PPI and Refresh My Credit (RMC)

philpye

Hi
I was approached by a company RMC (Refresh My Credit) about claiming a mis-sold PPI when I remortgaged about 5 years ago. They already had some details about the PPI but said they could help to reclaim on a No Win No Fee basis and I have received forms to be signed by me and my wife and returned to them. On the form that thye have already filled in they have requested that any cheques due shall be paid to Refresh My Credit first. I understand that they will take a 25% fee but I'm a little suspicious that any money due to me will never be seen as they ahve filled in the form indicating that it will be paid to them first. Does this sound right? Has anyone had any successful dealings with this company? I have checked the CRM number at the bottom of their letters, on the Ministry of Justice website and they are authorised. It all seems too simple, for us just to sign the forms. Any advice would be appreciated. By the way, they have not asked for any money up front.
Thanks
Phil

di3004

philpye wrote: »

Hi
I was approached by a company RMC (Refresh My Credit) about claiming a mis-sold PPI when I remortgaged about 5 years ago. They already had some details about the PPI but said they could help to reclaim on a No Win No Fee basis and I have received forms to be signed by me and my wife and returned to them. On the form that thye have already filled in they have requested that any cheques due shall be paid to Refresh My Credit first. I understand that they will take a 25% fee but I'm a little suspicious that any money due to me will never be seen as they ahve filled in the form indicating that it will be paid to them first. Does this sound right? Has anyone had any successful dealings with this company? I have checked the CRM number at the bottom of their letters, on the Ministry of Justice website and they are authorised. It all seems too simple, for us just to sign the forms. Any advice would be appreciated. By the way, they have not asked for any money up front.
Thanks
Phil

Hi Phil

I don't actually know how CMC's work to be honest but am sure someone will get back to you either later or maybe tomorrow with some answers, good luck.

dunstonh

They already had some details about the PPI

That information isnt in the public domain. So, if they really have details about you then they have come by them fraudulently and in breach of data protection. However, many of the cold calling claims companies pretend they have information about you to make it sound more official.

I understand that they will take a 25% fee but I'm a little suspicious that any money due to me will never be seen as they ahve filled in the form indicating that it will be paid to them first. Does this sound right?

Many claims companies have gone under and taken money with them. So, it is a risk. Plus, its 25% plus 20% VAT. Their service is vatable.

I have checked the CRM number at the bottom of their letters, on the Ministry of Justice website and they are authorised.

That hasnt counted for much though. You could be authorised by the MoJ within a few weeks if you really wanted to.

I was approached by a company RMC (Refresh My Credit) about claiming a mis-sold PPI when I remortgaged about 5 years ago.

Were you mis-sold?

MPPI is pretty easy to see if you were or you were not. Single premium is nearly always classed as mis-sale as it should be set up monthly. The other main area is lack of eligibility at point of sale. Financial need is sometimes argued by some but it rarely works as you wouldnt be taking out a mortgage if you had the money (i have seen some template letters sent in by some claims companies and that is one of the things you often see listed and it just makes you laugh).

Given how easy it is to see if you were mis-sold or not when it comes to MPPI, why do you think you were mis-sold and why do you need to use a company that probably has less success than you doing a personalised complaint?

Irwin

I was also contacted by RMC just before xmas and have really done me a favour even though I am not using them.

The FSCS are dealing with my claim against the broker Mortgage Advice Services Limited (now Keater Limited) who went into Liquidation last year for selling me and my wife Single Premium MPPI in 2007. They said that they had been passed our infomation following the liquidation of Commitments Protection who provided the insurance as they were well aware that we had been sold Single Premium MPPI.

So this had led me to make my own enquiries (this site has been a great help) and make the claim myself through the FSCS who are now just waiting for my mortgage company to confirm the re-mortage balance when we took it out and then it can be assessed and all being well paid out. Even the new owner of Commitments Protection has confirmed all the details to the FSCS within 3 days.

So thank you RMC for bringing this to my attention, sadly if we are successful you wont be having a penny of my money!

I wish other people would avoid the Claims companies as the whole process has taken no more than 2 hours of my time to get this going.

amersall

Irwin wrote: »

I was also contacted by RMC just before xmas and have really done me a favour even though I am not using them.

The FSCS are dealing with my claim against the broker Mortgage Advice Services Limited (now Keater Limited) who went into Liquidation last year for selling me and my wife Single Premium MPPI in 2007. They said that they had been passed our infomation following the liquidation of Commitments Protection who provided the insurance as they were well aware that we had been sold Single Premium MPPI.

So this had led me to make my own enquiries (this site has been a great help) and make the claim myself through the FSCS who are now just waiting for my mortgage company to confirm the re-mortage balance when we took it out and then it can be assessed and all being well paid out. Even the new owner of Commitments Protection has confirmed all the details to the FSCS within 3 days.

