Terms of Engagement – Missold IVA Claims

By signing our terms of engagementyou will be entering into a legally binding contract. If you change your mind, you have a 14 day cooling off period during which you can cancel without charge. In entering into this contract, you confirm that you have read our Pre-Contractual Information. You also confirm that you understand that we offer a professional paid-for claims management service but that you do not need to use a claims management company to make your complaint to the respondent, and that if your complaint is not successful that you can refer it to the Financial Ombudsman Service for free (see https://financial-ombudsman.org).

Terms of Engagement

14 day cooling off period means the first to the fourteenth day inclusive after we receive your signed terms of engagement.

cash in hand compensation means the actual cash in hand compensation that you receive from the respondent after debt and tax deductions have been applied by the respondent.

claim means the pursuit of a complaint against the respondent to bring about compensation arising out of the actual or potential mis-selling of an Individual Voluntary Arrangement (IVA).

claims management service means any and all of the actions of the company in representing you to make a claim during which the company will undertake reasonable steps as may be necessary to progress the claim from time to time. This may include (but is not necessarily limited to) providing advice in writing or orally, investigating the facts and merit of a claim, presenting a claim, negotiating and relaying settlement information about a claim.

compensation means each and every financial benefit to you from the respondent that is awarded or accrues as a result of the performance of the claims management service (we charge based on net compensation only – please see below)

company/us/we/our means Conclusive Financial Limited trading as MissoldIVA whose present address is 109 Bancroft, Hitchin, Hertfordshire, SG5 1NB, a claims management company that is authorised and regulated by the Financial Conduct Authority and whose Firm Reference Number is 838617. Check https://register.fca.org.uk/to verify up to date details.

Missold IVA Claim means each and every agreement you have had with the respondent, or any third-party packager, or administrator involved in the sale of formalisation of your Individual Voluntary Arrangement

respondent means your Insolvency Practitioner/Supervisor, its predecessors, successors, assignees, servants and/or packagers working in conjunction with your Insolvency Practitioner/Supervisor.

settlement proposal means an offer from the respondent, or a recommendation, adjudication or decision made by the Financial Ombudsman Service or another third-party organisation with binding authority to award compensation, whether or not the compensation due has yet been calculated or the offer yet communicated.

success fee means the sum payable to us as regulated by Section 4 of the terms of engagement.

terms of engagement means the terms and conditions set out within this document.

you/your means the person signing the terms of engagement, or where acting as a power of attorney, the person on whose behalf the claim is made.

2.1 In performing our duties, we will exercise the reasonable skill and care expected of a regulated claims management company and maintain all relevant regulatory permissions to enable us to perform our role lawfully.

2.2 Once we are in receipt of appropriate information and documentation from youwe will submit a claim to the respondent. Should the respondent not respond within appropriate timeframes or disagree with the claimwe will reconsider the claim merits in all of the circumstances and, where reasonable, escalate the claim to the Financial Ombudsman Service or another appropriate third-party alternative dispute resolution organisation with binding authority to resolve the claim on your behalf.

2.3 We will communicate with you by email, post, SMS, via our website portal and/or orally (including by telephone).

2.4 We will update you when there is a material claim update. This includes where the respondent acknowledges the claim, requests further information and/or makes a final decision. If your claim is referred to the Financial Ombudsman Service or another third party organisation with binding authority, we will update you when the claim is acknowledged and whenever there is a subsequent material development. In any event, we will update you in line with our governing regulatory requirements as in force from time to time.

2.5 We agree to pay a respondent and any relevant third parties any such reasonable fees as may be necessary for us to access information required to pursue a claim.

2.6 We will take instructions from you where they are necessary and always in relation to settlement proposals once compensation is calculated.

2.7 We will reasonably assume that account information and calculations provided by the respondent are the best primary evidence of lending, are accurate, not misleading and/or not ­provided in bad faith unless you provide evidence to cast reasonable doubt on accuracy of this information.

2.8 We will not provide financial or debt advice as we are solely authorised and regulated to provide claims management services.

3.1 You confirm that you have not pursued the claim previously, or where you have, that this has been brought to our attention and that all relevant correspondence and documentation will be passed to us promptly.

