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Am i being cynical
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greenbrucelee
Posts: 305 Forumite
in IVA & DRO
Creedo claims and payplan received ppi from the Clydesdale last week. Creedo say it could be weeks before i get my share. Am i being cynical in thinking they are making money from the payment instead of paying it out?
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No. They're already charging you 25% plus VAT from selling you a stamp.
They'll be more than happy with that.0 -
how come it takes so long then?
The passed to the payments team on Thursday. And I actually did all the chasing with the Clydesdale it took 3 years for them to admit I existed.0 -
Because Claims Companies are not exactly skilled in anything. They buy stamps, post forms and then send out the admin when they get around to it.0
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its a pain that I actually had to use them I could have done it myself but its part of the payplan thing.0
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greenbrucelee wrote: »its a pain that I actually had to use them I could have done it myself but its part of the payplan thing.
Not true, you could of sent a letter yourself and saved there 25% fee, plus all the hassle.
Payplan are talking rubbish.
Claims management companies profit only from greed !!!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
There’s actually an MSE Guide to PPI claims for anyone else wanting to do it themselves.
www.moneysavingexpert.com/reclaim/ppi-loan-insurance
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
I had Creedo on my back during my paypal IVA. I told them I had never taken any PPI EVER (I knew it was a scam 10 years ago). Anyway they insisted I fill in and sign all the forms and for all their hard work a princely sum of £13-75 was returned to my creditors so I assume they got 40% - 11 quid??. I still have no idea how they even got that bearing in mind I had never paid for PPI
I'm just happy it likely cost them more to do the work :-)0 -
Well I just found out that even though clydesdale paid the cheque to creedo claims apparently it has to go through several holding accounts and then clear in payplans bank before I get my share. Apparently this can take 12 weeks however if I haven't heard anything after 4 weeks I should phone.
So my take on this is that they are making money from it or the process just takes far too long.0
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