PPI Fees...taking too much?? 19 June 2020 at 8:30AM in Reclaim PPI & other insurance 2 replies 111 views

ShazzaUk

I used a company called UClaim4Me and received a payment direct into my bank.

Total Offer Value =£4007.56

Total paid into my bank account £2574.70

Total offer value minus the 20% vat = £3206.05 not £2574.70. The company are asking us to pay fees of £961.81 but I think they have already been taken. I have emailed them but haven't received a reply but they keep sending demand letters.
Does anybody know if it looks like the payment has automatically been taken from my awarded amount. Their fees were 20% plus standard vat.

Thanks 

brettcta

You pay fees on the gross amount, not the amount received into your bank. Read the terms & conditions you signed. It’s also 20% + VAT, so 24%.

There’s quite a difference between net & gross in what you’ve stayed, has some of the redress been offset against outstanding debts you had with the lender? 

The bank haven’t deducted the CMC’s fees, that’s for you to pay.

[Deleted User]

The lender doesn't pay the CMC  You need to do that yourself.

Their fee is correct as it's based on the full amount.

You need to ask the lender why the amount paid is reduced - it will be a combination of income tax and and offsetting outstanding debt.