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  • FIRST POST
    • Former MSE Wendy
    • By Former MSE Wendy 19th Apr 12, 2:19 PM
    • 868Posts
    • 1,782Thanks
    Former MSE Wendy
    Share your stories on PPI Reclaiming claims handlers
    • #1
    • 19th Apr 12, 2:19 PM
    Share your stories on PPI Reclaiming claims handlers 19th Apr 12 at 2:19 PM
    Please let us know about your experiences - good or bad - of using PPI Reclaiming claims management companies.

    How to report your story...

    1. Click reply to enter your views. It's free to post but you do need to register.

    2. Let us know the following:
    • Why you decided to use a claims handler
    • Were you happy with the service
    • How much were you claiming and how much did you get to keep
    • Anything else you want to tell us

    Please do NOT post questions in this thread. Questions can be asked in the PPI reclaiming discussion thread where, although not guaranteed, it is more likely somebody may be able to help you.

    Would you be happy to talk to the press? If you're willing to tell your story to the papers, tv or both please e-mail casestudy@moneysavingexpert.com (sorry but we can't answer questions at this email address) with a daytime phone number and where you live.
Page 12
    • Sandra59
    • By Sandra59 5th Apr 17, 1:41 PM
    • 1 Posts
    • 0 Thanks
    Sandra59
    I am currently using Consumer Refund Service regarding a claim with M and S on a loan and credit card. The process began in January and to date has not been resolved. They advised me on 17 February that they had found PPI on both the loan and card. I completed the questionnaire immediately and returned it to them. It took them nearly 3 weeks to send me the relevant paperwork to sign. I used a company as I had no paperwork or records of either the loan or card, but am now pretty fed up with their service. I asked on 21 March for an update on the progress and was told they had sent all of the paperwork to M and S who had 8 weeks to issue a final response. I have emailed them again to ask for the status of the claim but to date no response! So wish I had seen Martins programme recently before I had embarked on this process!!!
    • Nasqueron
    • By Nasqueron 5th Apr 17, 2:04 PM
    • 4,179 Posts
    • 2,330 Thanks
    Nasqueron
    I used a company as I had no paperwork or records of either the loan or card,
    Originally posted by Sandra59
    Just to clarify this for anyone else who might find this page, CMCs do not have any special powers to find this information, the only methods they have are available to you for free such as searching your credit history or ringing up each bank and asking them
    • dunstonh
    • By dunstonh 5th Apr 17, 2:25 PM
    • 89,502 Posts
    • 54,963 Thanks
    dunstonh
    I completed the questionnaire immediately and returned it to them.
    Thank you for highlighting just how these CMCs get you to do the work. The same questionnaires are available from the FOS or the banks etc and you can post them directly to the banks etc.

    I have emailed them again to ask for the status of the claim but to date no response!
    They wont know because the complaints dept of the lender doesnt keep the CMC informed.
    I am an Independent Financial Adviser (IFA). 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.
    • seapower
    • By seapower 5th Jun 17, 8:00 AM
    • 1 Posts
    • 0 Thanks
    seapower
    My experience (so far)
    I used a Company called "Investor Compensation". Mainly as they appeared to offer a fully online service. I didnt research PPI claims on this site or anywhere else really. A person at work had some success and thought I would try.

    They sent me a form and a "claim pack" and I filled it out just saying "Barclays" I had no account or card numbers (it was VERY speculative)

    I had no contact from them at all but about a month later got a letter from Barclays saying they had found my accounts and were investigating. The next day a cheque arrived (for £4000!)

    Investor Compensation advertise a "claims portal" (assumed its their version of the resolver tool) It doesnt work and no one updates any information on there so is totally useless . A few days later, I get a call from IC telling me "Good News" (about the cheque I had already received) and was basically a call chasing me for payment. I said I would wait for the Bill through the post which eventually turned up and I paid . (£1600 with their 30% fee and Vat!)

    Last week I get ANOTHER Cheque from Barclays - this time for a Credit card (and this time for £5000!) Still havent heard from IC about this...but no doubt the bill will eventually arrive.

    My impression of this company (and I am sure all the others are the same) is that they do very little, are completely disorganised - they take ages to answer the phone and are fairly unprofessional. They have flasy websites which promise a lot but I suspect are just a front for a cold calling operation out of a dingy office. I have heard Barclays are the easiest of Banks to deal with through this process so am kicking myself that instead of having £9000, I will end up with £6500. A big difference for the price of a stamp.

