implicitly authorized to the contrary including where disclosure is made at the Clients request or with the Clients consent in relation to pursuing the Claim or where otherwise required by law.

Limitations on our services and liability

5.1 Where the Bank makes an offer of a Settlement Amount, we are under no obligation to verify the calculation of the amount other than to confirm that statutory interest has been applied by the Bank as required under the process rules of the Financial Conduct Authority.

5.2 When an offer of compensation has been received from the lender, it will be the client’s sole decision whether to accept the offer as settlement of the claim. Should you decide to refuse the offer of compensation, you should advise us immediately so that we can advise the lender accordingly.

5.2 If any form of tax is payable by You or on your behalf in relation to the Settlement Amount (such as income tax which is payable by You in respect of the interest paid to You as part of the Settlement Amount), You shall be fully responsible for such payment and We shall have no responsibility to make such payment on your behalf.

5.3 We shall have no liability to You for any loss to the extent it arises as a result of the information provided by You in connection with your Claim being inaccurate or incomplete.

5.4 We shall under no circumstances be liable to You, whether in contract, tort (including negligence), breach of statutory duty or otherwise, for loss of profit, loss of business or depletion of goodwill in each case whether direct or indirect (howsoever caused) in each case which arises out of or in connection with the Agreement. Nothing in the Agreement shall exclude or limit any liability of ours which may not be legally excluded or limited.

Disclaimer

6.1 DAS accepts no liability for any loss suffered by the Client entering into this Agreement and specifically, in the event that no Compensation is paid to the Client by the Company. Any claim by way of consequential damage arising out of any act or omission or commission by DAS is specifically excluded.

6.2 You are aware that you could complain directly to the Company at no cost with the ability to take matters further with the Financial Ombudsman Service yet still wish to pursue your claim with DAS.

6.3 Please note that you have fourteen days which starts from the date you signed the authority to cancel your authority instruction for us to act on your behalf.

This agreement is a legally binding contract. By signing the contract, you are in agreement for the Debt Advisory Service (Scotland) Limited to act on your behalf in respect of claiming back your mis-sold PPI payments.

You are confirming that you have passed all of the relevant documentation to DAS in respect of this/these claims.

If you have taken out a Loan, Credit Card, Mortgage or any other finance in the last 10 years, you may have been mis-sold Payment Protection Insurance (PPI) and as a result, you may be able to claim back £1000’s in compensation.

Cancellation

You have 14 days from the date you sign and submit your claim to Debt Advisory Services Scotland (this is known as the ‘Cooling Off Period’) at no cost to you.

A request to cancel can be made by telephone or in writing.
If you cancel after the cooling off period, you will be subject to a cancellation charge.
Cancellation fees will be charged at a rate of £50 per hour for the work undertaken.
Any cancellation after an offer has been made by your lender(s) will be subject to be invoiced at the rate equal to the fee due from the award.

If you have taken out a Loan, Credit Card, Mortgage or any other finance in the last 10 years, you may have been mis-sold Payment Protection Insurance (PPI) and as a result, you may be able to claim back £1000’s in compensation.

Frequently Asked Questions

Do I have to pay any fees upfront when submitting my PPI Scotland claim?

As we work on a strictly no win – no fee basis, no upfront payments are required.

How much can I expect to receive by means of compensation?

If your PPI Scotland claim is successful, the amount you will receive is depends on various factors. such as how much you had borrowed and when you borrowed it.

I knew that I had taken PPI, can I still make a claim?

Yes, you can still make a claim if the policy sold was not fully explained to you or was mis-sold.

I don’t have any account numbers; can I still claim for mis-sold PPI Scotland?

Yes, you can still make a claim. We don’t always need account numbers or paperwork to start your claim.

How long does it take to settle my claim?

Times vary case by case, factors including: whether your lender requires more information, if they choose to accept or reject the claim will impact on the time taken to settle your PPI Claim.

Will making a claim affect my credit rating?

Making a claim for mis-sold PPI Scotland will not affect your credit rating.

If you have taken out a Loan, Credit Card, Mortgage or any other finance in the last 10 years, you may have been mis-sold Payment Protection Insurance (PPI) and as a result, you may be able to claim back £1000’s in compensation.