Reclaiming PPI -Claim what's Yours Online

dawnp_2

Looking to reclaim PPI paid on loans and mortgage....
Has anyone used a third party claim company or "Claim What's Yours Online"?
From what I can see, they contact lenders on your behalf (you pay 10 pounds fee for audit info from your lender) and they do negotiation...
The case will then be prepared by them for assessment by a solicitor. If the solicitor agrees to take on your case they will then pursue your lender for a refund.

"This will not cost you any money as the solicitor works under the Government's Access to Justice system whereby your case will be taken on under a Conditional Fee Agreement which the solicitor will be able to explain in more detail."

Unsure what this jargon means...will they be paid from any refund from loans companies?

As our mortgage PPI is from several years ago, wondering if this is best route to go, i feel I may flounder if have to do it myself? do we stand more of a chance of being successful if a solicitor is working on our behalf?

credithelp

dawnp wrote: »

Looking to reclaim PPI paid on loans and mortgage....
Has anyone used a third party claim company or "Claim What's Yours Online"?
From what I can see, they contact lenders on your behalf (you pay 10 pounds fee for audit info from your lender) and they do negotiation...
The case will then be prepared by them for assessment by a solicitor. If the solicitor agrees to take on your case they will then pursue your lender for a refund.

"This will not cost you any money as the solicitor works under the Government's Access to Justice system whereby your case will be taken on under a Conditional Fee Agreement which the solicitor will be able to explain in more detail."

Unsure what this jargon means...will they be paid from any refund from loans companies?

As our mortgage PPI is from several years ago, wondering if this is best route to go, i feel I may flounder if have to do it myself? do we stand more of a chance of being successful if a solicitor is working on our behalf?

Hi dawnp

Please be careful what you read into this claim. The Access to Justice Act simply sets out a framework within which solicitors can work to take on Legal Aid-style cases. It may truly mean that you are protected from paying your solicitors fees, but in the event of a claim being unsuccessful in court you will still be liable to pay the lender's solicitor's fees and court costs!

I work in the credit compensation business. My employer completely protects clients from paying solicitors fees and court costs, whether the claim is successful, or not. This does not come cheap, or easy, so please do your homework before jumping in.

If you believe that you have a case for PPI reclaim then there also may be the potential to write-off some, or all of the remaining loan. You may be missing a trick by simply chasing the PPI reclaim!

If you simply wanted to reclaim the PPI then you could try it yourself using the template letters provide on the PPI Reclaim thread on this forum. You may not be successful, but then again plenty of others have been.

Have a think about the loan write-off potential and PM me if you want to discuss further.

Best of luck.

petermb_2

credithelp wrote: »

Hi dawnp

Please be careful what you read into this claim. The Access to Justice Act simply sets out a framework within which solicitors can work to take on Legal Aid-style cases. It may truly mean that you are protected from paying your solicitors fees, but in the event of a claim being unsuccessful in court you will still be liable to pay the lender's solicitor's fees and court costs!

I work in the credit compensation business. My employer completely protects clients from paying solicitors fees and court costs, whether the claim is successful, or not. This does not come cheap, or easy, so please do your homework before jumping in.

If you believe that you have a case for PPI reclaim then there also may be the potential to write-off some, or all of the remaining loan. You may be missing a trick by simply chasing the PPI reclaim!

If you simply wanted to reclaim the PPI then you could try it yourself using the template letters provide on the PPI Reclaim thread on this forum. You may not be successful, but then again plenty of others have been.

Have a think about the loan write-off potential and PM me if you want to discuss further.

Best of luck.

I know the scheme being discussed and the site you discuss is merely an introducer to that service. The service is provided on a Conditional Fee Agreement and all costs are levied to your lender should you win. Each case is insured so that should your case be unsuccessful both your solcitors costs and the lenders costs are covered. In other words you pay nothing win or lose.

The only eithical way to run cases in excess of £5000.

credithelp

petermb wrote: »

I know the scheme being discussed and the site you discuss is merely an introducer to that service. The service is provided on a Conditional Fee Agreement and all costs are levied to your lender should you win. Each case is insured so that should your case be unsuccessful both your solcitors costs and the lenders costs are covered. In other words you pay nothing win or lose.

The only eithical way to run cases in excess of £5000.

Hi petermb

You've discovered the fly in the ointment with Access to Justice cases - someone still has to pay for the insurance policy to cover the defendant's legal fees and court costs!

Sure, this can usually be reclaimed if the court finds in favour of the claimant, but otherwise the insurance premium still needs to be paid and my experience of single premium ATE insurance is that it is expensive.

Also, Conditional Fee Agreements still allow for the solicitor to claim a 'success fee', which can sometimes be as much as 100% of their legal fees, so again, it's not necessarily a 'fee-free' service - 'No Win, No Fee' is not the same as 'Win, No Fee', although most people read the former but interpret it as the latter.