    I have PPI (and evidence through statements ) from other providers and have now used the Resolver tool on this site - lets see what happens!
    • Moneyineptitude
    • By Moneyineptitude 5th Jun 17, 10:42 AM
    • 19,293 Posts
    • 9,399 Thanks
    Moneyineptitude
    I have PPI (and evidence through statements ) from other providers and have now used the Resolver tool on this site - lets see what happens!
    Originally posted by seapower
    Check the legally-binding contract you've signed with the company. It's very likely you've agreed for them to represent you in ALL PPI complaints, not just those to a particular lender.
    • Cloudane
    • By Cloudane 6th Jun 17, 8:52 AM
    • 489 Posts
    • 354 Thanks
    Cloudane
    Will admit I'm using a claims company right now (Taylor Edwards, one of the few times I've ever clicked on a banner ad - their comment about basically any PPI now being considered missold piqued my interest)

    Always said I wouldn't feed into this and would just accept responsibility for being talked into PPI a couple of times, but figured if you can't beat 'em join 'em, I might as well get something out of the number of times I've been harassed by PPI reclaim companies over the years and know that I did have it at one point years ago. I'd never reply to a company that spams text messages or illegally cold calls me (I'm on TPS) but a banner that appeared on I think it was BBC News, seems fair enough to me.

    They do charge a huge fee - 30%+VAT! But end of the day it was convenient and I was never going to get around to it otherwise. They have the legal expertise and mouths to feed too and I'd just never have had the confidence or motivation to try and claim myself, I would've stressed myself out about screwing it up and have only ever put it off. Furthermore the MSE page on this said you need to gather evidence which frankly I don't have - these are ancient accounts I can't find the paperwork for. These guys seem to be able to get the companies to check for the evidence themselves which surprised me as I'd have thought the burden of proof lies with the claimant.

    Anyway I filled in a couple of very short forms mentioning the two companies I think I might have had PPI with. Both came back positive a couple of weeks later, and I've had confirmation that one has been upheld. It's only £65, which after their big slice of the pie is about £42, but hey - it's £42 I would never have had otherwise. Pays for Mario Kart Awaiting a final result from the other claim which I think may be of a higher value (and hence more difficult to squeeze out of them). Call me stupid and gullible but I really don't mind letting someone take a share for doing all the chasing around.
    Last edited by Cloudane; 06-06-2017 at 8:55 AM.
    • zx81
    • By zx81 6th Jun 17, 9:33 AM
    • 13,189 Posts
    • 13,503 Thanks
    zx81
    Call me stupid and gullible but I really don't mind letting someone take a share for doing all the chasing around.
    Originally posted by Cloudane
    They didn't do any chasing though. They just posted the form you filled in.
    • dunstonh
    • By dunstonh 6th Jun 17, 9:57 AM
    • 89,502 Posts
    • 54,963 Thanks
    dunstonh
    their comment about basically any PPI now being considered missold piqued my interest
    It is also a lie if they said that. Whilst some types of PPI have a high uphold rate. Some have under 50% uphold rates.

    They do charge a huge fee - 30%+VAT!
    Especially when you consider how little they do. Just put a stamp on an envelope containing the FOS form or their version of it.

    They have the legal expertise
    No they don't. They are claims companies. Typically employing students or mums working part time on sales type contracts.

    Furthermore the MSE page on this said you need to gather evidence which frankly I don't have
    You dont need evidence unless your complaint is rejected on an unprovable allegation. That is the same whether you use a CMC or DIY.

    These guys seem to be able to get the companies to check for the evidence themselves which surprised me as I'd have thought the burden of proof lies with the claimant.
    Again, they did not. The FCA requirement is for firms to use all available evidence they have.

    Call me stupid and gullible but I really don't mind letting someone take a share for doing all the chasing around.
    As they did no chasing around, I guess we have to call you that
    I am an Independent Financial Adviser (IFA). 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.
    • Moneyineptitude
    • By Moneyineptitude 6th Jun 17, 12:08 PM
    • 19,293 Posts
    • 9,399 Thanks
    Moneyineptitude
    but a banner that appeared on I think it was BBC News, seems fair enough to me.
    Originally posted by Cloudane
    What is this "banner" you speak of? The BBC would never advertise or encourage the use of a claims company..
    it was convenient
    Originally posted by Cloudane
    To fill in the same form that you would have done if you had simply contacted the bank?
    They have the legal expertise
    Originally posted by Cloudane
    They really really don't.
    PPI is not a legal issue anyhow.
    These guys seem to be able to get the companies to check for the evidence themselves which surprised me as I'd have thought the burden of proof lies with the claimant.
    Originally posted by Cloudane
    They have no special powers to collect evidence, nor will the Bank check for "evidence". They will simply have requested the Bank check their records (which you could have done yourself)
    I filled in a couple of very short forms
    Originally posted by Cloudane
    As I said, the SAME forms you would have had to fill in if you had complained alone.
    It's only £65, which after their big slice of the pie is about £42, but hey - it's £42 I would never have had otherwise.
    Originally posted by Cloudane
    Imagine for a few seconds if you had paid more in PPI.
    A £650 award would net you only £420.
    A £6500 award would cost you £2300!
    Doesn't seem quite so palatable does it?
    Awaiting a final result from the other claim which I think may be of a higher value (and hence more difficult to squeeze out of them).
    Originally posted by Cloudane
    The amount in question really is irrelevant to your chances of success.
    • -taff
    • By -taff 6th Jun 17, 7:30 PM
    • 7,344 Posts
    • 4,766 Thanks
    -taff
    They have the legal expertise .
    Originally posted by Cloudane
    No-one needs legal expertise. It's a free complaints process, using one template, or just go to the company's page and complain via the internet.

