Reclaim question

Killpop

Hi, sorry if this is a repeated question! I’ve looked through the forum and can’t find what I need…
basically my mam spoke to the reclaiming finance companies to get back the finance interest (I think that’s what it is?!) and she’s been asked to upload her ID by a crsolicitors.co.uk and I’m always cautious in case it can somehow be too good to be true. 

Is this a reputable company? Is it safe to do what they ask?
thank you so much if you’ve read this far!

dunstonh

Is this a reputable company?

Why does she feel the need to use an ambulance chaser when it will be so easy to do it yourself when the FCA create the redress scheme?  (and at no cost to the consumer),

You will not find anyone here supporting the use of a third party charging massive amounts for what will likely be about 5 minutes work.

Ayr_Rage

Read the Ts and Cs carefully before signing.

It won't be "too good to be true", if she has already entered into an agreement with the claims company then the costs are likely to be a massive percentage of any payout.

They may even get that fee if the FCA orders global payouts and they do no further work

As above, go direct and avoid commission.

Nasqueron

Killpop said:

Hi, sorry if this is a repeated question! I’ve looked through the forum and can’t find what I need…
basically my mam spoke to the reclaiming finance companies to get back the finance interest (I think that’s what it is?!) and she’s been asked to upload her ID by a crsolicitors.co.uk and I’m always cautious in case it can somehow be too good to be true. 

Is this a reputable company? Is it safe to do what they ask?
thank you so much if you’ve read this far!

Just to be clear also, no-one is getting back their full finance interest.

There are 2 cases currently being looked at

The DCA issue which is where some people had their interest rate inflated to get more commission for sales. This will most likely result in some form of compensation such as a part refund of the interest based on the higher rate that was unfairly given to the customer. Note also that even having DCA doesn't mean you will get anything, some people had positive DCA (rate reduced to secure a sale) and some had neutral (DCA available but not used), only negative DCA should be affected as the other 2 didn't cost you anything

General commission complaint - likely will be overturned by the Supreme Court as the appeal court verdict was nonsense (the idea you can read paperwork, sign to say you read and understand it, then claim that the signature cannot be taken as proof that you read it is Kafkaesque), if it isn't, the government will likely legislate to stop this.