Charges from PPI claims company

Karenmcg

Hi there looking for any advice can get. I have used a claims company to claim back PPI from bank loans. The company sent out some consent forms for me to sign which i did. The company did not disclose their fee to me at any point. I have now been contacted directly by the bank and made an offer of compensation. The claims company then phoned me and told me they were sending out an invoice. The claims company are charging me 39% of my compensation offer. I think this is shocking. Can I ask them to take a lower amount or do i have no option but to give them the full 39% ? Had I known I could have done this myself I would have. The whole process only took three weeks!

Karenmcg

Apologies, already had reply to this on another thread. Seems I have no way of proving they did not send me details of charges as all consent forms were sent back and they sent me no other paperwork, company called the claims advisory group. I am sure they did not inform me of their charges as if they had I would defo not have used them. Wonder if anyone out there has had a similar experience with this company? I think 39% is a whopping amount to charge!

[Deleted User]

Why did you use them if you didn't know how much they charged? Assuming they were free because you didn't read the paperwork is not really a cause for complaint.

dunstonh

The claims company are charging me 39% of my compensation offer. I think this is shocking.

It is not far off the going rate.

Can I ask them to take a lower amount or do i have no option but to give them the full 39% ?

You agreed to employ them. They are entitled to be paid.

Had I known I could have done this myself I would have. The whole process only took three weeks!

1 - they are required to tell you that the you can use the free of charge complaints process yourself without using them
2 - they are required to put their terms in writing to you for you to sign and return to them.

So, whilst they could well have breached the first point (you cant prove it either way), the second point is going to be your problem as you would have signed an agreement that set out their charge.

Do you normally buy products and services without knowing the price first?

meer53

This is from their website :

At the Claims Advisory Group we work on a no win, no fee* basis. If we are successful with your claim, we will charge a fee of 39% of the value of the settlement. In other words: should we be successful in reclaiming £3,000, the success fee payable will be £1,170. The only other occasion that you may have to pay is after the initial 14-day cooling-off period you should decide to cancel our contract. A fee will then be payable which reflects the work done on your behalf up to the point of cancellation. We do not charge upfront fees.

amersall

The only other occasion that you may have to pay is after the initial 14-day cooling-off period you should decide to cancel our contract. A fee will then be payable which reflects the work done on your behalf up to the point of cancellation.

Reflects the work done?????

:rotfl::rotfl::rotfl: so that will be the price of a stamp and someone walking to the post box to post the claim to the bank :rotfl:
They make me sick these companies, money for old rope.

goonarmy

How are people still using these companies? A couple of calls and a letter-done. It really is quite clear on here or martins tv program how to do it.

magpiecottage

dunstonh wrote: »

Do you normally buy products and services without knowing the price first?

The OP bought the PPI without knowing what they were getting for their money.

Lets hope the lesson has been learned now.

Karenmcg

They only sent me consent forms to sign for permission to find account details! I perhaps stupidly thought they would have then sent me details of their charges before hearing anything from banks. Shame on me then for assuming, cheers dunstonh, moneyineptitude really not helpful comments. dont think i will use this site again!!!

[Deleted User]

Karenmcg wrote: »

Shame on me then for assuming, cheers dunstonh, moneyineptitude really not helpful comments. dont think i will use this site again!!!

I have to say that originally posting your problem here on the thread reserved quite clearly for NON PPI discussion suggests that you really should read far more carefully, especially with regard your finances.
https://forums.moneysavingexpert.com/discussion/comment/63362466#Comment_63362466

You can berate us here for not being sympathetic to your plight, but it really is your own fault if you still went ahead and employed this company despite not knowing how much they charge!

dunstonh

I perhaps stupidly thought they would have then sent me details of their charges before hearing anything from banks.

That isnt how they work. They send you a contract to sign and an authority to deal with the complaint. If you don't read what you sign then you are going to get caught out. You need to stop this as you are making a habit of it. First PPI, then the claims company. Rather than blame those telling you the facts (and no-one on this thead likes claims companies) perhaps you should look at why you keep getting caught out.

Shame on me then for assuming, cheers dunstonh, moneyineptitude really not helpful comments. dont think i will use this site again!!!

Just because you do not like the answers, does not mean they were unhelpful. You entered into a contract to employ a firm. Perhaps your employer should say they stupidly believed that you would work for free this month and not pay you. That is effectively the argument you are trying to make for not paying the claims company.