Serps contracted out compensation?

RoosterJules

Hi,

I recently had a phone call from a claims company saying that when I was sold contracting out in '89, iI was wrongly advised, and could be liable for compensation. Has anyone else had this, or tried to do it themselves, I called the FSA and they said there could be a case to answer, but my IFA said probably not (it was not him that sold it to me!).

The claims company wanted an up front fee and a %age, so I said no to that, but it got me thinking if there is anything that we can do ourselves like the endowment thing.

Anyone got any more info/ideas?

Thanks

dunstonh

Its a scam to get money off you up front. We get about one of these a week and mostly from people being cold called by unregulated claims companies.

Contracting out is not a mis-sale. There are lots of benefits to contracting out as well as disadvantages. I would listen to the IFA as 1) he/she knows your info 2) he/she has no issues whether you claim or not 3) how do you know if you are worse off or better off?

Take a look at this thread from 2 days ago:
http://forums.moneysavingexpert.com/showthread.html?t=438759