Claiming companies?

PetayPan10

Hello all, I've had a loan with barclays for 5000 which os now paid off, wondering if yous could recomend me a company i should make my claim through. I know its best to do it your self, but I really dont have the time.

Looking for one which will be fast, reliable, and charge 25%? this seems normal..

Thanks,

Peter

dunstonh

wondering if yous could recomend me a company i should make my claim through. I know its best to do it your self, but I really dont have the time.

What makes you think that you will save time using a claims company?

You still have to supply the same information.

Looking for one which will be fast, reliable, and charge 25%? this seems normal..

timescale is no different whether you DIY or use or claims company. Reliable is not something you typically associate with claims companies. 25% plus VAT is more typical. Not bad for putting a stamp on an envelope.

DrSqueeze

I don't think you'll find dealing with a claims company any less time consuming.

In order to make a complaint yourself, you write one letter to the lender giving your reasons why you feel it was missold. They then deal with you direct. Most of mine have investigated the complaint without me needing to complete any forms. If they're slow replying, you chase the lender by phone / email.

In order for a claims company to handle your complaint, you have to give them all the information about your loan and your circumstances, plus sign the forms to agree to their service and give them authority to act on your behalf. If the lender is slow replying, you have to chase the claims company, who then chase the lender. Some claims companies are also slow at doing this.

PetayPan10

Well I am not 100% off the idea doing it my self, dont know where to start.

Peter

DrSqueeze

PetayPan10 wrote: »

Well I am not 100% off the idea doing it my self, dont know where to start.

Peter

Have a read of the guide: http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar

You can ask any questions you like on this forum, and will get answers for free.

By making the complaint yourself, you could save hundreds of pounds. As an example, my complaint with one lender cost me 39p for a stamp and nothing else. If I'd used a claims company, it would have cost me £1700. :eek:

kelly993

PetayPan10 wrote: »

Well I am not 100% off the idea doing it my self, dont know where to start.

Peter

Hi

This really is a very easy process, clearly its upto you but personally I would not use a claim company. They do very little for allot of money if you have a read of this forum you will find posts by people who are very unhappy with their service and very reluctnat to pay them.
Fist of all find all loans/credit cards/store cards that had PPI on them. Your credit agreement will highlight this. Then if you feel you have been missold goto the home page and read through the 'how to claim' section. From here you can download the FOS questionnaire, fill this in and sent it to the bank you are claiming from. Then you sit back and wait for them to respond. That is basically it. Please take the time to read the reasons for PPI missale. For some people it was very useful its only missold under the circumstances listed. There is a mass of information on this site and there are always very experienced people willing to help. I have done all mine with the help of this site..you really don’t need a claims management company

DrSqueeze

The first place to start is thinking about your reasons for believing the PPI was missold. The link above may help clarify this as it explains what should have been considered at the time of the sale.

Once you have your grounds for complaint, you only need to send them one letter, which could be something like this:

"I am writing about the payment protection insurance sold as part of the above.

I believe this insurance was mis-sold and I am therefore requesting a refund of the premiums paid.

When the insurance was sold.... [insert your reasons for believing it was missold] "

Or you may prefer to use the questionnaire (which you can find in the link). Some people find it helps them explain the situation and not overlook anything.

magpiecottage

dunstonh wrote: »

25% plus VAT is more typical. Not bad for putting a stamp on an envelope.

That is unfair DunstonH. They will also have to put a stamp on the envelope containing the signed acceptance - once the OP has taken the time to post that back to them.