Pacific Financial Claims Limited – KEY FACTS

  • The Claims Services
  1. Please note Pacific Financial Claims Limited (trading under the style of “Professional Reclaim Services”) provides claims management services in connection with the pursuit of financial mis-selling type claims. The services Pacific Financial Claims Limited provides involves investigating and advising upon financial mis-selling claims and thereafter assisting in pursuing redress or compensation where appropriate.
  2. In very brief terms, the following are the typical steps Pacific Financial Claims Limited would undertake in the course of providing claims management services: (a) obtaining initial instructions from the client as to all relevant circumstances giving rise to the claim; (b) assessing the information provided and advising the client as to the possibility of making a claim; (c) preparing the necessary documentation for a claim to be submitted to the relevant respondent; (d) engaging the respondent to the point of admission or rejection of the claim; (e) advising the client on outcome and procedural steps including (without limitation) as to settlement terms.
  • Client’s Obligations
  1. Pacific Financial Claims Limited considers that client co-operation is paramount in the claim process as it enhances the prospects of success. That so, the commitment Pacific Financial Claims Limited expects from clients is as follows: (a) providing information and instructions when requested and promptly; (b) completing paperwork; (c) co-operating with Pacific Financial Claims Limited at all times in the course of the claim process; and (d) not misleading Pacific Financial Claims Limited in any way.
  • How Pacific Financial Claims Limited Keeps its Clients Updated?
  1. Throughout the claim process, Pacific Financial Claims Limited provides regular updates to the client of all material developments and a cumulative written update is provided on no less than 6 months intervals. Pacific Financial Claims Limited will communicate generally with the client via telephone, post, email & SMS messages.
  • Pacific Financial Claims Limited Fees
  1. Once a client enters into a contract with Pacific Financial Claims Limited pursuant to the Terms & Conditions, Pacific Financial Claims Limited would be entitled to charge a fee of 20% plus VAT (24%) of the gross amount of redress/compensation recovered on behalf of the client. The following is an illustration of the amount of the Pacific Financial Claims Limited fee in the event that the compensation or redressed recovered from the respondent amounts to:
£ £ £
Redress Recovered: 1,000.00 3,000.00 10,000.00
Pacific Fiancial Claims Charge @ 24% including VAT: 240 720 2,400
Net Compensation to Client: 760 2,280.00 7,600

Important Note: If the redress recovered by Pacific Financial Claims Limited is used applied by the respondent towards arrears owed, the client remains liable to pay out of his/her own funds the fee chargeable by Pacific Financial Claims Limited.

  • The Right to Cancel
  1. The client can cancel her/his agreement with Pacific Financial Claims Limited at any time within 14 days of a claim being submitted without giving any reason and without incurring any liability unless Pacific Financial Claims Limited receives an offer of compensation from the respondent within this period; in which case Pacific Financial Claims Limited’s fee will be due. The client can communicate cancellation of the Pacific Financial Claims Limited agreement by telephone, in writing, in person or can use the cancellation form accompanying the Pacific Financial Claims Limited Terms & Conditions.
  • The Right to Terminate
  1. The client can terminate her/his agreement with Pacific Financial Claims Limited at any time after the 14 days cancellation period (as explained above). In the event the client cancels after 14 days, the client will be charged for the work done, manual communication e.g. an outgoing or incoming call/letter or email to or from either You or the Company we will charge You £25 per communication .Automated communication to You e.g. letter, SMS or email we will charge you £10 per communication. If this occurs, Pacific Financial Claims Limited’s fee will be due if the client ultimately receives an offer for compensation or redress from the relevant respondent.
  2. Available Redress Schemes
  3. The services rendered by Pacific Financial Claims Limited are not mandatory. Individual clients are not required to use Pacific Financial Claims Limited or any other claims management company.  Client are perfectly entitled and able to pursue complaints or claims directly against the relevant respondent(s) for free.  If the complaint or claim is rejected then the client may refer the matter to the Financial Ombudsman Service or the Financial Services Compensation Scheme, again at no cost at all. Instructing Pacific Financial Claims Limited is a client choice.