CMC or DIY

Pelepeg

So I know the general advice is not to use a CMC and to DIY.
BUT.....I've been about to do this for ages, years possibly and still not got around to it so having had a call the other week I thought why not let them do it? They get some money, I get more money, and certainly more than I would left to my own devices!

Then, I watched Martin on TV, and realised I shouldn't have paid anything up front so cancelled (was within the cooling off period) to look around for someone who didn't. They wanted to charge £599 upfront, then the standard 25%+VAT on the final amount.

Anyway....bear with me......they called me today. Seems they are keen to keep my claim. They have now offered to cut the final fee to 12.5% including VAT. Seems like a good deal to me. They did the usual 'we can do it faster and more thoroughly than you' speech (which I took note of and completely disregarded as BS). They claim the £599 is for the charges from the banks etc to go through their archives. That's the SAR template on here right? It also covers their admin fees.

So, what do you all think? I'm like many others in that I don't have details of old accounts other than company name. I also don't have the energy to trawl through the loft to find old bank statements that might have the details on. Do I take their offer or DIY?

Thanks

amersall

They cannot do it faster than you that is rubbish.

The banks do not charge £599 to go through the archives!!!!! that says a lot about them.

They should not be asking for an upfront fee, you need to report them, make sure they have refunded you.

If you know the institutions you had PPI with and have good reasons for mis sell, contact them yourself, a phone call will suffice initially.
If you get no joy then you can do a Sar for each one, this is £10 per bank.

If you need any help just ask us.... FOR FREE, just in case you did not get that the first time ......FOR FREE

Nasqueron

CMCs are a bunch of liars

They promise you the Earth and you have to do all the work and they just post the letter off and then bill you

PSW

You do realise it probably took you longer to type your post on here then it would do to make the average PPI complaint.

amersall

Spot on PSW .

Pelepeg

PSW wrote: »

You do realise it probably took you longer to type your post on here then it would do to make the average PPI complaint.

Haha, yes, I guess you're right.


Thanks everyone. I suppose I knew this answer anyway, but you've made me determined. This year I will change my financial life around and it starts today.

good-samaritan

I would always try a DIY complaint before calling in a "hired hand", unless you really do not have the time or appetite to do it yourself.

NEVER pay any upfront fees to a CMC - a reputable one will never ask for such a fee and you should report any that do to the Claims Management Regulator 0333 200 0110. A reputable CMC will only charge a success fee - so if you do not get paid, they do not get paid.

The ease and success of your DIY claim will depend on who you are claiming against. If it is a High Street Bank, then you have no difficulties going back indefinitely as the bank will always have responsibility for the sale. If it was not a High Street Bank then you may encounter difficulties should the sale have been before 14 January 2005. Make your complaint to the PPI Seller first and then see if the firm accepts responsibility and runs the claim. If they do not accept the claim or reject it unfairly in your opinion, then post seller name, lender name and date of sale on here and I will tell you where to re-direct your complaint to so it is accepted (if it is possible) or just use the free FOS if that route is indicated.

Nasqueron - before you start accusing me of touting again - please read the above repeatedly until it becomes evident that by openly posting information on this site for all to see freely, I cannot possibly have any commercial benefit. My PM has always been and will always remain switched OFF. I wonder if the real Robin Hood had the same problem when he started to hand out free cash to the masses - a bit more trust please Nasqueron - until I give you the slightest reason not to - then you can slaughter me and smugly announce to MSE world that you were right after all.

Insider101

From my experience, the legitimacy of the regulated complaints system has long been lost amidst all the ambulance chasing blackmail artists. But for those who have a legitimate complaint (i.e. they are dissatisfied with a wrong which they believe to have been done to them and wish for it to be put right), there is zero reason to ever use a CMC. They do nothing that you can't do by popping a short letter in the post, or even making a phone call.

takman

good-samaritan wrote: »

I would always try a DIY complaint before calling in a "hired hand", unless you really do not have the time or appetite to do it yourself.

So explain to us all how using a CMC will save anyone time or being any easier?. You still have fill out the same information onto forms and then post it to the CMC. If you do it yourself you just send forms directly to the insurance seller.

So it saves no time and is in no way eaiser.

societys_child

good-samaritan wrote: »

NEVER pay any upfront fees to a CMC - a reputable one will never ask for such a fee

Sorry, that made me laugh . . .

[Deleted User]

good-samaritan wrote: »

NEVER pay any upfront fees to a CMC.

Never pay any fee to anyone at all. The complaints process is simple and free..