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Reclaiming PPI through a company - who's the best?
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# 1
universitygirl88
Old 05-02-2010, 4:57 PM
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Default Reclaiming PPI through a company - who's the best?

Hi
I am looking to reclaim PPI which I believe was misold to me. I understand that I can write letters to the comapny myself in order to make a claim. However I am very busy and am likely to be in and out of the country for the next few months. Therefore I am happy to pay a company to do it for me. Does anyone know the best company to use for this? Also what do they tend to charge? Your help would be much appreciated!
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# 2
di3004
Old 05-02-2010, 6:48 PM
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Quote:
Originally Posted by universitygirl88 View Post
Hi
I am looking to reclaim PPI which I believe was misold to me. I understand that I can write letters to the comapny myself in order to make a claim. However I am very busy and am likely to be in and out of the country for the next few months. Therefore I am happy to pay a company to do it for me. Does anyone know the best company to use for this? Also what do they tend to charge? Your help would be much appreciated!

Hi there and welcome.

Personally I would not go through any company, I had some messing and withdrawn and with my experience would not go this direction again, others here have been through it as well, so personally if I were you give it a go yourself, all free with help from this site with templates etc, more info on the link below, if you decide to want to do this yourself and require any help, please just ask, its actually quite easy, you only pay for the posting within the post office, and this way you get to keep all your PPI refund if successful - where otherwise you would be charged with claiming through a company.
http://www.moneysavingexpert.com/rec...loan-insurance

Ask for help if required, all the best.
The one and only "Dizzy Di"
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# 3
J i m
Old 05-02-2010, 9:19 PM
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Do it yourself, some companies charge as much as 40%, which is simply a rip off.
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# 4
marshallka
Old 05-02-2010, 9:47 PM
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Originally Posted by J i m View Post
Do it yourself, some companies charge as much as 40%, which is simply a rip off.
Even 15/20% is a rip off.
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# 5
judles1
Old 05-02-2010, 11:32 PM
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Can understand you wanting someone else to deal with it.I have loads of info missing,when your not money minded,letting experienced people deal with it can look like a safer and easier option.I have been plagued by reclaim companies approaches but had never considered I had been mis-sold as we knew we took the cover and agreed to take it.Eventually I gave some info to these firms and they insisted I had a claim.I allowed 1 firm to send a claim pack after they made repeated calls and promises of no hidden costs.25% no win no fee + VAT.Still doubtful,I checked all the small print and found audit fees would apply,amount would be variable depending on ease of audit (could charge what they liked) and this would be charged whether claim was successful or not! NO THANKS.
The next firm that sent a claim pack had no hidden costs but would accept any offer whether you agreed with the amount being fair or not.I started looking into terms of mis-selling on this website and process of making a claim.Some of the discoveries I've made on my policies have shocked the hell out of me because of cover and rip off pricing and all because I trusted the banks suggestions because THEY KNOW WHAT THEIR TAlKING ABOUT. After feeling i've been ripped off royally by the bank,I'll be damned if I'll be ripped off again by a reclaim company.My husband works his nuts off to pay the bills, we've lost enough as it is so why hand over almost half of a successful claim for something that is achievable yourself.The amount I'll eventually be claiming that would be awarded to a reclaim co. is more than I could earn in a fortnight! It does feel daunting and I do feel stupid with questions (experts probably think i'm a moron)
but I'm determined to see it through.If my paperwork had been complete,things would be a lot easier.If you have your records in order,all it will take is a few letters in between waiting periods.If money is no issue..do what suits you best but remember to thoroughly check what chunk of your claim they will take.Do it yourself and the amount you save could pay for your trips out of the country.
Best of Luck!!!!!! 'The money moron'
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# 6
judles1
Old 05-02-2010, 11:37 PM
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Can understand you wanting someone else to deal with it.I have loads of info missing,when your not money minded,letting experienced people deal with it can look like a safer and easier option.I have been plagued by reclaim companies approaches but had never considered I had been mis-sold as we knew we took the cover and agreed to take it.Eventually I gave some info to these firms and they insisted I had a claim.I allowed 1 firm to send a claim pack after they made repeated calls and promises of no hidden costs.25% no win no fee + VAT.Still doubtful,I checked all the small print and found audit fees would apply,amount would be variable depending on ease of audit (could charge what they liked) and this would be charged whether claim was successful or not! NO THANKS.
The next firm that sent a claim pack had no hidden costs but would accept any offer whether you agreed with the amount being fair or not.I started looking into terms of mis-selling on this website and process of making a claim.Some of the discoveries I've made on my policies have shocked the hell out of me because of cover and rip off pricing and all because I trusted the banks suggestions because THEY KNOW WHAT THEIR TAlKING ABOUT. After feeling i've been ripped off royally by the bank,I'll be damned if I'll be ripped off again by a reclaim company.My husband works his nuts off to pay the bills, we've lost enough as it is so why hand over almost half of a successful claim for something that is achievable yourself.The amount I'll eventually be claiming that would be awarded to a reclaim co. is more than I could earn in a fortnight! It does feel daunting and I do feel stupid with questions (experts probably think i'm a moron)
but I'm determined to see it through.If my paperwork had been complete,things would be a lot easier.If you have your records in order,all it will take is a few letters in between waiting periods.If money is no issue..do what suits you best but remember to thoroughly check what chunk of your claim they will take.Do it yourself and the amount you save could pay for your trips out of the country.
Best of Luck!!!!!! 'The money moron'
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# 7
amersall
Old 30-07-2011, 4:59 PM
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So that was £1000 less for you to spend then.

