Made successful PPI claim. A Now Claims Company saying I could get more money?

skyscraper101

Hi, looking for advice.

I successfully made a PPI claim myself last year against Barclaycard and Morgan Stanley (now owned by Barclaycard). Received a payout of I think around £840ish - I thankfully kept a lot of statements dating back to the 90s so it was fairly cut and dry.

However since then, a few claims companies have been in touch and said I should pursue a new claim with them because it's been revealed many CC companies haven't been paying out enough.

I don't know if this is true but I'm loathe to start going through the process again myself. It took ages at the time battling with Barclaycard and sending letters back and forth, and I don't know how I would pursue a follow-up claim saying I think I should get more money now, for fear I'd just be fobbed off. Plus how do I even prove I should've got more money? So this time I'm inclined to let a company do the legwork and if they can get me more money, then great. Albeit it'll cost me 20%, but at least I won't have wasted my time.

The latest claims company to be in touch are a company called 'Help Your Claim Ltd.' - I've gone through a whole telephone Q&A with them, and told them I've already made a successful claim independently, but they still seem to think I should let them have a go. They followed up and followed up, and I have a docusign thing to send back to let them get on with it, but before I do this, I want to check in here to see if this is a mistake.

Is there any reason why I shouldn't just let them try their luck? Has anyone ever heard of credit card companies not paying enough in successful claims? I've got actual statements proving I paid PPI. I've already received a payout. Thanks in advance.

[Deleted User]

skyscraper101 wrote: »

Is there any reason why I shouldn't just let them try their luck?

Yes.

One because they're lying, and two because they're probably devious enough to charge you a fee when the lender tells them you've already put in your complaint.

It'll be quicker to just chuck £500 in the bin.

skyscraper101

Deleted_User wrote: »

Yes.

One because they're lying, and two because they're probably devious enough to charge you a fee when the lender tells them you've already put in your complaint.

It'll be quicker to just chuck £500 in the bin.

Why? Have claims companies got form for this? I have explicitly told them numerous times over the phone that I have already pursued a successful claim.

Yet they are saying, I could be owed more? Is that true? Have CC companies been known for underpaying?

[Deleted User]

skyscraper101 wrote: »

Have claims companies got form for this?

Claims companies only lie on days that end in Y.

Yes, they have form for it. They want your details and you'll be passed around the suckers list so others can make some cash out of you.

dunstonh

Claims company cold callers are on targets to get people signed up each week. It is somewhat ironic that their methods are similar to what went wrong with the banks.

That staff member that gets you to sign up gets another notch on the board, even if it goes nowhere, meaning that they get to avoid being the one with the lowest number that week.

skyscraper101

OK so just to be clear, there is no evidence that anyone knows of - that credit card companies have been underpaying on successful PPI claims made individually without the use of a claims company?

And I should definitely not look into whether I was underpaid, and anyone who cold calls me is a timewaster, despite knowing that I have already made a success claim.

And £840ish payout for two cards which I have proven with actual statements which had PPI, is about right, so I should just leave it now right?

Browntoa

Yes , just leave it

-taff

There is no evidence that credit card companies routinely pay out less than they should.


Redress is defined. There is no arguing or haggling about it. they have paid you what they owe you.


Claims companies will say anything to get you signed up because even without a successful complaint, they'll still bill you for 'admin' work performed.

dunstonh

OK so just to be clear, there is no evidence that anyone knows of - that credit card companies have been underpaying on successful PPI claims made individually without the use of a claims company?

None. A couple of banks were instructed to go back on old complaints and review decisions. This is happening automatically and on a pro-active basis (i.e. you do nothing and the bank will let you know if you are getting more). If you happen to be on that list, you will get contacted and paid. If you sign up with a CMC and you are on that list, the CMC can take a cut despite doing nothing. This was mainly affecting loans.

And I should definitely not look into whether I was underpaid, and anyone who cold calls me is a timewaster, despite knowing that I have already made a success claim.

Correct. It just avoids the cold caller being sacked this week or facing the forfeit.

And £840ish payout for two cards which I have proven with actual statements which had PPI, is about right, so I should just leave it now right?

A refund of premiums plus interest. The calculation is set by the FCA.

skyscraper101

-taff wrote: »

Claims companies will say anything to get you signed up because even without a successful complaint, they'll still bill you for 'admin' work performed.

For real? So claims companies are actually pursuing claims against the very people they're claiming to be aiding now?

Is this a well known thing? I haven't heard of it.

I'd assumed it was like a no win no fee arrangement, and I was quite happy for them to waste their own time if they wanted to try and get some more money for me, despite my telling them repeatedly that I'd already made a successful claim.

Why is this not more widely reported? This is the first I've heard of 'admin fees' being chased from unsuccessful claims against the claimants.

[Deleted User]

skyscraper101 wrote: »

For real? So claims companies are actually pursuing claims against the very people they're claiming to be aiding now?

You make it sound as if the claims companies are meant to be on the customer's side.

They don't 'aid' anyone apart from themselves.