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  • FIRST POST
    thelionel2000
    Claim guys reclaiming Ppi
    • #1
    • 12th Aug 09, 2:36 PM
    Claim guys reclaiming Ppi 12th Aug 09 at 2:36 PM
    Hi All

    Need off a little help.
    I have 4 credit card and 4 loans which most have been passed over to collection agencies.
    I was approached by a company called the claim guys saying they may be able to claim back all the charges or mis-sold insurances on my cards and loans.
    What I am trying to find out is if I do manage to claim back some money obviously the creditors will put that money to paying off the remainder off the debt and I will be left with a bill from the claim guys?
    Also
    Is it actually putting the claim in your self rather than having a company do it for you?

    Thanks in advance.

    Simon
Page 7
    • Nasqueron
    • By Nasqueron 19th Feb 17, 9:47 PM
    • 4,755 Posts
    • 2,834 Thanks
    Nasqueron
    If these were claims before your bankruptcy then the money isn't yours anyway

    If it's after then you have already claimed, the claims firm will simply ask you who you had finance with and send off the complaints - they'll probably bill you for time wasting when they realise you have already complained and got some money back
    • dunstonh
    • By dunstonh 19th Feb 17, 10:55 PM
    • 93,042 Posts
    • 60,439 Thanks
    dunstonh
    . I heard on the radio that claims guys will do a search.
    Your data is not in the public domain. So, that is not possible. The best they can do is check your credit record and ask you who you have used in the past and they will send speculative letters to them.

    As I have tried myself I feel like I might as well give this a go, and anything they find, I can claim myself and not pay them fees Does this sound like a good idea? Has anyone used them before?
    if you have already complained and been knocked back, you do not get a second bite. The CMC can bill you for wasting their time.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • tango15
    • By tango15 6th Jan 18, 8:35 PM
    • 5 Posts
    • 3 Thanks
    tango15
    The Claims Guys
    I would just like to offer another point of view on the whole business of PPI claiming through a third party.

    Like many people, I had no idea whether I had PPI or not. I was divorced in 1997 and have lived in six different houses and had four different jobs since then. I could not remember what loans and/or credit cards I had during that time, or who they were with and no longer had any records of them. I contacted The Claims Guys and frankly I am now astounded by the amount of PPI they have uncovered.

    Yes, I could have written to every loan and credit card provider I could think of, which would not have been many, and let them do the work and collect all the cash myself, but when you can't remember who you had the financial transactions with in the first place and a divorce and several jobs have intervened, that's a big ask and no doubt I would have missed one or two.

    The Claims Guys have currently identified more than 15k worth of PPI and are still chasing several other lenders, so whilst I fully recognise that I will have to pay their fees, I take the view that it is money I would probably never have found anyway. For people who have lived at the same address and are aware of their financial transactions over the past 20 years, doing it yourself is clearly the most sensible solution, but not all of us are in that situation.

    In terms of dealing with The Claims Guys, most of it has been at arm's length ie, paperwork in both directions, with just a few phone calls. I cannot fault them thus far and I can only speak as I find.

    What I find astounding with this whole PPI business is that the customer - the person who has been wronged in all this - is the one being asked to reclaim the money, rather than the lending institutions doing a bit of research themselves to find their customers. It is not so difficult in this day and age to find people. A few years ago I found a cousin with whom I had lost contact 50 years ago. She had been adopted, married twice and lived at countless addresses in that time. That information is available to the banks as well.
    • BorisThomson
    • By BorisThomson 6th Jan 18, 8:48 PM
    • 1,586 Posts
    • 3,426 Thanks
    BorisThomson
    I would just like to offer another point of view on the whole business of PPI claiming through a third party.

    Like many people, I had no idea whether I had PPI or not. I was divorced in 1997 and have lived in six different houses and had four different jobs since then. I could not remember what loans and/or credit cards I had during that time, or who they were with and no longer had any records of them. I contacted The Claims Guys and frankly I am now astounded by the amount of PPI they have uncovered.

    Yes, I could have written to every loan and credit card provider I could think of, which would not have been many, and let them do the work and collect all the cash myself, but when you can't remember who you had the financial transactions with in the first place and a divorce and several jobs have intervened, that's a big ask and no doubt I would have missed one or two.

    The Claims Guys have currently identified more than 15k worth of PPI and are still chasing several other lenders, so whilst I fully recognise that I will have to pay their fees, I take the view that it is money I would probably never have found anyway. For people who have lived at the same address and are aware of their financial transactions over the past 20 years, doing it yourself is clearly the most sensible solution, but not all of us are in that situation.

    In terms of dealing with The Claims Guys, most of it has been at arm's length ie, paperwork in both directions, with just a few phone calls. I cannot fault them thus far and I can only speak as I find.

    What I find astounding with this whole PPI business is that the customer - the person who has been wronged in all this - is the one being asked to reclaim the money, rather than the lending institutions doing a bit of research themselves to find their customers. It is not so difficult in this day and age to find people. A few years ago I found a cousin with whom I had lost contact 50 years ago. She had been adopted, married twice and lived at countless addresses in that time. That information is available to the banks as well.
    Originally posted by tango15
    How much are you paying the Claims Guys for sticking a few stamps on envelopes?

    They've not got any more information than you have given them.
    • dunstonh
    • By dunstonh 6th Jan 18, 9:44 PM
    • 93,042 Posts
    • 60,439 Thanks
    dunstonh
    The Claims Guys have currently identified more than 15k worth of PPI and are still chasing several other lenders, so whilst I fully recognise that I will have to pay their fees, I take the view that it is money I would probably never have found anyway.
    You are going to lose around 5k of that in fee and VAT.