    (Text removed by MSE Forum Team)
    Last edited by MSE ForumTeam5; 07-06-2017 at 11:24 AM. Reason: Personal abuse
    • Cloudane
    • By Cloudane 15th Jun 17, 5:44 PM
    • 489 Posts
    • 354 Thanks
    Cloudane
    It was MSN News, got mixed up with the BBC there

    Well, what can I say, I didn't have the confidence or the prior knowledge that it was literally as simple as filling in one form and having such a high likelihood of success, and I'm sure the MSE page at the time (which seems to have altered now) said right off the bat, find your statements, gather evidence. If I'd tried myself and failed, would've blamed myself and been more annoyed..

    If you're already familiar with it and how simple it is, I can see how you'd find people like me total idiots (I feel the same way about computer users a lot of the time being more of an expert with those!). Is it really necessary to dogpile me with condescending posts and insults though? I'm not saying other people should do what I did, just that based on my very limited knowledge it seemed worthwhile or at least didn't upset me too much. To be honest, the other claim got about 500 which will obviously be about 300 by the time they've done with it so if it makes you feel good, yay I got ripped off over 200 quid. Serves me right. Happy?

    It is also a lie if they said that. Whilst some types of PPI have a high uphold rate. Some have under 50% uphold rates.
    Originally posted by dunstonh
    You might want to inform whoever writes the MSE page then:
    http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
    5. Now, due to Plevin, even just having PPI means most were mis-sold
    • dunstonh
    • By dunstonh 15th Jun 17, 6:28 PM
    • 89,502 Posts
    • 54,963 Thanks
    dunstonh


    You might want to inform whoever writes the MSE page then:
    http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
    Originally posted by Cloudane
    The MSE guides are often sensationalised or wrong (in the name of simplicity).

    Plevin doesnt mean that they were mis-sold. It is a technical point on some types of PPI (mainly single premium) where the commission was above 50%. As it stands on this forum, we have only seen one credit card outcome from Plevin and it was under 50%. I know, from experience, that MPPI commission was typically between 20-35% on monthly premium.

    Well, what can I say, I didn't have the confidence or the prior knowledge that it was literally as simple as filling in one form and having such a high likelihood of success, and I'm sure the MSE page at the time (which seems to have altered now) said right off the bat, find your statements, gather evidence. If I'd tried myself and failed, would've blamed myself and been more annoyed..
    Again, MSE goes a little over the top here. Many complaints require no evidence if the complaint reason is a solid one. With weaker complaint reasons, evidence may be required to support an allegation.
    I am an Independent Financial Adviser (IFA). 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.
    • Moneyineptitude
    • By Moneyineptitude 15th Jun 17, 6:57 PM
    • 19,293 Posts
    • 9,399 Thanks
    Moneyineptitude
    I didn't have the confidence or the prior knowledge that it was literally as simple as filling in one form and having such a high likelihood of success
    Originally posted by Cloudane
    This is exactly what Claim Companies rely upon. It's also why this forum is so against them. MSE PPI advice pages have not been changed in the last few months and are the same now as when you claimed.
    Is it really necessary to dogpile me with condescending posts and insults though
    Originally posted by Cloudane
    The worst of those insults were deleted long prior to you returning to the thread. Why respond to them only now?
    yay I got ripped off over 200 quid. Serves me right. Happy?
    Originally posted by Cloudane
    I'm "happy" only in the fact that your posts might prevent others from being similarly deprived of money unnecessarily.
    • David1989135
    • By David1989135 27th Aug 17, 3:41 PM
    • 1 Posts
    • 0 Thanks
    David1989135
    If I used a claims company, but they did nothing and failed to get any money back for me, but then I did it all on my own and got some money back would the claims company be entitled to anything?
    • dunstonh
    • By dunstonh 27th Aug 17, 3:57 PM
    • 89,502 Posts
    • 54,963 Thanks
    dunstonh
    If I used a claims company, but they did nothing and failed to get any money back for me, but then I did it all on my own and got some money back would the claims company be entitled to anything?
    Originally posted by David1989135
    No. The regulator has published that the CMC service ends when they give up the complaint and that a re-opened complaint does not entitle the CMC to charge anything against it unless you sign a new contract with them.
    I am an Independent Financial Adviser (IFA). 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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