Is it too late??

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I recently agreed for a firm to check PPI on my behalf - I gave them all my details and signed the forms etc... I never thought I had paid PPI but low and behold they tell me i have a claim!

Now.. is it too late for me to go off and claim this money by myself and avoid paying the firm? Or am I tied in to them having signed their agreements? Help!!!

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  • Nasqueron
    Nasqueron Posts: 8,998 Forumite
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    I recently agreed for a firm to check PPI on my behalf - I gave them all my details and signed the forms etc... I never thought I had paid PPI but low and behold they tell me i have a claim!

    Now.. is it too late for me to go off and claim this money by myself and avoid paying the firm? Or am I tied in to them having signed their agreements? Help!!!

    If you signed their agreements and they know you have PPI I doubt they will let you off the contract
  • Nickyhumphrey
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    That’s what I thought. But what if I just ignored their calls.. would they still process the claim and keep all of the money?!
  • societys_child
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    If you signed a contract with the CMC and they are now acting on your behalf, then any recompense they obtain for you, will be sent, by the bank, to you. The CMC will be informed of the payment, and will send you their bill.

    Note that one thing the CMCs are very good at, is extracting their pound of flesh. They wont let you off the hook!
  • dunstonh
    dunstonh Posts: 116,596 Forumite
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    edited 10 April 2018 at 3:46PM
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    If you entered into a contract then they would pursue you for money owed. Using the courts if necessary.

    This is jumping the gun though. All the CMC has done is found you have a PPI policy. Not whether it was missold or not.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Nickyhumphrey
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    Thanks everyone. I have dug the papers out and it seems I am def tied in and they will get money out of me one way or another!
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Thanks everyone. I have dug the papers out and it seems I am def tied in and they will get money out of me one way or another!
    Only if your complaint is successful, of course...
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