3.2 You agree that we are appointed as your exclusive representative for the purpose of delivering the claims management service, meaning that at no time during the terms of engagement will you (i) have an ongoing contract with another representative relating to the claim; or (ii) attempt to pursue the claim yourself without cancellation (see Section 5).

3.3 You agree not to contact the respondent, the Financial Ombudsman Service or other relevant third party organisation to withdraw our authority to provide the claims management service without first cancelling with us.

3.4 You agree to provide us with prompt information about your personal details and financial situation as we may reasonably require in order to provide the claims management service and to immediately inform us of any change of information, such as a change of address, during the course of the claims management service.

3.5 You agree to complete and sign all paperwork necessary to provide us with authority to pursue the claims management service.

3.6 You agree to provide us with the documentary evidence reasonably required to investigate and/or pursue the claim including (but not limited to) bank statements, credit reports, relevant respondent related documentation and correspondence.

3.7 You agree to inform us immediately should a respondent contact you directly to discuss a claim or make a payment to you directly.

3.8 In the circumstances where a respondent pays you directly, you agree to pay the success fee (see further Section 4).

4.1 Our fees are owed upon a successful claim and will depend on the amount of redress you receive in cash in hand compensation. This means we charge on what you actually receive, not debt or tax deductions. If income tax is deducted from 8% statutory interest (or other compensatory interest) received and sent to HMRC, we do not charge you on this deduction.
If successful, your fee will be calculated based on which band your redress falls into and will be charged by whichever is the lowest of:

a) the maximum percentage rate of charge for that band, or
b) the maximum total charge for that band.

The below table outlines the redress bands, the maximum percentage rate of charge and the maximum total charge is for each band.

Band Redress % Charge (including VAT) Maximum charge (including VAT)
1 £1 – £1499 36% £504
2 £1,500 – £9,999 33.6% £3000
3 £10,000 – £24,999 30% £6000
4 £25,000 – £49,999 24% £9000
5 £50,000+ 18% £12,000


You would pay us the fee once you receive your cash in hand benefit from the respondent.

Please note, the above fee examples are for illustration purposes only. They are not an estimate of the likely outcome or fee you will need to pay. Each claim depends on its own merits.

4.2 You agree to pay us the success fee without undue delay upon receipt of funds paid to you by the respondentYou accept that payment of the success fee is not contingent on the completion of any further action, such as a respondent making a correction to a credit record. Where further settlement actions remain outstanding that form part of our claims management service obligations, we will continue to pursue these on your behalf and our contractual commitments to you will be unaffected by the payment you have made.

4.3 Where cash in hand compensation is paid in separate parts or part paid (for whatever reason), we reserve the right to raise interim or modified invoices relating to the amount received by you.

5.1 You may cancel the claims management service without charge within the 14 day cooling off period.

5.2 After the expiry of the 14 day cooling off periodyou may ask us to cancel the claims management service. There is no cancellation charge but a success fee may be payable:

  • If there has been no settlement proposal(s) prior to cancellation, no success fee will be due; or
  • If there has been settlement proposal(s) but no acceptance prior to cancellation, the success fee will apply to the lowest of: (a) the settlement proposal with the highest compensation received prior to cancellation; or (b) the compensation that you achieve independently of us; or
  • If you have accepted a settlement proposal and cancel after acceptance, the success fee will be due in the normal way.

In all scenarios above, the success fee would not be due for payment until you receive cash in hand.

5.3 Where we have a reasonable belief that you are withholding information relating to a settlement proposal or claim resolution (including receipt of cash in hand) after cancellation, we reserve the right to raise an invoice based on our aggregated win statistics over the previous 12 month period relevant to the product typeWe will amend or cancel any such invoice as appropriate should we subsequently learn the actual position.

5.4 You can serve notice of cancellation as follows:

  • by post: Conclusive Financial Limited, 109 Bancroft, Hitchin, Hertfordshire, SG5 1NB
  • by email: claim@missoldiva.org.uk;
  • by telephone: 0333 444 0194; or

We may ask you why you are cancelling and use this information for service improvement. However, you are under no obligation to tell us why you cancelled.