There's a good discussion on this topic on the CAB website http://www.citizensadvice.org.uk/index/campaigns/policy_campaign_publications/consultation_responses/cr_legalaffairs/simplifying_conditional_fee_arrangements

dawnp_2

Many thanks for your replies....although still not very clear to me


It appears that a company like this may be the way to go forward with a claim for PPI, however, what happens if this is for an amount not in excess of 5000 pounds?

Also, if we lose the claim.. are we responsible for solicitors and court costs?

I have entered my loan info as required on to Loanchecker on their web site, and I get a message -

"As a result of your completion of the LoanCheck Questionnaire, the oanCheck calculator has ascertained that you have a claim against your lender.

You will of course be aware of the free service we provide having taken the time to complete this questionnaire.

We will be very happy to proceed on your behalf, the next stage being the completion of a comprehensive audit of your documentation, as with every aspect of our service this is of course free to you, it will ultimately be your lender who picks up our bill.


For us to proceed we require from you;

Completion of the SARN form - attached
10 GBP cheque made payable to your lender to enable us to gain your file information under the Data Protection Act
Two forms of ID - utility bills, bank statements etc - Must be within three-months old.

I look forward to hearing from you "

although I think this is probably computer generated for everyone that tries....
I have had a look at CAB link...unfortunately not in easy to understand layman terms!

petermb_2

credithelp wrote: »

Hi petermb

You've discovered the fly in the ointment with Access to Justice cases - someone still has to pay for the insurance policy to cover the defendant's legal fees and court costs!

Sure, this can usually be reclaimed if the court finds in favour of the claimant, but otherwise the insurance premium still needs to be paid and my experience of single premium ATE insurance is that it is expensive.

Also, Conditional Fee Agreements still allow for the solicitor to claim a 'success fee', which can sometimes be as much as 100% of their legal fees, so again, it's not necessarily a 'fee-free' service - 'No Win, No Fee' is not the same as 'Win, No Fee', although most people read the former but interpret it as the latter.

There's a good discussion on this topic on the CAB website http://www.citizensadvice.org.uk/index/campaigns/policy_campaign_publications/consultation_responses/cr_legalaffairs/simplifying_conditional_fee_arrangements

The ATE insurance premium is a fully recoverable disbursement and can be claimed from the other side in the event of a win. The premium is also self funding in that the premiujm itself is insured.

petermb_2

dawnp wrote: »

Many thanks for your replies....although still not very clear to me


It appears that a company like this may be the way to go forward with a claim for PPI, however, what happens if this is for an amount not in excess of 5000 pounds?

Also, if we lose the claim.. are we responsible for solicitors and court costs?

I have entered my loan info as required on to Loanchecker on their web site, and I get a message -

"As a result of your completion of the LoanCheck Questionnaire, the oanCheck calculator has ascertained that you have a claim against your lender.

You will of course be aware of the free service we provide having taken the time to complete this questionnaire.

We will be very happy to proceed on your behalf, the next stage being the completion of a comprehensive audit of your documentation, as with every aspect of our service this is of course free to you, it will ultimately be your lender who picks up our bill.


For us to proceed we require from you;

Completion of the SARN form - attached
10 GBP cheque made payable to your lender to enable us to gain your file information under the Data Protection Act
Two forms of ID - utility bills, bank statements etc - Must be within three-months old.

I look forward to hearing from you "

although I think this is probably computer generated for everyone that tries....
I have had a look at CAB link...unfortunately not in easy to understand layman terms!

As the company in question is not charging you fees there is no incentive to tell you you have a claim when you dont.

Sadly the law only allows cases to be fully funded and insured if they are in excess of £5000. I am sure there will be a challenge to this amount at some point as there was in the Personal Injury market.

The fact that CAB recommends this particular scheme should tell you everything.

credithelp

petermb wrote: »

The ATE insurance premium is a fully recoverable disbursement and can be claimed from the other side in the event of a win. The premium is also self funding in that the premiujm itself is insured.

As you say..."in the event of a win."

Not all cases win, leaving the claimant with a cost to bear.

dawnp_2

thanks for your replies, however I seem to be even more confused now...
one poster says yes ok to use this company, (especially as CAB recommends), other poster says I may be liable for costs if PPI claim is rejected (which obviously I don't want to be liable)

petermb_2

dawnp wrote: »

thanks for your replies, however I seem to be even more confused now...
one poster says yes ok to use this company, (especially as CAB recommends), other poster says I may be liable for costs if PPI claim is rejected (which obviously I don't want to be liable)

You will not be liable for costs as each case is insured. You pay nothing win or lose.
This particular service is the only comany that offers a fully funded and insured service.
All other companies that I know of will charge a fee somewhere in the process.

dawnp_2

petermb wrote: »

You will not be liable for costs as each case is insured. You pay nothing win or lose.
This particular service is the only comany that offers a fully funded and insured service.
All other companies that I know of will charge a fee somewhere in the process.

Peter, thanks for your advice...seems a whole lot clearer now