PPI nerves!

Pimpernel665

I have been recieving email updates on a regular basis from moneysavingexpert and have meandered over Martin's excellent site for months now, but it has been a call from a PPI reclaiming company that has prompted me to join the forum today.
I have previously gone bankrupt as a direct result of not being able to claim 'payment holidays' even though I paid for the protection through an Egg Loan and Credit card. I also had a TSB cc which was the same story.
The company touting for business today seemed extremely keen to put my case forward and said they would do it on a no win no fee basis. They would take 33% of the final amount claimed and charge £150 for admin.
I have since read Martin recommends no higher a fee than 25% from these companies. I have a very busy job and am not as good with my finances as I could be so I am a bit apprehensive to take this on myself.
It looks straightforward and I do qualify (missold as I was self employed which I told them about) But is it really that easy?
The company said I was looking at £1k for the egg card but the loan was at least five times as much so I know it's worth doing..
I have read the success stories and logic says it will work but should I go it alone so to speak?

di3004

Pimpernel665 wrote: »

I have been recieving email updates on a regular basis from moneysavingexpert and have meandered over Martin's excellent site for months now, but it has been a call from a PPI reclaiming company that has prompted me to join the forum today.
I have previously gone bankrupt as a direct result of not being able to claim 'payment holidays' even though I paid for the protection through an Egg Loan and Credit card. I also had a TSB cc which was the same story.
The company touting for business today seemed extremely keen to put my case forward and said they would do it on a no win no fee basis. They would take 33% of the final amount claimed and charge £150 for admin.
I have since read Martin recommends no higher a fee than 25% from these companies. I have a very busy job and am not as good with my finances as I could be so I am a bit apprehensive to take this on myself.
It looks straightforward and I do qualify (missold as I was self employed which I told them about) But is it really that easy?
The company said I was looking at £1k for the egg card but the loan was at least five times as much so I know it's worth doing..
I have read the success stories and logic says it will work but should I go it alone so to speak?

Hi and welcome

Personally I would give it a go yourself, it is very easy to be honest, and you only pay for the posting within the post office to receive your proof of posting (recommended to post this way).

If you require any help, we can help you step by step and its all free.
You can use the templates on here or as a guide with the reasons you have for being mis sold (if you believe you have been mis sold the PPI), and they have 8 weeks in full to respond.
Remember these claims companies takes so much percentage of your refund, but this way by having a go yourself it will be all yours if successful, of course if you check the threads on these claims companies, no end are having problems.
They all seem to sound good at the time, but I would not trust going that direction if I were you.

For more on reclaiming, Martin's guidelines with useful info here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Check this out, you will find its pretty straight forward, and keep at them, if they do not resolve in your favour by 8 weeks, then you can always move this on to the Financial ombudsman service (FOS) who are also free.

Please ask for help if required and good luck.;)

~Brock~

Were the loans you intend to reclaim PPI premiums on included in your bankruptcy?

Pimpernel665

Thanks Di3004, that's really helpful of you. Yes I will do it myself (with the help of this site) because I am starting to see it's all about the case, not who's fighting it for you!

Pimpernel665

Hi Brock, the loan and two cards were included. I have never pursued this before as I thought bankruptcy cleared everything and that was that. The company I spoke to today said it didn't make a difference and that in fact ex-bankrupt and bankrupt go through a claim faster.
Of course, I haven't a clue about that.

di3004

Pimpernel665 wrote: »

Thanks Di3004, that's really helpful of you. Yes I will do it myself (with the help of this site) because I am starting to see it's all about the case, not who's fighting it for you!

Exactly and good for you, good luck with this and post up for any help anytime.;)