Experiences with money back ppi?

Redcat453

Hi Everyone,

I wondered if anyone had an experiences with money backppi (dot) com? They seem to have the cheapest fee (at 15%) against all the other companies charging 25%+VAT and are no win no fee. Seems too good to be true?!

Any help would be great.
Many Thanks.

societys_child

Too good to be true eh?

If you have a complaint about PPI, simply contact the financial company concerned yourself.
Why pay a claims company to post a letter for you when you can post it yourself for the price of a stamp? Remember, you still have to provide all the details and reason(s) for complaint even when you use a claims company, they don't have any magical powers.

dunstonh

They seem to have the cheapest fee (at 15%) against all the other companies charging 25%+VAT and are no win no fee. Seems too good to be true?!

A 1st class stamp costs 63p and an envelope about 10p. The FOS form you can download and print or you can write a letter with about 4 lines of text. You then post it to the free of charge complaints address of the bank.

A CMC does the same as you. Posts it to the same address and but then charges you stupid money for it.

Redcat453

Thanks for the replies, the problem I have is that I don't know how many claims I might have or what the companies are called, so I have no idea how I go about finding this out. I did contemplate doing it myself but I have no idea where to start! and figured it might be a lot of time/ effort/ work.

Is there a template letter to contact your bank about old statements? can't seem to find one on here. That may be a good starting point if I can find out some old standing orders/ direct debits.

Nasqueron

Redcat453 wrote: »

Thanks for the replies, the problem I have is that I don't know how many claims I might have or what the companies are called, so I have no idea how I go about finding this out. I did contemplate doing it myself but I have no idea where to start! and figured it might be a lot of time/ effort/ work.

Is there a template letter to contact your bank about old statements? can't seem to find one on here. That may be a good starting point if I can find out some old standing orders/ direct debits.

One of the big myths about claims companies is that they have access to all this. If you use a claims company, you will end up doing all the work for them anyway as your financial data is not available in the public domain, so you would still need to remember all the organisations you had records with in order for the claims company to proceed.

A claims company will also harm your case as they will typically send off a complaint alleging all sorts of things (even contradictions like you didn't know you had it but also you were told you had to have it) and it destroys any credibility you have with the complaint.

Go to Noddle (not noodle) and register for free, and get the £2 statutory reports (or free trial) with Experian and Equifax and all your finance for the last 6 years will be listed on there which is a starting point. Otherwise look through your old paperwork or ring up the firms and ask them straight up. If they don't have any easily accessible records you need to send off DSAR (data requests) to the companies and ask for all their records on you - this will cost £10 a time.

Redcat453

Thank you Nasqueron, I will do that.

Insider101

Redcat453 wrote: »

Thanks for the replies, the problem I have is that I don't know how many claims I might have or what the companies are called, so I have no idea how I go about finding this out. I did contemplate doing it myself but I have no idea where to start! and figured it might be a lot of time/ effort/ work.

Is there a template letter to contact your bank about old statements? can't seem to find one on here. That may be a good starting point if I can find out some old standing orders/ direct debits.

The term "claim" is a misnomer used by unscrupulous companies. What you are talking about making is a complaint, i.e. an allegation that someone has wronged you. If you think that then all you need to do is contact the party you consider responsible and tell them what you think they have done wrong. Just like any other complaint.