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joint/single PPI claim
winters_witch
Posts: 3 Newbie
Before I found this, I used a company to claim PPI :eek:. Only used company for old loans in my own name but banks have come direct to me with refund offer for joint loans with my partner. Question - he didn't sign/engage with the claims company so do I have to carry on using them for the joint refund or just for the refunds in my name?
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Comments
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He can have his half of any redress, but you will pay the claims company out of your half.0
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Ah thanks for that - better than nothing and lesson learnt!0
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Check that it is better than nothing. If they take over 50% if the redress, you will be out of pocket.0
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??Deleted_User wrote: »Check that it is better than nothing. If they take over 50% if the redress, you will be out of pocket.
The Claims Company will want around a third of the whole redress award (plus VAT)
The Op's partner will want his 50% of the whole redress.
Whatever is left belongs to the OP.
So I can't see the OP being "out-of-pocket"?
You'll have to check the contract you've signed with the Claim Company. It's very likely you've agreed for them to represent you in ALL of your PPI complaints..winters_witch wrote: »so do I have to carry on using them for the joint refund or just for the refunds in my name?0 -
If it's a third, the OP will be fine. It's only if the total fee goes over 50% that the OP would be out of pocket (remembering to add VAT).0
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thanks - I've checked the small print - looks like I've agreed for the company to represent me in all claims so might have a struggle to wriggle out of anything if that means all PPI have been even party to. The company have now written asking for my partner's authority for them to act - presumably so they can tie up any confusion about fees. I don't think he should be liable for any fees to them but I guess they could just charge me the total fee for the whole of the joint refund. I'll give it a try and feedback if I get anywhere0
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He won't be. Only you are liable. It's your contract, not his.winters_witch wrote: »I don't think he should be liable for any fees
Remember, The Claim Company will charge a percentage of the WHOLE redress.0
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