Endowment Compensation Win......what if...

Metalfan71

I recently won over £4,400 from Scottish Widows in mis-selling me a policy in 1991.

This was down to help from an advisory company on the 'no win no fee' basis.

They have requested a payment of £1840 from me.

Does anyone know what the likely outcome would be if i refuse to pay this or has anybody else refused to pay ?

Thanks.

happybroker

I guess you entered into some sort of contract with these people and, regardless of what we think of those sorts of firms, if you did you will need to pay them or face court action.

Metalfan71

happybroker wrote: »

I guess you entered into some sort of contract with these people and, regardless of what we think of those sorts of firms, if you did you will need to pay them or face court action.

Yep i did enter into a contract with them, this was approx 3 years ago and has only recently been resolved. I never thought back then that it would be successful and didn't realise how much cut they would want.

Quiet_Life

On the bright side you are £2,560 better off, as you didn't think it would be successful think of it as a windfall

Caz3121

Metalfan71 wrote: »

I never thought back then that it would be successful

Maybe the best way to look at it then as you are £2560 up :j



beaten to it!!!

Thrugelmir

Metalfan71 wrote: »

This was down to help from an advisory company on the 'no win no fee' basis.

What's on the tin is what's inside. They are a business not a charity. They won so they collect their fee.

Once_bitten

The worst thing that could happen is 'Knuckles' from collection would come knockin' at your door

VIGILANT22

Metalfan71

If you dont want to pay, just send the cheque back....easily resolved..............

RobertoMoir

Metalfan71 wrote: »

Yep i did enter into a contract with them, this was approx 3 years ago and has only recently been resolved. I never thought back then that it would be successful and didn't realise how much cut they would want.

Do you sign many deals / contracts without understanding them? If so, you probably should stop. Or are you claiming that they've pulled a fast one on you?

dunstonh

As much as i dislike many claims companies for the way they work, if you agree to use one and they are successful then you should pay them what you agreed.

The subject is pointless though as claims companies without fail will take you to court if you refuse to pay and the contracts they have will see them win and in the process you destroy your ability to get credit. Which may not be a bad thing in this case as you dont appear to understand contracts and want to break them.