Irresponsible Lending FAQs

Should your claim for irresponsible lending be successful, an offer of compensation will be made. The value awarded may consist of interest and insurance premiums paid, any type of charges made against the agreement or charges made on your current account. It may also involve a further reduction in your outstanding debt.

Please note that if there is money owed to the firm, the compensation value may be off-set against the outstanding balance in order to reduce the overall debt. In this instance, our fee would still be due and you would need to find funds for our fees from elsewhere. If there is no outstanding credit, then the compensation will be refunded to a bank account of your choice.

You can be assured that EMCAS will be acting in your best interests at all times and will always endeavour to maximise the value of the award being made. As we receive a proportion of the award value on a "No Win No Fee" basis we will have naturally checked all offers. EMCAS regularly dispute partial awards made by the companies liable and as a result have the offers increased.

The basis of the fee charged is that EMCAS will only be entitled to be paid if EMCAS win the claim and you are awarded compensation. If the claim is carried to its conclusion and is lost, you will not be charged for work carried out on your behalf. The only occasion other than the above when a fee is payable is if during the course of your claim you decide to cancel our contract. A fee will then be payable to reflect the work carried out on your behalf and any expenses paid by EMCAS.

EMCAS charge 25% + VAT (currently 29.4% inc. VAT) of any compensation gained on your behalf.

Example 1: Compensation payable £1,000.00

VAT £43.75

Client receives £706.25

Example 2: Compensation payable £5,000.00

EMCAS fee 25% £1,250.00

VAT £218.75

Client receives £3,531.25

Example 3: Compensation payable £10,000.00

EMCAS fee 25% £2,500.00

VAT £437.50

Client receives £7,062.50

Before EMCAS start your claim we will provide you with written correspondence detailing our service and our Terms of Engagement. After returning the required documentation you will then have a 14 day 'cooling off' period. Once this 'cooling off' period has expired EMCAS will;

• Contact you to complete a questionnaire to help us understand the circumstances surrounding your possible irresponsible lending.
• Use the information you provide to compose an initial letter to your lender. The letter will instruct them to direct all correspondence and any questions or matters relating to the claim to your claims manager at the EMCAS claims office. Included will be an authority for EMCAS to deal with your complaint.
• Provide you with a copy of correspondence for your own records.
• Act as an intermediary between you and the firm. We will reply to and manage all correspondence relating to your complaint.
• Ensure that any compensation offered is fair and includes all aspects of the complaint.
• Refer the case to the Financial Ombudsman Service if necessary. There is no extra charge for this service.

Our agreement would come to an end and you would not owe us a penny.

Should you choose to instruct EMCAS to act on your behalf we will at all times endeavour to:

• Act fairly and reasonably in all dealings with you
• Ensure that any service offered is one that meets your needs
• Ensure that all information given to you is clear, transparent, fair and not misleading
• Advise you to only pursue a claim if it is in your best interest to do so

If you are not completely happy with our service, EMCAS would like to hear about it - that way, we can do something to put it right. Please contact the Customer Services Manager on 01803 - 697541 or complaints@emcas.co.uk.

Yes, you can. As with anything in life, you may elect to "do it yourself" in the same way that you can prepare and file your own tax return without the use of an accountant, or buy and sell your own property without the use of a solicitor. Most choose to employ the services of someone who is an expert in their field.EMCAS is a professional complaint handling company. We are one of the longest established operating exclusively within the financial sector. We aim to take away the hassle of making a complaint and undertake to deal with all aspects of your claim from start to completion making the whole process as painless as possible for you.

Our track record speaks for itself. To date we have successfully won over 78,000 claims against financial institutions providing more than £150 million in compensation payments for our clients.

EMCAS have a comprehensive knowledge of Financial Services products, regulation, complaints procedures and the administrative procedures required to make a successful claim.