FAQ's
Q:
How much will it cost
Portal Claims work on a no win-no fee basis, so unless we recover compensation, you don't pay a penny to us.
If we recover compensation, our fee will be equivalent to 25% plus VAT of the compensation recovered (overall, this is equivalent to 29.375% of the compensation recovered).
For example, if we recover £1,000 compensation, our fee will be £293.75 and you will receive the balance of £706.25. This fee covers the cost of your entire claim with Portal Claims, including an appeal to the Financial Ombudsman Services, where necessary.
In addition to our fee, if we win, any data protection fees paid by Portal Claims will be chargeable: these are not expected to be higher than £10 per case.
There are no hidden costs – it's here in black and white.
What is compensation?
Compensation is any amount paid due to actions taken by Portal Claims which would not have been paid had no action been taken by you. Compensation can include the following:
Bank Charges & Credit Cards
- All charges or fees recovered + interest
Payment Protection Insurance
- PPI premiums & interest paid to the date of settlement
- Statutory interest payable on each premium to the date of settlement
- Any other amount, including rebates, written off the loan after Portal Claims has submitted a complaint to the advising firm.
Note: Your loan or credit card provider may use your compensation to reduce your loan or debt balance.
Wealth Warning:
Watch out for firms charging no win-no fee at a rate of 10% plus interest + VAT. Often they will take 10% of recovered premiums plus ALL interest recovered. Often the interest is at least half of the claim so you could easily end up paying far more than paying a simple 25% plus VAT.
