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PPI Fees when another party has benefited
dizzybeeme
Posts: 3 Newbie
Hi, I engaged Fast track for PPI claim but never thought it would be successful however I have now received a letter from my bank stating that a claim has been agreed and it had the fastback ref number on it. The letter states the total claim is just under £4000 but that as it was a joint account I will be sent half and my ex partner will be sent the other half. I have no objection to him receiving half of the reward but I know the fees are 20% plus VAT but does this mean I will be responsible for the fees on his share as well as my own as I instigated the claim?
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Comments
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It varies with CMC. Some will bill against the full amount. Some will bill against your share.If your CMC bills you against the full amount, you should make a formal complaint and if the CMC doesnt back down, refer it to the FOS.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.0
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There will be no fees for him because he didn't employ a company, you did.
Non me fac calcitrare tuum culi0 -
I think the best thing to do is wait for the money to hit your bank account and wait for the CMC bill.
If you are only billed for your half - pay it and move on.
If they try to bill you for the whole lot - send them a copy of your bank statement and pay half of what is due.
If they still contact you after - take Dunstonh's advice.0
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