banksmart

[chrissiegee]

I could really give myself a good kicking! I stupidly returned a form from them to potentially claim PPI - thinking, no win, no fee - why not? Now, after looking at several posts on the internet it would seem that Banksmart are not a company to get involved with. I want out, but in order to cancel they want over £400 in fees. I'm really worried that if I carry on the fees will go on and on and am wondering if it''s better just to cough up the money now - although I'll have to borrow it to pay them.
Are they entitled to ask for this money, and if they find that a claim was paid (I was paid something from a lender, but as it was about 12 years ago, I can't remember who) are they entitled to anything from that? Feelig very stupid - and I'm normally the sensible one..

[Kati]

Re: banksmart

I'll tag [MENTION=332]EXC[/MENTION] for you ... he might be able to help xx

[EXC]

Re: banksmart

In some cases it might be worth not cancelling and just fill in the forms that they send you to fill in. However they tend to bombard you with requests for information for possible PPI claims that you've not expressly asked them to pursue and in which case they shouldn't be asking for a cancellation fee as there is no agreement to cancel.

On your Letter of Authority what lender/account did you put in the first box (like the one attached) and what lender/account are they claiming a cancellation fee for?

[chrissiegee]

Re: banksmart

It was for Lloyds - Cheltenham and Glos. They're claiming for 'default charges' and PPI - 2 separate claims.
I was wondering if it would just be better to keep going but seem to have to keep completing the same forms of authority..which of course I don't mind doing as long as I'm not going to be racking up the charges even more.

[EXC]

Re: banksmart

Letters of Authority only have a shelf life of 6 months before banks request a new one. I'd just roll with it, you've got nothing to lose. They will charge you for 'work done' if you don't return them.