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    • Jaysonbrd1976
    • By Jaysonbrd1976 12th Apr 18, 1:43 PM
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    Jaysonbrd1976
    PPI claim company what payment of fees but I didn't receive compensation.
    • #1
    • 12th Apr 18, 1:43 PM
    PPI claim company what payment of fees but I didn't receive compensation. 12th Apr 18 at 1:43 PM
    Hi, new to the forum but really need some help/advice. We recently went through a ppi claim company called GW Legal and made a claim against a loan from Welcome Finance. I had completed an IVA in 2008 and one of my creditors was Welcome Finance, however they refused to attend the creditors meeting and according to my IVA administrator, "as they did not submit a claim to rank for dividend purposes then they received no payment from your IVA however, they are still bound by its terms and are unable to pursue you any longer". Welcome Finance did initially accept the ppi claim, but a few weeks later we received a letter stating that they were going to offset the ppi against the initial loan - so we receive nothing but still face a pretty hefty fee (33% plus vat) from GW Legal, who are now threatening us with legal action. I can't afford to pay them. What to do?
Page 1
    • Moneyineptitude
    • By Moneyineptitude 12th Apr 18, 2:01 PM
    • 20,143 Posts
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    Moneyineptitude
    • #2
    • 12th Apr 18, 2:01 PM
    • #2
    • 12th Apr 18, 2:01 PM
    Welcome Finance did initially accept the ppi claim, but a few weeks later we received a letter stating that they were going to offset the ppi against the initial loan - so we receive nothing but still face a pretty hefty fee (33% plus vat) from GW Legal, who are now threatening us with legal action. I can't afford to pay them. What to do?
    Originally posted by Jaysonbrd1976
    Unfortunately, you really should have realised that you still owed the Bank money even if they no longer chase you for it. It's a foregone conclusion that any proceeds from a PPI complaint would therefore go towards the unpaid debt and so none of it to you.

    Did you tell the Claim Company that you had been in an IVA previously? If so, then the CMC should never have accepted you as a customer and should have advised that you were likely to receive nothing.

    If you didn't mention your IVA, then you do indeed owe 33% of the redress you won't now receive.

    You'll have to agree some kind of payment plan..
    • Jaysonbrd1976
    • By Jaysonbrd1976 12th Apr 18, 2:05 PM
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    Jaysonbrd1976
    • #3
    • 12th Apr 18, 2:05 PM
    • #3
    • 12th Apr 18, 2:05 PM
    Aaaargh....just what I was hoping not to hear. We did tell GW Legal that we'd previously had an IVA though and their response was that it was still possible to make ppi claims.
    • Moneyineptitude
    • By Moneyineptitude 12th Apr 18, 2:20 PM
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    Moneyineptitude
    • #4
    • 12th Apr 18, 2:20 PM
    • #4
    • 12th Apr 18, 2:20 PM
    We did tell GW Legal that we'd previously had an IVA though and their response was that it was still possible to make ppi claims.
    Originally posted by Jaysonbrd1976
    If that's truly the case, you should complain that the company should never have accepted you as a "customer" in the first place. If you have no satisfactory response to your complaint after eight weeks you'll be able to refer it to the Legal Ombudsman.

    Do note, though, that you'll need documentary proof that you informed them of your IVA and that they responded you should still complain.

    If this was in a telephone call, then you are going to struggle trying to prove it.
    • Nasqueron
    • By Nasqueron 12th Apr 18, 7:05 PM
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    Nasqueron
    • #5
    • 12th Apr 18, 7:05 PM
    • #5
    • 12th Apr 18, 7:05 PM
    Formal complaint to the firm, then escalate to the regulator if/when they reject

    Explain you had said you were in an IVA which they should have checked up (and checked while complaining)
    • Moneyineptitude
    • By Moneyineptitude 12th Apr 18, 9:41 PM
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    Moneyineptitude
    • #6
    • 12th Apr 18, 9:41 PM
    • #6
    • 12th Apr 18, 9:41 PM
    Formal complaint to the firm, then escalate to the regulator
    Originally posted by Nasqueron
    As I said earlier, the correct referral is to the Legal Ombudsman.
    • dunstonh
    • By dunstonh 12th Apr 18, 11:49 PM
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    dunstonh
    • #7
    • 12th Apr 18, 11:49 PM
    • #7
    • 12th Apr 18, 11:49 PM
    If the CMC were aware of this at the start of the complaint then they are required to make you aware of the consequences and consider pulling out to avoid this very scenario.

    So, if what you saying is correct, then you should raise a complaint and take it to the Legal Ombudsman if its rejected.
    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.
    • Nasqueron
    • By Nasqueron 13th Apr 18, 9:56 AM
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    Nasqueron
    • #8
    • 13th Apr 18, 9:56 AM
    • #8
    • 13th Apr 18, 9:56 AM
    As I said earlier, the correct referral is to the Legal Ombudsman.
    Originally posted by Moneyineptitude
    Which is the regulator for the industry

    Our job is to look at complaints about legal service providers and claims management companies in a fair and independent way
    Regulator: a person or body that supervises a particular industry or business activity.
    • Moneyineptitude
    • By Moneyineptitude 13th Apr 18, 11:24 AM
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    Moneyineptitude
    • #9
    • 13th Apr 18, 11:24 AM
    • #9
    • 13th Apr 18, 11:24 AM
    Which is the regulator for the industry
    Originally posted by Nasqueron
    No, that would be the Ministry Of Justice for claim companies.

    The Regulators make the rules and supervise their implementation, but don't generally involve themselves with individual complaints. The FCA similarly is the Regulator of Financial Services, not FOS.

    The Ombudsman service(s) are the independent arbiters of complaints, not Regulators.

    If you want to continue to "debate" such technicalities, I recommend you start a separate thread in future.
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