Secret Commissions?

Hucks77

Cheers Peter.
So CAT standard blown out of the water too! :eek:

sophiak

The last post I had on this subject was over a month ago and I have been reading with great interest everyone's comments and remarks, some I must say quite amusing.

PeteJones

I wonder how long it will take before claims are being made against the :mad: ambulance chasers?:mad:

They are not doing it for nothing are they?

Some posts by 'claims experts:rolleyes: ' seem to give the belief that they are some kind of modern day Robin Hood's, however I was always taught to "pay back what you borrow, or don't borrow it in the first place". I am not aware of being told by my parents to "pay back what you borrow, or if the lender didn't stand on his left foot and hand the cash over with his right hand then make a claim not to pay him back at all".


We are, as a nation, becoming more and more influenced by America by the day. The claims culture that we are entering into has no way back.

Specifically in the finance market we are losing the ability for choice as brokers decide it is no longer worth carrying on. The owner of Magic Loans (who went bump a week or so ago) put it quite plainly when he said "Even if we had been able to make any money we would have had to pay it all to ambulance chasers"

Tell me how is it fair that if I take an insurance product with my loan to protect the payments one day, the next day I am persuaded by a claims company to dispute whather I should have been sold the product and complain and claim compensation despite me having the cover that I signed for in the first place?

If I take the compaint to the Financial Ombudsman, the company I am claiming against has to pay the Ombudsman nearly £500, even if he finds in their favour?

Claims management parasites are in it for their own financial gain, not to look after unsuspecting members of the public. By goading people to make claims, they are pushing up the costs associated with arranging finance, and therefore pushing up the APR that people are being charged.

I am starting a new company, "claim-against-the-claimers.co.uk". We are going to chase the ambulance chasers and point out that they didn't mention that I could do my own claiming and not have to pay them for doing nothing. Anyone out there want to use my business?

petermb_2

PeteJones wrote: »

I wonder how long it will take before claims are being made against the :mad: ambulance chasers?:mad:

They are not doing it for nothing are they?

Some posts by 'claims experts:rolleyes: ' seem to give the belief that they are some kind of modern day Robin Hood's, however I was always taught to "pay back what you borrow, or don't borrow it in the first place". I am not aware of being told by my parents to "pay back what you borrow, or if the lender didn't stand on his left foot and hand the cash over with his right hand then make a claim not to pay him back at all".


We are, as a nation, becoming more and more influenced by America by the day. The claims culture that we are entering into has no way back.

Specifically in the finance market we are losing the ability for choice as brokers decide it is no longer worth carrying on. The owner of Magic Loans (who went bump a week or so ago) put it quite plainly when he said "Even if we had been able to make any money we would have had to pay it all to ambulance chasers"

Tell me how is it fair that if I take an insurance product with my loan to protect the payments one day, the next day I am persuaded by a claims company to dispute whather I should have been sold the product and complain and claim compensation despite me having the cover that I signed for in the first place?

If I take the compaint to the Financial Ombudsman, the company I am claiming against has to pay the Ombudsman nearly £500, even if he finds in their favour?

Claims management parasites are in it for their own financial gain, not to look after unsuspecting members of the public. By goading people to make claims, they are pushing up the costs associated with arranging finance, and therefore pushing up the APR that people are being charged.

I am starting a new company, "claim-against-the-claimers.co.uk". We are going to chase the ambulance chasers and point out that they didn't mention that I could do my own claiming and not have to pay them for doing nothing. Anyone out there want to use my business?

There are plenty of them to have a go at so could be profitable. I would beware though, as the lenders from what I hear will be in competition to you.

I hear they have already decided that some of the issues that are being thrown at them cannot be defended so the best defence is attack. It appears they will be chasing after the claims companies that are breaking the rules and breaching law society regulations to overcome the vast majority of those companies that pose a threat.

For information Ambulance chasers are those that seek to make claims after accidents and the like.

What the institutions have done is systematically ripped off the British public.
I forget the exact quote from an MP but he stated that "Of all the muggings and break-ins and acts of robbery you are more likely to be turned over by the institutions. The difference is that a mugging or robbery will occur once, where the institutions repeat it month after month after month".

Left to you and your like, they will continue to do it.

BlueAngelCV

PeteJones wrote: »

I wonder how long it will take before claims are being made against the :mad: ambulance chasers?:mad:

They are not doing it for nothing are they?

In a very similar situation where the "ambulance chaser" set the Client up with insurance they have to disclose any agreenent they have with the Insurer, be it referals or a referal fee. If they do not then the agreement is unenforceable and they will not get paid.

The reason for this is that (as someone indicated earlier in the thread) they may not be getting the best deal for the Client if they are thinking about being paid.

I don't know the rules for this situation but would be interested to find out. It seems to me that brokers should be impartial otherwise there is very little point in them.

AverageJoe_4

I do not understand why if these professional know the rules, why do they not stick to them? No one can be blamed but themselves if they are found out after the event.

Example - I know what time to arrive for work, so I get there for that time.
If I am late, it's not because I claim I was "unaware of my start time"...

petermb_2

AverageJoe wrote: »

I do not understand why if these professional know the rules, why do they not stick to them? No one can be blamed but themselves if they are found out after the event.

Example - I know what time to arrive for work, so I get there for that time.
If I am late, it's not because I claim I was "unaware of my start time"...

Ah they call themselves professionals. They are no different to the boys who acted as brokers and did exactly the same. Charging huge fees and not telling the client they were getting equally large commissions on top.

sophiak

When anyone enters in to a contract especially when it is do with money then both sides should be honest. Brokers who receive back handers and secret commissions are not being honest especially to the borrowers, because at the end of the day the borrowers have pay off these commissions because they are more than likely added in the loans they have taken out.
Anyone defending these actions of these backhanders are either one themselves or really really sad. We have to foot the bill in the end, so why not be upfront and honest in the beginning then maybe this country would not be in the state that it is in today. If all parties are honest at the start then there would be no need to point the finger at anyone,

petermb_2

sophiak wrote: »

When anyone enters in to a contract especially when it is do with money then both sides should be honest. Brokers who receive back handers and secret commissions are not being honest especially to the borrowers, because at the end of the day the borrowers have pay off these commissions because they are more than likely added in the loans they have taken out.
Anyone defending these actions of these backhanders are either one themselves or really really sad. We have to foot the bill in the end, so why not be upfront and honest in the beginning then maybe this country would not be in the state that it is in today. If all parties are honest at the start then there would be no need to point the finger at anyone,

I agree entirely. I do not blame the brokers so much. Most of the time they were not aware of the implications of their actions. However the institutions knew but actually kept it to themselves and attempted to cover their backs hoping the brokers would carry the can..

sophiak

Very well said petermb, I agree with you on that.