Anyone heard of a claim management company called ifonic?

magpiecottage

furdepazzi wrote: »

I had a series of claims with ifonic they charged me £1000 with up front fees, said they had a 98% success rate and after 7 months and 8 complaints later said there was going to be no compensation for me.
Avoid like the plague:mad:

Did you pay the fee by credit or debit card?

ChilliP2012

Updated my post (#92) above

magpiecottage

I would still complain to ActionFraud as well. That way it has to go through their books too and keeps Stanford on their radar!

Copy in your MP as well if you like.

yorkiedownsouth

I had a call from these guys today. Fortunately I know one or two things about financial transactions and find it always good to mention "the rule of 78". This is how interest used to be added to loans, credit cards, etc. as it is the numbers 1 to 12 inclusive totalled. In the first month of repayment you pay back 12/78ths of the interest; in month 2 you pay back 11/78ths; month 3 10/78ths and so on. This means that after about two thirds of the agreement has been completed most of the interest plus the principal have been repaid and you usually get offered another loan deal. If anyone is worth their salt in the financial industry they will know about this rule - these guys didn't: no surprise when reading this forum. I find that using the Rule of 78 is good enough to test someone's mettle and competence in their so called field of expertise. I was going to be charged £990 on a pre-authorised deal. They referred to it as "like booking a hotel". When they told me to look at the MoJ website it even comes up with "cold calls are scams". I told them this and they said that was for foreign companies - what cheek! I had no pressure on my time and kept them entertained for nearly an hour, with them pushing to get my card details. They were coming up with reasons why they were so good for me: they ring from proper landline numbers; they cannot do what they do if they were not registered; they would lose their licence if they did anything illegal and so on. Don't do it! Don't agree to anything with these people.

sweett_2

Further to my previous post (#90) I have not had anything charged to my credit card so it would appear by acting promptly I avoided paying Infonic any money. Therefore if you get a call and do give them your details and then immediately regret it (as I did) , send a recorded delivery letter informing them that you do not wish to proceed.

Lizzy_Dripping_1968

After numerous emails and phone calls to Ifonics they have now credited my card with £990 which they took without my consent, so if anyone is still pursuing their money back, please persevere. I have definitely learnt a valuable lesson and will never give my card details to anyone again!!

magpiecottage

You should still report your experience to consumer@claimsregulation.org.uk

However, the rule remains NEVER give your credit card details to a cold caller.

Flogirl

Has anybody had any success in getting their money back from this company? My friend who is struggling on many fronts was taken in by somebody who called from Ifonic and didn't realise any money had been taken from the credit card until a statement arrived. The person who telephoned was emphatic that no money would be taken. This seems to me to be fraud especially since most (I have looked on other forums) seem to be debited £990. Surely there is recourse to this?

magpiecottage

Flogirl wrote: »

Has anybody had any success in getting their money back from this company? My friend who is struggling on many fronts was taken in by somebody who called from Ifonic and didn't realise any money had been taken from the credit card until a statement arrived. The person who telephoned was emphatic that no money would be taken. This seems to me to be fraud especially since most (I have looked on other forums) seem to be debited £990. Surely there is recourse to this?

As I have said previously, tell the bank it is an unauthorised debit and request it is reversed in accordance with FCA rule 5.1.11R. Then report it to ActionFraud as an advanced fee fraud.

barrybarry85

I have had these guys on the phone this morning. The speed they speak in a welsh accent makes it hard to understand what they are saying. Thanks to this forum I seen they would be taking a feeand I managed to stop them from taking the money and just to be sure I called the bank and cancelled the cards.
I too had the tale of 7200 compensation but they would need a fee of £792 before they could start the claim that I would get back either from winning the compensation or claiming it through the card for ot receiving a product I was promised.
Thanks MSE forum