Companies that claim the PPI back for you

stephC

Hi,

I've been looking at the process of claiming back PPI on this website, and it is is something I must do! However I'm not sure if I have the metal to go through with it!!

I've been looking at companies that do it for you, in particular, claims for you, which states that it will get ALL the compensation back for you without deduction. I wanna know, what's the catch?!

Has anyone used these kind of companies before and do they do exactly what they state?

Thank you for any help and advice you might have - confused!! :j:j

dunstonh

I've been looking at companies that do it for you, in particular, claims for you, which states that it will get ALL the compensation back for you without deduction. I wanna know, what's the catch?!

If they dont take any money from you then who is paying for them?

Alpine_Star

stephC wrote: »

I've been looking at companies that do it for you, in particular, claims for you, which states that it will get ALL the compensation back for you without deduction.

In short, they don't make barge poles long enough.

Do it yourself. It's really not difficult and in using a CMC you'd only end up doing most of it yourself anyway.

stephC

dunstonh wrote: »

If they dont take any money from you then who is paying for them?

Well it states that they claim from the company?

Cheers

Alpine_Star

stephC wrote: »

Well it states that they claim from the company?

Cheers

They have no basis on which they cam make the company liable for your fee. It's a scam.

dunstonh

stephC wrote: »

Well it states that they claim from the company?

Cheers

As Alpine Star says, the rules do not allow you to claim the costs of using a third party. The FSA confirms that here.

http://www.financial-ombudsman.org.uk/faq/businesses/answers/handle_cases_a9.html

It is against MoJ rules and Law Society rules to cold call people when legal action is a possibility. So, if they are thinking down the legal route then they are breaking rules by contacting you. So, if they are willing to lie to get business from you, then what else are they telling lies about?

di3004

Hello there

I agree with the others here, I would have a go yourself and if successful you get to keep all your refund.
Lots on here have had no end of hassle using claims companies, and some are still waiting 2 years on or even longer due to being passed from pillar to post.

You will find lots of posts on this site.

They only do what is easily done yourself, by completing the reclaiming questionnaire here.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim
And it saves the agro of signing this and signing that which is all time consuming.

jjr197

Hiya

You're right to ask about this!

I'm not as against CMCs as some people on here, but there is always something to pay! As the guys have said, they can't charge the lenders, so they have to charge you! They might get you all of the compensation, but they'll give you a bill afterwards!

Even if you do decide to use a company, and you don't have to, avoid anyone who isn't 110% transparent with how they charge! That applies to companies in any industry.

Jimi