Updated: Nov 9
Remediator is helping residents in the Hunter region of NSW to recoup an average refund of $2,776 for junk insurance and dodgy financial advice fees.
Resident Danny Lawson from Jerrys Plains features in The Newcastle Herald received a refund of $4,484 for consumer credit insurance he unknowingly paid on a credit card and loan.
The policy was to provide cover if he missed minimum repayments due to unemployment, illness or injury. But he was never told about its exclusions and limitations.
Lawson is one of a range of Hunter region residents who have staked successful claims via Remediator, averaging $2,776 so far.
But there are refunds flowing in all over the country
Recent examples of Royal Commission refunds achieved by Remediator:
Paul from South Sydney received $7,218 back for mis-sold CCI, GAP Insurance and Extended Warranty on a car loan
Brian from Adelaide received $11,655 for financial advice fees charged for but never received
Melissa from Perth received $4,369 for financial advice fees charged for but never received
George from Melbourne received $3,265 back for mis-sold CCI on a credit card
Kurt from South-West Sydney received $1,427 for mis-sold extended warranty on a car loan
Remediator is Australia’s newest consumer remediation service and was set up in response to the findings of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
Set up in late 2020, Remediator acts as a personalised remediation agent for individual consumers. and manages the entire refund process from claim to settlement on your behalf.
While there are other ways to claim Royal Commission refunds, Remediator is among the most efficient.
The Royal Commission revealed that banks and insurers used pressure tactics to sell billions of dollars worth of junk insurance and many financial advisers have also charged fees for services they never provided. ASIC estimates there to be $3.55 billion in total refunds owed to over 3.6 million consumers.
Remediator General Manager Monique Gasson told the Newcastle Herald; “The Banking Royal Commission revealed millions of Australians had paid for junk insurance and ongoing financial advice fees where they received no service ”.
“Unfortunately many of those Australians have no idea they’re eligible to receive refunds. Remediator is here to solve that problem by helping people get refunds for money they should never have been charged.”
Remediator works on a no-win-no-fee basis: if Remediator can’t secure a refund, there’s no fee. If successful, Remediator’s fee is 20% plus GST of the refund amount. Remediator only collect this fee if an applicant is paid a refund.