Ppi panic!!

[Deleted User]

Do check carefully what you actually signed back in May.

brettcta

Aaronsmum wrote: »

Thank you Moneyineptitude, I wasn't sure of the terms.. thought the original signing was for them to investigate if I had ever paid any PPI and this latest paperwork was to give them permission to act on my behalf to make the claim once it became clear that I had. I hadnt realised I had already done that back in May. I cant complain about them taking their 25% anyway as they have put time into it but it will be annoying if it's a large amount when I could have done it myself. They also confirmed they wouldn't be asking for an upfront fee, which would not be reimbursed in the event of the claim being unsuccessful. I was concerned having read about this.

Lloyds were apparently finding it difficult to locate my accounts (this going back 1992-2006) hence the delay. Should take the 8 weeks now they have all the details.

Thanks again, your input has been very helpful.

They haven’t put much into it for their 25%, they’ve literally sent your details on a spreadsheet to your bank with thousands of other mugs who they’ve managed to convince to let them ‘act’ on their behalf. You’ve done more work then them.

Aaronsmum

I could kick myself. I'm almost hoping it's a miniscule amount so the loss isn't too great! Lesson learned. Lloyds rang me yesterday asking for more details from when I put my claim in directly with them (thinking I could cancel). I explained the situation and they wanted to continue with my own claim as they hadn't heard from Action Direct yet. I could do with some legal advice as to whether the second signing acts as a continuum, meaning the start-date point for cancelling becomes the original May one or whether it is a new contract which can be cancelled. It would mean paying a solicitor though when I may not be successful and even then it could be peanuts.

Aaronsmum

Oh and it's 25% plus VAT

[Deleted User]

Aaronsmum wrote: »

I could do with some legal advice as to whether the second signing acts as a continuum

You'd already signed the contract before posting here. Claims Management Companies have watertight contracts that are not easy to wriggle out of and taking "legal advice" will therefore likely be an (expensive) waste of your time.

Aaronsmum wrote: »

Lloyds rang me yesterday asking for more details from when I put my claim in directly with them (thinking I could cancel). I explained the situation and they wanted to continue with my own claim as they hadn't heard from Action Direct yet.

I'm afraid that if you do continue with your "direct claim", Action Direct will still bill you for the full 25% (plus VAT) of any redress you may be awarded. Read your contract, AD are now legally your representative in any PPI complaint. Basically, you can no longer complain alone.

Aaronsmum

I really appreciate the above comments as it's put my mind at rest that there's nothing I can do so it's one less thing to have to think about. It makes sense it would be watertight. I'll not return the form Lloyds are sending me. Should I let them know I'm not proceeding with my own claim?

[Deleted User]

Aaronsmum wrote: »

Should I let them know I'm not proceeding with my own claim?

No point, but do chase the claims firm because the complaint process really should not be taking so long.