Cento Client Review ( CCR Claims ) Client connection Ltd

[Amethyst]

Re: Cento Client Review

Claims management regulation fees determination - Ministry of Justice

and

https://www.claimsregulation.gov.uk/...pdate_2009.pdf

are worth reading

[EXC]

Re: Cento Client Review

Exactly.

I wonder how widespread this type of registration fee based on profit/turnover is in other regulated markets?

Do the MOJ regulate any other markets?

[Amethyst]

Re: Cento Client Review

So do I. Who is the most profitable company (don't answer) and who has regular meetings with the OFT (don't answer that either) and who has a large number of complaints against them and absolutely nothing being done by the MOJ (dont answer that either but its the same company).

[EXC]

Re: Cento Client Review

I stand corrected and find that a little disturbing.

Re: Cento Client Review

As we all know Cento have not been arround for a year yet, February I believe was the date they were first incorporated as a LTD company.

So when do they pay this fee to the MOJ on their profits?

Thanks Moebus for bringing this point up and highlighting the connection with the MOJ.

Tuttsi

[Amethyst]

Re: Cento Client Review

It is actually between 0.2 and 0.4% of annual turnover (so £3500 ish on £1million annual turnover). So % of profit depends on margins and turnover. Plus an initial application fee £450 to £900 application fee.

The application form must be accompanied by a cheque for the application fee. This is £450 for businesses with a turnover of less than £0.5million, £675 for businesses with turnover between £0.5 and £1 million and £900 for businesses with a turnover of more than £1 million. If the application is in order an invoice will be issued for the annual fee, in accordance with a scale beginning at £100. The fee scale and guidance on the way in which turnover must be calculated are available in the Completing the Application Form Guidance Note. Full details are set out in the Fees Determination 2009.

Annual fee
4 (1)Authorised businesses will pay an annual fee.
(2) Subject to sub-paragraphs (3) and (4), the annual fee shall be equal to -
0.386% of annual turnover up to £1 million, plus
0.332% of annual turnover between £1 million and £5 million, plus
0.240% of annual turnover above £5 million.
(3) The fee under sub-paragraph (2) shall be no more than -
a) £25,000 where there is a contractual relationship with a client, or
b) £10,000 where there is no contractual relationship with clients.
(4) Where the annual turnover of a business is £103,630 or less, then the
annual fee will be a fixed fee of –
Annual Turnover of Authorised
Business
Annual Fee Payable
Under £5,000 £100
£5,000 - £14,999 £200
£15,000 - £24,999 £300
£25,000 - £103,630 £400
Compliance
5 Where the authorised business does not provide the annual turnover figures
requested the Regulator may use the previous year’s actual or estimated
annual turnover figure to calculate and issue an invoice pending the
information required being supplied.

[EXC]

Re: Cento Client Review

Incidentally, not only does the MOJ take an annual fee from Cento it also takes 40% of its profits - hardly leads to impartial advice to consumers as Cento must be (by far) its biggest contributor.

All CMCs registered with MOJ pay an annual registration fee - I think it's around £1500 - £2000?

I assume you mean this represents 40% of their profits. Surely you're not suggesting MOJ has some kind of profit sharing arrangment with a firm it regulates?

[MOBEUS]

Re: Cento Client Review

Very good point RedRose. I for one am getting concerned about Cento's erratic behaviour. Their licence expires in March....I'm not a betting gal but I seriously doubt they will get a renewal.

My fear is if they then go insolvent, taking everyones money with them.

Then they set up a new company to start over again.

It angers me that the MOJ take fees to licence these companies, but don't pay attention to clear breaches when they are staring them in the face.

Please, can we have some posts from people who have had success with this company? I sincerely hope this is possible.......

I have just returned to this Forum after a (too) long absence and am intrigued by the Cento thread.

Incidentally, not only does the MOJ take an annual fee from Cento it also takes 40% of its profits - hardly leads to impartial advice to consumers as Cento must be (by far) its biggest contributor.

The vast majority of their cases (and therefore their clients money) will be lost as they have little basis in Law.

My advice to all people who have parted with money would be to look closely at Cento's professional indemnity insurance (if they have any) and sue for negligent advice.

[MrsSkint]

Re: Cento Client Review

Hi there Mio0710

Sweetheart do not touch CMCs with a bargepole! Really, all they will do is fleece you. I'm still trying to get out of the contract I have with a CMC, they really are a bunch of cowboys. And with help from this site I know I have a good chance. Everything you need to know is on this forum including template letters and what to do next. Just shout if you need to know anything xxx

[RedRose]

Re: Cento Client Review

An application for permission to appeal to the Supreme Court, was lodged on 2nd December 2009 in the Heath/SPML case - http://www.bailii.org/cgi-bin/markup...method=boolean


also have a look at the test case last week http://www.bailii.org/ew/cases/EWHC/QB/2009/3417.html

Thank you - I will have a careful read of these tomorrow.
Linda.

