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At what point are you contracted and have to pay the fee?
Apcar1970
Posts: 3 Newbie
Hi, I completed one of the claims company forms to make an initial search to see if I had any PPI. They have found that I had PPI with some bank loans and store cards that I wasn’t aware I had. Do I now have to continue with the same firm or can I switch? If I get some money back will the initial claims company and/or the next company be able to claim their fee?
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Having to pay both could be a possibility.0
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If you did not sign anything to allow any of the claims co to "work" for you, I say "work" very loosely, as all they do is post your form to the banks with the information you gave and then charge you £x plus Vat.
You do not have to pay them if you did not sign anything, if you did, then you have to pay.
Why would you use another company and pay?, reclaiming should only cost you a stamp or a telephone call to the financial institutions you had PPI with.
If you now know the bank/s due to the claims co, contact them yourself, it is a no brainer.0 -
How many claims companies does it take to buy a stamp?!0
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More than one it seems
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I would imagine the OP simply wants to switch to a cheaper CMC, but should be aware that the complaint process is simple and free. No one needs to pay any third party.
Free is very cheap.
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The claims co. located the lenders that I had PPI with. I signed a form for them to carry out the check. If I now proceed on my own and recover money will I still have to pay them? Should I send a letter terminating the business relationship with them?0
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The claims co. located the lenders that I had PPI with. I signed a form for them to carry out the check. If I now proceed on my own and recover money will I still have to pay them? Should I send a letter terminating the business relationship with them?
Now they have a sniff of the potential cash I'd expect a large bill if they let you cancel with the intention of going aloneSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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