PPI Fees... Do i still need to pay them?

zetecshearer1987

Hi

I put in a ppi claim in over 3 years ago thinking i was wronged with some new ppi payments that appeared on my credit card, only around £50, so i contacted gladstone brooks in relation to my credit card...

The appeal got rejected and that was that.

3 years later and today i got a letter from barclaycard saying that they have reviewed my case and awarded me my ppi back, which nearly totals £1500. (hey I'm not gonna argue)

Now i have had no contact with gladstone brooks since mid 2011.

Do i still need to pay this company the fees as they haven't really helped me reclaim this money back tbh, is there a time limit or will i have to pay them the 25% that is on their website.

My letter from barclaycard does state that they have forwarded my successful claim onto them, but they will pay me direct.

Any ideas

magpiecottage

You will have to pay them 25% of £1500, which is £375. You will then pay 20% VAT on £375, which is another £75.

So £450 to put a stamp on an envelope and pop it into a post box.

I would have done that for you for £50 if you had only asked.

zetecshearer1987

Thanks for the swift reply, can't believe this still stands even after 3 whole years of nothing. should have researched more before using these tv companies.


Surely not, they have not really helped me at all between that period

zetecshearer1987

I also assume that gladstone will now contact me or do i have to chase them, since speaking to them 3 years ago i have moved house i they have no details of my new address unless my bank provides that to them.


Plus its barclaycard who have sent me the results and nothing from gladstone brooks.

[Deleted User]

magpiecottage wrote: »

I would have done that for you for £50 if you had only asked.

I would have charged 50p!:D

(Not really, the complaint process is simple and free-no one should pay anyone anything in order to use it)

Alpine_Star

zetecshearer1987 wrote: »

Hi


The appeal got rejected and that was that.

If Gladstone Brookes notified you that your PPI complaint was unsuccessful and didn't take the complaint to the Financial Ombudsman, you might be able to argue that your contract with them was terminated by them at that point. But it would depend on the language in the notification and the termination terms in the contract.

welshgasman

The chances are that Barclays will have sent a copy of your FRL to Gladstone, so they will have your new address and if so I would expect them to contact you for their kilogram of flesh.

magpiecottage

Moneyineptitude wrote: »

I would have charged 50p!

Then the OP should use your services because it costs 53p to send a letter themselves.

I fear, though, that your business model is flawed.

[Deleted User]

welshgasman wrote: »

The chances are that Barclays will have sent a copy of your FRL to Gladstone, so they will have your new address and if so I would expect them to contact you for their kilogram of flesh.

The other thing the Op should note is that the CMC's bill might not be forthcoming for months, so I don't recommend the redress is too quickly spent. Put aside the amount of the CMC's cut so as not to be caught out later.

Insider101

zetecshearer1987 wrote: »

I also assume that gladstone will now contact me or do i have to chase them, since speaking to them 3 years ago i have moved house i they have no details of my new address unless my bank provides that to them.


Plus its barclaycard who have sent me the results and nothing from gladstone brooks.

If they have been sent a copy of your offer letter then they will contact you. As has been pointed out earlier this will have you new address on it. Even if not, they may have been notified of it by over means (a lot of banks now have arrangements in place with some of the bigger CMCs, of which GB are one, which negate the need for actually sending paper copies). In this instance you can expect them to use all sorts of methods (electoral register etc..) to try and trace you.

Basically, you are probably best contacting them and asking their view. If they want the money then maybe you could negotiate a reduced fee on the grounds that they effectively failed in their job and it was only as a result of the banks proactive cold case review that you got the the offer (did they refer your case to FOS? If not, you could argue that this was negligence on their part since it now appears the complaint was considered valid).

Their argument will be that if they had never put the complaint in to start with then you'd never have got the redress. If you're up for it, you could make a formal complaint to them that you do not consider it fair to try to charge you when they failed in their job and if they do not agree to waive the charge you will contact the legal ombudsman (who take on complaints against CMCs from the end of January 2015). Bearing in mind that the case fee alone is about £400 they may just give up at that point. There's a certain poetic justice about using the ombudsman as a blackmail tool against CMCs which have been doing the same themselves since the inception of the PPI scandal.

Whatever you do, don't just spend the money then when they come asking for it in a few months come on here crying that you haven't got it, in the way that so many do. You need to address the issue one way or the other.

BorisThomson

Jskclaims wrote: »

You will have to pay 10% of £1000, You will then pay claims fees 20% VAT on £375, which is another £75.
I would have done that for you for £50 if you had only asked.

I wouldn't trust someone that drags up a post from 2014 to do anything with my finances!

Now please stop spamming the forum.