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  • FIRST POST
    • 00kitkat00
    • By 00kitkat00 1st May 18, 9:52 PM
    • 22Posts
    • 4Thanks
    00kitkat00
    Using a claims company advice
    • #1
    • 1st May 18, 9:52 PM
    Using a claims company advice 1st May 18 at 9:52 PM
    Hello !!!128075;

    Partner thinks he may have had PPI, can remember companies he has had loans/mortgages with

    Owns no paperwork - Shreds everything the second it arrives so definitely has no record of historic account numbers etc

    Doesnít want to do a claim himself due to not knowing account numbers, impatience, hates paperwork.

    Happy to use claims company, weíve made initial enquiries with one but fee is 25% plus VAT !!!128534; seems at pricey end?

    Can anyone recommend (has a good experience) of using a particular company and a cheaper rate?

    Any guidance appreciated

    Many Thanks !!!128591;
Page 1
    • zx81
    • By zx81 1st May 18, 9:57 PM
    • 18,549 Posts
    • 19,814 Thanks
    zx81
    • #2
    • 1st May 18, 9:57 PM
    • #2
    • 1st May 18, 9:57 PM
    Never use a claims company. You will need to provide them all the information and they will sell you the most expensive stamp you will ever buy.

    Simply write with the details you have to the lender.
    • Tubbss
    • By Tubbss 1st May 18, 10:21 PM
    • 422 Posts
    • 6,980 Thanks
    Tubbss
    • #3
    • 1st May 18, 10:21 PM
    • #3
    • 1st May 18, 10:21 PM
    You dont need to write to a lender - most have an online enquiry form - just enter name, address, previous address etc and they will search their files for PPI records and respond. I filled the online form out on Halifax, Barclays and Lloysa and had a response from all 3 within a week.

    Halifax sent a claim form back with their response, Barclays provided reference numbers and start date/expiry date of the policy (1998 to 2002) and provided details of the online claim form.

    Halifax was sent off 10 days ago, Barclays filled in and submitted the same day and yesterday I had a SMS from Barclays to state my complaint has been upheld and refund on its way within 10 days.

    This is the second time I have claimed PPI refunds and is a lot quicker and easier than when I made my first claims 3 years ago.

    I had no paperwork relating to these historic accounts and no definite dates - all this was provided by the lenders in response to the querie.

    Halifax PPI form took 10 minutes to complete and Barclays even less time.
    Last edited by Tubbss; 01-05-2018 at 10:24 PM. Reason: extra info
    • 00kitkat00
    • By 00kitkat00 3rd May 18, 8:57 AM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    • #4
    • 3rd May 18, 8:57 AM
    • #4
    • 3rd May 18, 8:57 AM
    Ok thanks, he won!!!8217;t do it not at all interested sees a company doing it and giving him 70% back a good deal.
    I!!!8217;ll get motivated and start sending off for him, I!!!8217;ve completed the Northern Rock online enquiry already but could only enter two previous addresses, there are a total of 5 previous addresses so I assume I!!!8217;ll have to complete the form three times?

    Thanks both for the guidance !!!55357;!!!56842;!!!55357;!!!56911;
    • 00kitkat00
    • By 00kitkat00 3rd May 18, 8:58 AM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    • #5
    • 3rd May 18, 8:58 AM
    • #5
    • 3rd May 18, 8:58 AM
    Oops sorry apostrophes all turning themselves into numbers when I post
    • Nasqueron
    • By Nasqueron 3rd May 18, 9:43 AM
    • 5,424 Posts
    • 3,343 Thanks
    Nasqueron
    • #6
    • 3rd May 18, 9:43 AM
    • #6
    • 3rd May 18, 9:43 AM
    Whether he uses a claim firm or does it himself, he still has to do all the work. All they do is post off your complaint with a load of spurious reasons for miss-sale without evidence and hope they get lucky. Banks will have seen the same complaint templates from the CMCs 10,000 times and will be used to rejecting all the reasons that don't apply which kills any credibility the complaint has
    • 00kitkat00
    • By 00kitkat00 10th May 18, 6:06 PM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    • #7
    • 10th May 18, 6:06 PM
    • #7
    • 10th May 18, 6:06 PM
    So far I have only contacted Northern Rock was really easy using the form someone else posted a link to on here. He has had a letter back today confirming he had PPI on one of two accounts with them and given us the account number. Letter advises to contact them if require further info to the selling of the product, is there a template letter for this or do I write to ask why it was sold, other half canít recall what he did last week let alone why he signed up to ppi 20 years ago so not too sure what to say. Any advice?

    Thanks
    • Moneyineptitude
    • By Moneyineptitude 10th May 18, 6:13 PM
    • 20,943 Posts
    • 11,722 Thanks
    Moneyineptitude
    • #8
    • 10th May 18, 6:13 PM
    • #8
    • 10th May 18, 6:13 PM
    do I write to ask why it was sold
    Originally posted by 00kitkat00
    No, you write and tell them how you think the insurance was somehow mis-sold to you.
    other half canít recall what he did last week let alone why he signed up to ppi 20 years ago
    Originally posted by 00kitkat00
    That makes any complaint somewhat problematical.
    • 00kitkat00
    • By 00kitkat00 10th May 18, 6:18 PM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    • #9
    • 10th May 18, 6:18 PM
    • #9
    • 10th May 18, 6:18 PM
    No, you write and tell them how you think the insurance was somehow mis-sold to you.
    That makes any complaint somewhat problematical.
    Originally posted by Moneyineptitude
    Exactly what I thought! do I just try under Plevin due to his memory issue? All they!!!8217;ve provided me with so far is the account number do I first need to ask for the dates and a copy of the agreement (likely from the 1990!!!8217;s)

