Terms & Conditions
1. YOUR ASSESSMENT
In making your claim through Consumer Savings Network (CSN), you acknowledge that you are aware that you can pursue the claim/s yourself directly with the car finance company/s or dealership/s and if unsuccessful use the free Financial Ombudsman’s Service but elect to use our services. Our attached information sheet headed ‘What we can do & why we can’ contains objective information for you to consider before signing. If you are still uncertain, please contact us for any further explanations which you need before making up your mind.
We will gather information from you & from vehicle finance companies, dealers, auto-traders on any and all vehicles where it is established you have taken out finance between 7th April 2007 and 28th January 2021. We will write to determine if you were affected and where a claim is determined, forward a carefully prepared claim with supporting documents based on the FCA guidelines for compensation and any breaches of FCA Rules, Guidance and Principles we have determined in your case. We will contact you whenever further details are required or when we have received a refund offer from the finance company usually in the form of a Settlement Agreement for you to sign & return. The settlement offer may be for all or for part of the losses incurred & will be at your discretion to accept or refuse. If a reasonable offer is refused &no other higher offer can be obtained through normal negotiation our fee will be based on the highest offer awarded. We will settle your claim without the need for court action, so there are no other costs to worry about. If you have a liability to the firm (for example, if you owe them money) the firm may off-set any redress against these liabilities. In this instance you will still need to our Fees.
3. FEES
CSN will seek to reclaim any & all losses you have incurred due to the agreement. Our fees are as follows:
Band Redress awarded to Client in £
1 £1 – £1,499
2 £1,500 – £9,999
3 £10,000 – £24,999
4 £25,000 – £49,999
5 £50,000 or above
Band Our Fee as a Percentage rate Plus VAT
1 30%
2 28%
3 25%
4 20%
5 15%
Band Up to a Maximum Total Charge £ Plus VAT
1 £420
2 £2,500
3 £5,000
4 £7,500
5 £10,000
Band
1
2
3
4
5
Redress awarded to Client in £
£1 – £1,499
£1,500 – £9,999
£10,000 – £24,999
£25,000 – £49,999
50,000 or above
Our Fee as a Percentage rate Plus VAT
30%
28%
25%
20%
15%
Up to a Maxium Total Charge £ Plus VAT
£420
£2,500
£5,000
£7,500
£10,000
There’s no charge for our service if your claim is unsuccessful.
If an offer is refused & no other higher offer can be negotiated through normal correspondence, than our fee will be based on the highest offer awarded.
We may pay a fee to firms who have introduced you to us by way of commission or other arrangement. This has no impact on the fees you pay.
4. DOCUMENTATION
All we require you to sign the Letter of Authority to enable us to act on your behalf & acknowledge you accept our terms. Please retain a copy of these documents for your own records. If you can provide us with copies of any documents that relate to the investment product in question, that would be helpful.
5. COMPLAINTS
We operate an in-house complaints procedure. In the event you feel the need to make a complaint you may lodge this by letter, telephone or email. Your complaint will be investigated wherever possible by a person who was not directly involved in the subject matter of the complaint. We will acknowledge your complaint within 5 business days of receiving it & at that stage we will provide appropriate details of our ongoing complaints procedure.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. You can write to the Financial Ombudsman Service at: Exchange Tower, London E14 9SR.
Tel: 0800 023 4567 (free for most people ringing from a fixed line) or 0300 123 9123 (cheaper for those calling using a mobile) or
020 7964 0500 (if calling from abroad).
Email: [email protected]
Web: www.financial-ombudsman.org.uk
6. EARLY CANCELLATION.
You may cancel this contract by giving us notice in writing, email or by telephone without any charge, within a 14 day cooling off period.
You will be responsible to notify the car finance company or dealership of the re-assignment of the claim to yourself.
No letters, documentary materials, or evidence provided by CSN, will be allowed to be used to support your claim.
7. WITHDRAWAL BY YOU
You may withdraw from this contract after the cooling off period referred to in section 6. In such instances if we receive subsequent written or verbal notification of a successful claim because of the work we have done on your behalf, you will be liable for payment of our standard commission fee as stated in section 3. If you cancel after the cooling off period and we are unsuccessful, you will not be charged a fee.
