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  • FIRST POST
    • WELLDAFT
    • By WELLDAFT 7th Aug 18, 11:52 AM
    • 1Posts
    • 0Thanks
    WELLDAFT
    I do all the Donkey Work but CMC still want commision ?
    • #1
    • 7th Aug 18, 11:52 AM
    I do all the Donkey Work but CMC still want commision ? 7th Aug 18 at 11:52 AM
    My wife registered with CMC and for a long time, Nothing....then I get a phone Call from LLOYDS and went through a whole load of PPI questions, I then get a letter from LLOYDS advising me I would get a cheque, which duly comes, not a lot about 500, cheque was for wrong name.
    I start getting letters from CMC and multiple phone calls and texts from them seeking their cut, each contact was met with same information that they should sort out cheque with LLOYDS in accurate name, they would then get money.
    Eventually 2 days ago another call, they could have told me this weeks ago, that they cant request a name change, I'll have to do that and contact LLOYDS direct, I asked why I would have to do that when the whole point of getting them as a third party involved is to save my wife and I any effort, they are looking for a third of the cheque value, I reckon 33% should result in at least a bit of effort on their part, the only thing they have been proactive about so far is getting their 33%.
    I have contacted LLOYDS today and they have assured me they will send an amended cheque out.
    Why should I give CMC anything from cheque amount?
Page 1
    • zx81
    • By zx81 7th Aug 18, 11:58 AM
    • 18,047 Posts
    • 19,257 Thanks
    zx81
    • #2
    • 7th Aug 18, 11:58 AM
    • #2
    • 7th Aug 18, 11:58 AM
    Because you agreed to.

    All a CMC does is post your complaint off for you. It seems they did that, so you will need to pay them for their services.
    • dunstonh
    • By dunstonh 7th Aug 18, 12:22 PM
    • 93,892 Posts
    • 61,677 Thanks
    dunstonh
    • #3
    • 7th Aug 18, 12:22 PM
    • #3
    • 7th Aug 18, 12:22 PM
    Why should I give CMC anything from cheque amount?
    Because you entered into a contract to employ them to do this.

    Finding out after the event just how little a CMC actually does is too late. That is why this forum repeatedly tells people not to use CMCs.
    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.
    • Moneyineptitude
    • By Moneyineptitude 7th Aug 18, 12:28 PM
    • 20,762 Posts
    • 11,594 Thanks
    Moneyineptitude
    • #4
    • 7th Aug 18, 12:28 PM
    • #4
    • 7th Aug 18, 12:28 PM
    Why should I give CMC anything from cheque amount?
    Originally posted by WELLDAFT
    The very real threat of court action against you should be the main reason. You have signed a legally binding contract with the firm to do exactly what they have done, represent you in your PPI complaint.
    • ~Brock~
    • By ~Brock~ 7th Aug 18, 1:57 PM
    • 1,585 Posts
    • 1,479 Thanks
    ~Brock~
    • #5
    • 7th Aug 18, 1:57 PM
    • #5
    • 7th Aug 18, 1:57 PM
    Don't worry, from next year the FCA will regulate claims firms, meaning that they will fall under similar statutory remits (and FOS jurisdiction) to the financial services industry that their parasitic practices target.

    This means that there will be the same complaints and redress route against them that they currently exploit against others. We may well see the emergence of a claims industry claims industry.

    You really couldn't make this $#1 up !!
    • antrobus
    • By antrobus 7th Aug 18, 2:03 PM
    • 15,840 Posts
    • 22,565 Thanks
    antrobus
    • #6
    • 7th Aug 18, 2:03 PM
    • #6
    • 7th Aug 18, 2:03 PM
    Regulation passes to the FCA on 1 April 2019. The PPI deadline is 29 August 2019.

    Small window.
    • dunstonh
    • By dunstonh 7th Aug 18, 4:01 PM
    • 93,892 Posts
    • 61,677 Thanks
    dunstonh
    • #7
    • 7th Aug 18, 4:01 PM
    • #7
    • 7th Aug 18, 4:01 PM
    Regulation passes to the FCA on 1 April 2019. The PPI deadline is 29 August 2019.

    Small window.
    Originally posted by antrobus
    Small window for PPI. However, I wouldnt be surprised to see a stockmarket crash in 2019 or thereabouts. I bet you that CMCs will try it on with investments. i.e. "has the value of your investment fallen, then you can claim....". We are also seeing SIPP adverts too. That is a pain as the majority of SIPPs are fine. However, that want stop the try-it-ons.
    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.
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