    Thanks for your help
    • 00kitkat00
    • By 00kitkat00 10th May 18, 6:33 PM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    Or do I use this form http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/PPI-consumer-questionnaire.pdf and post it to NRAM (Northern Rock) sorry for all the questions, I!!!8217;m sure once I!!!8217;ve done one I!!!8217;ll be away and have the confidence to crack on with the others
    • Moneyineptitude
    • By Moneyineptitude 10th May 18, 7:07 PM
    • 20,943 Posts
    • 11,722 Thanks
    Moneyineptitude
    do I just try under Plevin due to his memory issue?
    Originally posted by 00kitkat00
    Plevin only applies after a PPI complaint has been rejected and may not even apply at all.

    You don't need the Agreement (and won't get it anyway, thirty years on)
    • 00kitkat00
    • By 00kitkat00 10th May 18, 9:03 PM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    Iíve printed and completed the form on ombudsman website (consumer questionnaire) and popped in an envelope ready to send back to NRAM (Northern Rock) in the morning.
    Have also completed the query forms on all bank/lenders websites he recalls having a credit card with. Doesnít think it was on any mortgages so not bothering there. So ball is rolling have told him Iíll only charge 25% commission no VAT in seriousness I think it will be used to top up weak pensions.

    Thank you and others who encouraged us to give it a shot, will update any successes.
    • 00kitkat00
    • By 00kitkat00 27th Jun 18, 10:54 PM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    Update; we have one offer still waiting on another company to come back to him.

    £2,000 PPI amount of premiums on a loan
    £1800 Interest at 8% on premiums
    £350 Less tax deducted at 20% from interest
    £1420 net interest received

    Total refund offered £3450
    (Note figures changed slightly just for security purposes)

    I worked out the claims company would have taken around £1250 of this (presuming they take 25% plus VAT on ppi amount plus the same on gross interest owed) which oils have left him with £2200 as oppose to £3500 so thanks all for the encouragement to go it alone, it was as easy as you said

    My question now is (he needs to send back acceptance to their offer) is there anyway we can prevent them taking tax on the interest to avoid later having to reclaim from HMRC - I understand you can earn £1000 in interest a year before tax so presumably they should only tax the £800 as oppose to the £1800 (he has no monies earning interest elsewhere).

    Can we send proof to the company to prevent the deduction or do I advise he signs returns gets the cash then reclaim excess tax paid on the interest from HMRC?
    • Moneyineptitude
    • By Moneyineptitude 27th Jun 18, 11:21 PM
    • 20,943 Posts
    • 11,722 Thanks
    Moneyineptitude
    Can we send proof to the company to prevent the deduction
    Originally posted by 00kitkat00
    I'm afraid not.
    However its simple enough to have the tax refunded if he is a non-taxpayer. Contact HMRC.
    • 00kitkat00
    • By 00kitkat00 28th Jun 18, 8:39 AM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    I'm afraid not.
    However its simple enough to have the tax refunded if he is a non-taxpayer. Contact HMRC.
    Originally posted by Moneyineptitude
    Thanks will get acceptance sent back. He does pay tax in UK so will just be claiming the tax back on the interest up to value of £1k from HMRC as no savings interest elsewhere
    • dunstonh
    • By dunstonh 28th Jun 18, 2:01 PM
    • 94,460 Posts
    • 62,399 Thanks
    dunstonh
    I used The Fair Trade Practice to claim, and so far, I have been awarded over £4000. Yes I've paid about a third in fees and vat but apart from the inital forms and trying to remember back 30 years, they have worked hard on my behalf.
    What is your definition of working hard?

    They got you to supply the information to them which they put on their form that will look the same as those you download from the internet for free. They send it to the same free of charge complaints address you would use. They then sit back and wait for the response.

    So, the cost of a piece of paper, an envelope and a stamp and about 10 minutes of work done by an unqualified student or mum earning a bit of money. Yet so far, you have paid over a thousand pounds for that.

    I suppose if you have been missold PPI then you are an easy target for 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.
    • 00kitkat00
    • By 00kitkat00 28th Jun 18, 4:33 PM
    • 22 Posts
    • 4 Thanks
    00kitkat00
    What is your definition of working hard?

    They got you to supply the information to them which they put on their form that will look the same as those you download from the internet for free. They send it to the same free of charge complaints address you would use. They then sit back and wait for the response.

    So, the cost of a piece of paper, an envelope and a stamp and about 10 minutes of work done by an unqualified student or mum earning a bit of money. Yet so far, you have paid over a thousand pounds for that.

    I suppose if you have been missold PPI then you are an easy target for a CMC.
    Originally posted by dunstonh
    I think you have taken that original quote off another thread as I canít see that anyone who replied to me responded advising they had used a claims company, all advice was geared to do it yourself which we did
    • dunstonh
    • By dunstonh 28th Jun 18, 4:47 PM
    • 94,460 Posts
    • 62,399 Thanks
    dunstonh
    I did reply to the almost the same post that was made on this thread. It has since been removed by the board. So, my reply looks orphaned now.
    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 28th Jun 18, 5:22 PM
    • 5,424 Posts
    • 3,343 Thanks
    Nasqueron
    I think you have taken that original quote off another thread as I canít see that anyone who replied to me responded advising they had used a claims company, all advice was geared to do it yourself which we did
    Originally posted by 00kitkat00
    Some chump was promoting a claims company that looked like spam so it's been deleted
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