Frequently Asked Questions

Frequently Asked Questions

Please see below our most commonly asked questions about our service and the process

Pre Contract FAQ's

Yes, we advise you to keep up with your payments to the lender as it is not guaranteed that your complaint will be successful. If you stop making your regular payments the lender is required to advise the Credit Reference Agencies which will then impact your credit file

The lender has 8 weeks to issue a Final Response Letter from the day we submit your claim, however as you enter into a contract with us you enter into a 14 day cooling off period under the Distance selling regulations act.

Our fee is based on a percentage of the amount you receive as a cash award, balance reduction or a combination of the two. Please refer to our fee table https://sandersondrake.co.uk/fees-and-charges

Making a complaint to a lender will often result in the lender refusing to issue you with further credit.

Making a complaint to a lender can often result in the lender withdrawing your line of credit.

Making a complaint regarding a vehicle may result in the lender requesting the vehicle to be returned

Making a complaint against a lender will not have a negative impact on your credit file, if the complaint is upheld the lender is required to remove any adverse history on your credit file as a result of the upheld loans. Therefore, making a complaint will only have a positive impact on your credit file.

Claim FAQ's

You may cancel the complaint within the 14 day cooling off period with no charge. If you wish to cancel the claim outside of the cooling off period a cancellation invoice may be issued.  

We will provide the lender with your acceptance of the offer and chosen bank account for the funds to be credited to, they will pay the funds directly to you. An invoice will be issued to you upon acceptance for our services which will be payable upon receipt of the funds.

If we feel the offer is unacceptable and you agree, we will advise the lender that we reject the offer and we will then escalate the complaint to the Financial Ombudsman Service.

If the lender does not provide a Final Response, we then have the right to escalate the complaint to the Financial Ombudsman Service.

If the lender rejects the complaint, we will review the Final Response Letter and if we feel the complaint has merits we will escalate the complaint to the Financial Ombudsman Service.

If the lender upholds the complaint, we will review their offer and advise you if it is acceptable or not acceptable.

Invoice FAQ

If you have received a cash award which is more than the invoice payment will be required in full upon receipt of funds. If you have received a cash award which is less than the invoice, we will require payment of the cash element and the remaining amount will be eligible for a payment plan. This is subject to review. If you have not received a cash award but have received a balance reduction, an affordable payment plan will be available subject to review.

No, the lender will pay you directly in to your chosen bank account.

If a cash refund that exceeds the invoice value is received payment is required upon receipt of funds.

 

If a combination award is received where the cash amount is lower than the invoice value, we require payment of the cash element upon receipt of the funds and we allow 21 days from invoice sent date for a payment plan to be arranged for the remaining balance.

The lender gets up to 28 days to make the payment to you, however all lenders pay within different timeframes, some pay within a couple of working days while others can take up to 28 days.

If your invoice is now due and you haven’t yet received your payment, please contact us immediately so that we can amend your invoice due date and contact your lender to determine the delay in payment.

If you have received your refund or compensation and you haven’t paid your invoice on time, your invoice would be considered overdue. To avoid charges being applied to the invoice it would be advised for you to contact us immediately.

The lender will reduce your balance accordingly, our invoice would then be payable via an affordable payment plan.

Financial Ombudsman Service FAQ

Cases that are referred to the Financial Ombudsman for review can take on average 6 – 12 months

Yes if your case is succesful with the Financial Ombudsman Service(FOS) our fee’s will still apply.