Consumer Refund Service

Bex2

Hi

I've been faffing about for ages over whether I should look into reclaiming PPI or not. I've read all the advice about doing it myself, but it feels like a hugely daunting task because I've had so many credit cards/store cards over the years and I can't remember exactly what I had with who. I even started filling in the paperwork for some of them, but became overwhelmed with not remembering whether or not I was pressured into buying PPI.

My question is, if the alternative is doing nothing, how bad is it to use a company? A nice easy form has just arrived in the post from the Consumer Refund Service. I can handle that, but I'm not sure I will ever manage a full DIY claim (and if I do, I'll be worried that I've missed something).

Can you ever get into real trouble by using one of these companies? In other words, what's the worst that can happen?

Grateful for your advice.

Nasqueron

Bex2 wrote: »

Hi

I've been faffing about for ages over whether I should look into reclaiming PPI or not. I've read all the advice about doing it myself, but it feels like a hugely daunting task because I've had so many credit cards/store cards over the years and I can't remember exactly what I had with who. I even started filling in the paperwork for some of them, but became overwhelmed with not remembering whether or not I was pressured into buying PPI.

My question is, if the alternative is doing nothing, how bad is it to use a company? A nice easy form has just arrived in the post from the Consumer Refund Service. I can handle that, but I'm not sure I will ever manage a full DIY claim (and if I do, I'll be worried that I've missed something).

Can you ever get into real trouble by using one of these companies? In other words, what's the worst that can happen?

Grateful for your advice.

Your finance data is not public, a claims firm will simply ask you to remember who you used and then send in the complaint (or possibly try and send a complaint to every major firm and hope something sticks).

It's really not worth using a claims firm, they harm your chances of success by using generic templates full of generic stuff which may not even apply to you which gives the company an easy rejection (e.g. if they claim you were told you had to have it to get the finance but you were actually sold it later via the phone).

As I'm sure you've seen, the complaint form is really simple, so just fill it in and post if off to the bank directly. A claims company has no magic powers and more people win complaining directly than via a firm

dunstonh

but it feels like a hugely daunting task because I've had so many credit cards/store cards over the years and I can't remember exactly what I had with who.

A CMC wont be able to tell you that either.

My question is, if the alternative is doing nothing, how bad is it to use a company?

Largely pointless. If you cant remember who you had PPI with or whether you were missold OR that you cant remember who your lending was with then how would the claims company know?

Can you ever get into real trouble by using one of these companies? In other words, what's the worst that can happen?

Worst is probably if the debts were in arrears, defaulted or written off. However, if that doesnt apply then the worst is likely the feeling you will get if you get a large refund of premiums and the CMC bill goes into many thousands of pounds all because you didnt put a stamp on the envelope yourself.