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The High cost of Key Financial Claims

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Just to show the folly of using a claims company, Key Financial Claims charge 33.9% of successful claims and a fee of £295 + vat if you withdraw.


These fees are at rip-off rates. It cost them no more to claim back £10,000 than it does £100 but they take on hell of a lot more of 'your' compensation.


1.6 “Fee” means the fee of 33.95% (including all taxes applicable from time to time, if any) of the compensation payable to Key Financial Claims Ltd for the services carried out by it; if we recover £600 of compensation, our fee would be £203.70 (including all taxes applicable from time to time, if any) and you would receive £396.30.


3.6 subject to clause 3.7 below, if this Agreement is terminated by the Client for any reason, pay Key Financial Claims either £295.00 plus VAT (cancellation fee) or, if the Claim has already been submitted by Key Financial Claims and Key Financial Claims proceeds with the Claim and the Claim is successful, the Fee or the cancellation fee, whichever is the greater;


If you think you have been missold ppi, then claim it back yourself for the price of a couple of stamps and keep 'all' the money repaid.

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Also, clause 3.6 is capable of being unenforceable for unfairness under UTCCR - as well as capable of being an unenforceable penalty.


DO NOT get involved with any company which attempts to foist this kind of condition upon their customers.


I see that on the internet there are a number of links to discussions involving this company.


Also they seem to have gone through some name changes - which always makes feel uncomfortable.

Also they seem to be involved with some kind of tele-marketing operation.



Conclusion - avoid PPI reclaim companies in general. Avoid Key Financial Claims.

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