Ppi

loubell

Right i was speaking to someone in work today whos wife used a claims firm Consumer Refund Service based in the newcastle area,i know how people feel on here about these companies and i myself think she has been conned but i have to ask has anyone ever heard of them.She told him she got a letter and phoned them wanting to know where the got her address then the woman convinced her to try and claim saying she had nothing to lose and saying the fee would only be 25% :eek: So she has received a letter yesterday saying yes she was missold it all the way from 2001 and the fee was 25% but the conveniently missed out the plus 20% vat.Any one have any opinion on what she should do next i dont know if she has entered into an agreement with them because she hasnt sent the letter back but did send one a month ago authorising them to claim.Lordy.

Nasqueron

If she has signed a contract she's pretty much stuffed - they will charge her a lot to break it especially if they know she has PPI - it depends if they were given authority to check with her financial providers or are just speculating

loubell

I think they said she was sold it so she must have silly mare....i guess she thought she would have any but that vat bit wow they are conmen i just wonder if anyone else has come across them on here.

[Deleted User]

To be fair, there is no "con" here.
The fee maybe 25% and expensive enough, but VAT goes to the government and is totally separate.

loubell

Heres the thing i dont get how do you get ppi with a credit card i mean surely you would notice and if she has had it that long is it a feww hundred or thousands all her letter says is you have been missold it!

[Deleted User]

Has she actually signed up to this company yet?

If not, I'd back out now.

Sounds like they are simply saying they think the PPI was mis-sold,-not that it actually was...

loubell

i phoned and asked apparently she did authorise them at the start to do a search and now this letter says if she goes it alone now and the bank pays her directly that she will still be liable to pay their charge as she signed the first letter or some other.So i think she is goosed now in that repect,The latest letter says that if it is less than a thousand that they waive their fees,i just cant see it being much with a credit card though with a heavy bank loan maybe if you know what i mean.

[Deleted User]

If the complaint is successful, the redress amount will be a refund of whatever she paid, so there is no way for anyone here to guess how much that might be.

Since the Bank have yet to be sent any complaint, it's also impossible for the Claim Company to state that you will get anything at all. They do not adjudge whether it was mis-sold, the Bank do.

Read carefully the terms of the first letter of authority, if this forms a contract then you have to abide by it and pay them their fee..

adam_adam

if the authority has gone back she would have signed it meaning she's entered a contract.
she'll legally bound to pay the fee's now if they reclaim money unfortunately.

loubell

Sorry if this reply is a bit late,friend just got a text from her bank saying the have reached an outcome and have sent her a letter detailing their investigation.Obviously she has not received the letter yet but i dont think that sounds too good,is this normal practice with these guys.She is with the RBOS.

magpiecottage

Again, there is no way of knowing without seeing the documentation.