PPI advanced charges.

tomdan_2

Hi,
Today i rang back a company who said i was entitled to a large refund on mi-sold PPI using a no win o fee. But in order for them to start my claim they asked for a large payment upfront. Is this standard practice? do all firms ask the same? When i refused, he rang back later offering to buy the calim off of me. Is this standard practice?

marshallka

Never ever pay an upfront fee for claiming back PPI. You can mostly do this yourself and it would cost you nothing except a few pence postage. From being on this site for some time now we know that claims companies that charge you upfront mostly do NOTHING once they receive your money and you have little chance of getting anything back from them even after complaining to the MOJ who regulates these companies. Take a look at Cartel Client Review for instance, one of the biggest upfront fee firms. Loads of people have lost money this way and still have not had their files looked at and never will. They are mostly rip offs.



If you have any questions on how to claim back missold PPI then feel free to ask away. There are lots on here that would be willing to help for free.

tomdan_2

Marshallka,
Thanks for that. Didn't think it was the correct way to go about things. In fact i rang another company who said that they do not take an upfront fee and even take less of cut of the final amount. Still not sure how to proceed, not made my mind up yet.

Many thanks again,
Tomdan :j

tomdan_2

How easy isit to claim yourself?

tomdan

di3004

tomdan wrote: »

How easy isit to claim yourself?

tomdan

Hi Tomdan

I agree with Marshallka, you can have a go yourself and its all free this way, with help from this site.

Its pretty straight forward really.

Just complete the FOS questionnaire, on this site, these are in replacement of the first template letter, you will find this on the link added below, further down the page as Stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


Complete and send to whoever was responsible for setting up your policy.

Keep a copy as recommended by the financial ombudsman service (FOS), in case you need to refer to this later on.

They have 8 weeks in full to respond, sometimes they will send a letter to ask for more time, this is ok, and sometimes they ask for more information from you, and in the final letter they should if eligible enclose details of the Financial ombudsman service (FOS) with a leaflet on how to complain to these if your not happy with the final decision.
The FOS are also a free service, but you always have to approach the bank/business first.

Hope this helps, good luck and ask for more help if required.

Make sure if you can as well, to get proof for posting at your post office.;)

MRS_A_3

The form looks a bit daunting at first but once you actually get writing it's not too bad and there are good suggestions for what to put if you're not sure.