Is this a scam within a scam????

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crazykipper73
crazykipper73 Posts: 4 Newbie
in Reclaim PPI & other insurance
Hi i have just recieved conformation of a succesful claim for mis sold PPI from HSBC which i had lodged with the Claim Guys almost 12 months ago.() I had contacted them as it happens and not the other way round. I had forgotten about it to be honest. The payment is to be over and above the original PPI i made this is due to taxable interest apparently? and The claims Guys have indicated there fee of 30% which i was aware of:o I think a mixture of not knowing about Martins money site and apathy probably made me use a third party. My problem with the letter of confirmation i recieved is that i thought it was no win no fee, however i am being asked to complete two points to recieve payment.
Point 1
complete a form with the bank details i would like the payment from HSBC paying into. ( fair enough)
Point 2
Make a payment to the claim guys for work carried out on my behalf either by phone BACS or credit card.
This appears to me as if a fee will be taken before i actually get my hands on the readies as it were. Seems a bit dubious to me. Has anyone else gone through this process?
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  • roonaldo
    roonaldo Posts: 3,420 Forumite
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    crazykipper73 wrote: »
    My problem with the letter of confirmation i recieved is that i thought it was no win no fee,
    Yes, and you have won, so there is a fee.
    however i am being asked to complete two points to recieve payment.
    Point 1
    complete a form with the bank details i would like the payment from HSBC paying into. ( fair enough)
    This is the acceptance form from HSBC so they can pay the redress to you.
    Point 2
    Make a payment to the claim guys for work carried out on my behalf either by phone BACS or credit card.
    This appears to me as if a fee will be taken before i actually get my hands on the readies as it were. Seems a bit dubious to me. Has anyone else gone through this process?
    Send the acceptance back to HSBC and give this form back to the Claims Guys when you receive the payment.

    Your post title indicating a scam, but the Claims Guys have successully claimed back your PPI with interest and are seeking payment. Nothing you have said suggests a scam.
  • crazykipper73
    crazykipper73 Posts: 4 Newbie
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    Thanks for that. The information i recieved from the claim guys suggests sending them both forms together, no mention of sending form 1 to HSBC direct. By sending both forms to claims direct they could effectivley take payment from me and i would have no direct dealings with the HSBC and just trust that the said amount is put into the account i specified. Does that make sense i would/could be paying Theclaimsguys before i get the money into my account. probably just being paranoid but i could end up out of pocket.
  • r.pearson
    r.pearson Posts: 4 Newbie
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    i am having the same problem with the same company and same bank.
    can you send the acceptance letter to the bank direct then pay the claims guys is their a number to ring the hsbc to get advice
  • jjr197
    jjr197 Posts: 21 Forumite
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    Don't pay them anything until you have your money.
    They haven't succeeded in getting you a refund until you HAVE GOT your refund!

    There are a lot of horror stories about people paying a CMC, and not getting their money for months!

    What payment terms did you sign up to with them?
  • Graham_Dunn
    Graham_Dunn Posts: 3 Newbie
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    I can never understand why people use these firms and then hand over large sums of cash for their work. They do well because many people these days suffer from "form phobia" and hate any kind of paperwork, even though the paperwork isn't always difficult to deal with. As an ex civil servant I made a career out of filling in forms and even in my current job I often do them. Don't be mugs people. Apply for the PPI yourself, it isn't difficult, then use the money you save for a nice holiday!
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    Graham_Dunn wrote: »
    I can never understand why people use these firms and then hand over large sums of cash for their work. They do well because many people these days suffer from "form phobia" and hate any kind of paperwork, even though the paperwork isn't always difficult to deal with. As an ex civil servant I made a career out of filling in forms and even in my current job I often do them. Don't be mugs people. Apply for the PPI yourself, it isn't difficult, then use the money you save for a nice holiday!

    People that were mis-sold PPI are very easy targets (noting the generalisation of such a comment). So, claims companies know that its easy to mis-sell to them.
    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.
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    Sammul wrote: »
    The Claims Guys have successfully found me over £2000 of PPI to date and still have Claims pending, they've found PPI on loans and credit cards that I didn't even know I had. It is annoying that they want their 30% up front but I have never not received the funds so can only recommend them to people.

    Whilst the Claims Guys have an awful reputation, their billing does not include an upfront charge.

    However, they are well known for being aggressive on collection of the charge on upheld complaints but where the money has not made it to the individual yet. If that is the case, then you do not pay them until you get it. They can huff and puff as much as they like but they cannot do anything about it until you have received the money.
    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.
  • Nasqueron
    Nasqueron Posts: 8,827 Forumite
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    Sammul wrote: »
    The Claims Guys have successfully found me over £2000 of PPI to date and still have Claims pending, they've found PPI on loans and credit cards that I didn't even know I had. It is annoying that they want their 30% up front but I have never not received the funds so can only recommend them to people.

    Nothing they did was anything you couldn't have done yourself, they use the same free complaints process you do and have access to the same info you would have yourself
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    I've clicked the Spam button on the post from "Sammul" as it is little more than promotion, not just of claims companies in general, but one in particular.

    It's not even as if this was adding to an current ongoing conversation, this thread from 2011!
  • daveleeds56
    daveleeds56 Posts: 7 Forumite
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    on the bottom of the payment request letter it states: Payment Terms: Immediate Upon Receipt Of Compensation so dont give/pay anything till its in your bank account and cleared
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