THIS WAS A NICE FREE ADVERT FOR THE CLAIM COMPANY YOU USED.

NICE ONE!.

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# 8
smitchy73
Old 30-07-2011, 7:01 PM
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All you need is the account number, and your reasons for mis-sell, fill in the FOS Consumer Questionnaire, make a copy of it, send it recorded delivery to your bank/building society, you'll probably wait a couple of months before it gets sorted so if you're in and out of the company it won't make much difference.
Some banks even allow you to kick off your complaint over the phone, I believe RBS, HBOS, possibly Barclays as well, others may be able to tell you more.
Don't go to the companies, save yourself a fortune, they can't do it better, or quicker and even if the bank denies your complaint of mis-selling you can go to the FOS.
Won heehaw in 2013, here's to ladyluck for 2014. Thanks to all the comp posters.
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# 9
smitchy73
Old 30-07-2011, 7:03 PM
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Meant to say the best company to use is Money Saving Expert, PPI reclaiming forum team, comprising, the wonderful dynamic Di, the absolutely amazing Amersall, capitalising cappo, there's mysterious marshalka, and many others to share their experience's, and I may put my tuppence worth in, hehe
Won heehaw in 2013, here's to ladyluck for 2014. Thanks to all the comp posters.
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# 10
amersall
Old 30-07-2011, 8:17 PM
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Quote:
Originally Posted by smitchy73 View Post
Meant to say the best company to use is Money Saving Expert, PPI reclaiming forum team, comprising, the wonderful dynamic Di, the absolutely amazing Amersall, capitalising cappo, there's mysterious marshalka, and many others to share their experience's, and I may put my tuppence worth in, hehe
Cheers dears

You do know this thread is from last year dont you
I realised,but i left my comment on from the person praising the claim company

Older and dafter springs to mind you are in good company with me

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# 11
smitchy73
Old 30-07-2011, 8:39 PM
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Quote:
Originally Posted by amersall View Post
Cheers dears

You do know this thread is from last year dont you
I realised,but i left my comment on from the person praising the claim company

Older and dafter springs to mind you are in good company with me
Yep, it's all this hot weather we're having up here in bonnie scotland, it's going to my brains.......completely fried
Won heehaw in 2013, here's to ladyluck for 2014. Thanks to all the comp posters.
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# 12
magpiecottage
Old 31-07-2011, 4:11 PM
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Originally Posted by stephanie489 View Post
You do not need to use a PPI Claim company and you can do it yourself. I just think that using your a claim company you get a better offer of repayment and a more prompt service.
You will get EXACTLY the same offer that you will get if you go direct in almost all cases and EXACTLY the same as you would get if you went to FOS.


Quote:
I had a friend whom has received an offer from the credit card company and she thinks it was an insult so she contacted a law firm to pursue her claim and she eventually got an offer that was almost 3 times of that of what she was originally offered.
And no more than EXACTLY what she would have got if she had gone to FOS but she will have had to pay a fee to the law firm that would not have been incurred by simply filling in the form and posting it to FOS.

You are posting on the wrong forum. You need MoneyWASTINGExpert.com!
I run a consultancy to help Independent Financial Advisers to comply with their rules and resolve complaints. Although I am qualified to, I don't advise consumers for reward.
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# 13
amersall
Old 31-07-2011, 4:16 PM
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Quote:
Originally Posted by stephanie489 View Post
You do not need to use a PPI Claim company and you can do it yourself. I just think that using your a claim company you get a better offer of repayment and a more prompt service. I had a friend whom has received an offer from the credit card company and she thinks it was an insult so she contacted a law firm to pursue her claim and she eventually got an offer that was almost 3 times of that of what she was originally offered.
A claims company get you no more or less than what the redress stated by FOS is,they are no quicker either,they have no more power over banks than you or i do.

People post on here with complaints about companies who have not kept in touch and it has taken some years to get redress,when all it takes in reality in most cases is one letter sent recorded delivery.

People have posted offers on this site made to them by the banks and when one of our maths wizards have checked these,and found them to be incorrect,the banks have offered proper redress,all this for 0%.

