Why should I use Phoenix FR and not claim it myself?

You certainly can do this providing you know all the implications. You can download one of the letters suggested in the papers and assuming you have calculated how much they have over charged you send it to the bank.

They will then send a letter telling you politely to go away or will offer a nominal amount to settle, say 10% to 20% of what you ask for. You can then either send more letters to the bank, which is a waste of time or you have to issue a county court summons, pay the cost of the summons, ensuring it is scrupulously correct otherwise the solicitors for the banks will have it thrown out.

If you have done this correctly, the bank will issue a defence. They will request full details of your calculation of charges that will have to be in a form acceptable to the court. Then after a suitable time has elapsed an allocation questionnaire will be issued to you which you must send to the court. This may cost more money depending on how much you have claimed. At that time if you are lucky, they may increase their re-imbursement offer to a maximum of 50%. Then you have to decide whether to accept or risk going to court. If this does occur and you do not attend your case will be thrown out!

If you are confident about all of this we would recommend for you to do it yourself and wish you all the best.

However if we act on your behalf then we will remove the stress, effort and worry. PFR will undertake all actions necessary, the calculation of charges plus interest that we can claim back (which normally cover most of our commission) and we provide legal representation through our solicitor, who will go to court on your behalf if necessary. We will invariably claim 100% of your fines together with all outstanding interest and normally recover all of it.