Endownment Claims, How Long???

moneypennyless

Yet another update!!
We have finaly had the offer and calculations sent to us, the offer was valid for 28 days, and we got it from ECA last sat 25th feb, when the 28 days were up few days later, mon 27th feb. Although we signed and sent it off immediately, it was supposed to go direct to winterthur, yet ECA wanted it going to them 1st, and they would then direct it onto winterthur, making it late!!
I contacted winterthur by email, got a reply saying they have extendd the time frame by another 14 days, but its our responsibilty to get ECA to shift their backsides. Apart from ringing them constantly, and sending emails that they ignore, there is nothing else I can do to shift them along.
Nearly 2yrs of fighting, for £2274.31 of which ECA will take a direct cut of 20%, leaving me with £1800!! Better then nothing I supppose. I had been advised a couple of posts back, that maybe I could ask for winterthur to pay me direct, and then give ECA an amount I felt suitable rather than the 20%, but they have the money payed direct to them, put in a clients account, collect the interest, then take their cut, and then pay us.
Advise to anybody reading this, No way, Ever, should you take your compensation claim up with these endownment claims companies, as they do sweet FA and take a huge cut!! Majorly pis**d off!!

defender_of_the_weak

If you havent posted it to eca then don't

Send it to winterthur and demand direct payment. Then take the matter of fees up with eca. There is absolutely no reason why the money should wash around earning interest in their account until they get round to payin you.

Sadly a little disappointed with your last comment as the MD of a claims company which works hard provides good customer service and does not take a huge cut, and ensures all money is paid direct to clients, but understand your disappointment, please slag off the inividual company, not all of us.

I know I'm in the minority with the way we run our business. Most of our 'competitors' I would not (as my mother would have said) give house room too

moneypennyless

defender_of_the_weak wrote:

If you havent posted it to eca then don't

Send it to winterthur and demand direct payment. Then take the matter of fees up with eca. There is absolutely no reason why the money should wash around earning interest in their account until they get round to payin you.

Sadly a little disappointed with your last comment as the MD of a claims company which works hard provides good customer service and does not take a huge cut, and ensures all money is paid direct to clients, but understand your disappointment, please slag off the inividual company, not all of us.

I know I'm in the minority with the way we run our business. Most of our 'competitors' I would not (as my mother would have said) give house room too

Many apologies defender, didn't mean to insult you personally, and I appreciate all the advice you have given, I do think however, if any body wishes to take on the endownment claims, they should attempt to do it themselves, and take it from there. THen, decide whether to involve a company to act on their behalf, and more importantly, do some research, or try and read reviews on good customer service (such as your company has), look at all the advice on this forum, and read Martins advice on claiming.

Had I have been a member in the July 2004, when I started this, I would have read up more on the topic and attempted to have a go myself, rather than employing ECA, on a whim, on hearing a radio advert!! I am m uch more informed now, thanks to this site, but unfortunately too late for my claim.

And, yes, we posted the forms back immediately to ECA, I have emailed them, but no response, so yet another phone call is imminent to them, to check they have actually sent the forms back to winterthur. If they come back and say they haven't received or returned the forms, then I shall email Winterthur, and ask them to send me the forms direct, then I can return them directly to winterthur. It depends on whether ECA have actually done their job!!

defender_of_the_weak

As edinvestor and co always say 'do your own research'

There are good and bad in all things, including financial advisers and claim companies. If you have the resources such as internet etc then gather as much information as possible before making a decision to use a company or otherwise, my only word of caution is how you word your complaint. As I have seen many times, a poorly worded initial complaint or response to FOS can seriously shoot yourself in the foot, canvas opinion first