Fee to ppi claims company

Steve_153
Steve_153 Posts: 2 Newbie
in Reclaim PPI & other insurance
I believe that all my cases were closed 2.5 years ago for ppi by the claims company!
However one of the companies that was investigated has now admitted to have been wrong in their decision and now sent a compensation fee directly to me.
Do I or still have an obligation to pay the fee to the ppi claims company that originally investigated the claim even after the case was closed??

Comments

  • Browntoa
    Browntoa Posts: 49,299 Forumite
    Name Dropper Photogenic First Post First Anniversary
    Yep.
    If that's what their terms and conditions expressed
    Ex forum ambassador

    Long term forum member
  • dunstonh
    dunstonh Posts: 116,358 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Do I or still have an obligation to pay the fee to the ppi claims company that originally investigated the claim even after the case was closed??

    No. none whatsoever. The MoJ made it clear to CMCs that they should not bill against later refunds after they have closed the case. Indeed, the MoJ said it could be fraudulent to do so.

    That said, as you would expect with CMCs, a number do try it on. But you must not pay it.
    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.
  • Steve_153
    Steve_153 Posts: 2 Newbie
    Many Thanks for your answer.
    Is there a link that shows the Moj report that NO payment be should PAID out to CMC's after the case was closed by themselves.
  • dunstonh
    dunstonh Posts: 116,358 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/342291/Claims-management-regulation-business-bulletin-Aug-2014.pdf

    page 2 - additional client fees.
    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.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards