Fees

Who pays us

CreditRights introduces claims to our panel of legal partners. They pay us for each introduction. That payment doesn’t come out of your refund and doesn’t change what you pay.

Our legal partner’s fee

Claims are handled by Recoup, a trading style of Clear Legal Limited (SRA 469975). If your claim succeeds, they charge a percentage of what you get back, up to a maximum in pounds. You pay whichever is lower. If your claim doesn’t succeed, you pay nothing.

Maximum fees, including VAT

If you get back	Maximum %	Maximum £
£1 to £1,499	36%	£504
£1,500 to £9,999	33.6%	£3,000
£10,000 to £24,999	30%	£6,000
£25,000 to £49,999	24%	£9,000
£50,000 or more	18%	£12,000

All figures include VAT at 20%. These are the maximum fees allowed by the Financial Conduct Authority’s fee cap for claims management (CMCOB 5.2) and the Solicitors Regulation Authority’s equivalent rules. What you get back includes cash refunds and any reduction in what you owe.

Examples

You get back	Maximum fee	You keep at least
£1,000	£360	£640
£2,000	£672	£1,328
£12,000	£3,600	£8,400

If you still owe money

If you’re still overdrawn or owe the lender money, the fee is taken from the refund first. What’s left reduces or clears your balance, and anything over is paid to you. For example, on a £1,000 refund with a £200 overdraft, the fee is £360, £200 clears the overdraft, and you receive £440.

Cancelling

• You can cancel free of charge within 14 days of signing with our legal partner.
• After that, cancelling is generally free, except that if your claim has already gone to the Financial Ombudsman, our partner may charge for work done, at £140 an hour plus VAT, capped at £260 including VAT.
• If your lender pays out while our partner is acting for you, the success fee is still due.

Recoup confirms its fees in writing before you sign, and you can read them on its fees page.