The company says it, "helps consumers who have been ripped off by banks and lenders with mis-sold payment protection insurance (PPI), excessive bank charges, unfair credit agreements and mortgage offers that have not complied with the law."
Demand for its services is soaring, it says. In the last three months alone, Ratio Money has seen its customer base double in size and the company expects the rate of growth to increase further as people look for help with unfair credit agreements.
“People in this country are suffering hardship and stress from unfair credit agreements and substantial overcharging by the banks,” said Ratio Money’s managing director, Matthew Porteus.
“We are claiming justice for these consumers by seeking to have unfair debt written off and we are doing so with low and transparent fees.
“It’s an offer that is being extremely well received by consumers and our rapid growth means that we will be recruiting another 125 people over the next year.”
For its expansion, Ratio Money will be looking for claims handlers, customer services consultants and panel managers who will be responsible for dealing with a national team of specialist lawyers.
The company sets itself apart from the competition by being the only financial claims management specialist to provide comprehensive manual audits of client credit agreements.
These audits scrutinise the credit agreements much closer than computer-generated reports and address all areas of mis-selling.
When the audit shows the agreement is unfair or unenforceable, Ratio Money works with a panel of specialist solicitors to fight for recompense.
Ratio Money’s fees to support consumers with unfair credit agreements are low-cost, transparent and fixed. It costs just £295 for the first credit agreement and £195 thereafter and all but £50 of each is refundable if the agreement is indeed valid.
Competitors’ upfront fees are generally much higher and many also charge a percentage of any settlement that is recovered. Ratio Money seeks to write off all outstanding debt and consumers receive 100 per cent of any settlement.