8. YOUR RESPONSIBILITIES
9. OUR RESPONSIBILITIES
10. DATA PROTECTION
You authorise CSN to use & discuss data and information provided by you concerning you in the furtherance of your claim. All information will be held & controlled in accordance with the Data Protection Act with information only being forwarded to those who are registered with the Information Commissioner or a recognised authoritative body.
Our Privacy Policy is available on our website here: https://autojustice.co.uk/privacy-policy/
We will contact you with other services we offer and believe may be of interest to you from time to time.
11. REGULATION
CSN DIGITAL SOLUTIONS LTD is Regulated & Authorised by the Financial Conduct Authority FRN 833181.
TERMS OF BUSINESS
This Agreement forms a contract between Consumer Savings Network & you. You should not sign the Letters of Authority until you have read the Terms of Business, Service Summary and What we Do and Why We Can documents, which include details of any fees payable to CSN.
SERVICE SUMMARY
Services |
Consumer Savings Network (hereafter referred to as ‘the Firm’) will advise, investigate and represent the client to lodge a complaint, on the client’s behalf, against the relevant third party Car Finance Company, Dealership or Independent Motor Trader (hereafter referred to as ‘respondent(s)’). In the course of providing Claims Management Services the Firm will take steps to establish that the client and the respondent(s) have/had a relationship, obtain the relevant information to investigate the merits of the claim(s) and, where merit is established, submit a claim to the respondent(s) on behalf of the client. The Firm will keep the client updated on the progress of the claim by email, telephone and/or post |
Client Obligations |
The client should provide the Firm with all available documentation likely to be needed to pursue the claim(s), complete the necessary paperwork required and inform the Firm of any communication or letters received from the respondent(s), including the Final Response letterthroughout the claims process. |
Service Fees |
Band Redress awarded to Client in £
1 £1 – £24,999
2 £25,000 – £49.999
3 £50,000 or above
Band Our Fee as a Percentage rate Plus VAT
1 25%
2 20%
3 15%
Band Up to a Maximum Total Charge £ Plus VAT
1 £5,000
2 £7,500
3 £10,000
Band
1
2
3
Redress awarded to Client in £
£1 – £24,999
£25,000 – £49.999
£50,000 or above
Our Fee as a Percentage rate Plus VAT
25%
20%
15%
Up to a Maxium Total Charge £ Plus VAT
£5,000
£7,500
£10,000
|
Right to Cancel |
|
The client can cancel this agreement at any time within 14 days without giving any reason and without incurring any liability. The client can communicate their cancellation by telephone, by email, in writing, or can use the cancellation form accompanying the Firm’s Terms & Conditions. |
|
Right to Terminate |
|
The client can terminate this agreement at any time after the 14 days cancellation period. The Firm will not charge the client a termination fee if the client terminates the agreement after the 14 day cancellation period unless an offer of redress is made by a respondent. If an offer is made, the Firm’s Service Fee becomes due. |
|
Redress Schemes |
|
The client does not need to use the Firm’s services to lodge a complaint against the respondent(s). The client can present the claim(s) for free either to the respondent(s) or, if the respondent rejects the claim, to the Financial Ombudsman Service, if applicable. |
WHAT WE DO AND WHY WE CAN
How were Finance Agreements Mis-sold?
The Financial Conduct Authority (FCA) banned motor finance discretionary commission arrangements in January 2021. It is estimated that prior to 28th January 2021, in about 40% of car finance deals there were these hidden discretionary commission arrangement where lenders allowed car dealers and brokers to increase the interest you paid in order to increase their commission, meaning people may have overpaid unfairly.
For all those who had car finance arranged before the 28th January 2021, there is a chance that they have been mis sold. Stuart Masson, editorial director at the Car Expert says that before the ban car finance managers ‘had the ability’ on many deals ‘to manipulate the interest rate to suit the commissions being paid to the dealer’. *
The FCA has started a probe to determine the magnitude and vowed ‘to make sure that people who are owed compensation receive an appropriate settlement in an orderly, consistent and efficient way’. *
For these reasons among others we can make a claim to recover losses associated with these deals.
What Consumer Savings Network Will Do;
* Mail Online, Friday 19th Jan 2024