reclaim broker fees

fransic

recieved a phone call from a company called mdc solutions, they said we were entitled to£2500 refund of broker fees from picture finance for a loan taken out in 2006, they said for 59.99 they would process this for us ,stating that a court ruling had said that they had been overcharging broker fees. any one else had this sort of call, any help would be appreciated thanks

dunstonh

they said we were entitled to£2500 refund of broker fees from picture finance for a loan taken out in 2006

If you were entitled to it, then you would have got it. You wouldnt need a cold calling ambulance chaser to tell you.

they would process this for us ,stating that a court ruling had said that they had been overcharging broker fees.

There has only been one successful court case on this front and that was where an independent broker took commission and a fee and failed to disclose the amount of the commission. In that case the court ruled that the commission had to be refunded. The refund was about £240.
If the commission had been disclosed then there would have been no refund as brokers are allowed to charge fees. (Wilson & Another v Hurstanger Ltd)

There was also the recent case of Southern Pacific Securities 05-2 plc (in substitution for Southern Pacific Personal Loans Limited) (Respondent) –v- Walker and another (Appellants) [2010] UKSC 32. That also found in favour of the lenders regarding broker fees being added to the debt. http://news.roslingking.com/?p=437

Ask them the court case they are referring to. You can then look it up and see if the case matches your scenario.

So, basically, this company are trying it on to get your £60. Easy money as there are plenty of mugs out there who will pay it. 20 calls a night, 5 sign up and you earn £300 a night.

fransic

thats what i thought, just needed some help convincing my wife