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Claims Management Company been closed down ? What should you do ?

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  • Claims Management Company been closed down ? What should you do ?

    Claims Management Regulator Fact Sheet – Suspended or cancelled business

    If a claims management businesses authorisation has been suspended or cancelled it means that it will no longer be able to carry out any claims management services. As a result they will not be able to continue assisting consumers with their claims. If you find yourself in this position the following guidance might be helpful.


    What will happen to my agreement with the business?
    If the claim has not been completed you might be entitled to repayment of any fee. You should contact the claims management business immediately stating you are aware they are no longer able to provide the service as agreed with you and seek a refund of fee for any work not completed. If you have a ‘conditional fee agreement (CFA)’ with the business you might be entitled to repayment of the entire fee. A CFA means where the business has guaranteed they would refund your fee if your claim was not successful.


    I have entered into an agreement within the last 14 days?
    All clients who have an entered into an agreement are entitled to a 14 day cooling off period. This means you can cancel the agreement and request a refund of any fees paid. You should contact the claims management business as soon as possible informing them that you wish to cancel.


    I paid for the service by credit card, what should I do?
    If you did pay by credit card and the claims management business is no longer able to provide a service, you may be able to seek a refund direct from your credit card company. You should contact your credit card company and they will be able to advise if you have a claim. Consumer Direct also has useful advice on how to request a refund. Consumer Direct - Template Letter No.1 - Use when Goods and Services have been bought on credit


    I paid for the service by debit card, what should I do?
    Some banks and building societies operate voluntary schemes similar to those for credit cards; you will need to contact your debit card provider for further information.


    I have paid in cash, by cheque or banker draft
    If you have paid by any of the above means then you will not be able to recover the fee you paid other than to write and ask the business if they would be prepared to refund you if they have not provided the service or they are unable to provide the service as they are no longer authorised.


    My claim has been sent to a third party (loan provider or solicitor), what should I do?
    Contact the provider or solicitor and ask them to deal directly with you about your claim as the claims management business is no longer authorised. You should also write to the claims management business at their registered office address and lodge a complaint as they are no longer able to deal with your complaint. This may be helpful if the business goes into liquidation as your claim for a refund of fee, partial or otherwise, can be registered with the administrators.


    My claim has been sent to the Financial Services Ombudsman?
    If you know that your claim has been sent to the Financial Ombudsman then they will already have the claim documents. There is no need to contact the Ombudsman as they will contact you in due course. If you are not sure if your claim has been referred to the ombudsman please contact then to confirm they have details of your claim.


    Can I take any other action against the business?
    You might have a right to go to court for breach of contract, if a claims management business is no longer authorised. We would strongly recommend that you seek independent legal advice before taking any court action. Details of providers of free legal advice are below.
    “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

    Find Solicitors offering fixed fees on our sister site - JustBeagle.com

  • #2
    Re: Claims Management Company been closed down ? What should you do ?

    To successfully reclaim your money if your CMC has been closed down, or just gone AWOL you need to follow some steps to give you the best chance of success.


    1: Write to the claims company you engaged and ask them for a refund due to breach of contract. Most companies will have complaints procedures publicised on their websites so you should check those first and go through that procedure.

    Your Name & Address

    Date

    Dear Sirs

    Reference number XXXXXXXXXXXXXX

    Please refund all monies paid to your company with regards any/all claims I have with your company.

    As the Claims Regulation Authority have suspended/cancelled your authority to to carry out any claims management services you will not be able to continue assisting me with my claims. I consider this to be a breach of contract and therefore entitled to a full refund.

    I do not give your company permission to pass my details on to any third party, and request a return of any and all documentation relating to my personal financial affairs.

    Please respond positively and make the refund of Łtotal amount by cheque/refund my credit card etc within 14 days to avoid further action against your company.

    Sincerely

    yourname
    2: After 14 days if you have had no response, or a refusal to refund you, if you used a credit card to make the payment, write to your credit card company.

    Some credit card companies provide Section 75 forms which you can fill out and then send back to them with any supporting documents. To obtain one of these just call your credit card provider and request one.

    If you paid by debit card you are not covered by section 75 and there is no legal obligation on the card provider to reimburse you. You may though be able to ask for money back under the 'chargeback' procedure operated by members of the Visa and Mastercard schemes - speak to your bank to see if this is possible.

    Otherwise amend the following letter to suit your circumstances.



    your name & address

    Date



    Dear Sirs


    Account No account number of card
    Consumer Credit Act 1974 (as amended)

    Please find enclosed copies of letters to insert trader / retailer or supplier in relation to claims management services, which I purchased on insert date at a cost of Łenter cost here, using my credit card under a regulated credit agreement.

    The company had their authorisation suspended/cancelledby the Claims Regulation Authority on insert date and they are no longer legally capable of fulfilling the services paid for.

    Under section 75 of the Consumer Credit Act 1974, I hold you jointly and severally liable for the breach of contract with insert trader / retailer or supplier here and therefore seek the same resolution as requested from them in the attached correspondence within the next 14 days.

    Yours sincerely/faithfully
    Please post any replies on the forum on your own thread.

    If you are unable to get a response from the company or you didnt use a credit card then you may need to take legal action to recover your money. If the company has gone into administration then you may need to contact the administrators of the company. Again please post a thread on the forum and we will try and assist you.
    Last edited by Amethyst; 29th March 2010, 07:43:AM.
    “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

    Find Solicitors offering fixed fees on our sister site - JustBeagle.com

    Comment


    • #3
      Re: Claims Management Company been closed down ? What should you do ?

      I can say that there are lot of companies all around the world offering claim management system for your credit card, loans, mortgages and for payment protection insurance like UK Money Solutions.

      It seems to be one of the important article what to do if your claim management company is down?

      Comment


      • #4
        Re: Claims Management Company been closed down ? What should you do ?

        Can you explain the question? Do you mean what you do when the claims management company goes bust/bankrupt?
        "Family means that no one gets forgotten or left behind"
        (quote from David Ogden Stiers)

        Comment


        • #5
          Re: Claims Management Company been closed down ? What should you do ?

          I received two application packs today fromn a CMC called Claims Advisory Group (CAG).

          In their ToB it states they will claim 39% (yes, 39%) of any PPI reclaimed.

          I was tempted I must say as I have dozens of old cards, paid up loans etc to explore for PPI but at that rate they can fox trot.

          Comment

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          INFORMATION

          Claims Management Compare CMCs
          Before using a claims management company make sure you DO YOUR RESEARCH. Firms can charge up to 50% of any refund you might be due.


          LegalBeagles helps you compare CMCs on price and ratings of claims management companies that offer to help reclaim PPI (Payment Protection Insurance) or other financial products.


          If you have a problem with a Claims Management Company you can post on our consumer forum for help in the first instance.


          To make a formal complaint you should complain to the CMC in the first instance, and if there has been no resolution within 8 weeks you can take your complaint to the Legal Ombudsman.
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