Do I have to pay the 39% charge to the reclaim company?

pampam

I stupidly went with a "reclaim your PPI claims company."

They convinced me I would get more back if I went through them.

I have received my cheque for the PPI refund along with a bill for 39% of the claim amount.

Do I have to pay them?

Shall I call their bluff and make an offer for reasonable admin charges?
I would just refuse to pay but I don't want to mess up my credit rating.

If anyone has misold a product it was this company.
Their claim that I "would get more back from the bank through them was completly untrue."

What would you do??

Once_bitten

Messing up your credit rating will be the least of your worries when Knuckles from the collection dept comes knocking at you door

roonaldo

So you used a Claims Management Company to claim back your PPI premiums, they were successful doing this for you. Now you are trying to avoid paying them?

Answer this question, do you want them to sue you?

pampam

This company cold called me and lied to me.
They said they could get me more money back from the bank. This is a blatent lie.
I am willing to pay reasonable admin charges but 39% is outrageous

dilus

You have done well to get your cheque BEFORE having to pay them. Some people have posted saying that their claims companies are demanding payment before sending back the acceptance form, leaving the claimant out of pocket for possibly weeks

roonaldo

pampam wrote: »

They said they could get me more money back from the bank. This is a blatent lie.

You said in your first post you received your PPI refund. If so, then the CMC has done what they set out to do.

You are only entitled to what you paid towards the PPI, which is a refund of the premiums you paid plus 8% interest. You are not entitled to a penny more.

You used the services of a company to do this for you and they are entitled to be paid as per the agreement you had with them. I know of many that have set out to sue non payers. In a court, you wont have a leg to stand on.

pampam

Ok Thanks for your comments.

dilus

Sticks in the throat pampam and if it wasn't for this fabulous site I might have taken the same route, so glad I didn't. At least you got a positive result.

jjr197

If you have any paperwork from them saying that they will get you more than you can get on your own you "might" be able to get out of paying based on their misrepresentation. If not, then if you signed an agreement with them you're pretty much over a barrel.

You could always make them a lower offer and see if they accept it. They might not want the bother of persuing the debt if they can get most of it easily. 39% is higher than most companies that I've heard of (but that's not many come to think of it), so you might get lucky.

Best of luck!

KellyM_3

pampam wrote: »

This company cold called me and lied to me.
They said they could get me more money back from the bank. This is a blatent lie.
I am willing to pay reasonable admin charges but 39% is outrageous

I dont agree with claims companies and would never use one myself, but no matter how much (or how little) work someone does for you, the terms and conditions of the contract should be honored if you agreed to them in the first place - your signature at the bottom of the contract confirms that you have read and understood their terms and based on this are happy to proceed.

Regardless of what the Salesman told you on the phone - contract is king.

If you thought the 39% fee was too high or you did not think that the contract reflected your discussions (in relation to rebate figures etc) then a contract should not have been signed.

magpiecottage

pampam wrote: »

They said they could get me more money back from the bank. This is a blatent lie.

It is indeed. It is what we in the trade call "MISSELLING".

I am not going to rewrite it but have a look at what I have just put on this thread.