What is your fee charged on and how do we pay?

There is absolutely nothing to pay upfront. If we are successful we charge 25% plus VAT of any sum we win for you. Where VAT is 20% that means we charge £30 for every £100 you are awarded, so if your compensation is £1,000 our total fee would be £300. You don't pay anything if we are unsuccessful. However, if you write to us to terminate your contract with Renaissance Easy Claim after your 14 day cooling off period and prior to a settlement offer, we may charge you reasonable costs for the work carried out.  The provider we are complaining to on your behalf will pay your compensation directly to you (not us) and we will send you an invoice for our fee. This is payable within 14 days of the invoice date, or within 14 days of receiving the compensation, whichever is the later.

If your loan is still going, then your lender may either compensate you partly in cash and partly by reducing your loan balance or, possibly, by taking the entire amount off your loan. You may also benefit from reduced loan repayments once the PPI is removed.

However, our fee of 25% + VAT is calculated on the refund of premiums plus the related and compensatory interest, and not on the financial benefit you may see on future payments.

If you have a credit card which has an outstanding balance, it is likely the compensation will first be applied to reduce the balance on the card, with any residual being paid to you in cash.

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Is there anything to pay Renaissance Easy Claim upfront?

No. If we are unsuccessful with your complaint you won't owe us a penny and you don't pay Renaissance Easy Claim anything upfront.

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How much am I likely to win?

We can't say at this stage but the compensation is likely to be a full refund of the premiums you paid plus interest. Therefore the amount you get will depend on the size of your premium and when your loan or credit card started. For example the interest element could be quite substantial if your policy started a long time ago. If the PPI premium was added to your loan, then it is likely the bank will compensate you by reducing your loan balance so the loan will finish earlier or it may be repaid in full and/or you may get cash back depending how far through the loan you are. Similarly, if you still have an outstanding balance on your credit card then, if your claim is successful, it is likely that the card provider will repay you by reducing your credit card balance or it may be repaid in full and/or you may get cash back depending on the credit card balance at the time.

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If I complain will it affect my policy?

Yes. In the majority of cases, what we are complaining about is the fact that you should not have been sold the policy in the first place because it was not right for you. If we are successful with your complaint, your compensation is likely to be a full refund of all your premiums plus interest and your cover will cease.

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How long does the process take?

This varies a lot. It could be 2-3 months but if we have to take your case to the Financial Ombudsman Service, it could be 6 months or longer. However, you do not have to pay us anything until you get your compensation at the end.

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What is the process?

Once we have received your signed Authority and Agreement form, we will write to you to acknowledge receipt and advise you that you have 14 days to change your mind. If we don't hear from you during the 14 days then we will assume you still wish to proceed and will go ahead and prepare the complaint on your behalf.

We will complete all the necessary forms to make the complaint on your behalf, based on the information you provided over the telephone or via our website and confirmed in your Summary of Complaint. We may need to contact you for more information at this stage. Where necessary, we will then send the forms to you to sign. Please note that, if your signature is required, you are responsible for ensuring that the contents of the completed forms are accurate to the best of your knowledge and you will be signing to confirm this.

Once we have all the information and documents we require, we will send your complaint to the company that sold you the policy who will start their investigation. If they have any further requests for information we may need to contact you again. We will normally get a decision from the company within 2-3 months. They may agree that they mis-sold you and offer compensation or they may reject your complaint. Some companies offer compensation which they call a 'goodwill payment' even if they do not admit they mis-sold you. In any event, we will contact you to inform you of the decision. Should you receive an offer from the company directly and haven't heard from us within a day or two, please get in touch.

Once we have an offer of compensation and have checked the amount offered, you will need to sign an acceptance form from the company and send it on to them. Payment usually follows within 2-3 weeks after you have returned your acceptance. The company should pay the compensation direct to you (or credit your loan or credit card account) and we will invoice you for our services.

Should your complaint be rejected, we may, if we feel it is appropriate and we have a good enough case, take your complaint to the Financial Ombudsman Service (FOS) for adjudication. If this happens we will contact you to let you know. Unfortunately, the FOS may take 6 months or more to deal with your case, as they generally have a large backlog, however, our fee remains the same. We do not charge any extra for referral to the FOS.

Sometimes, having taken on a case, it proves to be something we didn't expect, for example, through no fault of the customer, we may find that the policy was sold by an independent financial adviser, or we may find you are out of time to make a complaint. In any event, if we are forced to drop a case at any time during the process we will let you know.

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Can I still complain if I no longer have the policy?

You can as long as you still have the policy, loan or credit card details and you did not get any payout of benefits under the policy while it was in force.

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What is time-barring?

These are rules laid down by the Financial Conduct Authority (FCA) which allow companies to say people are out of time to make a complaint. The rules are fairly complex but you may be out of time, for example, if you tried to claim benefits under the policy and had your claim refused more than 3 years ago.

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Can I complain myself and if so why should I go through you?

You are of course free to make the complaint yourself. If on the other hand you feel daunted by the process or don't have the time to fill in all the forms and liaise directly with the company you are complaining to, Renaissance Easy Claim offers a hassle free alternative. Whether you choose to use our services or not, if you have a mis-sold PPI policy the important thing is to act so that you do not miss out on any potential compensation.

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What experience does Renaissance Easy Claim have?

We are a specialist Claims Management Company and have been concentrating on winning compensation for victims of financial mis-selling since August 2004 and have won in excess of £125 million for our customers. We have particular expertise in the field of Payment Protection Insurance as well as many years of commercial experience in the Financial Services Industry, so we know how these companies work and how to deal with them.

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