Our Terms of Agreement
Your Money Back is a claims management company Authorised and Regulated by the Financial Conduct Authority.
We operate a strict No Win – No Fee policy, which means that if we are unsuccessful in obtaining a settlement from your Lender then there is no cost to yourself. This also means that if you are unsure if you had PPI on your policy or if you were mis-sold a PBA, then you can be re-assured that we will be happy to pursue an investigation with your lender at no cost to yourself and that you will only pay our fee if you were mis-sold and your claim is successful.
This sets out the terms by which you are entering into an agreement with us for the provision of Claims Management Services arising from the mis-selling of Payment Protection Insurance (PPI) and Packaged Bank Accounts (PBA). By entering into a contract you are authorising us to act on your behalf in pursuing claims against financial organisations and associates for any mis-sold PPI or PBA identified by you, or subsequently identified by us in investigating your claim. You agree to provide us with all relevant and necessary information to pursue your claim, and any additional information we may request from you that may be required during the claims process and that all of the information you provide to us is true to the best of your knowledge. From time to time a lender or financial organisation may contact you directly during the course of your claim, if this happens you agree to contact us at the earliest opportunity and forward all relevant information and correspondence to us. If an organisation contacts you with an offer of settlement you must contact us at the earliest opportunity and not engage in a negotiation or accept an offer without our involvement. Doing so will be in breach of your contract with us.
The fee for our service is 20% + VAT of the total amount awarded in settlement by your lender or associated party. You agree to pay Your Money Back Limited within 7 days of receipt of funds from the bank or financial organisation. If your claim is rejected by the bank or financial organisation and we refer your claim to the Financial Ombudsman, if your claim is successful, our fee still applies.
Example of Our Fees
If your settlement is £1000, then our fee of 20% is £200 + VAT = £240 and your keep £760. Please be aware that if your settlement is used to clear any outstanding debt to the lender, our fee is still payable in full.
If your settlement is £3000, then our fee of 20% is £600 + VAT = £720 and your keep £2280. Please be aware that if your settlement is used to clear any outstanding debt to the lender, our fee is still payable in full.
If your settlement is £10000, then our fee of 20% is £2000 + VAT = £2400 and your keep £7600. Please be aware that if your settlement is used to clear any outstanding debt to the lender, our fee is still payable in full.
Example of our Fees where there is outstanding Debt:
If your settlement is £1000 but you owe £200, then your cash settlement will be £800. Our fee of 20% + VAT is still payable at £240 and you will receive £560.
If your settlement is £3000 but you owe £1500, then your cash settlement will be £1500. Our fee of 20% + VAT is still payable at £720 and you will receive £780.
If your settlement is £10000 but you owe £10000, then your cash settlement will be £0. Our fee of 20% + VAT is still payable at £2400 and you will receive £0.
Termination of Agreement
If for any reason you wish to cancel your agreement with us, you may do so within 14 days of signing the agreement and you will owe us nothing. We reserve the right to terminate our agreement with you at any time, although it remains in our interest to pursue your claim to a successful settlement. Entering into a contract with Your Money Back Limited is by choice and you are free to shop around or look into raising a complaint yourself directly with the bank or financial organisation or to take matters further by contacting the Financial Ombudsman Service.
Not Completely Satisfied?
You should find all of our Claims Managers and other staff polite, courteous, friendly and helpful. If however you are not completely happy with our service please be re-assured that we will take any complaint seriously and we will always do everything we can to put things right. Complaints may be made in writing, by email, by telephone or in any other form as regulated by the Compensation Act 2006. For our full complaints procedure please visit our website www.your-money-back.co.uk or contact us and we will forward a copy.
Your Money Back Ltd
The HQ Building