endowment claim company help needed

caz_sheff

We have had a cold call by a company called £mcas offering to claim against our possibly mis sold endowments. Has anyone used this company? are they genuine? Does anyone know about this company as a little concerned. Any info greatly appreciated.

Annisele

I'm guessing there's a typo in there, but I've never heard of £mcas. Do you mean EMC?

In any case, none of the endowment claim companies do anything that you can't do yourself. (Just like painters and decorators don't do anything you can't do yourself - the choice is whether you want to spend your own time and effort, or pay the tradesman's price. When it comes to claiming for mis-sold endowments, in general all the claims companies do is send standard letters and have knowledge of the process - and you can get all that from the internet.)

If your endowment was mis-sold, then you can complain to the selling agent yourself, and then refer it to the Financial Ombudsman Service yourself if you feel you need to - and then you won't lose 30% or so of any compensation you might be entitled to.

The majority of endowment complaints are now time-barred - but by no means all of them. Have you had reprojection letters from the product provider giving you a date by which any complaint you make must be made?

caz_sheff

I am not sure how we would start this process by ourselves. I did contact the endowment company who said the broker who sold to us is now no longer in business so we could not claim. We had decided we couldn't do anything about it. Our first policy matured last month and this company state they can still cllaim for the shortfall on that one.
This company do have a quite impressive website and they have given us time to research them before we use them.
I hoped someone on the forum may have at least heard of them.

caz_sheff

Have had another look at website and the directors of the company come up with EMC so it is the same company. Do you know about any feedback on them - thanks

Annisele

There's a thread about EMC here. I'm not a fan, but IMO they're not awful as claims management companies go.

Who was the broker who sold the policy, was it sold before or after August 1988, and is the broker listed as 'in default' on the FSCS's website here? If there's nobody to claim from, then EMC can't do anything - they can't get money out of a firm that doesn't exist.