Re: Cento Client Review

Hi and welcome to Legal Beagles

We so far have not found one single person who has recovered any money whatsoever and this goes back to last March when they first came on the scene.

The MOJ web site states that you should not be paying upfront for claims managment fees and that they are not allowed to cold call you.

I certainly would not give any more personal info than you have already given and that my friend is too much info already.

You are right to be cautious, do loads of research before parting with your hard earned cash.

Take some time and look arround these forums and you will see that anything they can do for you can be achieved here without costing you any money and without giving your personal information to third parties. After all how did they get your phone number in the first place?

Tuttsi

I was phoned by them 2 weeks ago telling me they could recover all loan and credit cards if they could find any of the 18 faults within the credit agreements. They told me it was no win no fee and they would take 30% of any funds they could get me. They told me these can go back as far as 1974 for loans and 1990 for credit cards. In the early 90s I was a late teen with no idea of being careful with money. I took out loans with ppi and credit card bills were always being charged for late payments and going over agreed limits so I gave told them all this. Also at present have a northern rock loan with less than £2000 left owing. Never heard anything until 4 days ago when they rung me to tell me that the solicitor was very interested and needed to send me a claims pack out so they could get the ball rolling. I was asked to verify name and address and d.o.b. Did all this was then told all I had to do now was pay for the claims pack £299.95. They told me to pay on credit card because if nothing happens I can request the credit card company to reclaim the funds back. They said the payment was because sometimes creditor contact the customer instead of there solicitor so the fund is to protect the solicitor but would be refunded when all cases were closed. I refused to give credit card details because I didn't know who they were so they gave me m.o.j website and a number to check to verify they were genuine. Any body got any advise as to wether I pay them or not ????

[Amethyst]

Re: Cento Client Review

Hi
Finally got a letter from Legal Redress today re my loan with Abbeyloan. Some initial blurp and then
"Having reviewed your loan agreement with Abbey we can report that there is an argument challenging the way that the lender has calculated the amount of credit and repayments set out on the loan agreement. That particular argument falls within the parameter of a number of test cases that are currently coming before the Courts in England and Wales. In particular there is a case being appealed to the Supreme Court which will have very important implications for unenforceable loan claims"

They go on to say their Solicitors advise it is appropriate to await the outcome of these cases and in the mean time I should continue to make the agreed payments to Abbey.

At least it looks like something has been done and I have something in writing.
Linda.

An application for permission to appeal to the Supreme Court, was lodged on 2nd December 2009 in the Heath/SPML case - http://www.bailii.org/cgi-bin/markup...method=boolean


also have a look at the test case last week http://www.bailii.org/ew/cases/EWHC/QB/2009/3417.html

[RedRose]

Re: Cento Client Review

Hi Mia
As you will see from this thread there is yet to be any body posting on here who has been successful, I paid my money back in June (interestingly much less than the fee they are asking you for) and I get passed from one story to the next each time I call them for an update. On the flip side when I asked a similar question here it was pointed out to me that people with success stories often don't report them on sites. I wouldn't like to advise either way but it seems that all that they offer to do can be done by consumers ouselves for a far smaller cost and there are a lot of threads / letters etc on here which can help. I'm only a site user not an editor so I am sure someone will get back to you soon. Linda.

[Mia0710]

Re: Cento Client Review

I was phoned by them 2 weeks ago telling me they could recover all loan and credit cards if they could find any of the 18 faults within the credit agreements. They told me it was no win no fee and they would take 30% of any funds they could get me. They told me these can go back as far as 1974 for loans and 1990 for credit cards. In the early 90s I was a late teen with no idea of being careful with money. I took out loans with ppi and credit card bills were always being charged for late payments and going over agreed limits so I gave told them all this. Also at present have a northern rock loan with less than £2000 left owing. Never heard anything until 4 days ago when they rung me to tell me that the solicitor was very interested and needed to send me a claims pack out so they could get the ball rolling. I was asked to verify name and address and d.o.b. Did all this was then told all I had to do now was pay for the claims pack £299.95. They told me to pay on credit card because if nothing happens I can request the credit card company to reclaim the funds back. They said the payment was because sometimes creditor contact the customer instead of there solicitor so the fund is to protect the solicitor but would be refunded when all cases were closed. I refused to give credit card details because I didn't know who they were so they gave me m.o.j website and a number to check to verify they were genuine. Any body got any advise as to wether I pay them or not ????

[RedRose]

Re: Cento Client Review

Hi
Finally got a letter from Legal Redress today re my loan with Abbeyloan. Some initial blurp and then
"Having reviewed your loan agreement with Abbey we can report that there is an argument challenging the way that the lender has calculated the amount of credit and repayments set out on the loan agreement. That particular argument falls within the parameter of a number of test cases that are currently coming before the Courts in England and Wales. In particular there is a case being appealed to the Supreme Court which will have very important implications for unenforceable loan claims"

They go on to say their Solicitors advise it is appropriate to await the outcome of these cases and in the mean time I should continue to make the agreed payments to Abbey.

At least it looks like something has been done and I have something in writing.
Linda.