Penguin Finance PPI CMC

xHannahx

How did they do their initial check? They won't have access to lenders accounts, and wouldn't be able to obtain information without your authority to the lenders.
When these CMCs tell people they are due money back on an initial check, they actually don't have a clue.
Definitely do not pay up front, and if you insist on using a CMC find one with no win no fee terms and no upfront fees.

RH577

Penguin finance made the same promises to me via a cold call, I was told that the claim would be completed in 90 days and my £499 would be returned on completion of my claim, the £499 would, they told me be fully refunded and was security for them getting their 25% commission on successful claims as any successful claim refunds had to be paid directly into my bank account.

Here I am 1 year later trying to get my £499 back being lied to and fobbed off by penguin who now say their fees are £399 + commission +VAT, Stay well clear. I did get a small refund on mis sold bank products (packaged accounts) but was charged 30% + Vat so I am at the moment over £600 out of pocket. Believe me its not worth the trouble.

MostlyConfused wrote: »

Hello

I have today had a cold call from a company saying that they might be able to reclaim some money on my behalf.

I know that from a claim amount point of view it would be better to do it myself but for one reason or another I don't want to do it that way,

The company identified themselves as Penguin Finance and I have been able to find that they are registered with the CMR so they are at least a little bit legit.

They have done a basic check and say that I am due some money back. They take 25% once the money comes to me (by invoicing me), but they want a £499 payment before they will progress. They have sent me an agreement to sign by email but I have yet to do that. I am told that once I receive my money and pay their invoice the £499 will be returned to me.

It seems like if its all true it could be good but the £499 payment rings alarm bells.

Does anyone have any dealings with this company that can provide me with a bit more information about them?

Hope you can help

M.Confused

magpiecottage

You should make a formal complaint to Penguin Finance.

If the response is not satisfactory then go to the Legal Ombudsman.

anniedog

I have just spoken to SMS Legal to have advised no PPI monies are due and referred me back to Penguin to have my £499 refunded back to my Tesco credit card.

They gave me a phone number 0333 4432773 no answer I looked back through my emails and found another 0843 886 4911 recorded music and option to leave voicemail.

oh god .....

have googled complaints for Penguin details if required ....

never again!:mad:

magpiecottage

I would refer you to my answer above about complaining.

stu1001

anniedog wrote: »

I have just spoken to SMS Legal to have advised no PPI monies are due and referred me back to Penguin to have my £499 refunded back to my Tesco credit card.

They gave me a phone number 0333 4432773 no answer I looked back through my emails and found another 0843 886 4911 recorded music and option to leave voicemail.

oh god .....

have googled complaints for Penguin details if required ....

never again!:mad:

i had an email from them at the beginning of November confirming i was due a refund and that i would receive it on the 1st Decemeber.... despite lots of emails and phone calls, i still havent had it

magpiecottage

With a name like that, you might want to take Batman's advice.

Helenelizabeth

I too was fooled by the authorisation on the govt website. If you check again you will see 'authorisation suspended'. I was told in September I would be refunded on 9th November. It didn't happen so I phoned again and was told Penguin Finance had ceased trading but refunds were being processed and I would receive a cheque by mid December. Not surprisingly - no cheque! I phoned again and was still reassured I would receive a cheque and advised to phone again after the Christmas break. I have just phoned and got and answer machine. I have left a message but not holding my breath! ��

magpiecottage

Helenelizabeth wrote: »

I too was fooled by the authorisation on the govt website. If you check again you will see 'authorisation suspended'. I was told in September I would be refunded on 9th November. It didn't happen so I phoned again and was told Penguin Finance had ceased trading but refunds were being processed and I would receive a cheque by mid December. Not surprisingly - no cheque! I phoned again and was still reassured I would receive a cheque and advised to phone again after the Christmas break. I have just phoned and got and answer machine. I have left a message but not holding my breath! ��

Go to the Legal Ombudsman now.

lperry0

AVIOD Penguin Finance! AVOID Buzz Claims! DO NOT PAY UPFRONT FEES FOR PPI CLAIMS!!!!!! EVER! My story below!

I too have been caught out by 'Penguin Finance'. I paid an upfront fee back in July of over £500 for them to reclaim PPI money owed to me. I have never taken out PPI but they convinced me that my mortgage life insurance was a form of PPI. I stupidly went through with it and paid the upfront fee. Within 2 minutes of hanging up the phone I realized how stupid I had been so I called my credit card company to cancel the payment. Unfortunately it had already gone through - very quick!

Any how's. I thought I will sit back and see how it goes. I was getting regular correspondence from a company called SMS Legal. They were easy to get hold of and always gave me updates on my claims. This put my mind at ease a bit. However! In December, I got an email from SMS legal saying that my claims were unsuccessful. I must contact Penguin Finance for my refund. I have been trying to contact them time and time again. I gave up on phoning them so tried their email address. Now I did eventually get a response from them saying that my refund would take 30 days and my refund would be paid to me on 4th Feb 2016.

The 4th of Feb came and still nothing. I decided to raise a complaint with my credit card company to see if they could help chase the money (in progress) and have also raised a complaint with the financial ombudsman (awaiting response).

Today however - I tried calling the number that SMS legal gave me again: 0333 443 2773

This time someone actually answered! I thought I was actually going to get somewhere but after giving them my reference number the girl told me a cheque would be issued within 30 days! I said that I had already been told this (by email) and that my refund was due on 4th February 2016. She asked me if it was Penguin finance who took the money to which I replied "yes". She told me that the company she was working for has since taken over from Penguin finance. When I complained about the 30 days wait for my money, she told me that she will ask her manager to call me. I am currently waiting for that call (very doubtful!). So that is where I am. Out of pocket, chasing around for my own money with little hope of seeing it again. Only myself to blame for being so stupid in the first place!

DO NOT PAY AN UPFRONT FEE FOR PPI!

I had another company ring me the other day - where it says press 5 to claim your PPI! I pressed 5, went through all the motions with them then told them to ram it! Explained that I have already been scammed by this and that they should be ashamed of the selves and get a proper job! This company was called Buzz Claims: (They come up on Google) ALSO Avoid! They will tell you that they are registered with the official government website and that they are 100% legit but I heard all of this from Penguin Finance! I really hope someone catches the people in charge of this operation! Criminals! Avoid at all costs no matter what you are told!