Frequently Asked Questions - High-Cost Lender Claims
Is your service No Win, No Fee?
Yes. Unless your claim is successful and you are rewarded compensation, we will not charge you for any of the services we have provided.
What are your fees?
Our fee is 25% of any compensation offered. This means, for example, if we succeed in obtaining compensation of £1,000, our fee would be £250. Compensation may be used by a Loan, Credit Card or Catalogue Provider to reduce any outstanding liabilities, arrears or debts you owe them. Wellbeing Services Limited’s Fee(s) of 25%, will be payable to Wellbeing Services Limited based on the total amount of calculated Compensation rewarded.
• Redress in the form of a CASH PAYMENT - If you are offered a cash payment of £3,000 in response to your claim, we will charge you 25% of £3,000. The fee payable will be £750 and you will receive £2,250.
• Redress in the form of a REDUCTION OF A DEBT - If you are offered a £3,000 reduction in the amount of your debt (loan, credit card or catalogue), in response to your claim, we will charge you 25% of £3,000. The fee payable will be £750 and your debt will be reduced by £3,000.
• Redress in the form of a CASH PAYMENT AND A REDUCTION OF YOUR DEBT (LOAN OR CREDIT CARD) - If you are offered £3,000 total redress in the form of a £2,000 reduction in your debt (loan, credit card or catalogue) and a £1,000 cash payment, in response to your claim, we will charge you 25% of £3,000. The fee payable will be £750 and your debt (loan, credit card or catalogue) will be reduced by £2,000. You will receive £250.
How long does it take?
On average a claim can take between 8-16 weeks from the date the claim is acknowledged by your lender(s). Please note that any delays to this process may occur if your lender(s) does not investigate your complaint within the allotted time frame. Also, if the lender(s) rejects your claim your case can be referred to the Financial Ombudsman Service (FOS) in which no time frames can be given.
Who are Wellbeing Services?
Wellbeing Services is authorised and regulated by the Financial Conduct Authority (FCA). We have been helping and assisting customers since 1997. We specialise in financial redress meaning we have a wealth of experience in assisting clients affected by mis-selling or when given poor financial advice.