Ppi fee cap 13 June 2019 at 11:30AM edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance 4 replies 758 views

dannyjebb

Hi all,

If a claims company had a letter of authority signed in October 2018.

Would this mean the fee cap is 25% we aren't sure the exact date they rang her initially.

Also is a single page stating the name of the bank and my gran has written her adreess and signed it. The letter states she gives authorisation for this company to be the sole people to make her claim.

Am I able to share a copy of this LOA on here for someone to check? It doesn't list and terms and conditions or say explicitly what the fee is?

They have currently charged her 39%

Many thanks

Danny

[Deleted User]

dannyjebb wrote: »

They have currently charged her 39%

In your original thread, two weeks ago, the fee was 50% and your grandmother was adamant that she had never signed anything.
https://forums.moneysavingexpert.com/showthread.php?t=6007094

You can't post links to the LOA for someone here to "check", but as the Bank have already accepted it's validity there would be little point.

If the contract was put in place before the cap then the cap will obviously not apply. It's this contract which will contain T&Cs and the % fee charged. Why haven't you asked the company to provide a copy of that?

EDIT:
Remember that the fee is a percentage of the gross redress before any tax and that VAT is charged in addition to that. The fee cap is actually 20%, but that effectively becomes 25% with the VAT.

dannyjebb

Hi

Yes originally I thought it was 50% but after the advice on the forum I realised it was less than this. Their website still advertises the fee at 39%

So alongside the LOA they should also have a signed agreement which states how much the fee will be? It's taken me a week to get them to send me this, and I did ask for all signed documents they have and this is the only one sent.

Thanks

Danny

Nasqueron

Send them a SAR (request for all the data they hold on you). They have to respond to this by law and provide you with it within a set period (might be 30 days now, can't be bothered to look it up)

[Deleted User]

dannyjebb wrote: »

So alongside the LOA they should also have a signed agreement which states how much the fee will be? It's taken me a week to get them to send me this, and I did ask for all signed documents they have and this is the only one sent.

Why did you only ask for signed documents? Ask them for everything on file and especially the terms and conditions/contract. If Gran agreed over the 'phone you could request the recording manuscript.

What you need to do is make a formal complaint that there has been a regulated fee cap of 20% since July last and that they shouldn't be charging any more than this. If they reject this complaint, this gives you access to the Ombudsman which should stop all this one way or the other...