Crs

Janjel

I have just received a phonce call from a company called CRS who were able to tell me that I had a loan ppi missold to me and they could get rest of loan wrote off along with my PPI refunded. they "just needed £299" to be able to do this for me - they even told me to pay it on my credit card so that it could be written off also - has anyone heard of this company. They also said my ppi would be invalid even if I was sick or made redundant as it was mis-sold. I only took out the ppi as it was worded to me that if I lost my job I would not be covered and felt i would not get loan otherwise.

Please help

maxdp

Janjel wrote: »

I have just received a phonce call from a company called CRS who were able to tell me that I had a loan ppi missold to me and they could get rest of loan wrote off along with my PPI refunded. they "just needed £299" to be able to do this for me - they even told me to pay it on my credit card so that it could be written off also - has anyone heard of this company. They also said my ppi would be invalid even if I was sick or made redundant as it was mis-sold. I only took out the ppi as it was worded to me that if I lost my job I would not be covered and felt i would not get loan otherwise.

Please help

Hi there another Claims Management Company. Do not touch them with a barge pole. If you look through these threads you will see loads of people that have been conned by lots of different organisations.

If you have been mis sold then just get help from this site. You will not have to give away any of your claim. It is really easy.

dunstonh

they could get rest of loan wrote off along with my PPI refunded.

You should ask them how many loans they have written off this way.

The answer should be zero as that is the truth. However, if they lie and say around 80% of their claims are then you know they are telling lies.

They also said my ppi would be invalid even if I was sick or made redundant as it was mis-sold.

You should ask them if they are authorised by the FSA as that is venturing into regulated advice. (they wont be)

Basically, you may have some grounds for complaint on the PPI but what you have been told is BS. They make money out of you by taking your £299 up front. Spending it whilst hanging you on for a year or so with false hope and then go insolvent leaving you unable to get your money back whilst the directors have waltzed off with the money.

Stuart_1980

Claims management companies who charge an upfront fee should be given a wide berth, but there are some good claims management companies out there. I think there is a really negative opinion of CM companies on this forum, it is common knowledge that you can do this yourself however some people listen to the terms and it suits them to sacrifice a slice of commission to hand over responsibility and there is nothing wrong with that. They provide a service much like an IFA!

jamesd

Am I correct in thinking that you want this insurance cover? It's unlikely that it would be invalid if it was mis-sold, that's more about selling you the product with false claims or when you were never eligible for the cover in the first place.

Are you self-employed? That's the most likely way the cover might be invalid. If so and if the policy doesn't cover the self-employed you'd make a mis-selling claim yourself saying that you were self-employed and were never eligible for the cover. That takes just one letter, it's easy and doesn't need a payment to a claims company.

The claims company is lying to you but it's possible that you could usefully do something if you don't really want the cover. You don't need them to say it was mis-sold, your description here already describes a mis-sale if you don't want the cover.

If you want unemployment cover you should check current rates. They have been increasing a lot recently and it may well be best to keep this cover.

dunstonh

They provide a service much like an IFA!

Thats insulting. An IFA has to sit at least 12 qualifications and is financially liable for the advice they give for the rest of their life. A claims management company requires no skills or knowledge.

I think there is a really negative opinion of CM companies on this forum

Thats because we have seen so many spams from the company reps, heard all the lies and a number of us here have seen the sort of templates they send in with complaints. Others have fallen victim to the lies that they tell.

Janjel

i think I might try and claim back money myself - I used a company called I Smart to claim back PPI's for credit cards but they proved to not be very good. They have just informed me today that they do not do ppi claims for store cards - funny how it has taken them 2 years to inform me of this - every time i rang they just said they were dealing with it - only i got speaking to a manager today did i fine out they did not - has anyone had any luck claiming ppi for store cards?