Terms of Engagement

Terms of Engagement between Olton Alexander Ltd and:

Primary Claimant:

The service provided by Olton Alexander Ltd includes:

1. Initial assessment of your case and any potential claim
2. We will complete pre-administrative work and request a data subject access request from your provider/lender
3. Once we receive the relevant information from your lender we will review the finance agreement and associated terms and conditions
4. Where we believe there is a genuine cause for a valid claim/complaint, we will represent your claim for redress from a provider/lender.
5. We will calculate an estimated amount of loss based on information within the credit agreement, if we believe you have grounds to proceed with a complaint/claim.
6. Negotiating on your behalf to obtain an offer of redress for you if you were mis-sold.
7. Where appropriate and deemed unavoidable we will pursue the case through the Financial Ombudsman Service (FOS).
8. If the case is rejected by both the lender and Fos, and we believe there is legal grounds to proceed with litigation we can refer your case to a legal partner to pursue down the court litigation route.
9. We make no representation or guarantee that a redress payment is assured.

Olton Alexander Ltd Costs

1. Olton Alexander Ltd will act on a ‘NO WIN NO FEE*‘ basis, and there are no administration charges or hidden fees payable. Only if an offer of redress is received will a fee be due, which meets the FOS guidelines. In such a case, you choose to reject the offer, or you attempt to rescind after an offer has been made, then our full fee would be due and payable.
2. In successful cases we are entitled to receive a percentage of redress which is inclusive of Vat where applicable, of any redress recovered in relation to any accounts with your lenders, even if received after the initial settlement no matter if the redress was in part or whole by the way of refund of premiums, loan/arrears reduction and/or cash. The fee is calculated before any relevant tax deduction/payment which you may be liable for. This fee may be shared with introducers involved in the process.
3. If your finance agreement with Olton Alexander Limited is still active and unresolved, and your successful complaint or claim results in compensation in the form of a reduction in the amount you owe, such as for loan arrears or outstanding balance, you will still be required to pay Olton Alexander Limited’s fee. This means that even if you do not receive cash compensation and your outstanding balance is reduced, you may still have an obligation to pay a fee to Olton Alexander Limited.

Example of Cost- For example, if the agreed fee is 24% inclusive of VAT where applicable and the redress, we receive for you is £1000, then the fee payable to us in successful cases would be £240 inclusive of VAT where applicable. Upon receipt of the redress, the fee should be paid without hesitation.

Success fee charging table:

At Olton Alexander, we prioritize our clients as our top concern, assisting numerous individuals in reclaiming what is rightfully and legally theirs if they have been a victim of mis-selling. In contrast to many other firms, we take pride in ensuring fair treatment of our customers. To alleviate the financial burden on our clients, we have set our fees inline with the FCA guidelines on compensation refunds of up to £49,999. What sets us apart is our commitment to delivering the utmost quality of service, drawing on years of expertise in addressing financial mis-selling issues, and, most importantly, simplifying the process for our clients

Please find below examples of our fee’s, Olton Alexander work on a No Win No Fee Basis

1. Upon completion of your claims in successful cases we have the right to reduce the percentage (%) charged to you. We will notify you if this applies to your claim(s)
2. We will continue to represent you to make sure the correct amount of redress is paid. If you receive any further payment from the lender, any additional payments are subject to the same terms as stated above in section b) of the cost.
3. You are contractually obliged to notify us of any payments made to you by your finance provider in relation to any accounts held.
4. In the event the Fee is not paid after 21 days of receiving your redress amount then a £50 administration charge will be applied and added to any outstanding balance as well as a late payment interest which will be calculated at 8% per annum from the fee due date until the final payment is received. Should a third party be used to recover any unpaid fees you will be liable for any costs incurred.

