thinking of using Litchfield to claim PPI

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  • edited 5 July 2015 at 4:58PM
    dunstonhdunstonh Forumite
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    edited 5 July 2015 at 4:58PM
    Like the fine on Sesame for selling keydata to people who wanted low risk when the advisers were informed it was not suitable.

    Put some context on it. Even the FSCS didnt realise the risk of structured products before the credit crunch. None of those that had keydata lost out.
    The FCA final notices issued to Paul Reynolds, Christopher Peacher (delivered to HMP Norwich) and Tailormade Investments all issued this year and just a hint of the number of advisers and firms that have been found and fined over the years for lying to the public and misleading them

    You are really struggling to find the issues. So much easier to find the rips offs from claims companies and the tens and even hundreds of millions stolen from consumers lied to by them. Cartel was something like 30 million. Kerobo tens of millions. The ministry of justice strikes off hundreds of claims companies a year and that is with light touch regulation. The same cannot be said of financial advisers under far heavier regulation.
    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.
  • but the bottom line is.... A financial adviser does nothing you cannot learn yourself and this is a money saving ,so don't waste your money paying fees to use financial advisers
  • dunstonhdunstonh Forumite
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    but the bottom line is.... A financial adviser does nothing you cannot learn yourself and this is a money saving ,so don't waste your money paying fees to use financial advisers

    Such is the case with every job there is.
    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.
  • Mart_DMart_D Forumite
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    I had a call back in January 2015 from Litchfield Price who took my details to look into any PPI, they called back 30 mins later stating yes sir you have definitely got money to come back to you as we have looked into your details ....... With this in mind: after a very good sales pitch I agreed to a fee of £500 pounds (with a guarantee of money back) if no win !!!

    After nearly 8 months I have not had one call from them and after many hours of trying to talk to someone and lots of stress, I have still had nothing back from them .. "Including my 500 pounds" which is all I want back now. I have had a couple of emails from them, that has indicated the original 10% They were charging has now moved to 40% - yet still nothing !!

    Can someone please advise of what I can do to reclaim my £500 pounds back

    Stay away from these guys at all costs as they are far from anything but a joke ..... :mad::mad::mad:
  • dunstonhdunstonh Forumite
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    I had a call back in January 2015 from Litchfield Price who took my details to look into any PPI, they called back 30 mins later stating yes sir you have definitely got money to come back to you as we have looked into your details ....... With this in mind: after a very good sales pitch I agreed to a fee of £500 pounds (with a guarantee of money back) if no win !!!

    Oh dear. That is not how it works and it smells bad. That is exactly what happens on the advance fee fraud scam calls.
    Can someone please advise of what I can do to reclaim my £500 pounds back

    Complain to the Legal ombudsman. They have a representative on this board (see sticky)
    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.
  • Hi Julie what happened ? Did Litchfield get you anything? They have contacted me and are very persuasive
  • dunstonhdunstonh Forumite
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    grantjc wrote: »
    Hi Julie what happened ? Did Litchfield get you anything? They have contacted me and are very persuasive

    Claims companies have a captive audience. They know if you are were gullible enough to be mis-sold PPI then you can be easily mis-sold their services too.
    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.
  • davmaildavmail Forumite
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    I had a call today,they said i could get back over £5000:00 but wanted £495 up front,i dont have that kind of money,but before they said they needed to take 1p off my card to verify who i was so they could do a credit check to see how much i am owed,they phoned back and gavce me correct details of loans etc i had had before,but,i could not pay the 495 fee,so they said they would ring again in 2 weeks.Its worrying.
    Kawasaki z750 Rider!
  • dunstonhdunstonh Forumite
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    I had a call today,they said i could get back over £5000:00 but wanted £495 up front,

    Alarm bells. Many companies with that pricing model go on to fail taking the £495 with them.

    Not making any allegations against this company but it also matches a number of scams which use it as advance fee fraud. This is where you make up a figure that the person could get (£5000 in this case) which plays to your greed and then they tell you it will cost £495 to get it. You pay the £495 thinking you will get £5k. Yet there is no £5k.
    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.
  • Please do not use this company. I was approached by them in January of this year and after a brief chat they assured me that I would have been miss sold ppi over a 25 year period. They informed me that if I returned all their forms without any delay then the whole process takes about 12 weeks. In August I felt that enough time had elapsed and requested the return of my deposit which was initially £500 negotiated down to £250. Despite me emailing the company several times and phoning on their 0844 number the money is still being withheld. I am now in the process of contacting the FO to see if they can resolve the issue. They seem to be adopting the same practices that the banks have in the past.

    Only wish I had wrote to the banks and loan companies myself. Dealing direct is probably less stressful. Remember, you still need to complete forms from Litchfield Price.!
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