Claim Handlers - how do they receive their money?

Soul121

Hi,

I am curious how these company actually receives there slice of the claim? Afterall I am assuming that the customers receives the payout from the bank so how will they find out that a) the customer has been paid b) the amount they have paid and c) how can they then obtain their amount from the customer? Am I missing something here. I would consider myself as an honest person but im sure there are many people out there that would think twice about handing over a proportion of their claim when they get paid.

I think it is important that we all know how this process works so please input your experiences.

Thanks

dunstonh

I am curious how these company actually receives there slice of the claim?

The most common method is the company paying the redress or their insurer pays you. You then pay the claims company. Sometimes the money may go via the claims company first.

im sure there are many people out there that would think twice about handing over a proportion of their claim when they get paid.

There probably are given the number of try-it-on or fraudulent complaints being made. Many of which claims companies are responsible for. So, you could say serves them right. However, claims companies tend to have very tight contracts and will take the person to court to get paid the money.

magpiecottage

dunstonh wrote: »

There probably are given the number of try-it-on or fraudulent complaints being made. Many of which claims companies are responsible for.

Got two complaints about non-existent PPI policies today!

J_i_m

The claims company will more than likely know about the payment anyway since people who use them have agreed to let them take on their case and so they'll be communicating with the bank and FOS.