ppi reclaim company

thepayingoutneverstops

morning...just wondering,.... my husband has started procedures around 6 weeks ago with a ppi reclaim company to claim a refund on our ppi on a hugh loan we have i never wanted to use the company in the first place and have recieved a letter this morning from our loan company (sounds like its been forward from our ppi relaim company) stating ..please ensure your client(us) is aware that they may refer from using your services ...i dont really understand this comment does it mean we can ring our ppi reclaim company and stop them working for us on our behalf midway through our claim or as we have signed their form are we contracted to continue to use the services till pay out and they take their 30%???

dunstonh

Claims companies have to make you aware that you dont have to use a claims company and that there is no cost if you do it yourself.

It sounds like the loan company are making sure that the claims company have met this requirement.

does it mean we can ring our ppi reclaim company and stop them working for us on our behalf midway through our claim or as we have signed their form are we contracted to continue to use the services till pay out and they take their 30%???

You will have to check your contract with them regarding cancellation rights.

Plus, I dont want to be the bearer of bad news but claims companies are VATable. So, its 30% plus 20% VAT.

magpiecottage

dunstonh wrote: »

So, its 30% plus 20% VAT.

That is 20% of 30% - which works out as a total of 36%.

Still pretty steep for putting getting somebody putting a form into a post box to go to somebody in order that they may put it into another (unnecessary) envelope, put another (unnecessary) stamp on it and put it back into the post!

Tinkinpinkin

Hi, first time here so be gently please. I need some help. I have recently appointed a reclaims company to reclaim some ppi on a loan and a credit card. At the beginning they said I'd have to pay a fee of 25% plus vat which I was happy to do. I Then received two letters, 1 stating they had reclaimed an amount from 1 creditor which I had to fill out a acceptance form and the money would be payed to me direct, which it is has. The other was that they had reclaimed another amount from the other creditor and to help me "get back on track" they wouldn't be charging a fee for the services! When I contacted them they said the letter had been sent by mistake. Do I have a right to not pay the fee? Iam still awaiting the money from my second claim.

dunstonh

Do I have a right to not pay the fee?

no. An incorrect letter doesnt suddenly remove your requirement to pay the fee.

Tinkinpinkin

Oh right ok. Thought because I had that in writing I would be well within my rights to refuse paying a fee? Hmm, been told something different by two other sources of financial advice. Also now I'm confused about whether I'm meant to be paying a fee on both claims or just this particular one! I'm in two minds whether to tell the company about the money I've received already direct to me as I'm not happy to now be paying a fee as I feel I've been mislead, feel very confused.

Tinkinpinkin

Please someone, I need more advice on my next move? I'm now so very confused.

amersall

I am afraid you will have to pay the company, if you get the second refund back to you, then phone the claim company and see if they will make an arrangement for you to pay the fee.
I dont think there is anyway round this to be honest.

If it was me, and this is just my opinion, i would use the letter against them, you have it in black and white they wont charge a fee so that is what i would go by.
They shouldnt send this kind of letter out in error.
Who is the company?.

Tinkinpinkin

The company is a sister company through Gladstone brooked called debt advice unit. My argument is that like u say it's in writing and I though in the eyes of tha law if it's in writing then I have the right to refuse paying the fee. I'm not sure whether to tell them about the other amount of money I received back from my loan that they refunded, could I get into trouble if I don't tell them? Any advice greatly appreciated!

amersall

Tinkinpinkin wrote: »

The company is a sister company through Gladstone brooked called debt advice unit. My argument is that like u say it's in writing and I though in the eyes of tha law if it's in writing then I have the right to refuse paying the fee. I'm not sure whether to tell them about the other amount of money I received back from my loan that they refunded, could I get into trouble if I don't tell them? Any advice greatly appreciated!

Hi there, i think if you used the company for this claim, they may already know you have this, see what the bill is when they send it to you, but i think they will know.

Tinkinpinkin

If I refuse to pay the fee what might happen? How does it work?