Dh wants to try to reclaim ppi using company

durham05

Hi all, new to this thread my dh wants to try to reclaim ppi he's not even 100% sure he has had it.
So wants to use a ppi reclaim company as he sees it as whatever he gets is a bonus.
So here my question which company is the better to use & what% is normal and has any1 had a really good experience or bad?
is it safe to give them ur bank details to check stuff out, and how long does it take.
How far back do they go is there a limit
Sorry for all the question any help great fully received and tia.

dolphingazer

durham05 wrote: »

Hi all, new to this thread my dh wants to try to reclaim ppi he's not even 100% sure he has had it.
So wants to use a ppi reclaim company as he sees it as whatever he gets is a bonus.
So here my question which company is the better to use & what% is normal and has any1 had a really good experience or bad?
is it safe to give them ur bank details to check stuff out, and how long does it take.
How far back do they go is there a limit
Sorry for all the question any help great fully received and tia.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Have a good read of this link it will give you guidance on how to make a complaint yourself. PPI reclaim companies do no more than you can do yourself and take a hefty % of your money.

Try ringing the banks to see if you had PPI, they are usually helpful and will tell you.

dunstonh

Hi all, new to this thread my dh wants to try to reclaim ppi he's not even 100% sure he has had it.

So, as it stands your husband wants to make a complaint about a product he doesnt even know he had let alone how it may have been sold to him. What would his complaint be?

So wants to use a ppi reclaim company as he sees it as whatever he gets is a bonus.

That just makes it even worse.

So here my question which company is the better to use & what% is normal and has any1 had a really good experience or bad?

none of them. They are all opportunistic chancers who do nothing more than put a stamp on the envelope containing the same form (or their version of it) that you can post free of charge. Statistically, they are less likely to succeed than a personalised complaint too.

How far back do they go is there a limit

Claims companies rely on the information you tell them. So, it depends on your records.

WatchMan

dunstonh wrote: »

So, as it stands your husband wants to make a complaint about a product he doesnt even know he had let alone how it may have been sold to him. What would his complaint be?

Many people do not recall taking the insurance. This does not always mean that there is no mis-sale. It does, of course, weaken any argument based on what they say is a flaw in the sales process (which is already a weak argument).

In any event - there is no need to use a CMC. All they will do is get your signature, put some generic points on a form and send it to the bank. They'll see what comes back and if it isn't an offer, they will send it to FOS without a seconds thought.

Nothing you can't do yourself.

societys_child

Using a claims company is a mugs game as you still have to provide the information. Does anyone really want to pay them 30% or more of any redress when you can do it yourself for the price of a stamp or two? Crazy.

Of course anybody complaining about PPI when they didn't even have it . . that's crazy too . . .

liz3573

I'd like to post an alternative point of view. I used a PPI claim company as otherwise I honestly wouldn't have done it at all. I had absolutely minimal information "erm, maybe a loan with HSBC, taken out sometime between 1997 and 2000, possibly for approx £8,000???". I gave similarly vague data for another 5-6 loans. They told me what to say, I signed a few forms, then watched the cheques roll in. Yes they took 33%, but I got 66%. £8000 so far. Or I would not have done it at all. 100% of nothing is £0. I know this won't be popular!

WatchMan

liz3573 wrote: »

I'd like to post an alternative point of view. I used a PPI claim company as otherwise I honestly wouldn't have done it at all. I had absolutely minimal information "erm, maybe a loan with HSBC, taken out sometime between 1997 and 2000, possibly for approx £8,000???". I gave similarly vague data for another 5-6 loans. They told me what to say, I signed a few forms, then watched the cheques roll in. Yes they took 33%, but I got 66%. £8000 so far. Or I would not have done it at all. 100% of nothing is £0. I know this won't be popular!

If you're happy, then that's absolutely fine.

However the chances are you could have drafted a very simple letter to HSBC and perhaps filled in a FOS form and got the same result.

All the CMC letters tend to say is "we represent Mr/Mrs X. They feel they were mis-sold PPI because *list vague reasons*. Please pay up."

For that minimal effort, they have had £4,000(ish) of you.

There is nothing wrong with using them - but 33% of any redress is a lot for what is a 15 minute job and a walk to the post box.

liz3573

Thanks watchman. I agree with your view, but a quick look around this PPI forum demonstrates that unfortunately it's not always that straight forward. I am very happy with my £8000! I try to live a hassle-free life!