cold call PPI

Sarahbelle91

First post here so go easy on me! 

Just had a cold call from a PPI company saying I’m owed £500ish and they’re wanting to send me a cheque. They’ve taken some very basic details (none banking) and I’ve signed a contract. They already had my address and income info. 

Googling the company, it doesn’t look like it’s been around long and doesn’t look like it’s had any reviews, negative or positive. 

I’ve never looked into PPI because despite having had loans etc I just didn’t think I’d be entitled, and so I wouldn’t be surprised thinking back now if I WAS entitled to the money. 

I’m currently in financial dire straits though, so jumped at the chance before really giving it any thought (they also caught me in work, so I had to get the conversation done and dusted as quick as possible). 

I asked them for the catch and they said they’ve already deducted a £50 admin fee but the amount they gave me is correct for what I’ll receive via cheque in the mail within a few weeks. 

Am I being overly skeptical, or does this sound legit? 

dunstonh

Just had a cold call from a PPI company saying I’m owed £500ish and they’re wanting to send me a cheque. They’ve taken some very basic details (none banking) and I’ve signed a contract. They already had my address and income info. 

Sounds fraudulent.   Probably advance fee fraud.

No claims company is sent money by the finance company.  If the finance company was going to refund anything, they would send it to you directly.

Googling the company, it doesn’t look like it’s been around long and doesn’t look like it’s had any reviews, negative or positive. 

Have you checked to see they are authorised by the FCA or the Law Society?

I asked them for the catch and they said they’ve already deducted a £50 admin fee but the amount they gave me is correct for what I’ll receive via cheque in the mail within a few weeks. 

That really does make it look like advance fee fraud.

Am I being overly skeptical, or does this sound legit? 

It does not sound legit.   I think you have just lost £50.