Claims Guys say I could be owed more!

OK I know I went with the Claim Guys, but in my defence it was only after I got knocked back by Capitial One that I brought them on board.  They were successful and I received around £2000 after 30% commission so I was well pleased.  Recently I received a letter from them saying ....
We believe you could be owed more compensation saying that the monies (compensation) I received were only a fraction of the commission Capitial One received.  TCG's say they believe there could be a further potential Pelvin PPI claim. 
This time through The Claim Guys Legal or TCG Legal as they state in their letter they are working on a whopping 40% + VAT!!
Is there a way i could pursue this myself or do i look at 60% of something is better than 100% of nothing.

Comments

  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Felix68 said:
    We believe you could be owed more compensation saying that the monies (compensation) I received were only a fraction of the commission Capitial One received.  
    Since  PPI redress is defined as a full refund plus interest I fail to see where this firm are seeing any mileage in a Plevin complaint about undisclosed commission. If you've already had a full refund then you've already had the  commission element  too. 

    Regardless, two other things come to mind. One is that PPI complaints ended last year and the other is that Claim Management Companies have had their fees capped at 20% for over a year. 

    In your shoes I'd just put the letter in the bin...
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Felix68 said:
    TCG's say they believe there could be a further potential Pelvin PPI claim. 

    Brilliant.  I'd love to see the maths on that one!

    They obviously building an idiot list for the future.  Don't sign up to it.
  • dunstonh
    dunstonh Posts: 116,252 Forumite
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    We believe you could be owed more compensation saying that the monies (compensation) I received were only a fraction of the commission Capitial One received.  TCG's say they believe there could be a further potential Pelvin PPI claim. 

    I'm afraid that is false information.

    Plevin only applies to rejected complaints. It does not apply to successful complaints.  If you have had a successful complaint, you get 100% refund (plus interest).  There is nothing else to refund.  



    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • brettcta
    brettcta Posts: 4,693 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Felix68 said:
    We believe you could be owed more compensation saying that the monies (compensation) I received were only a fraction of the commission Capitial One received.  
    Since  PPI redress is defined as a full refund plus interest I fail to see where this firm are seeing any mileage in a Plevin complaint about undisclosed commission. If you've already had a full refund then you've already had the  commission element  too. 

    Regardless, two other things come to mind. One is that PPI complaints ended last year and the other is that Claim Management Companies have had their fees capped at 20% for over a year. 

    In your shoes I'd just put the letter in the bin...
    The clue is in who is trying to get OP to sign up - Claims Guys Legal. The CMCs are now pursuing legal action to further rinse the cash cow. Complaints were time-barred but legal action wasn’t. 

    they can wave a fat payout now with a ‘we can get you more money’ advert but they can revert back to the big daft fees because it’s not a regulated complaint and there’s 2 firms (them and the solicitor) that take a slice of the pie.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    brettcta said:

    The clue is in who is trying to get OP to sign up - Claims Guys Legal. The CMCs are now pursuing legal action to further rinse the cash cow. Complaints were time-barred but legal action wasn’t. 

    they can wave a fat payout now with a ‘we can get you more money’ advert but they can revert back to the big daft fees because it’s not a regulated complaint and there’s 2 firms (them and the solicitor) that take a slice of the pie.
    All of which does nothing to change my original advice to throw the letter in the bin...
  • dunstonh
    dunstonh Posts: 116,252 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    I had noticed an increase in the number of companies getting set up as legal firms instead of CMCs.  This puts them under different regulations (easier going with legal than financial).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Silvertabby
    Silvertabby Posts: 9,010 Forumite
    First Anniversary Name Dropper Photogenic First Post
    edited 18 May 2020 at 10:52AM
    Just a little bit off piste, but a friend who is still working as  a LGPS administrator tells me that they have had a small - but nonetheless worrying - number of calls from fund members asking for pensions information, on the grounds that they have been told that they can claim compensation for being 'forcibly' contracted out of SERPS/SP2.  

    Even the most grasping of UK claims management companies must know that this would be a non-starter - so it's concerning to think what 'just need you to pay £x up front' schemes some crooks have come up with.
  • brettcta
    brettcta Posts: 4,693 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    brettcta said:

    The clue is in who is trying to get OP to sign up - Claims Guys Legal. The CMCs are now pursuing legal action to further rinse the cash cow. Complaints were time-barred but legal action wasn’t. 

    they can wave a fat payout now with a ‘we can get you more money’ advert but they can revert back to the big daft fees because it’s not a regulated complaint and there’s 2 firms (them and the solicitor) that take a slice of the pie.
    All of which does nothing to change my original advice to throw the letter in the bin...
    Of course. File it in the recycling bin.

    i have a feeling the course of action will be to throw as much litigation at banks In the hope that they just settle the lower amounts to avoid spiralling costs.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • Hi all, I’m looking for some advice please. A couple of years ago I used the claim guys to pursue miss sold PPI. Some were successful and some weren’t. Anyway, out of the blue last week, Santander which originally refused my claim, offered me a settlement as part of Plevin. Great! However, The Claims Guys are now saying that I owe them commission on this even though the haven’t done anything further to bring this to fruition. Santander initiated the reinvestigation themselves. Do I have to pay them, or are they just trying it on. Thanks in advance. 
  • It sounds like you do owe them. They did what they promised which was to send out an initial hopeful letter to Santander.

    That's enough to earn them their money.
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