PPI claiming for the first time

VWdriver

Good Evening,

I received a call from one of these PPI claim companies yesterday and actually entertained the call.

Over the past 13 years I have had numerous credit cards, finance agreements (motorbike, sofa's etc) and a nationwide mortgage.

I discussed all of this on the phone and went through a few things over the phone and gave them permission to check my history. They asked for me to authorise a £1 payment on my card to verify my identity which i was reluctant to but did so in the end.

They rang me back today saying they feel i have a few good claims and that they are happy to help me.

They then informed me that i would need to pay £495 up front and then 25% of any moneys received. They said I would get my £495 back regardless of any outcome.

I refused to go ahead and they said think about it over the weekend and then they will call on tuesday.

I do have an email sitting in my inbox from them asking for electronic signature but i have not signed this.

Where do I stand with all this now as it seems a bit much having to pay a £495 deposit?

Any help will be greatly appreciated.

dunstonh

They rang me back today saying they feel i have a few good claims and that they are happy to help me.

You do realise that they are talking BS there. They may check your credit file but that only tells you if you had credit and who with. it does not tell them whether you had PPI or not and also whether you were potentially mis-sold or not (if you did have it).

They then informed me that i would need to pay £495 up front and then 25% of any moneys received. They said I would get my £495 back regardless of any outcome.

However, a number of CMCs have failed with that model and the people that paid it lost their money.

Where do I stand with all this now as it seems a bit much having to pay a £495 deposit?

Lets put some context on it.
1 - checking credit record costs £0
2 - filling out FOS form to send to firm costs £0
3 - posting it to the firms costs a stamp (multiple firms but thats only a few pounds)
4 - the complaints process is free of charge to use.

So, is it worth paying £495 for that? Plus, 25% of any redress payable and that is vatable at 20%.

VWdriver

Thank you for you reply Dunstonh.

Yes it all sound like total BS and too good to be true.

I'm keen to try and claim myself but cannot for the life of me remember exactly who I had finance and credit cards with over the years.

2 questions -

Where can I check my credit file myself?

Have this claims company entered me into any contract even tho I haven't signed anything? The £1 card transaction verification worries me?

Thanks

[Deleted User]

VWdriver wrote: »

The £1 card transaction verification worries me?

It would worry me too.

Get in touch with your credit card company and cancel.

dunstonh

Where can I check my credit file myself?

https://www.noddle.co.uk/

Have this claims company entered me into any contract even tho I haven't signed anything? The £1 card transaction verification worries me?

No. No contract is complete until you sign it or use the electronic sig in the email. However, email back to them saying you do not wish to proceed.

Welshie28

As someone who works for a claims management company, NEVER pay any company upfront. It's illegal. To find out who previous finances were with either check your credit report (Noddle as it's free) or have a look if you have any old paperwork hidden away.
Good luck!