PPI Company rights

amanda7532

Hi,
I claimed PPI through a company back in 2013 and at the time the Clydesdale Bank refused any PPI but I got a letter yesterday directly from the bank offering me a fair bit of PPI compensation. I did not contact them.
Can the PPI company that put the original claim in take a cut of this money even though it is 3 and 1/2 years later...?

McKneff

You need to check the terms and conditions you signed.
I thinks its likely to be honest.
Did the bank say why ?

dunstonh

Can the PPI company that put the original claim in take a cut of this money even though it is 3 and 1/2 years later...?

No. If the bank volunteers to reopen a previously rejected complaint then the CMC cannot bill you against it unless it was through the actions of the CMC that got it reopened (and it never is but some CMCs are crafty and get people to sign another agreement a couple of years later).

If the CMC attempts to get money they are in breach of their regulatory guidelines. This scenario is exactly given in their rules.

Nasqueron

McKneff wrote: »

You need to check the terms and conditions you signed.
I thinks its likely to be honest.
Did the bank say why ?

Clydesdale were given a kicking by the regulator for their miss-handling of PPI complaints including staff deleting references to PPI before sending copies of data out or not bothering to look for old records and saying they had, fair chance they have simply reviewed the cases from the period and realised their mistake.

I'd assume the claims company will demand a cut as they raised the case, I'd keep the money in savings and not tell them and await a demand for payment.