Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • amanda7532
    • By amanda7532 11th Mar 17, 12:21 PM
    • 1Posts
    • 0Thanks
    amanda7532
    PPI Company rights
    • #1
    • 11th Mar 17, 12:21 PM
    PPI Company rights 11th Mar 17 at 12:21 PM
    Hi,
    I claimed PPI through a company back in 2013 and at the time the Clydesdale Bank refused any PPI but I got a letter yesterday directly from the bank offering me a fair bit of PPI compensation. I did not contact them.
    Can the PPI company that put the original claim in take a cut of this money even though it is 3 and 1/2 years later...?
Page 1
    • McKneff
    • By McKneff 11th Mar 17, 12:27 PM
    • 35,226 Posts
    • 45,355 Thanks
    McKneff
    • #2
    • 11th Mar 17, 12:27 PM
    • #2
    • 11th Mar 17, 12:27 PM
    You need to check the terms and conditions you signed.
    I thinks its likely to be honest.
    Did the bank say why ?
    No one can make you feel inferior without your consent
    • dunstonh
    • By dunstonh 11th Mar 17, 2:10 PM
    • 87,252 Posts
    • 52,401 Thanks
    dunstonh
    • #3
    • 11th Mar 17, 2:10 PM
    • #3
    • 11th Mar 17, 2:10 PM
    Can the PPI company that put the original claim in take a cut of this money even though it is 3 and 1/2 years later...?
    No. If the bank volunteers to reopen a previously rejected complaint then the CMC cannot bill you against it unless it was through the actions of the CMC that got it reopened (and it never is but some CMCs are crafty and get people to sign another agreement a couple of years later).

    If the CMC attempts to get money they are in breach of their regulatory guidelines. This scenario is exactly given in their rules.
    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.
    • Nasqueron
    • By Nasqueron 11th Mar 17, 2:38 PM
    • 4,160 Posts
    • 2,295 Thanks
    Nasqueron
    • #4
    • 11th Mar 17, 2:38 PM
    • #4
    • 11th Mar 17, 2:38 PM
    You need to check the terms and conditions you signed.
    I thinks its likely to be honest.
    Did the bank say why ?
    Originally posted by McKneff
    Clydesdale were given a kicking by the regulator for their miss-handling of PPI complaints including staff deleting references to PPI before sending copies of data out or not bothering to look for old records and saying they had, fair chance they have simply reviewed the cases from the period and realised their mistake.

    I'd assume the claims company will demand a cut as they raised the case, I'd keep the money in savings and not tell them and await a demand for payment.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,180Posts Today

9,442Users online

Martin's Twitter