Claim guys reclaiming Ppi

I had a significant level of credit from 2001 on credit cards, loans and overdrafts.

I had no old paperwork or policy numbers and was convinced I didn't have PPI on any of my credit as I had read something about this round 2001 and ALWAYS specifically asked for it not to be included. However, I have had a few friends who have made successful claims so figured I might as well give it a speculative shot.

I didn't have the time or inclination to do any of the leg-work myself, so Googled 'PPI Claim Companies' and decided on 'The Claims Guys' due to the Ronseal-type nature of their name.

I filled in the forms they sent me with nothing more than my personal details, previous addresses and the company that provided the credit. In total I filled out 6 letters of authority for 6 companies with whom I held credit.

I read the forms and T&C's and fully understood that I would part with 30% + VAT (36%) of any successful claim and that although they work on a no-win, no-fee basis, the fee would become due once I had been offered any settlement, not when it has been paid (more on this later). The fees are high, but my view is that 64% of something is better than 100% of nothing, which is exactly the amount I would have if I'd have chosen to do this myself.

That was approximately 4 months ago and as it stands at the moment, I am awaiting my first payout of C. £1,500 from HSBC and have been told that 2 more of the 6 companies added PPI without my consent or knowledge.

When I was offered the £1,500 compensation from HSBC, I was obviously very pleased. But I was also disgusted that PPI was added to my policies despite me specifically asking for it not to be and having no further discussions about it. I always thought I couldn't have been mis-sold it due to this conversation, but this was not mis-selling, but clearly criminal! I would urge anyone who had asked for PPI not to be included to make a claim as it is highly likely you would have had it anyway!

I expect the other 2 companies will be similar amounts, meaning I will eventually receive a total of around £4,500 from the 3 companies and will pay £1,620 of the in fees to The Claims Guys. I will be left with £2,880 of money that I never expected to get, all for filling out a few forms and sending them back in the pre-paid envelopes.

Would I have used The Claims Guys had I have known how much I was due?

Maybe not. But equally I might not have known how much I was due if it wasn't for them tracking down all my old policies and doing the leg-work for me.

Yes, they charge a high fee for the work they do, but on a whole I am very happy with the work they have done for me and the compensation they have secured.

The only thing that has been a little annoying is the part about the fee being due once the OFFER of a settlement has been made. They are 'no-win, no-fee' which suggests they take their fees from the proceeds, but this is not possible as the proceeds have to be paid directly to you in most cases.

HSBC offered my settlement on 1st October. I sent the forms back straight away and it could be up to 28 working days (14th November based on date of receipt) before I receive my money. However, The Claims Guys have already called me and written to me to try and collect their fee despite me not being paid yet. I kind of understand why this is as I would imagine from reading a lot of the comments on this page and other forums that a lot of people simply don't pay them! Despite their fee being on the high side, if you have signed an agreement, then you are duty bound to pay this.

I have been very open and honest with them on the phone and told them that I can't pay their fees until I receive the compensation. They have said that they have to call every 4 working days (as this is company policy) until the balance is collected. Every time I have spoken to them (twice since 1st October) I refer them back to the original conversation that I can't pay until I receive the compensation and also point out that they are wasting their time and resources by calling me before that point. The callers are fine with this but say due to their company policy they will keep calling.

This doesn't really bother me - it is more annoying having to constantly repeat the same thing than anything else. But I imagine for more vulnerable people it could be seen as pressurising or harassment. They will not get a penny out of me until my compensation is paid, at which time I will be more than happy to pay their fees and thank them for the work they have done.

So, if you know you are due a significant payout and have the time to spare, I would suggest doing this yourself using Martin's instructions.

But if you don't know what you are due, have none of the information and don't even know if you have PPI, The Claims Guys has worked for me, albeit I am giving up a significant proportion of the compensation I am receiving. But like I said before, 64% of a lot is better than 100% of nothing!

Some tips if you do deal with The Claims Guys or other similar companies:

1) Don't give them your mobile number or usual email address. I gave them my 'free' online email address rather than my private one so any spam coming from them won't be of any impact. They also only have my home landline number that I hardly ever use, so most of the calls to collect the payment are missed or ignored.

2) Be assertive and honest when dealing with them. If they ask for something that you can't do (like for payment prior to receiving compensation) just tell them it is not possible. Don't feel pressured into doing something you can't afford or don't feel comfortable with.

3) Pay your dues. If you have signed documents saying you are happy to pay their fees, don't then start moaning about how high these are after you have been offered the compensation. They have done the leg-work, they deserve to be paid for it (even if it is expensive).

ps. I do not work for The Claims Guys, I just thought a more balanced view was required than just saying they are a bunch of cowboys, crooks or sharks!!

Lingy wrote: »

I always thought I couldn't have been mis-sold it due to this conversation, but this was not mis-selling, but clearly criminal! I would urge anyone who had asked for PPI not to be included to make a claim as it is highly likely you would have had it anyway!

Unfortunately, not true. You have to sign for PPI for a loan, or agree to it online. You have to verbally agree or sig for it for a credit card. If you have a credit card it's listed on your monthly statement.

No one added PPI without your knowledge, you just forgot you agreed to it.

Lingy wrote: »

ps. I do not work for The Claims Guys, I just thought a more balanced view was required than just saying they are a bunch of cowboys, crooks or sharks!!

So is your balanced view they are are a bunch of cowboys, crooks or sharks?

I am new to posting on this forum so didn't realise I had received responses.

So if someone comes on and says something you don't agree with, as a regular poster (clearly with plenty of time on your hands) you automatically label them a 'Spammer'.

I really do hate internet forums where this happens. Bullying tactics by regular users to keep any new perspectives silent.