LLoyds & Claims4you

smith81

Hi,


I have an interesting situation here, as I went to Claims4you with a PPI claim about 6 months ago with Lloyds TSB. The claim was in process and with Lloyds for action but I received communication from Claims4you that they no longer have their FCA certificate from 1st April so would recommend I continue my claim with Goodwin & Principle.


Here is a timeline of events.


3rd April - Claims4you contact me about situation and recommend I continue with Goodwin over the phone. I ask them to send me the papers and I would, sign and return to Goodwin.


7th May - Lloyds send me direct communication that as Claims4foryou as no longer able to continue my case, they state they will be dealing with my directly and have agreed a settlement of 6k GBP.


9th May - I sign the forms (dated 9th May) and return to Goodwin & Principle that they can act on my behalf. *I was unware of the letter from Lloyds at the time I sent this back to Goodwin!


21st May - cheque arrives for full amount from Lloyds.




Now, am I obliged to pay the 24% commission to Goodwin? As one hand they have signed papers from me, but on other hand I have letters from letter confirming they are dealing directly with me dated 7th May (before I signed papers with Goodwin).


I haven't had any contact yet from Claims4you or Goodwin.


Going to sit tight for now, but wondered if anyone is in a similar position or can advise?


Thanks!

Bermonia

Depends on the terms you signed, how I would assume it is likely

[Deleted User]

smith81 wrote: »

3rd April - Claims4you contact me about situation and recommend I continue with Goodwin over the phone. I ask them to send me the papers and I would, sign and return to Goodwin.


7th May - Lloyds send me direct communication that as Claims4foryou as no longer able to continue my case, they state they will be dealing with my directly and have agreed a settlement of 6k GBP.


9th May - I sign the forms (dated 9th May) and return to Goodwin & Principle that they can act on my behalf. *I was unware of the letter from Lloyds at the time I sent this back to Goodwin!

The redress was always going to be paid direct to you by the bank.

You've signed for the second company to continue to represent you where the first company left off so you'll shortly be receiving a bill from them. It doesn't matter that the Bank offered to deal with you directly, you chose to sign a new legally-binding contract...

smith81

Moneyineptitude wrote: »

The redress was always going to be paid direct to you by the bank.

You've signed for the second company to continue to represent you where the first company left off so you'll shortly be receiving a bill from them. It doesn't matter that the Bank offered to deal with you directly, you chose to sign a new legally-binding contract...

Thanks - I did think that. In black and white terms I have signed a contract.


Hoping that the bill never turns up!


Wondering though how Goodwin can find out the claim has been settled? Would Lloyds have to disclose that information to them?

societys_child

Would Lloyds have to disclose that information

It's likely they should but maybe you'll get lucky.

[Deleted User]

smith81 wrote: »

Wondering though how Goodwin can find out the claim has been settled? Would Lloyds have to disclose that information to them?

Yes, they have to tell your representative. You've signed a Letter Of Authority (LOA) to allow this. In addition, the second firm will now contact the Bank on your behalf and be given this information.

Don't go spending that 25% (plus VAT) you've signed away...

smith81

Plus VAT!! argggh... I didn't even consider that.
Oh well, have to think of it as a bonus I got anything anyway.. just a pain in the backside you see the full amount first and have to pay the claims agent too!

[Deleted User]

smith81 wrote: »

just a pain in the backside you see the full amount first and have to pay the claims agent too!

You've also discovered how simple it would have been to contact Lloyds direct and keep all the redress for yourself.