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Trust Worthy Claims Companies?
liverpool1988
Posts: 132 Forumite
Hi,
I was shocked to hear that a friend of mine paid over £400 upfront to reclaim back a policy only worth around 2k.
Was just wondering for those who dont feel they can claim back their PPI if there are any companies people can recommend on this site as your input would be great.
Cheers.
I was shocked to hear that a friend of mine paid over £400 upfront to reclaim back a policy only worth around 2k.
Was just wondering for those who dont feel they can claim back their PPI if there are any companies people can recommend on this site as your input would be great.
Cheers.
0
Comments
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Why would somebody not be able to claim back the PPI better than a company.:mad:0
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Trust Worthy Claims Companies
Isnt that an oxymoron?
PPI claims are one of the easiest to do. Why pay someone?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Isnt that an oxymoron?
PPI claims are one of the easiest to do. Why pay someone?
PPI claims ie mis-selling are very simple. Companies are falling over themselves to pay out. That is because there is much more than just the premium and some interest to be had. There are undisclosed commissions plus interest and then possible effects on the loan itself.
these additional things will not be settled by mere template letters. It requires the threat of a solicitor taking the lender to court to force the issue.
Having said all that there are claims companies and there are claims companies. It is very simple to spot the ones to avoid. They ask for money up front.
The good ones, I mean the really good ones dont ask for any money at all. They get the lender to pay all your solicitors fees on top of your claim.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
I would say if you are only after PPI then do it yourself and even if you cannot get it to the FOS cause of jurisdiction issues then although not for definate yet, FOS is trying to make insurers responsible for these complaints so all is not lost yet. Claims companies are OK so long as you really do not have any time print off a template letter and go along to the post office for a recorded delivery receipt and maybe downloading a complaint form from FOS. Most claims companies only do what you can do for yourself. They are not any quicker than FOS as they mostly have to submit them just the same. In fact FOS likes you to do it for yourself.0
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