riiped off by CAG

smcginty

hiya i am a little confused i am with a debt management company and they contacted us about a loan we had with welcome finance they said that a company called claim advisory group had been in touch and that we may have been sold ppi illegally they said they would forward our details if we agreed and that it was free to apply. Cag rang us and told us they were sending the forms an that i should sign them which i did and sent back we didnt hear anything untl earlier this week when i received a letter from the loan company admitting liability but with no payment of compensation offer attached i then received a call from CAG wo told me that i should have received an offer and that they had for 4436.53 and that i had arrears on my loan for 1539.51 that they would deduct from the compensation and the outstanding amount would be sent to me via bacs transfer of 2897.02 then cag said that they had a fee that i would need to pay when i asked them what it was he said whatever i signed for maybe 38% but i dont remember signing for any fee i am not good at forms though and might well have done but i am sure i only signed for them to investigate for me? if this is right and i have to give them 38% that works out that they will receive 38% of4436.53 which is approx 1800 quid thatleaves us about a 1000 is this legal can they do this and is there any way i can stop it! i would rather get nothing than have sum benefit more from my misfortune than me? please help im so stupid i cant believe i let this happen!

di3004

Hi there & welcome

Unfortunately using a claims company they do charge at the end, by deducting some of your refund for doing the work.

Lots have had problems using them and are misled.
I am sure you will receive some answers here from someone who knows how these companies work, but if you do have any claims to reclaim in the future, remember this website where you can do this all free.

Well done on your success though.:);)

dunstonh

Duplicate thread here: - please use that one so we dont get two threads on the same thing at once (and dont need to repeat ourselves)

https://forums.moneysavingexpert.com/discussion/2776048