5.5 Where you cancel an agreement with uswe will ask you whether you wish for us to withdraw the claim or whether you wish to continue it yourself. We will then update the respondent and where necessary the Financial Ombudsman Service and/or other relevant third party organisation as appropriate. Where you are continuing the claim yourself, it is solely your responsibility to make enquiries of relevant deadlines and steps that are required to be undertaken.

5.6 We may cancel the terms of engagement where we do not consider a claim has appropriate merit, where a claim is uneconomical for the company or where an actual or potential regulatory or commercial conflict of interest arises. Where we cancel pursuant to this clause, there will be no charge.

6.1 Complaints may be made either:

  • by post: Conclusive Financial Limited, 109 Bancroft, Hitchin, Hertfordshire, SG5 1NB;
  • by e-mail: complaints@missoldiva.org.uk; or
  • by telephone: 0333 444 0194.

6.2 Our full complaints procedure can be viewed at ******** and is available in other mediums on request.

6.3 If you are not satisfied with our response, or if a complaint is not resolved after eight weeks, you may refer the complaint to the Claims Management Ombudsman (a part of the Financial Ombudsman Service) to independently assess your complaint:

  • by post: Financial Ombudsman Service, Exchange Tower, Harbour Exchange, London, E14 9SR;
  • by email: complaint.info@financial-ombudsman.org.uk; or
  • by telephone: 0800 023 4567.

Further information about the Claims Management Ombudsman can be found at: https://cmc.financial-ombudsman.org.uk.

6.4 Time limits apply to complaints. You have six months to approach the Claims Management Ombudsman from the date of our Final Response, or where your complaint is not resolved by us after 8 weeks.

We will not be liable for any costs or losses caused to you as a result of:

  • your lack of co-operation
  • your failure to read and understand the documentation that we have provided to you where such information is reasonably clear or where you could have taken steps to clarify information
  • your failure to give us accurate or up to date information in a timely manner
  • delays or loss of information caused by your or our use of postal, telephony or email service providers
  • matters that we cannot reasonably control
  • losses which cannot be reasonably foreseen or which you could have taken steps to mitigate
  • the expiry of limitation dates caused by previous complaints unless we have specifically agreed to work to those deadlines and you have provided us with all reasonable information relating to the previous complaint.

The terms of engagement will terminate upon completion of the claims management service and upon payment by you of any fees or charges due to us. If we later become aware that your claim has been potentially under compensated (for example as a result of a regulatory change, court order, audit, third-party error or concealment or some similar basis), you agree that we may, at our discretion, contact you offering to provide further claims management services for the purpose of securing any further compensation that we feel may be due to you based on the underlying facts of the original claimYou shall be under no obligation to use us and we are under no obligation to contact you. Any further work would require you to enter a newly signed contract with us.
9.1 We reserve the right to recover the cost of solicitor fees, tracing fees, court fees and/or enforcement agent fees where it is necessary to enforce our right to payment of the success fee. Where there is a need for a replacement cheque or additional bank transfer attempt which is not caused by our fault, we reserve the right to deduct any cheque stopping fee or additional transfer charge which our bank charges us from your refund.

9.2 In the event of conflict, the provisions of this agreement will be interpreted in line with prevailing statutory and regulatory rules as in force from time to time.

9.3 Nothing within this agreement is intended to confer a benefit on a third party.

9.4 The company may assign or subcontract any or all of its rights and benefits arising from the terms of engagement with 21 days prior written notice (or shorter where required to comply with a legal or regulatory obligation).

9.5 If any part of the terms of engagement is found to be invalid or unenforceable, the other terms of this agreement will not be affected and will be read to give effect to the intended spirit of the overall agreement.

9.6 The terms and conditions in these terms of engagement will apply post termination where necessary to give effect to the agreement, its purpose and intention.

9.7 This agreement is subject to the laws and exclusive jurisdiction of the courts of England and Wales.

I, (first name) (last name), confirm that I have read and I accept the Pre contract information, Service Summary, Privacy Policy and these Terms of Engagement