Where there’s a claim…there’s a process that needs to be followed Over recent years there has been a notable increase in the number of customers coming forward who believe they have been unfairly treated and mis-sold some form of financial product or service. They range from the now-infamous PPI to pensions, mortgages, investments, pay-day loans and, increasingly, motor finance. Here, Andrew Smith, the CEO of Paxen Group Ltd, explains recent developments and how his company can help negotiate the process.
[ MANY CUSTOMERS who believe
they have a claim initially go through the complaints process and ultimately engage the Financial Ombudsman Service (FOS) to arbitrate on their behalf. In some cases that can work in favour of the customer; however, there is a known issue of inconsistency in the approach of the FOS, leaving many claimants unhappy or even with a poor outcome. The alternative is to submit a claim via the courts, for which we are seeing an increasing appetite. All PPI claims now have to be submitted that way and we are seeing more and more lawyers and specialist solicitors taking that approach,
with a view to reaching a fairer and more consistent settlement for their clients. There is, however, the matter of proving the wrong-doing. With the FOS they generally start from a position of the complainant being right, leaving the burden of proof with the firm to prove the complainant is wrong. With the courts that is not the case, and both sides are expected to provide detailed and robust evidence to support their claim and defence. That is where we can assist. As experts in the field of financial services compliance and FCA regulation we are able to assess and review a case and provide a credible and reliable expert report. We have
experience of drafting Part 35 compliant reports, court appearances and high-volume expert opinion reports for multiple claimants of a similar type. In the motor finance market we have been regularly producing many hundreds of reports per month to support mis-sale and non-disclosure claims: in fact, we are recognised as a leading authority on the subject – to the point where we are appointed by Trading Standards as an expert for any relevant claims they have. We offer a competitive and pragmatic fee structure and an initial free-of-charge consultation to understand a client’s needs and how we may be able to assist. q
www.yourexpertwitness.co.uk
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