    Your credit search shows you the last 6 years of credit. The top 5 banks cover the majority of borrowing. So, one form, photocopied 5 times and sent to the top 5 lenders would have got a similar outcome.

    What I find astounding with this whole PPI business is that the customer - the person who has been wronged in all this - is the one being asked to reclaim the money, rather than the lending institutions doing a bit of research themselves to find their customers.
    Remember that there is nothing wrong with having PPI and some types are still sold today. Some distribution channels have barely any missales against them. In the consultation, the FCA recognised that most regular premium PPI was not missold. However, we know from complaints stats that most loan PPI was missold. Card PPI is about half.

    Also, there are an awful lot of people trying it on. i.e. they knew they had PPI. Chose to have it but are still complaining (and often successful). Mainly as the banks and providers often have little or no info to go on.

    It is not so difficult in this day and age to find people. A few years ago I found a cousin with whom I had lost contact 50 years ago. She had been adopted, married twice and lived at countless addresses in that time. That information is available to the banks as well.
    Shame you didnt apply that train of thought about PPI rather than using a CMC.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • -taff
    • By -taff 6th Jan 18, 10:18 PM
    • 7,420 Posts
    • 5,493 Thanks
    -taff
    The Claims Guys have currently identified more than 15k worth of PPI and are still chasing several other lenders,.
    Originally posted by tango15
    Really? That's nice.

    Alas, the only they could have identified it is to send speculative complaints to all lenders, or look at your credit report.

    I'm sure the second one would hav been very difficult for you to do.

    Do come back and tell us what yo received, and what you gave to them. It'd be very interesting
    • Moneyineptitude
    • By Moneyineptitude 7th Jan 18, 3:34 AM
    • 20,476 Posts
    • 11,350 Thanks
    Moneyineptitude
    The Claims Guys have currently identified more than 15k worth of PPI and are still chasing
    Originally posted by tango15
    Yes, they are "chasing" thousands of pounds which you will pay them!
    No wonder they are "chasing".

    They are "chasing" by simply putting a stamp on the envelopes containing your complaints.

    Please do not inadvertently promote the "work" of a Claims Company. They really do absolutely nothing you could not have done yourself and for free.
    • tango15
    • By tango15 8th Jan 18, 6:39 PM
    • 5 Posts
    • 3 Thanks
    tango15
    I am well aware how much I will have to pay the CMC.

    'Sticking stamps on an envelope' is somewhat difficult when I am in Moscow, Tashkent, or currently Novosibirsk. which I frequently am. I am not UK-based at present, hence the reason why I chose to make the claims through a third party. Not all of us have 9-5 five-day-a-week jobs based in the UK.

    dunstonh:

    I have already clearly stated that I am aware of the costs.

    My current PPI goes back more than six years. I have not borrowed any money during the past six years, so a credit check would not have elicited any useful information.

    Shame you didnt apply that train of thought about PPI rather than using a CMC.

    Please do not inadvertently promote the "work" of a Claims Company. They really do absolutely nothing you could not have done yourself and for free.

    The judgemental attitude of people on this forum is breathtaking. You know nothing of my personal circumstances, or the reasons why I chose this course of action, which I am entitled to do - we still live in a democracy. I was not 'promoting' their work - I was simply offering an alternative point of view, perhaps for others, like myself, who are not based in the UK. I would, without doubt, have taken on the job myself if I was at home every day, as those who sit in judgement clearly are. So please take a moment to reflect on the situation of others before flaming them on an open forum.
    • Moneyineptitude
    • By Moneyineptitude 8th Jan 18, 6:56 PM
    • 20,476 Posts
    • 11,350 Thanks
    Moneyineptitude
    'Sticking stamps on an envelope' is somewhat difficult when I am in Moscow, Tashkent, or currently Novosibirsk. which I frequently am. I am not UK-based at present, hence the reason why I chose to make the claims through a third party.
    Originally posted by tango15
    So you fill in the complaint forms while abroad and then post them to the Claim Company which then forwards them to the financial institution concerned?

    You really aren't putting forward a convincing argument for using a third party.
    • -taff
    • By -taff 8th Jan 18, 7:04 PM
    • 7,420 Posts
    • 5,493 Thanks
    -taff
    You can complain directly on the banks website.
    They have internet in Russia I assume.
    • Moneyineptitude
    • By Moneyineptitude 8th Jan 18, 7:21 PM
    • 20,476 Posts
    • 11,350 Thanks
    Moneyineptitude
    You can complain directly on the banks website.
    Originally posted by -taff
    ...or directly by telephone. Post has proven to be reliable too.
    • Sheacoconut
    • By Sheacoconut 8th Jan 18, 8:00 PM
    • 1 Posts
    • 2 Thanks
    Sheacoconut
    Ppi
    Just to confirm the previous comment about applying for PPI whilst living abroad. I am a UK Citizen currently residing in the Republic of Ireland and I have had two successful PPI claims. I made a claim direct on the banks websites.
    • TETRALUNA
    • By TETRALUNA 6th May 18, 7:58 PM
    • 1 Posts
    • 0 Thanks
    TETRALUNA
    letter of authority
    i have 2 letters of authority from the claims guys now asking for details of employment etc, and my reason for claim. This seems like the go ahead for them to start making claims. im not sure what to do really, maybe tick 'can't rememeber' for most of the sections.

    If i was to walk away at this point would they be hassling me for money? as no claim has actually been attempted. Thanks in advance
    • zx81
    • By zx81 6th May 18, 8:22 PM
    • 17,284 Posts
    • 18,396 Thanks
    zx81
    If you've signed contracts with them, you're stuck with them.
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