Tyler morgan claims ltd

amstel2

Hello

Puzzled by a letter I have recd from a company called TYLER MORGAN CLAIMS LTD.

It starts by saying “as your IVA is now complete we have enclosed a copy of After Your IVA News”.

Now I did have an IVA via Payplan at the end of 2007 & I made one payment then decided it wasn’t for me & decided to go BR instead. I let the IVA fail & used the money saved to pay the BR fees a few months later. The IPA I got under the BR was a third of the cost of the IVA payment. So the IVA was never completed it failed nearly 6 years ago.

Reading the rest of the letter & looking online it seems this company are one of those dodgy PPI claim firms. They are asking me to to contact the CRAs to “update my files that the IVA is complete as CRAs always get this wrong” (I check my files annually & the info seems ok to me). They then ask to send the files to them with eight 1st class stamps to contribute towards their costs & they will then identify any PPI on my old credit agreements. They then say if they can get me compensation they keep 25% plus VAT.

Now here’s what puzzles me. If I did have PPI & decided to claim I would do it myself for free. Also I thought any PPI compensation can be retained by the creditor or I would have to hand it over to the O/R.

Also how have this company obtained my private information should I contact the Information Commissioner.

Has anyone else come across this company?

Thanks

UpToMyNeckInIt

They are a 'legitimate' firm, regulated by the Ministry of Justice.

The get your details from the publically availble insolvency register.

Yes, for the price of 8 1st Class stamps, they will indeed clean up your credit file for you (if this does not happen automatically, or if you cannot be bothered to do it yourself). Saying that, if you have a lot of credit file errors post-BR or post IVA, the price of 8 stamps potentially saves some hassle.

Ultimately though, the company makes little or no profit cleaning up your files. They are however fishing for potential PPI claims as you correctly assume. That's where I guess they make their money.

There was a very amusing internet debate which a TMC representative joined attempting to defend their services. They get more than they bargained for: IVA customers, a CAB representative, an IP put the boot in quite nicely.

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=52376

Worth a read if you want a laugh.

Depth_Charge

UpToMyNeckInIt wrote: »

They are a 'legitimate' firm, regulated by the Ministry of Justice.

The get your details from the publically availble insolvency register.

Yes, for the price of 8 1st Class stamps, they will indeed clean up your credit file for you (if this does not happen automatically, or if you cannot be bothered to do it yourself). Saying that, if you have a lot of credit file errors post-BR or post IVA, the price of 8 stamps potentially saves some hassle.

Ultimately though, the company makes little or no profit cleaning up your files. They are however fishing for potential PPI claims as you correctly assume. That's where I guess they make their money.

There was a very amusing internet debate which a TMC representative joined attempting to defend their services. They get more than they bargained for: IVA customers, a CAB representative, an IP put the boot in quite nicely.

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=52376

Worth a read if you want a laugh.

Hi UTMNII

Yes. I have had a look at that thread, it looks like TMC indeed came under legitimate scrutiny.

I am sure there is another thread on there concerning the provider of secured loans and the release of equity in an IVA.

As far as I can remember the questions and scrutiny have never really been addressed and answered

I will have a look and see if I can locate the thread in question as it also might be worth reading if you want a laugh:)

My take

UpToMyNeckInIt

Hi DC,

Yes, a popular IP offering to supply 8 stamps to each of their customers completing an IVA, for the sole purpose of getting TMC to clear up credit files for next to nothing, was quite amusing.

Going off-subject, the equity release via remortgage vs secured loan has indeed been subject to a lot of recent heated debate on the subject on the other forum.

I shall post more on this subject soon on the 'Support and Discussion Thread'.

Depth_Charge

UpToMyNeckInIt wrote: »

Hi DC,

Yes, a popular IP offering to supply 8 stamps to each of their customers completing an IVA, for the sole purpose of getting TMC to clear up credit files for next to nothing, was quite amusing.

Going off-subject, the equity release via remortgage vs secured loan has indeed been subject to a lot of recent heated debate on the subject on the other forum.

I shall post more on this subject soon on the 'Support and Discussion Thread'.

Hi

Yes, I have read a few threads over there

A few others have been doing their homework on the crucial and important issue for some IVAers of equity release and this 'introduction' of secured loans.

Strange really there appears to be a thread over there where a few points and questions raised by the CAB people who post on there seem to have gone unanswered or should that be sidestepped, I wonder if they will try again?

I wonder if some of the experts over there will ever come on here, they have had plenty of chances now however it is fair to say, so perhaps it will never happen:)

Just my take

UpToMyNeckInIt

...I think the problem is that some of the 'experts' you are referring to are simply not allowed to openly post on MSE, which is a great shame.

Depth_Charge

UpToMyNeckInIt wrote: »

...I think the problem is that some of the 'experts' you are referring to are simply not allowed to openly post on MSE, which is a great shame.

Hi

I can see what you mean to a certain extent.

Looking on the other forum at times however it does seem that there is 'sometimes' a fine line between posting and touting for business, marketing and selling even!

Mortgages and secured loans caught my eye of late on there regarding the above paragraph, but hey that is just my opinion.

Please don't anyone accuse me of detracting on the subject of the other forum as in my opinion there are some very experienced, knowledgeable and qualified people on there.

It is just my take again, 'tinted' with the usual harmless professional humour:)

UpToMyNeckInIt

Hi DC, you are quite right. It is a very fine line indeed, with some stepping over it occasionally. Most of the professional posters happen to include their website details in their signatures - not a big deal in my opinion. However, some forum members openly recommend specific IP's who post on that forum, albeit with genuinely the best intentions (and they seem to be very well-regarded companies), but it is something that personally I don't agree with.

Maybe suggest a shortlist of 5-6 Companies for a perspective customer to contact.

I think the IP's behave themselves in not openly touting for business, but the mortgage/loan providers/brokers posting there have in my opinion, on occasion said things like: 'If you need help getting a loan/mortgage, please contact me' which is not on.

...In exactly the same way that it should not be acceptable for the 'charities' to openly tout for business here on MSE, or to be favoured by this site's moderators. What some write about 'the private sector' in generalising terms is borderline libellous sometimes, whilst suggesting that the creditor-funded charities are 'impartial' is in the same measure, untrue. (Just my opinion, mind).

Personally, I like to hear all sides of any debate, from: Debt Charities, the CAB, and private companies, and make my own mind up.

savingjenny

what is this other forum??? I too like to see all sides of the debate!

UpToMyNeckInIt

I am not allowed to say (had my knuckles rapped by admin for doing so in the past).

If you google 'iva uk', the 4th (first non-shaded) result takes you there, as does following the link I posted earlier on this thread.