Cancelling PPI letter of authority with claims company

[Lastchance]

HOW DO I CANCEL A LETTER OF AUTHORITY WITH A PPI CLAIMS COMPANY

After 6 months no further forward with my claim through a ppi claims company against a bank.

The company now want to put my claim through the Ombudsman, but that can take 2 years and there are moves to put a final deadline to claims.

Also the bank in question looks like it might move out of the UK soon.

I have sent a letter saying I don't want the claim pursued by the ppi claims company, nor for them to put my claim through the Ombudsman, to chase up the bank.

After several weeks still no reply back annulling my letter of authority to look into the ppi claim for me.

What is the procedure to cancel by letter of authority with the ppi claims firm, so if I manage to do the ppi claim myself at a future date, I do not have to pay a settlement fee to the ppi claims firm, who has done nothing.

In fact the ppi claims firm says this bank never answers their phone calls.

Thank you.

[EXC]

Re: Cancelling PPI letter of authority with claims company

You have the right to cancel your agreement with the CMC at any point but, depending on the circumstances and the terms of the contract, the CMC may be able to charge you for work they've done so far.

We'd need to know more about the history and status of the claim. Also who is the CMC?

[Lastchance]

Re: Cancelling PPI letter of authority with claims company

Stanton Fisher. Claim now 6 months old. This particular bank does not answer calls from Stanton Fisher, they have admitted themselves. Do not want the CMC to go to the Ombudsman which takes 2 years. At my rate of poverty there is no guarantee I will still be alive from winter to the next, as cannot afford to put on the central heating.

Also this particular bank has rumours flying about that it will leave Europe altogether, never mind the UK. It is also the worse offender in ignoring ppi claims.

Do you think Stanton Fisher will charge me for work, when they have failed by any letter to elicit any reply, please?

[EXC]

Re: Cancelling PPI letter of authority with claims company

According to their terms & conditions Stanton Fisher can charge you for work done if you cancel at this point. Whether they will or not it's difficult to say. However if it's the case that the bank will not deal with them it's difficult to see how they could enforce payment if they were never incapable of providing you with a claims management service.

Have you got it in writing from Stanton Fisher that the bank won't deal with them?

In any event I would make a complaint to the bank about them not dealing with your appointed representative. If they still refuse to it means you have proof that SF can't pursue your claim for you and you can rightly argue against paying any cancellation fee. If they concede and decide to deal with them then all the better.

Who is the bank?

[nemesis45]

Re: Cancelling PPI letter of authority with claims company

The "excuse" that the bank doesn't answer phone call I think is very weak, to my mind the contact should have been in writing from the start.
This I think a sufficient to aver that the claims company is not carrying out its obligations with due care.

nem

[Lastchance]

Re: Cancelling PPI letter of authority with claims company

Stanton Fisher did write, several times, with no reply. The operative said that this bank does not answer Stanton Fisher's calls on ppi claims.

I sent further proof of a copy of the loan guarantee to Stanton Fisher to send on to the bank, and the bank wrote to say they had never received the copies in the post or had lost it in the office somewhere.

Stanton Fisher want now to put the claim(s) through the Financial Ombudsman, which could take 2 years. As i am old, this is impractical as I cannot wait as I might be time expired.

The bank doing this batting off is HSBC, which might be due to leave Europe altogether in business.

I would much rather do a deal with HSBC and do a deal for a sort of 10 cents on the dollar, but know Stanton Fisher will try for the full amount, which doesn't seem likely.

And anyway why should I pay Stanton Fisher, when the claim(s) against HSBC will be pursued by the Financial Ombudsman, that a claimant can access free of charge.

What do you think, please?

[EXC]

Re: Cancelling PPI letter of authority with claims company

Just to put your mind at rest HSBC are not Europe altogether. They merely mooted the possibility of moving their head office abroad which would have no effect on their customers in the UK.

I'm assuming Stanton Fisher made a complaint (claim) for your PPI, so you need to establish if HSBC made a final response to it and what the response was ie did they say you didn't have PPI or that the PPI wasn't mis-sold? If that's the case your only option would be to go to the Financial Ombudsman in any event.

[Lastchance]

Re: Cancelling PPI letter of authority with claims company

There has been no acknowledgement as far as I am aware, and certainly no final decision, that should be done within 8 weeks of application.

The one claim started back in January 2015. The last info, gained by ringing Stanton Fisher, was that HSBC had lost the further paperwork sent to them by Stanton Fisher, that I had sent to Stanton Fisher.

So no acknowledgement no final decision from HSBC, who are just batting off Stanton Fisher.

Do you say I am stuck in paying admin fees to Stanton Fisher, even though it is a no win no fee arrangement, please?

[Debt Camel]

Re: Cancelling PPI letter of authority with claims company

Do you say I am stuck in paying admin fees to Stanton Fisher, even though it is a no win no fee arrangement, please?

Usually yes. There will be a clause in something you signed allowing them to recoup fees if you withdraw before the "win". Otherwise lots of people would sign up a Claims Firm to get things started, then cancel and the firms would have done a lot of the work for no money.

To be able to cancel and not pay any fees you would have to either prove they have done nothing or they have been completely incompetent.

I would much rather do a deal with HSBC and do a deal for a sort of 10 cents on the dollar, but know Stanton Fisher will try for the full amount, which doesn't seem likely.

That's not really how these things work. Either HSBC offer a refund, or they refuse but the Fin Omb. awards a refund, or you get nothing. This isn't a negotiation situation.

[Lastchance]

Re: Cancelling PPI letter of authority with claims company

As Stanton Fisher say that HSBC do not answer their phone calls, and have ignored the 8 week deadline for the final decision.

Can I ring HSBC direct as the one loan has the original paperwork that proves ppi named in full breakdown figures.

Do HSBC break law by not paying me when there is actual proof please?

I cannot wait the 2 years of the Financial Ombudsman, as my life is too poor and the government have half inched my state pension for half a decade,
whilst women MPs have kept their works pension age at 60.

Winter approaches and each winter is a battle of survival, in a house without central heating switched on as unaffordable.

As I have proof of original paperwork of the ppi, this was one ppi I had the greatest hope for.

So is HSBC in breach of law please?

[wales01man]

Re: Cancelling PPI letter of authority with claims company

You can go direct to HSBC to reclaim but bear in mind the claims company may be legally entitled to a percentage if you did get a refund from HSBC you could put aside the fees you may have to pay.

Getting the money yourself should be a good defence along with their excuses to win in court