Ppi claims companies???

Confusedwelsh

Can anyone possibly recommend a reputable PPI claims company please? I have read horror stories about companies withholding claims payments until extortionate fees are paid! Has any one used a decent company at all? Many thanksx

DrSqueeze

Hi and welcome.

Firstly, it's easy to make a complaint yourself and costs only a phone call or a stamp. And you keep 100% of the payout if they uphold your complaint.

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

If you use a claims company, be prepared to part with 30% to 40% of any payment the bank offers.

As an example for you, I got a refund plus interest from the CoOp of over £4000, and it cost me one stamp. If I'd used a claims company, they would have charged me a fee of over £1200.

magpiecottage

Confusedwelsh wrote: »

Can anyone possibly recommend a reputable PPI claims company please?

Can you recommend a Pope who isn't catholic?

As Dr Squeeze says - do it yourself, using the form here.

It will help you to structure the complaint and also give some indication as to whether it is valid or not.

Be honest, don't say things that are not true ("I do not remember being told" will not damage your credibility like "I was not told" if the firm can prove you were).

Keep copies of correspondence and get proof of posting (free from the Post Office) or fax it (so you get an instant receipt).

dunstonh

Can anyone possibly recommend a reputable PPI claims company please?

That is an oxymoron. Reputable and claims company are not things that go to together.

biondani

Don't forget it's not just 30% of the claim amount but also 30% of any future amount you save. For example, I am waiting back £9500 from BH. If I went with a claims company, I would owe them £3000 from that, 30% of the £4500 that my loan reduced by and 30% of the £60 per month that my loan premiums have reduced by for the next 8 years ie 60*12*8*30% = £1728.

So total bill would be: £1728 + £1350 + £2850 = £5928. So of the £9500 I would get back by complaining myself, I would get back £3572 if I used a claims company. Not bad for the price of a stamp. I think I see where all the ex-bankers have gone ;-)

Ian

magpiecottage

dunstonh wrote: »

That is an oxymoron. Reputable and claims company are not things that go to together.

No they do not on the other hand CLAIMS COMPANY and [STRIKE]OXY[/STRIKE]MORON seems a pretty good match.

sands02

Confusedwelsh wrote: »

Can anyone possibly recommend a reputable PPI claims company please? I have read horror stories about companies withholding claims payments until extortionate fees are paid! Has any one used a decent company at all? Many thanksx

Have a go yourself.....After reading all the great advice given on here I took the plunge and phoned LLoyds Tsb and e-mailed them a few times and have had an offer of over £5k...which will be all mine (apart from tax due:(:() Better in my pocket than someone elses!!!

bandofbrothers

I still shudder when I read those percentages these sharks charge.

They certainly saw a niche in the market there.

Fee's of thousands of pounds all for in most cases sending a simple letter !

Shocking.....

dilus

DON'T USE THEM, do it yourself confusedwelsh using the forms off here. Spend an evening filling in the form and putting your case forward as honestly as you can recall and put a stamp on it, job done. That's all the claims companies do and get 30% of your cash. It's a no brainer and good luck.