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  • FIRST POST
    • dannyjebb
    • By dannyjebb 13th Jun 19, 10:30 AM
    • 410Posts
    • 85Thanks
    dannyjebb
    Ppi fee cap
    • #1
    • 13th Jun 19, 10:30 AM
    Ppi fee cap 13th Jun 19 at 10:30 AM
    Hi all,

    If a claims company had a letter of authority signed in October 2018.

    Would this mean the fee cap is 25% we aren't sure the exact date they rang her initially.

    Also is a single page stating the name of the bank and my gran has written her adreess and signed it. The letter states she gives authorisation for this company to be the sole people to make her claim.

    Am I able to share a copy of this LOA on here for someone to check? It doesn't list and terms and conditions or say explicitly what the fee is?

    They have currently charged her 39%

    Many thanks

    Danny
Page 1
    • Moneyineptitude
    • By Moneyineptitude 13th Jun 19, 10:45 AM
    • 24,752 Posts
    • 14,285 Thanks
    Moneyineptitude
    • #2
    • 13th Jun 19, 10:45 AM
    • #2
    • 13th Jun 19, 10:45 AM
    They have currently charged her 39%
    Originally posted by dannyjebb
    In your original thread, two weeks ago, the fee was 50% and your grandmother was adamant that she had never signed anything.
    https://forums.moneysavingexpert.com/showthread.php?t=6007094

    You can't post links to the LOA for someone here to "check", but as the Bank have already accepted it's validity there would be little point.

    If the contract was put in place before the cap then the cap will obviously not apply. It's this contract which will contain T&Cs and the % fee charged. Why haven't you asked the company to provide a copy of that?

    EDIT:
    Remember that the fee is a percentage of the gross redress before any tax and that VAT is charged in addition to that. The fee cap is actually 20%, but that effectively becomes 25% with the VAT.
    Last edited by Moneyineptitude; 13-06-2019 at 11:00 AM.
    • dannyjebb
    • By dannyjebb 14th Jun 19, 6:57 AM
    • 410 Posts
    • 85 Thanks
    dannyjebb
    • #3
    • 14th Jun 19, 6:57 AM
    • #3
    • 14th Jun 19, 6:57 AM
    Hi

    Yes originally I thought it was 50% but after the advice on the forum I realised it was less than this. Their website still advertises the fee at 39%

    So alongside the LOA they should also have a signed agreement which states how much the fee will be? It's taken me a week to get them to send me this, and I did ask for all signed documents they have and this is the only one sent.

    Thanks

    Danny
    • Nasqueron
    • By Nasqueron 14th Jun 19, 8:36 AM
    • 7,603 Posts
    • 4,840 Thanks
    Nasqueron
    • #4
    • 14th Jun 19, 8:36 AM
    • #4
    • 14th Jun 19, 8:36 AM
    Send them a SAR (request for all the data they hold on you). They have to respond to this by law and provide you with it within a set period (might be 30 days now, can't be bothered to look it up)
    the concept of a United States of Europe is right. Winston Churchill 1930
    I think that the Government are right to apply to join the European Economic Community... -Winston Churchill 1961
    The future of Europe if Britain were to be excluded is black indeed.
    - Winston Churchill 1963
    • Moneyineptitude
    • By Moneyineptitude 14th Jun 19, 10:10 AM
    • 24,752 Posts
    • 14,285 Thanks
    Moneyineptitude
    • #5
    • 14th Jun 19, 10:10 AM
    • #5
    • 14th Jun 19, 10:10 AM
    So alongside the LOA they should also have a signed agreement which states how much the fee will be? It's taken me a week to get them to send me this, and I did ask for all signed documents they have and this is the only one sent.
    Originally posted by dannyjebb
    Why did you only ask for signed documents? Ask them for everything on file and especially the terms and conditions/contract. If Gran agreed over the 'phone you could request the recording manuscript.

    What you need to do is make a formal complaint that there has been a regulated fee cap of 20% since July last and that they shouldn't be charging any more than this. If they reject this complaint, this gives you access to the Ombudsman which should stop all this one way or the other...
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