Worth using a claims service?

Heldav

Hi I fully understand the advice given that it isn't necessary to use a claims service.

However, myself and my ex husband had numerous business loans going back to the 1980s, and although I don't think we knowingly took out PPI the general advice is to check. But in 1999 we got divorced and my husband died in March 2013. I know the names of the old lenders, but not the account details, I have recently found in my ex-husband's paperwork a credit card statement which clearly shows PPI dated 2011, my eldest son is the executor so he would have to pursue this.

I know I should have sorted all this earlier, but this is just so complicated with all the probate etc. etc. I would cheerfully pay a PPI claims company to sort all this out for me. A friend rubbished the idea of using them, did it all herself with the correct account details and proofs, got messed around, fobbed off, and has finally had to go to the ombudsman. I can't face all that. Are there any good reasons for avoiding these claims companies, except to simply avoid paying fees?

[Deleted User]

Heldav wrote: »

A friend rubbished the idea of using them, did it all herself with the correct account details and proofs, got messed around, fobbed off, and has finally had to go to the ombudsman. I can't face all that. Are there any good reasons for avoiding these claims companies, except to simply avoid paying fees?

Aside from not wanting to pay unnecessary and (still) exorbitant fees, the "good" reasons for not using them are many. First and foremost, they do not do any actual research or investigation on your behalf-they simply send you forms which you have to fill in with all relevant details and you provide your own evidence. Second, use of a CMC won't increase your chances of success so you may still be "messed around, fobbed off, and finally to the ombudsman".

Your complaint is also far from cut-and-dried. What would be your complaint reason about PPI tailored to Business loans? What Business did the insurance protect? If the business is long since defunct you cannot now make a complaint on behalf of that business. You'd have to re-open the business in order to complain.

Just don't use a CMC.

SonOf

However, myself and my ex husband had numerous business loans going back to the 1980s, and although I don't think we knowingly took out PPI the general advice is to check.

If you employ a CMC then only you are liable for their fee. Not your ex. You will be billed their 24% against his share as well as yours. His share would go to the estate and distributed as per his Will or intestacy rules. Probate is sometimes required if it was never obtained previously.

A friend rubbished the idea of using them, did it all herself with the correct account details and proofs, got messed around, fobbed off, and has finally had to go to the ombudsman. I can't face all that.

All a CMC does is put a template complaint into the bank using the same free of charge to use complaints process. They do nothing after posting it.

Are there any good reasons for avoiding these claims companies, except to simply avoid paying fees?

1- lower success rate than personal complaints
2- you may not see the some or all of the redress but you end up with the bill
3- they really do very little.

If it was a limited company, then there are more hoops to jump through.

Browntoa

As above , don't hand over a big chunk of your money to a 3rd party.

CMC have no magic wand

Heldav

Thank all the above for their replies, I wish I had come onto this forum earlier!

I have a pile of forms in front of me from The Claim Guys and I had the distinct impression that as they only get paid if they achieve results, that they would fight for compensation much harder than I would. I haven't signed or agreed anything with them. If the consensus is that they do no more than just send off the initial letter, then I now understand why its not worth paying them.

The whole thing is very messy, some were business loans (self employed. Some were personal including credit cards. The whole probate issue makes it much more complicated. And as pointed out above the claims themselves would not be straightforward.

I would just not bother, but theres always the thought that for that extra effort I might have achieved something. So I will uses the online templates and do it myself. Many thanks

SonOf

I have a pile of forms in front of me from The Claim Guys and I had the distinct impression that as they only get paid if they achieve results, that they would fight for compensation much harder than I would.

They would like you to think that. Don't fall for marketing.

The real issue would be you facing the bill but not getting some or all of the money if the complaint is successful.

I would just not bother, but theres always the thought that for that extra effort I might have achieved something. So I will uses the online templates and do it myself. Many thanks

Who is the beneficiary(ies) of his estate?

The_squirrell

I agree with everything that has been said so far. If the CMC mentioned above is dealing with a smaller lender, they send an envelope second class with your completed forms. If its a larger lender, they will just add your details to a spreadsheet. 24% for all that work!!!

Heldav

My sons are the beneficiaries, the eldest who is executor is in New Zealand travelling for a year. I will try and submit forms on his behalf and wait to see what info they require,

Thats all they do Squirrell? Definitely had my eyes opened here!

[Deleted User]

Heldav wrote: »

Definitely had my eyes opened here!

Never assume that, just because you are paying for something, you are definitely receiving value for money. That was the whole basis of the PPI mis-selling scandal in the first place...
Claims Companies don't "fight" for compensation, they merely use the exact same free complaint process as everyone else.

The_squirrell

"Thats all they do Squirrell? Definitely had my eyes opened here"


It is indeed all they do. The websites make all sorts of proud claims, but at best they are only ever Claim Form Forwarders! As others have said many times, they really should never be used. One of these days, I should write a post detailing some of the examples I have seen with these companies. All names removed of course!


Maybe after August 29th!

brettcta

The only ‘fighting’ claims guys will do is fight you for their fee if you’re a day late paying them