ppi charges

masmas73

hi , I have just had payment of £1400 for a ppi claim ,the company that I went through charge 40% including VAT, making their cut £560 or so I thought! the settlement was £1580 less £180 to the taxman but this company has took 40% of £1580 making there cut £632! I think this was unfair, any thoughts?

dunstonh

I think this was unfair

I think paying 40% plus VAT to someone to put a stamp on the envelope containing your complaint to the free of charge complaints process is unfair.

You get billed on the gross redress payment. So, they are correct.

First you get mis-sold PPI. Then you get mis-sold claims company..... You really need to be careful what you sign up for in future. Especially on cold calls.

masmas73

lesson learned the hard way ! thanks for the reply.