39% + vat reclaim fee

smithy1001

I was recently cold called by a ppi reclaim service. The third time I was called I thought ok, give it a go. Gave my details and left them to do their work. Fast forward six weeks and I receive a cheque from a well known bank for missold ppi. Today I received a call from the reclaim company asking for 39% plus vat for their services. Gulp! How is this not regulated, it’s as bad as the missold ppi I am chasing!
My wife has said to just pay it, learn your lesson and move on. Although I agree, and crazy not to read the t&c’s which are on the website but we’re obviously never mentioned or included in the paperwork. I guess I now have to pay the invoice. They have told me I have two weeks to pay or it will be given to the debt recovery team. The last thing I want is a damaged credit rating but is there any way to contest these fee’s? I have spoken to them but very unprofessional and rude.

[Deleted User]

smithy1001 wrote: »

Today I received a call from the reclaim company asking for 39% plus vat for their services. Gulp! How is this not regulated, it’s as bad as the missold ppi

Claims Companies are regulated

smithy1001 wrote: »

is there any way to contest these fee’s? I have spoken to them but very unprofessional and rude.

The time to "contest" the fees was at the time you signed your agreement to them, I'm afraid, not after you've already been awarded redress. The complaint process is simple and free, it was your own decision to use a claims company.

I'm no fan of Claim Companies, but I'm not surprised they are "rude" about your attempts to wriggle out of payment after you've signed a legally-binding contract!

[Deleted User]

They must have used gold plated stamps.

[Deleted User]

smithy1001on_another_thread_five_years_ago wrote: »

The company i enquired with wants 30 percent of reclaim.

You posted the above quotation in 2012, five years on you have apparently agreed to 39%??:eek:

https://forums.moneysavingexpert.com/discussion/comment/51789443#Comment_51789443

smithy1001

I am now going to cancel the other three claims they are trying to pursue. No doubt I will also get an extortionate invoice for that also, even though they haven’t heard back from the banks! It has been more than two weeks, so I lose my right to free cancellation.

[Deleted User]

smithy1001 wrote: »

I am now going to cancel the other three claims they are trying to pursue. No doubt I will also get an extortionate invoice for that also, even though they haven’t heard back from the banks! It has been more than two weeks, so I lose my right to free cancellation.

It will all have been included in the terms and conditions you have signed your agreement to.

You still haven't explained why you waited five years to do this?

societys_child

Gave my details and left them to do their work

"Their work" entails you filling the form and them posting it - 56p for a stamp!
Had you done your own "home work" and looked into into it, you'd have known this, it's all here on this website, how to do it yourself.

My wife has said to just pay it, learn your lesson

Your wife's right, at least take her out for a meal . .

[Deleted User]

societys_child wrote: »

Had you done your own "home work" and looked into into it, you'd have known this, it's all here on this website, how to do it yourself.

It was here five years ago when he asked too:
https://forums.moneysavingexpert.com/discussion/comment/51789443#Comment_51789443

smithy1001

In 2012 recovered the ppi expenses myself. The company I recently signed up to have obviously found one that I hadn’t persude. At least I have that to thank them for, and my bad for not reading the t&c’s as previously said.

[Deleted User]

smithy1001 wrote: »

The company I recently signed up to have obviously found one that I hadn’t persude.

Claims companies have no ability to "find" PPI, you must have given them the information in the first place.

smithy1001

Your wife's right, at least take her out for a meal . .

I have made dinner, that will have to do for now ��