Egg PPI with a claims company

pete27577

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

dunstonh

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?

pete27577

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]

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.

pete27577

Moneyineptitude wrote: »

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]

pete27577 wrote: »

Thanks for that it 20%+ 4%vat I think

I don't think VAT is currently at 4%!!!:eek:

-taff

I think you can expect to pay them half of what you received.