Ppi

Bexstar28

Can someone help
I went thro a comapny to help get my PPI's back from two loan companies, 1 came back no problem and i paid the company the admin fees which i thought were very good
the 2nd claim went thro, but the company who got it back for me are now charging me more than my compensation because they halved my loan, but when i have read the terms & cond it doesnt state anything like that they could do that...do i have to pay them??

Many thanks

di3004

Bexstar28 wrote: »

Can someone help
I went thro a comapny to help get my PPI's back from two loan companies, 1 came back no problem and i paid the company the admin fees which i thought were very good
the 2nd claim went thro, but the company who got it back for me are now charging me more than my compensation because they halved my loan, but when i have read the terms & cond it doesnt state anything like that they could do that...do i have to pay them??

Many thanks

Hi there & welcome

Sorry to hear that.

And I would not touch any of them with a barge pole, lots on here have had no end of hassle by using claims companies and regret not having a go themselves, but please do you think you can write the name of that actual company, this will also be a help to others, thank you.

I am not sure of their procedures but hopefully someone will be able to help and give advice on this for you, have you checked them out with the Ministry of justice (MOJ)? maybe they would know the answers on this for you.......
Give them a call if you can.
http://www.justice.gov.uk/contactus.htm

Please let us know how you get on, cheers.;)

dunstonh

the 2nd claim went thro, but the company who got it back for me are now charging me more than my compensation because they halved my loan, but when i have read the terms & cond it doesnt state anything like that they could do that...do i have to pay them??

If the contract you agreed allows them to have that money then you have to pay them.

It is not uncommon for people to have to pay the claims company despite not actually receiving the money directly (i.e. paid to reduce loan/debt). It's a risk of using a claims company.

Bexstar28

It stated on the doc that they would take 25% plus VAT which was the same as the other, but then looking at it they have charged me extra cos they halved my loan, i went to CAB and she could not make head or tails or the letter, she agreed with me that the figures where wrong and that you could not understand them....i just think they are cheating me

dunstonh

What was the full amount of the redress payment (that would include any deduction in the loan value which would be considered redress)?

Normally, the contracts are written that you pay x% of the full amount of the redress or any write off or reduction.