We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Claims Company Fees
ppi-advisor
Posts: 15 Forumite
Hi all,
I have noticed that multiple Claims Companies who are charging for the PPI claims service are holding funds.
Say that a client has 3 accounts under claim. The barclays account sends a cheque for £X the HSBC reduces the Balance by £Y and the Natwest account is still underclaim.
As the cheque was recieved by the claims company. They hold the funds to pay for the Fees on both the Cheque AND the balance reduction. The remaining difference is still held until the completion of the other claim has completed.
When the client calls the claims company requesting that the funds are refunded to the client. The claims company is reluctant to give the money until all claims completed or just refuses the money is refunded until completion.
Can a company hold Funds from one claim to pay for another?
What are your thoughts
Regards
I have noticed that multiple Claims Companies who are charging for the PPI claims service are holding funds.
Say that a client has 3 accounts under claim. The barclays account sends a cheque for £X the HSBC reduces the Balance by £Y and the Natwest account is still underclaim.
As the cheque was recieved by the claims company. They hold the funds to pay for the Fees on both the Cheque AND the balance reduction. The remaining difference is still held until the completion of the other claim has completed.
When the client calls the claims company requesting that the funds are refunded to the client. The claims company is reluctant to give the money until all claims completed or just refuses the money is refunded until completion.
Can a company hold Funds from one claim to pay for another?
What are your thoughts
Regards
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards