Egg PPI with a claims company

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
6 replies 817 views
pete27577pete27577 Forumite
17 Posts
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
Well I had a loan with egg back around 2003 with PPI on it So I send it to financial claims made simple in January this year
As it was a long time ago
We never had a response from egg so fcms send it to the FOS in may
I have not had any think from egg until today
A cheque for £3501.64
Now I did not no I was having it or did the company


Now here is the question do I tell the company or not?
And do I ask egg for a brake down of all the money
Can some one help please

Replies

  • dunstonhdunstonh Forumite
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    Now here is the question do I tell the company or not?

    The purpose of this site is not to encourage people to defraud companies that they use for providing a service (even one is pointless as a claims company).

    The claims company will come after you for their cut soon enough.
    And do I ask egg for a brake down of all the money

    Normally you get it with the cheque or the initial letter telling you that the complaint is being upheld. Its a simple calculation anyway; a refund of premiums plus interest. Do you think it is wrong?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • edited 31 October 2012 at 9:27PM
    pete27577pete27577 Forumite
    17 Posts
    edited 31 October 2012 at 9:27PM
    I no I should tell them but I was under the thinking the company would get paid not me Is this right that I get paid not them?
  • [Deleted User][Deleted User] Forumite
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    pete27577 wrote: »
    I know I should tell them but I was under the thinking the company would get paid not me. Is this right that I get paid not them?
    You have been paid a cheque for £3501.64.
    You cash the cheque.
    The Claims Company present you with a bill for their services.
    You pay Financial Claims Made Simple 30% plus VAT of your redress.
  • You have been paid a cheque for £3501.64.
    You cash the cheque.
    The Claims Company present you with a bill for their services.
    You pay Financial Claims Made Simple 30% plus VAT of your redress.

    Thanks for that it 20%+ 4%vat I think
  • [Deleted User][Deleted User] Forumite
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    pete27577 wrote: »
    Thanks for that it 20%+ 4%vat I think
    I don't think VAT is currently at 4%!!!:eek:
  • -taff-taff Forumite
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    I think you can expect to pay them half of what you received.
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