MSE News: PPI claimants told to contact card firms for refunds after CMC goes bust

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MoneySaving Newbie
PPI claimants may have lost £100s after handing over deposits to a Swansea claims management company that's gone bust...
Read the full story:
'PPI claimants told to contact card companies for refunds after claims firm goes bust – NEVER pay to reclaim PPI'

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'PPI claimants told to contact card companies for refunds after claims firm goes bust – NEVER pay to reclaim PPI'

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Standard model for this is that they take money up front. Do little or nothing for it, directors take the money out of the business and when money needs to be returned, it is no longer in the business. So, it folds. Directors move on to do the same again under a new name.
In July, it was reported that the regulatory regime was to be made tougher by transferring responsibility to the FCA.
In my opinion, it is surprising that MSE quotes the liquidator as recommending people claim fees back from credit cards. I wonder if the credit card firms will ask the liquidator and company directors where the money went.
I hope I've learned a lesson from this!!
Good luck everyone.
I've considered CMCs gits from the very start, I know their fees are clear and up front but my God it's been the easiest money any so called outfit could ever make - surely making millions, again denying you money that was wrongfully taken in the first place.
A colleague only paid £900 for his £2100 refund..... £900! All he had to do was fill in all the forms the CMC sent (like you do when you do it yourself), then answer any Qs over the phone (like you do when you do it yourself) and Bobs your Uncle. "£2100 is better than naffin mate" "yes but £3000 is considerably better than £2100..."