Experiences Connect - EMC - Endowment Miss-selling Claim

alesupper

Hi All

I received a call this evening from a company called Experiences Connect Ltd (also known as EMC). They are trying to persuade me to let them claim for endowment miss-selling on my behalf which is very tempting I have to admit. They say that they do this on a no win no fee basis and the charge %40.25 on any successful claim. I am always suspicious of companies who ring out of the blue so my questions are:-

1. Has anyone used this company? Can anyone offer some feedback on this company please?

2. Can anyone recommend a reputable company that offers a similar no win no fee service?

Any help or advice would be appreciated. Cheers.

turbobob

They charge 40% of any compensation to send a standard letter on your behalf. Sounds a good deal eh? Also they are unable to get around time bars that have been applied correctly.

alesupper

TEDDYRUKSPIN wrote: »

Erm scam! LOL. Are there still companies jumping on this band wagon? Still?
If you are really unhappy with the endowment and the company you were advised to carry this out. You should contact them directly via a letter.

OK, so it sounds like I can do this myself by sending a letter. The problem is who do I send the letter to? I have two endowments and the original companies have both changed at least once. For example, one of them started as Scottish Amicable but is now Prudential. So do I send my letter to the Pru? Thinking about it the endowment was sold to be by the BBBs so do I write to them rather than the endowment companies?

Could you advise on the contents of the letter or is it simply "Hey, you gave me bad advice about your endoment and I would like some compensation" type of thing?

nw_man

Did you not know you had received bad advice til they called you ?

alesupper

nw_man wrote: »

Did you not know you had received bad advice til they called you ?

Yes I did but I just never got round to putting in a claim unfortunately. This call has kicked my !!!!! into gear but it may be too late for me as the first endowment was taken out in 1988 and the 2nd was 1993

alesupper

alesupper wrote: »

OK, so it sounds like I can do this myself by sending a letter. The problem is who do I send the letter to? I have two endowments and the original companies have both changed at least once. For example, one of them started as Scottish Amicable but is now Prudential. So do I send my letter to the Pru? Thinking about it the endowment was sold to be by the BBBs so do I write to them rather than the endowment companies?

Could you advise on the contents of the letter or is it simply "Hey, you gave me bad advice about your endoment and I would like some compensation" type of thing?

I have since read the advice on this website and also the which? website. I think I will use the which? letter generator.

I still need advice on who to send the letter/s to? The endowment companies or th Bradfor & Bingley who sold me them? Cheers

dunstonh

one of them started as Scottish Amicable but is now Prudential. So do I send my letter to the Pru?

Prudential activated the time bar on their endowments on 9th May 2006. They were one of the last major insurers to do so. So, there is a good chance that you are now time barred.

If you complain, you complain to the firm that sold the endowment. If it was a Scot Am agent, you complain to Pru. If it was a broker or solicitor or accountant you complain to them. That is unless the application was signed before 29th April 1988, in which case its pre-regulation and you cant complain (unless it was sold by an agent of the insurer).

Overall over three quarters of all endowments are either timebarred or unable to complain about.

alesupper

dunstonh wrote: »

Prudential activated the time bar on their endowments on 9th May 2006. They were one of the last major insurers to do so. So, there is a good chance that you are now time barred.

If you complain, you complain to the firm that sold the endowment. If it was a Scot Am agent, you complain to Pru. If it was a broker or solicitor or accountant you complain to them. That is unless the application was signed before 29th April 1988, in which case its pre-regulation and you cant complain (unless it was sold by an agent of the insurer).

Overall over three quarters of all endowments are either timebarred or unable to complain about.

Thanks for your reply dunstonh. I think the chances are that both of my endowments are now time barred but I guess it is still worth a try hey! So to clarify, both my endowments were sold to me by the Bradford & Bingley so I should send my letter to them, is that correct?

EdInvestor

alesupper wrote: »

So to clarify, both my endowments were sold to me by the Bradford & Bingley so I should send my letter to them, is that correct?

I would send the complaint initially to the two providers.They will forward it to B&B if it's not their responsibility.B&B is now owned by Santander, so the admin is likely to be dire.

opinions4u

EdInvestor wrote: »

I would send the complaint initially to the two providers.They will forward it to B&B if it's not their responsibility.B&B is now owned by Santander, so the admin is likely to be dire.

Genuine question: I thought Santander only took on the savings balances and the branches.

Does that mean the part of B&B that sold the endowment will now be part of Northern Rock?