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# 14
di3004
Old 31-07-2011, 7:26 PM
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Quote:
Originally Posted by smitchy73 View Post
Meant to say the best company to use is Money Saving Expert, PPI reclaiming forum team, comprising, the wonderful dynamic Di, the absolutely amazing Amersall, capitalising cappo, there's mysterious marshalka, and many others to share their experience's, and I may put my tuppence worth in, hehe

Aww and the very "Smart Smitchy73" of course x
The one and only "Dizzy Di"
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# 15
smitchy73
Old 31-07-2011, 7:47 PM
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Originally Posted by di3004 View Post
Aww and the very "Smart Smitchy73" of course x
Awww shucks Di, thankyou, maybe sometimes smarta**e smitchy might be better,
Won heehaw in 2013, here's to ladyluck for 2014. Thanks to all the comp posters.
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# 16
di3004
Old 31-07-2011, 7:51 PM
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Originally Posted by smitchy73 View Post
Awww shucks Di, thankyou, maybe sometimes smarta**e smitchy might be better,

lol , well if you want to be called that hun x
The one and only "Dizzy Di"
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# 17
smitchy73
Old 31-07-2011, 8:11 PM
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after much deliberation, i've decided just to take the compliment, lol
Won heehaw in 2013, here's to ladyluck for 2014. Thanks to all the comp posters.
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# 18
Mickeyj1107
Old 25-09-2011, 1:27 AM
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Hi,

I am totally new to all of this and also totally new to this forum and i was wondering if i can get a helping hand. Unfortunately i have a few questions i hope i dont come across an idiot.


Basically i want to try and reclaim PPI on a couple of old credit cards and an old loan..........but they are with creditors at the moment because i am now on benefits and i was majorly conned by these companies. The thing is how do i get the relevant information from these loans etc if i have not kept information apart from the creditors details (would the creditors give me the details) Can i also find out from the companies involved like they have case notes or something.

I was also wondering as regards one of my credit cards (sainsburys bank) do i complain to them directly or do i complain to the company that under-writes them (halifax i think)

I was told by a PPI company that because i still have debt with them that they might not be able to do it because of it.....looking at this it might be a blessing in disguise because they look to be con artists. I just want to know how to get the ball rolling.


Oh sorry one more question, if after eons of time i actually get a settlement how do i know if the banks involved have conned me (especially in the case of credit cards because the PPI changes in accordance to how much you have on the card each month) So what i was wondering for example how could i tell if for example i was offered £1000 and i think great thats fantastic but in reality i am owed £2500. I just have no idea my PPI amounts are now i have gone through so much stuff i cant remember all facts and figures.


What information do i need off these companies, is it every single statement i have ever had, or is it just basic information on the account involved.............and my biggest £64,000,000 question is how the heck do i contact these people trying to get this information without them getting suspicious about what i am doing (or do they legally have to give what you ask for) and if i am contacting them, this changing into another conversation about how they can extract more money from me (the forcing the issue of wanting to raise what i am paying them back each month)


Sorry for all the questions, and thanks for all of your time.

Kind regards
Michael.
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# 19
dunstonh
Old 25-09-2011, 3:21 AM
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Quote:
Basically i want to try and reclaim PPI on a couple of old credit cards and an old loan..........but they are with creditors at the moment because i am now on benefits and i was majorly conned by these companies.
This is very important to your scenario as if you complain and your complaint is upheld, they can use the redress payment to go towards debt written off, defaulted or in arrears before giving you anything.

When you use the term creditors, do you mean a third party and not the original lender?

Quote:
I was also wondering as regards one of my credit cards (sainsburys bank) do i complain to them directly or do i complain to the company that under-writes them (halifax i think)
You complain to the company that sold it.

Quote:
Oh sorry one more question, if after eons of time i actually get a settlement how do i know if the banks involved have conned me
In what way do you think you would be conned?

Quote:
and my biggest £64,000,000 question is how the heck do i contact these people trying to get this information without them getting suspicious
You dont need to worry about it.

Quote:
how they can extract more money from me (the forcing the issue of wanting to raise what i am paying them back each month)
They are not. You are effectively asking for information you have disposed of. You do not need it to make a complaint. If you want copies then you pay for them.
I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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# 20
Mickeyj1107
Old 25-09-2011, 3:56 PM
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Originally Posted by dunstonh View Post
This is very important to your scenario as if you complain and your complaint is upheld, they can use the redress payment to go towards debt written off, defaulted or in arrears before giving you anything.

When you use the term creditors, do you mean a third party and not the original lender?

Hi Thanks for your help. As regards the Creditors they are 3rd Party i think (unless they have underlying connections to the company) For instance my loan was with Santander but the creditor is 1st Credit and Lloyds Credit Cards are using Apex Credit Management.

If it goes to a 3rd party creditor do i talk to them about it or do i talk to the loan company they are with. When making a complaint is there a template complaint letter or something and is it best to do it by writing. I ask this because i have noticed that the page listed on here goes to webpages of the complaints department of banks but also gives a postal address.

I really don't mind if the money gets taken off the original debt as long as i get it recouped in some way or form because i am not happy with their services, Especially the credit card companies their attitudes are disgusting..............i NEVER want to ever get a debt again after this in any way shape or form especially credit cards they are evil. I rather save for 20 years than get one again. In Hindsight i would never have touched anything like this with a bargepole.


Thanks for all your help.
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