Frequently Asked Questions

What is Consumer Credit Insurance or ‘CCI’?

Consumer Credit Insurance (CCI) is an insurance product that is sold alongside credit agreements. It isn’t just credit cards and loans, but also agreements such as home loans, mortgages and car finance. It’s supposed to help the customer keep up payments on their credit agreements if they became sick or unemployed.

How do I know if I was mis-sold CCI?

We believe a significant proportion of CCI was mis-sold. CCI was very expensive and many of the things you may have expected it to cover simply weren’t covered. It generally didn’t even offer good value for money, but typically you weren’t told this. Where CCI was sold, a recent ASIC report suggests it was commonly mis-sold. Plain and simple!

Can I make a claim even if my CCI policy has been closed for some time?

Yes. In many cases, we can make a claim irrespective of whether your account is still open.

However the sooner you act, the better.

Will I be charged if my claim fails?


Why does Reclaimer exist?

Reclaimer was born to help people like you claim back money that your bank wrongly charged you for, or mis-sold to you alongside your credit agreements.

What will Reclaimer do for me?

We pursue claims directly with banks and financial institutions and help you to claim back what is rightfully yours.

How much will I be charged if my claim is successful?

We charge a success fee for providing the claim service. As long as you don’t cancel or end your agreement with us, the success fee is the only fee we will charge you for the claim service. The success fee is 30% (plus GST) of any compensation: this is equivalent to $330 for every $1,000 of compensation.

How long will it take?

Based on experience in the United Kingdom, we expect typical claims may take around five months for a settlement and that some can be resolved in around 8-12 weeks.

During this time we’ll do all the work for you and dealing directly with the bank on your behalf.

What if a bank or lender contacts me regarding my claim?

We are your representatives. We recommend you do not respond yourself as the banks may use your inexperience in dealing with matters of this type to your detriment without you even realising it.

If your lenders contact you, you can tell them that Reclaimer is your representative in this matter.

Simply refer them to us, and then let us know by email at

I don’t think I’m entitled to claim back my CCI.

You’re not alone in thinking that but you should check anyway.

Many people weren’t even told CCI was being added to their credit agreements.

In other words, in many cases, it was sold without the customer’s knowledge.

What Reclaimer will do is:

  • Look into whether or not you were sold CCI; and
  • Establish whether or not you have a basis of claim.

Can’t I do this myself? Why do I need Reclaimer?

Theoretically you can take on the banks yourself. The question is whether you have the resources and experience to take on the most powerful institutions in the world. Has the business that ripped everyone off previously changed their ways to such an extent that you’re confident they’ll pay back everything you’re owed ASAP?

As for Reclaimer, our job is to get your lender to pay you back the money. That’s all we do. You see, we’re a very boring company.

We do one thing and at this one thing, we have the experience of recovering over $1 billion of junk insurance under our belt, so we’re pretty sure we’re the best in the world. 

Why do you charge commission?

Don’t fall off your seat but here’s the shocking thing: We do this for money. 

Yes, it’s also true to say that fighting the banks on behalf of customers has become a mission for us after seeing the scale of the wrongdoing. The mind-blowing thing about us is that we want to make money. And the way we can make the most money is to be the best in the world at making money for our clients.  So our incentives – yours and ours – are aligned. 

The simple truth is that the more you make the more we make. That’s our business model.

How will Reclaimer do this for me?

When it comes to providing us with information, we like to keep our process straightforward. In fact, all we need from you to start the process is some basic information. We don’t require account numbers, just the name of the lenders (the banks/financial institutions) you took the original products out with.

If you have taken out any type of finance agreement e.g. credit card, personal loan, home loan and/or car loan between the late 1990’s and 2019 and you know the identity of the lender, include this information in the form. You can start your claim here.

Once we receive your information, we will approach the lenders to establish if they sold you CCI alongside your credit agreements (with or without your knowledge).

Once we have established if any of your credit agreements had CCI sold alongside them and you would like us to pursue this claim on your behalf, then we will ask for additional information regarding your personal circumstances at the time you were sold CCI.

This allows us to assess your claim and in appropriate cases develop a strong argument on your behalf to fight your claim.

How will my refund be paid to me if my claim is successful?

We ask that lenders pay refunds by bank transfer. However, the exact method will vary depending on the lender’s policy. Your refund will generally be issued in one of the following ways: 

  • Payment to your nominated bank account
  • Payment to your existing account or debt, therefore reducing the outstanding balance
  • Payment to you by cheque
  • Payment to Reclaimer; we would transfer the refund to your nominated bank account, minus our fee


Where a lender makes a payment to you or your account directly, our fee won’t have been deducted from the refund amount before you receive it. We will send you an invoice for our fee when a refund payment is not made to Reclaimer.