PPI Claim Problems

[NessaMeli]

If anyone has been contacted by a company who recovers PPI/Interest fees for you be aware of the following:

They will charge you an amount plus VAT for their services which is understandable as they are a company and have to make money. What they don't tell you is that this amount will be invoiced to you if your account is in arrears as the recovery will be paid into that account.

Also, something they definately will not tell you, and what prompted me to write this blog, is that you will receive a second invoice from the law firm they use, which almost doubles their fee in total.

If your account isn't in arrears then you'll get a cheque with the fee deducted which is ok in my book as it's better than nothing.

Having said that, if I'd known I was going to get two invoices on one of my accounts I would have done it all myself via moneysavingexpert.co.uk which I would advise anyone else to do. There's templates and everything on there, plus other websites have the same free advice etc.

[TUTTSI]

Re: PPI Claim Problems

Hi NessaMeli

Can you please let us know who this Claims Management Company are?

Are they authorised by the Ministry of Justice and if so what is their authorisation number?

Did they send you their Terms and Conditions before you signed up for their service?

Were you aware of the way that they would take money from your credit card?

You can of course complain to your credit card provider if they have taken money without your authority.

There are certain guidelines that a Claims Management Company should abide by, but they rarely do unfortunately.

Please let us have all the information so we can help you and others know how this company operate.

How much money did they take from you and what percentage of recovery are they charging?

PPI is easy to reclaim and really there is no need to have used a CMC and all the money revovered would have been ALL yours.

If anyone has been contacted by a company who recovers PPI/Interest fees for you be aware of the following:

They will charge you an amount plus VAT for their services which is understandable as they are a company and have to make money. What they don't tell you is that this amount will be invoiced to you if your account is in arrears as the recovery will be paid into that account.

Also, something they definately will not tell you, and what prompted me to write this blog, is that you will receive a second invoice from the law firm they use, which almost doubles their fee in total.

If your account isn't in arrears then you'll get a cheque with the fee deducted which is ok in my book as it's better than nothing.

Having said that, if I'd known I was going to get two invoices on one of my accounts I would have done it all myself via moneysavingexpert.co.uk which I would advise anyone else to do. There's templates and everything on there, plus other websites have the same free advice etc.

[NessaMeli]

Re: PPI Claim Problems

They are a legitimate company, I checked them out first but I'm afraid to mention their name and the lawyers they use on this site as I've lost my trust completely and it wouldn't surprise me if they sued me for liable. If you want their names I can email them to you privately but I don't want them connected to me, even though this site protects identities of it's users, I can't afford not to be paranoid! (hate that word but it's how I've been made to feel).

I'm also having to pay the HMRC a monthly amout to pay back the overpayment that was made to me via the tax credit overpayment error, and as my youngest child is now an adult I don't qualify anymore, so my credits can't be set against the money they overpaid me. The HMRC are more powerful than the police! I've checked this out as well and again there's nothing I can do about it.

I've come to the conclusion that if anyone tries to help you out financially, for instance everyone was talking about the new tax credit scheme years ago and encouraging others to apply, and also a call from a legitimate company regarding PPI claims, just walk away, take no notice and go without the financial gain because in years to come it will backfire big time.

I've emailed an official complaint to the PPI claim company and the lawyers, with all the facts and what I was told and not told etc, so I will keep this blog up to date with their reply.

I do understand that we must always check the small print and I admit that's my failing. However, I'm confident that it possibly wouldn't make sense as small print is rarely written in plain English, so I'm not sure it would have made a difference.

At my age I should have known better and I've certaily learnt a lesson here - I just want others to learn from my mistake rather than find out for themselves how these companies operate.

If you want the company names I can email them to you, although I'm not sure how we're going to do that without making our email addresses public.

Kind regards.

[Celestine]

Re: PPI Claim Problems

Hi NessaMeli

You can send PM's (Private messages) internally on this site. No need to share email addresses. I'll send you a PM and you can click reply.....easy!

Welcome to Legal Beagles and thanks for taking the time to tell us your story.

Cel x