So thank you RMC for bringing this to my attention, sadly if we are successful you wont be having a penny of my money!

I wish other people would avoid the Claims companies as the whole process has taken no more than 2 hours of my time to get this going.

Good for you :D:D:D

di3004

Irwin wrote: »

I was also contacted by RMC just before xmas and have really done me a favour even though I am not using them.

The FSCS are dealing with my claim against the broker Mortgage Advice Services Limited (now Keater Limited) who went into Liquidation last year for selling me and my wife Single Premium MPPI in 2007. They said that they had been passed our infomation following the liquidation of Commitments Protection who provided the insurance as they were well aware that we had been sold Single Premium MPPI.

So this had led me to make my own enquiries (this site has been a great help) and make the claim myself through the FSCS who are now just waiting for my mortgage company to confirm the re-mortage balance when we took it out and then it can be assessed and all being well paid out. Even the new owner of Commitments Protection has confirmed all the details to the FSCS within 3 days.

So thank you RMC for bringing this to my attention, sadly if we are successful you wont be having a penny of my money!

I wish other people would avoid the Claims companies as the whole process has taken no more than 2 hours of my time to get this going.

I agree, good on you too and the best of luck.:T;)

helstac

Irwin wrote: »

I was also contacted by RMC just before xmas and have really done me a favour even though I am not using them.

The FSCS are dealing with my claim against the broker Mortgage Advice Services Limited (now Keater Limited) who went into Liquidation last year for selling me and my wife Single Premium MPPI in 2007. They said that they had been passed our infomation following the liquidation of Commitments Protection who provided the insurance as they were well aware that we had been sold Single Premium MPPI.

So this had led me to make my own enquiries (this site has been a great help) and make the claim myself through the FSCS who are now just waiting for my mortgage company to confirm the re-mortage balance when we took it out and then it can be assessed and all being well paid out. Even the new owner of Commitments Protection has confirmed all the details to the FSCS within 3 days.

So thank you RMC for bringing this to my attention, sadly if we are successful you wont be having a penny of my money!

I wish other people would avoid the Claims companies as the whole process has taken no more than 2 hours of my time to get this going.

can you let me know what you sent to them as i have just been contacted by rmc and had my mortgage done thru mortgage advice and my ppi was with commitments . its a lot of money to lose as it was a lump sum added to my mortgage!
any help would be much appreciated
thanks

dunstonh

helstac wrote: »

can you let me know what you sent to them as i have just been contacted by rmc and had my mortgage done thru mortgage advice and my ppi was with commitments . its a lot of money to lose as it was a lump sum added to my mortgage!
any help would be much appreciated
thanks

This is one of the simplest complaints you can do. You dont need a claims company to do it. Single premium MPPI is wrong 99% of the time. So, all you have to so is complain to the broker that they should not have set up single premium MPPI as you were charged interest on it which you would not have been had you paid monthly and that the cover was only for a limited number of years and not the full term/open ended.

Even if they reject it (which is unlikely) the FOS will overturn it.

Irwin

To get things started I wrote to the FSCS advising that I had been referred to them as Keater Limited (formerly Mortgage Advice Services) had entered liquidation.

I advised that we were sold a Single Premium Mortgage PPI which is a misale and the true cost of the insurance was never explained to us and we were not offered a monthly option of paying for the premium. Plus the insurance was only for 3 years cover and we would be paying for 21 years.

They will send you a questionnaire.

If you PM me your email address I will send copies of the documents I used etc.

magpiecottage

dunstonh wrote: »

This is one of the simplest complaints you can do. You dont need a claims company to do it.

But they will want to do it because it will be even less work for them than it was for the adviser to set it up AND they will get paid more for it than the adviser got paid to set it up.

Unless they can show that you were made aware that it was being added to the loan, the full cost of the cover over the entire life of the loan AND the fact that the cover would not last the life of the loan they are stumped.

Showing that information to a customer would make most single premium PPI seem so unattractive that it is difficult to see how they would make an informed decision to buy it.

TonyScouser

Hi, Newbi here regsitered this evening because i'm dealing with the firm Refresh My Credit, Looking at other posts seem's i may have fallen into there trap (Hopfully not), Money will do my Credit Card balance the world of good

I also was contacted by them and was amazed the forms dropped on the doormat already filled in and i just had to sign on 3 pages, I was told the full amount i had payed for the PPI was due to me and they would take the % out of that ammount on the last 4 years as their payment, I aslo took mine out with Mortgage Advice Services and RMC asked for any paperwork i could supply to prove i had done, I sent them the original paperwork from the booklet MAS supplied me with (Pages 1 and 8 Never to be seen again i suppose)

I've only searched around tonight because for the last 2 days all i keep getting is a answering machine that tells me to leave my name and number and somone will call back, I've done this 4 times so far

I hope i've not been scammed and neever see anything of my £4,300

If i have any joy i'll throw a post up