Ppi panic!!

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Aaronsmum
Aaronsmum Posts: 11 Forumite
in Reclaim PPI & other insurance
Hello folks

A few hours ago I signed an agreement for Action Direct to act on my behalf against PPI taken out by Lloyds and posted it before my friend told me I could save their fees by doing it myself.

Am I now legally bound to allow them to act on my behalf as I just phoned Lloyds myself and made a claim directly to them myself.

Thank you!
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Comments

  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    You have a cancellation period. So, do that today or tomorrow and you should be fine.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Aaronsmum
    Aaronsmum Posts: 11 Forumite
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    Dunstonh, I just rang them based on your reply and they have given me a number to call tomorrow as the department isn't open today. I'm very grateful to you. Thank you!
  • amersall
    amersall Posts: 17,005 Forumite
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    Make sure that you get it in writing that you have cancelled.
    Don't take the "word" of whoever you speak to at the claims co.
  • Aaronsmum
    Aaronsmum Posts: 11 Forumite
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    Thank you amersall

    I phoned the number I was given but the lines aren't open til Monday. I therefore sent them a detailed email message explaining I had attempted to cancel via phone twice within 24 hours but wouldn't beable to until 72 hours had passed.

    Is an email from them confirming acceptance of my cancellation enough or would it need to be in letter form?

    Thank you
  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    email is sufficient. Keep it safe.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Aaronsmum wrote: »
    Is an email from them confirming acceptance of my cancellation enough or would it need to be in letter form?
    I wouldn't hold out much hope that they'll admit to receiving the E-mail before Monday (or even at all).

    Get on the 'phone at the earliest opportunity.
  • Aaronsmum
    Aaronsmum Posts: 11 Forumite
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    Will do first thing. Thank you Moneyineptitude.
  • Aaronsmum
    Aaronsmum Posts: 11 Forumite
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    I called them this morning. They won't let me cancel as they say I signed the original letter of authority back in May 23rd and this expires after 6 months. The paperwork I signed was to give them a further six months. I argued I still wished to cancel the extended contract which I signed for but they said the contract would now be a continuum and not a new one.

    Apologies, I thought the original signing was to allow them to investigate if I had any PPI and this latest was to allow them to go ahead. They said if I cancelled it would cost me £80 odd/hr for the time they worked on it.

    Does what they say seem right to anyone reading this?

    If I am bound to allow them to continue then that's fine, damage done, I'll just have to accept it. After all, they have spent time in it.

    If they are telling porky-pies, however, I'd like to press on and still try cancel.

    Thank you!
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    You've signed a legally-binding contract. No point trying to wriggle out of it in October if you did this in May.

    I'd say it was unwise to pay cancellation fees at this point too, there are no guarantees that you will even have a successful PPI complaint.

    One question I have to ask is why are you still waiting for them to complain on your behalf? The complaint process takes around eight weeks, not months...
  • Aaronsmum
    Aaronsmum Posts: 11 Forumite
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    Thank you Moneyineptitude, I wasn't sure of the terms.. thought the original signing was for them to investigate if I had ever paid any PPI and this latest paperwork was to give them permission to act on my behalf to make the claim once it became clear that I had. I hadnt realised I had already done that back in May. I cant complain about them taking their 25% anyway as they have put time into it but it will be annoying if it's a large amount when I could have done it myself. They also confirmed they wouldn't be asking for an upfront fee, which would not be reimbursed in the event of the claim being unsuccessful. I was concerned having read about this.

    Lloyds were apparently finding it difficult to locate my accounts (this going back 1992-2006) hence the delay. Should take the 8 weeks now they have all the details.

    Thanks again, your input has been very helpful.
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