36% interest

Tottie10

I was hounded by ppi company and finally gave in only because i had done a search before and had no success...
So they took over I stupidly only signed agreement without reading it knowing I had nothing to claim...I thought
However I suddenly had 6,700 returned direct to me and followed by invoice for 36% totalling 2,400
Is there any way I can negotiate this? They say this is normal fees but the web says 15% mostly???
Have I been stung

[Deleted User]

Tottie10 wrote: »

I stupidly only signed agreement without reading

Are you sure the "36%" doesn't also include VAT?
CMCs can charge whatever fee they want to, it's up to the individual whether they agree to pay what they charge!

I'm afraid you've signed a legally binding contract with this company and you'll have to pay...

Fruit_and_Nut_Case

Welcome to MSE :wave:

36% interest

It may be 36% but it's a fee, not interest.

[Deleted User]

Fruit_and_Nut_Case wrote: »

It may be 36% but it's a fee, not interest.

I think the OP realises that seeing that he has the invoice to pay!
Typo I think...

Tottie10

Yeah sorry I meant fee and I guess I will pay up
It annoys me I have till June 1 st to pay and they have rung 3 times already to ask when I'm paying up

-taff

Well, next time, come here first for advice

bengal-stripe

Tottie10 wrote: »

......knowing I had nothing to claim...I thought......suddenly had 6,700 returned ....followed by invoice for 36% totalling 2,400

£6,700 minus £2,400 leaves you with £4,300. Isn't that better than nothing?

You had an unexpected windfall......Enjoy it!!!

[Deleted User]

bengal-stripe wrote: »

£6,700 minus £2,400 leaves you with £4,300. Isn't that better than nothing?

Perhaps, but composing his complaint himself would have netted the OP the entire £6,700.

Do you really think the CMC deserves £2,400 for effectively putting a postage stamp on the envelope?