Anyone heard of a claim management company called ifonic?

Moly

I've received a cold called from a company called ifonic. Apparently for a £495 fee (which would be charged on to my credit card) they could get me a minimum of £5400! But they wanted my card details first. All this because they believed my mortgage advisor received a bonus from my mortgage lender for arranging the mortgage. Is this company legit??

PlutoinCapricorn

I would be very suspicious of a cold caller, and would not give them my card details. Let's see if we can find anything...

PlutoinCapricorn

Even if they are genuine, MSE can help you to claim yourself, so you save the fee.

PlutoinCapricorn

It seems they are calling everyone about everything: forget them.
"
Just had a call from this number from a welsh guy saying he was from iPhone claims or sounded like that anyway. He was very vague about what they do. But when asked if it was to do with ppi claims he said no but you can claim for any agreement, I asked what kind of agreement he said anything like car loans mortgage etc. told him I hadn't got anything like that do hung up on him. Seriously fed up of being cold called as I'm listed with the TPS but it diesn't stop them..."

http://whocallsme.com/Phone-Number.aspx/01792828773##

dunstonh

Moly wrote: »

I've received a cold called from a company called ifonic. Apparently for a £495 fee (which would be charged on to my credit card) they could get me a minimum of £5400! But they wanted my card details first. All this because they believed my mortgage advisor received a bonus from my mortgage lender for arranging the mortgage. Is this company legit??

Look up advance fee fraud. This is exactly what it is.

The reason you were given is false and I known scam used by some dodgy individuals but it is actually based on a modicum of truth but then twisted to make it sound grander.

There is one known court case success where an independent broker was paid a fee but also received a commission but did not disclose the amount of the commission. The court ruled that the commission amount should be disclosed. The commission of £240 was ordered to be refunded.

Commissions are typically around 0.3% of the amount borrowed. So, for you to get £5400 you would have to borrow £1.8 million.

Plus there are more issues. You would have needed to pay a fee on top of the commission. Your documentation would need to show no disclosure of commission (it usually does). It would need to be a mortgage broker and not a bank clerk. It would also need to be an independent and not a tied agent (independents are agents of the client. Tied brokers are agents of their employer).

Wilson & Another v Hurstanger Ltd is the case in question if you fancy a read. However, do not fall for the scam.

magpiecottage

This is a company called Cerys-Angharad Limited of Swansea - capital of the fraudulent ambulance chasing world.

I recommend you report your experiences to consumer@claimsregulation.gov.uk

roonaldo

Moly wrote: »

I've received a cold called from a company called ifonic. Apparently for a £495 fee (which would be charged on to my credit card) they could get me a minimum of £5400!

what a load of !!!!

All this because they believed my mortgage advisor received a bonus from my mortgage lender for arranging the mortgage.

so what if they did. post Oct 31 2004 sales will disclose commission on the KFI and mortgage offer.

Froggitt

Had a call from these guys today. Am registered with TPS but they dont care. Am fed up will cold callers. So..........

.....wasnt doing anything this afternoon, so decided to waste their time as they waste mine every time the phone rings. Yes I have a £250k mortgage, a Barclaycard, a TSB card, a Halifax card, a car loan , more credit cards, a re-mortgage, previously had an egg card, a Conran Card, have a Natwest loan, something with Norwich and Peterborough.....and on it went.

I could hear the bloke at the other end slavering.

Eventually he told me that my ten credit cards would lead to a refund of £18k, and the loan another £5k.

Then it all changed. "Have you ever heard of the Telephone Preference Service" Yes but we were given your number so it doesnt apply.

"Who by". The Government Department who regulates us.

"Did I ask you to phone me". No

"So its a cold call then" Not really.

"And do you respect the TPS notice" No and its a good job we dont because you'd be losing out on a lot of money

"Actually what Ive told you over the past half hour is fiction. Ive not paid interest on a card in 30 years, the mortgage is paid off, I bought my car with cash, never had a bank loan"

Turned out he wasnt that amused that I had wasted his time. I told him that I was fed up with cold callers who wouldnt take me off their list, and I assumed that they would now do so.

roonaldo

brilliant froggitt

edtomewaandol

My wife was recently cold called by a company called Ifonic Claims regarding substantial claims she was entitled to with respect to mis-sold PPI. Having peaked her interest they said they would call again the next day.

The next day they managed to persuade her to part with £990 from her credit card. This represented “10 verification fees” relating to 10 loans or credit cards that they had established she had used. What was most disturbing was the lack of proper care taken by the company to determine whether:

1. They would be able to carry out a verification on the cards discussed
2. There was any chance of a potential claim

8 of the cards for which they charged her were in my name and she is not party to the credit agreement, merely an approved secondary user. 6 of the cards have never charged me a penny of charges of any sort, interest or other, so I fail to see what I could claim back given all I have received from them is free credit.


Having called them as soon as I discovered what my wife had done, I was told that I needed to wait for documents then return them. I did this and expected them to process the full refund as agreed. When I called, I was told that the refund would take up to 31 days and the reason given was that the credit card company could take this long. I asked how long they would take to process the refund and was told the FD’s department dealt with this. I asked to speak to someone from the FD’s department and was told they were not client facing. I have never come across a credit card company that takes any longer than a few days to clear a refund, once requested by the vendor.
To date, after 26 days they have not processed the refund from their end.


I cannot recommend enough that you avoid these people. They seem wholly dishonest, trying to obtain money under false pretences which, when you try to recover it, they will then keep as long as they can. This is just my experience and the opinion that my dealings with unpleasant representatives of the company who seem to care nothing for those that whom they claim to represent.


The representatives I dealt with talked in vitriolic terms about banks and their practices but told me on the phone they take 22% of a claim, even though they have to add VAT to that making it in fact 26.4% (seems as bad a practise as bloating interest charges with PPI). They also say you will get your verification fee back when talking to you, either deducted from the claim if successful or from them if it is not, as you supposedly cannot end up worse off they say by law. This is contradicted on their site. Also when you put in multiple claims they talk as though all claim payments will be treated as one, therefore not returned by them for each unsuccessful claim.


I do not know if I will successfully get my money back – I have had to raise a claim through my credit card company – but would say that the misery and anxiety this substantial theft (as it currently stands) has caused has been considerable and I would hate others to suffer similarly.

[Deleted User]

edtomewaandol wrote: »

I have had to raise a claim through my credit card company

This would be all I could suggest. Thanks for the warning.