Is LifeStyleMoney = Life Style Claims?

1sMa

Hi my name is Ismael and I am a newbie within this community.

I will start with I received a call today from the company Lifestylemoney under the telephone number: 01792482444.

The CSR I had on the phone was really polite explaining that I can reclaim some money out the mis-lead PPI sold from various creditors and financial institution. Anyway the call was lenghty and I started asking some questions about the company. He replied that I can check all their details against their registered authorisation number CRM 16588 and their website www . lifestylemoney . net. He gave me the names of his colleagues that should ring me back to check further details and so on (Rachel Morgan or Jack).

Anyway Rachel (lovely sounding lady) asked me the type of credit cards that I did have in the past, with who and their limits for the current ones that I am using. She explained that they are taking 30% on top of the claims they are making. We went through the scenario of receiving a claim of £10000, they would ask for 30% on top of that (basically claiming for £13000 and you receive your £10000). I gave them my address so that they could send me some sort of form to agree and send them back the relevant paperwork to make the claims. She stated that another colleague will give me a ring on Monday next week at 17:10 or that if I am unsure of anything anything I can pull off at anytime and call this number: 08443440404. She passed me to another colleague of hers to read some disclaimer that failure to return the paperwork or failure to warn them of pulling off could lead to a £50 administration fee.

I have never given my bank details at any points within this call not until I do some search on the company and the extraordinary stunt they can provide (or eventually scamming people).

I have read several posts about Life Style Claim within this site with the same CRM and telephone numbers coming back.

My first question is simple should I run away from them as fast as possible and terminate any of the procedure on Monday next week?

I know that I had quite a lot of Credit Cards in the past (approximatively 12 to 15 in the last 6, 7 years) that I have managed to repay but the effect is that I am still having 1 loan, 1 Credit Card (not using it but the balance is still active) and an overdraft to repay every months. I have destroyed all credit cards that were remaining and that I have repaid. I still got most the paperwork from the various creditors, my second question will be if it's really possible to claim back mis-lead PPI without going through a company? And if it's not going to affect any of my future plans with my current creditors?

Thanks for your replies in advance.

dunstonh

Anyway Rachel (lovely sounding lady) asked me the type of credit cards that I did have in the past, with who and their limits for the current ones that I am using. She explained that they are taking 30% on top of the claims they are making. We went through the scenario of receiving a claim of £10000, they would ask for 30% on top of that (basically claiming for £13000 and you receive your £10000).

That is not correct. Financial redress makes no provision for the payment of third parties. So, if the redress is £10,000 then you pay the 30% plus VAT at 20% out of that £10,000. The other party doesnt have to pay it. So, in this case it would be £10,000 with £3600 deducted from that to pay the claims company and VAT leaving you with £6400.

Another thing to be wary of is that claims companies typically overstate what you will get. If you have been misled on the charge then chances are you have been misled on the potential figure as well.

My first question is simple should I run away from them as fast as possible and terminate any of the procedure on Monday next week?

You have been given incorrect information about the charge. Upto half the complaints the banks are getting on PPI are now fraudulent and most come from claims companies and the ministry of justice is investigating that. The MoJ struck off over 700 claims companies last year. Its a rogue sector.

my second question will be if it's really possible to claim back mis-lead PPI without going through a company?

Yes. Its an absolute doddle and its free of charge. The claims companies use the same free of charge process. So, it doesnt change your chances of success. Indeed, claims companies can actually harm you as most use a one-size-fits-all template letter that the complaints handler at the bank has probably seen hundreds of times and will instantly be sceptical about the content.

Your post suggests you may have arrears/defaults. if you do, then you must not under any circumstances use a claims company. If you have arrears/defaults then the money paid under redress can be used to clear the debt and not come to you directly. You then end up with the claims company bill despite not personally seeing the redress in your hands.

1sMa

I have actually received a document from them via email and the only thing I am saying it's a big thank you.

I will repay what I owe which I will be able to do within 6 to 7 months.

I will reply to their email and opt-out (or run away from them).

Regards,

1sMa

magpiecottage

You will find this lot, under their various aliases, are probably the biggest sharks of them all.