Beware -PPI search costs

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north16
north16 Posts: 4 Newbie
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in Praise, vent & warnings
I know Martin has stated you do not have to pay for PPI searches,as you can do it yourself. However those who receive unsolicited mail saying they will fight for your PPI -they can charge as much as 33% of any amount that you receive (even though they state that this money is YOURS!).
Just read the small print before signing anything with a financial dimension to it.

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  • lessonlearned
    lessonlearned Posts: 13,337 Forumite
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    north16 wrote: »
    I know Martin has stated you do not have to pay for PPI searches,as you can do it yourself. However those who receive unsolicited mail saying they will fight for your PPI -they can charge as much as 33% of any amount that you receive (even though they state that this money is YOURS!).
    Just read the small print before signing anything with a financial dimension to it.

    Still means you get 67% though for doing naff all.

    If you want to go the diy route that’s fine, some people aren’t sure how to do it or don’t want the hassle and are happy to pay a fee.

    Same with things like probate etc. I recently paid £3k To my fathers solicitor, well I didn’t personally because it came out od his estate, thus reducing my inheritance. Couldn’t have cared less. Yes I could have done it myself but it was a messy complicated business, largely due to my sister being so awkward.

    Sometimes it’s worth paying a professional to do the dirty work for you.
  • Browntoa
    Browntoa Posts: 49,302 Forumite
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    No such thing as a "ppi claims professional"

    Merely someone who sends out the same forms you can download for free from the forum and fills them out with the information you supply . And you pay 33% for the honour.
    Ex forum ambassador

    Long term forum member
  • societys_child
    societys_child Posts: 7,110 Forumite
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    And you pay 33% for the honour.
    You forgot the price of the stamp . . :)
  • BoGoF
    BoGoF Posts: 7,099 Forumite
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    And it will be 33% plus VAT
  • takman
    takman Posts: 3,876 Forumite
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    lessonlearned wrote: »
    Still means you get 67% though for doing naff all.

    If you want to go the diy route that’s fine, some people aren’t sure how to do it or don’t want the hassle and are happy to pay a fee.

    Same with things like probate etc. I recently paid £3k To my fathers solicitor, well I didn’t personally because it came out od his estate, thus reducing my inheritance. Couldn’t have cared less. Yes I could have done it myself but it was a messy complicated business, largely due to my sister being so awkward.

    Sometimes it’s worth paying a professional to do the dirty work for you.

    That's a ridiculous comparison.

    When you use a PPI Claims Company you still have to fill out the same information on forms as if you did it yourself. So you still do the same amount of work and get less money due to their substantial fee. Plus you have less chance of actually getting the PPI back compared to doing it yourself.
  • lessonlearned
    lessonlearned Posts: 13,337 Forumite
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    takman wrote: »
    That's a ridiculous comparison.

    How very rude......
  • lessonlearned
    lessonlearned Posts: 13,337 Forumite
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    edited 6 January 2018 at 2:54AM
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    Browntoa wrote: »
    No such thing as a "ppi claims professional"

    Merely someone who sends out the same forms you can download for free from the forum and fills them out with the information you supply . And you pay 33% for the honour.

    No........indeed not. They are in effect salespeople, simply selling their services. You can buy or not buy, it’s about choice.

    If someone wants to go the diy route and save themselves some dosh then great. If someone prefers to either get help or delegate a task which bores them to tears then that’s their prerogative. :rotfl:
  • takman
    takman Posts: 3,876 Forumite
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    lessonlearned wrote: »
    No........indeed not. They are in effect salespeople, simply selling their services. You can buy or not buy, it’s about choice.

    If someone wants to go the diy route and save themselves some dosh then great. If someone prefers to either get help or delegate a task which bores them to tears then that’s their prerogative. :rotfl:

    You still don't seem to be getting it!.

    The claims company don't provide any help and you won't be delegating anything by using them. As I said above you will still be filling out the same information but just on different forms.

    If people understand this and still choose to use them then that's their choice. But if people use them because they have seen misinformation saying it saves them time/work then that's not right.
  • George_Michael
    George_Michael Posts: 4,251 Forumite
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    takman wrote: »
    That's a ridiculous comparison.
    lessonlearned wrote: »
    How very rude......


    If you really think that's "very rude", all I can say is that until now, you must have lead a very sheltered life.
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