FAQ’s

Our Fees

Unlike other claims management companies our fees are simple. We charge 17.5%+VAT of the compensation you are awarded, it really is that straightforward.

There no hidden costs or charges associated with your claim as we believe in being as upfront and honest as we can with the clients we represent.

Fee Structure:

No upfront Fee

Compensation Fee: 17.5%+VAT of any compensation received .

Compensation Fee: Charge of 17.5% + VAT of any compensation paid. In the event compensation is used to reduce a debt or is paid in anyway other than to CMP’s client account you will be responsible for making payment to CMP within 14 days of the award, for an amount equal to 17.5% + VAT of the compensation paid.

Based upon a settlement award of £10,000 paid directly to CMP

A fee of £1,750 + VAT will be payable to CMP. At time of writing the VAT rate is 20% therefore, in this case the VAT portion would be £350 making a gross charge of £2,100. This would leave you to receive the remaining £7,900 from CMP.

Based upon a settlement award of £3,000 paid directly to CMP

A fee of £525 + VAT will be payable to CMP. At time of writing the VAT rate is 20% therefore, in this case the VAT portion would be £105 making a gross charge of £630. This would leave you to receive the remaining £2,370 from CMP.

Based upon a settlement award of £5,000 which is paid by a lender to reduce an outstanding debt or to an account not relating to CMP

A fee of £875 + VAT will be payable to CMP within 14 days of the settlement. At time of writing the VAT rate is 20% therefore, in this case the VAT portion would be £175 making a gross charge of £1,050. This would leave you with your debt having been reduced by £5,000 however you would have to pay a fee to CMP from your own resources of £1,050.

Fees & Cancellation Rights:

We will never charge you anything other than the above success fee if we are allowed to complete your case to its conclusion.

By entering this agreement with us you have a right to cancel. You may cancel that agreement without any charge being made by us to you if this is done within 14 days of signing, (the cooling off period). You can cancel your agreement with us verbally by calling us on 0800 6522095 or you can write to us, by email or by sending us a cancellation notice. If you wish to cancel the agreement after the 14 day cooling off period has expired but before we have reached a conclusion to your case and where we have worked on your case, we would be entitled to charge you by the hour for any work that we have undertaken. Our current hourly rate is £90

CMP accepts a significant risk that if a claim is unsuccessful we will not be paid anything for our time and advice.

Representation:

You should be clear that the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS) are FREE services. To make a claim for compensation you are not required to use the services of a third party.

We can advise, and represent consumers who wish to make a complaint against a regulated firm. Whether this is a complaint to a regulated financial services firm, the Financial Ombudsman Service (FOS) or the Financial Services Compensation Scheme (FSCS).

To establish if you have an eligible claim we will need to establish that you received advice from a regulated firm and if this advice was negligent. Negligent advice can cover a variety of scenarios such as failing to disclose key information such as risks. You will need to provide us with copies of all document’s relevant to your claim – please only send us photocopies not original documents.

If we consider there is evidence of negligence, we will advise on the best course of action. We will take you through the process including the estimated time to a decision and the possible compensation you can expect to receive.

We cannot guarantees the amount of compensation you will receive or the time taken for your claim to be processed but we will endeavour to offer you our full support throughout the process.

What Happens Next:

On receipt of your signed terms, letter of authority and following the 14 day cooling off period we will commence your claim. We will complete a telephone consultation and take a statement of dealings from you to establish the circumstances at the time of advice. This will take approximately 20 minutes.

Following this we will prepare your submission to the appropriate organisation, which will be submitted once you have checked and verified the details. You are responsible for providing us with information that is true and accurate to the best of your knowledge.

Who Pays The Compensation?

Most of the cases we represent are presented to the Financial Services Compensation Scheme (FSCS) in a bid to reclaim money lost by investors who suffered negligent advice or were unaware of the full facts before making their investment.

The FSCS is a free service, therefore you can make a claim for compensation yourself.

The FSCS protects consumers when financial services firms fail or go bust. It’s the compensation scheme for customers of UK authorised financial services firms and is often referred to as the fund of last resort for individual investors.

FSCS protects the following:

  • Deposits
  • Investment business,
  • Home finance (for business from 31 October 2004),
  • Insurance policies, and
  • Insurance broking for business from 14 January 2005. We also protect connected travel insurance where companies such as travel firms and holiday providers sell the policy alongside a holiday or other related travel for business from 1 January 2009

The FSCS has set compensation limits dependent on when the firm you are claiming against was declared as in default:

  • Up to £85,000 for firms which failed after 1st April 2019
  • Up to £50,000 for firms which failed between 1st January 2010 – 31st March 2019
  • Up to £48,000 for firms which failed prior to 1st January 2010

What If The Firm Is Still Trading?

If the broker or your advisor is still trading any complaint must be made directly to the firm. There are regulatory procedures and timeframes the firm must adhere to when dealing with any complaint.

If you are unhappy with the final decision your complaint can be referred to the Financial Ombudsman Service (FOS).

If you are unsure whether you have valid reasons for a complaint to the firm call a specialist today and we will quickly establish if there is basis for a claim. For contact information please click here.

Who We Are:

CMP is a limited liability partnership registered in England and Wales with company number OC417999. Our trading address (where you can contact us) is;

272 Bath Street, Glasgow, G2 4JR

Our telephone number is: 0800 6522095 

email: enquiries@claimsmanagementpartnersip.co.uk 

http://www.cmpllp.com

CMP provide Claims Management Services to consumers, who have been poorly advised by FCA (or its predecessors) regulated businesses. We use our expertise to ensure consumers receive fair redress with the minimum amount of hassle.

We are authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activity (FRN:831387).

Financial Conduct Authority website http://www.FCA.org.uk