IMPORTANT INFORMATION

1. You fully understand that the Financial Ombudsman offers free support and you can make a complaint yourself without the involvement of Olton Alexander Ltd or seek independent advice.
2. If you are unhappy at any stage throughout the process, please contact our customer service team at customercare@oltonalexander.co.uk Please refer to our website for our complaint procedure https://oltonalexander.com/
3. You have a 14-day cooling off period which only starts from the date you sign/e-sign the Letter of Authority in which you can cancel your contract without charge. Please email cancellations at carfinance@oltonalexander.co.uk or alternatively please write to us at Car Finance, Olton Alexander Ltd, Cardinal Point, Park Rd, Rickmansworth WD3 1RE. If at any time during the 14-day cooling off period, we receive an offer of compensation our normal fee’s will be payable.
4. If after the 14 days cooling off period you cancel your agreement before an offer of redress is made, Olton Alexander Ltd may decide to make a fair and reasonable cancellation charge which will be determined by the amount of work completed to that point in time in relation to your claim. Once a cancellation is requested outside the 14 days, you will be charged for any work undertaken at the rate of £60 including VAT per hour. We will send out an itemised bill detailing the work Olton Alexander Ltd have completed on your behalf.
5. By signing this agreement, you are authorising us to carry out a soft credit search on your behalf by using your personal data in order to acquire required information (account numbers and start dates) on any historical finance accounts you may have held.
6. We will verify your identity you submit using a credit checking and/or anti-money laundering service. Details of which will be shared with our associates, sub-contractors and legal partners.
7. By signing this agreement, you give permission to Olton Alexander to contact you in relation to other financial claim types that could benefit you via email, text, phone or whatsapp, not limited but could include, Plevin, Undisclosed Commission Claims, Emissions claims, Overdraft claims, Irresponsible lending claims and Mortgage Claims.
8. You understand and accept that if your finance agreement is still live the lender will normally give you the option to reduce the amount you owe or hand the vehicle back and receive a refund, in both eventuality’s Olton Alexander Ltd.’s fee will still be due..
9. You give us authority to investigate all accounts with your providers (lenders) and you give us permission to receive and pass on your information including your personal data in this matter. As well as agreeing to the payment of our fees on the total redress on these accounts.
10. For more information on Car Finance Claims/complaints, our company, the Financial Ombudsman service or the FCA please use our website.
11. You have the right to explore further advice and compare different claims companies.
12. By signing this agreement, you confirm that you have never been declared insolvent either by the way of an IVA, Bankruptcy, Debt relief order (DRO) or a Trust Deed.
13. By signing this agreement, you confirm you are not currently in a Debt Management Plan or arrears with the provider (lender) we are looking into on your behalf.
14. You give permission for us to share your information including your personal data with our associates, sub-contractors and any replacement provider for claims management purposes.
15. You agree that our obligation under this agreement may be transferred to another provider of claims management services or a law firm regulated by the SRA by giving you suitable notice via electronic communication (Inc. Email and SMS) and the benefit of any or all of our rights under or relating to this agreement may be assigned to any of our affiliates, funders, investors or any other third party, without prior notice to you. This agreement may be varied by us by giving you reasonable notice via electronic communication (Inc. Email or SMS). References in this agreement to “we”, “us”, “our” or Olton Alexander Ltd means our successors, transferees and assigns.

By signing this document, you confirm that you have read and agree to the Terms of Engagement outlined by Olton Alexander. Additionally, you explicitly acknowledge that in the event of a successful claim, a fee will be due to Olton Alexander as stipulated in this agreement. Furthermore, you grant Olton Alexander the authority to lodge a formal complaint to your lender on your behalf concerning any financial mis-selling complaint. This authority extends to the submission of a data subject access request to your lender. In the event of a rejection of your complaint, Olton Alexander will undertake to escalate the matter to the Financial Ombudsman on your behalf. Moreover, Olton Alexander retains the prerogative to refer your case to a partner law firm if it deems such action to be in your best interest for achieving a favourable resolution to your specific case.