arsenal Posted April 11, 2013 Share Posted April 11, 2013 Has anyone had calls on this from company's on this subject. Endowment short fall if your entitled to a refund They will do all the necessary paperwork. And if your claim is successful.They will take 42% commission Link to comment Share on other sites More sharing options...
esme Posted April 11, 2013 Share Posted April 11, 2013 Sounds like another PPI type rip off to me, if you think you are entitled to a refund for this then the first stop should really be the Financial Ombudsman for advice Besides of you have a shortfall and these guys manage to plug it for you and then take 42% of that as a fee, you are going to still have 42% of the shortfall you had before So better but not perfect, And if they fail to get anything will they still want paying or are they one one these no win no fee agencies ? Link to comment Share on other sites More sharing options...
172-125 Posted April 11, 2013 Share Posted April 11, 2013 You need to get in touch with the company itself, don't pay anyone to do it for you, most of the companies involved now have procedures in place to help you. 4 years ago we were approached by one of these companies offering help with regards to PPI mis selling, we found out my hubby was entitled to claim, they wanted 30% commission,because my hubby no longer had the policy number he contacted Barclays who advised him to write to them and not use that 3rd party company. 9 months later he received a cheque from Barclays for nearly £2,000 some of which was an agreed compensation amount. It cost us the price of 2 stamps. Don't use anyone else, its your money you have already paid out, if you are entitled to it claim it back and good luck Link to comment Share on other sites More sharing options...
arsenal Posted April 11, 2013 Author Share Posted April 11, 2013 Sounds like another PPI type rip off to me, if you think you are entitled to a refund for this then the first stop should really be the Financial Ombudsman for advice Besides of you have a shortfall and these guys manage to plug it for you and then take 42% of that as a fee, you are going to still have 42% of the shortfall you had before So better but not perfect, And if they fail to get anything will they still want paying or are they one one these no win no fee agencies ? No Win No Fee.Do you 42% is extortionate Link to comment Share on other sites More sharing options...
boyfriday Posted April 11, 2013 Share Posted April 11, 2013 No Win No Fee.Do you 42% is extortionate Here's a link to the Financial Ombudsman questionnaire that a claims company would ask you to complete. http://www.financial-ombudsman.org.uk/consumer/form/mortgage-endowment-questionnaire.pdf Link to comment Share on other sites More sharing options...
arsenal Posted April 12, 2013 Author Share Posted April 12, 2013 Sounds like another PPI type rip off to me, if you think you are entitled to a refund for this then the first stop should really be the Financial Ombudsman for advice Besides of you have a shortfall and these guys manage to plug it for you and then take 42% of that as a fee, you are going to still have 42% of the shortfall you had before So better but not perfect, And if they fail to get anything will they still want paying or are they one one these no win no fee agencies ? Sorry did not explain .I have that already been paid out on policy.which did have a short fall Link to comment Share on other sites More sharing options...
andyofborg Posted April 12, 2013 Share Posted April 12, 2013 Sorry did not explain .I have that already been paid out on policy.which did have a short fall The issue isn't whether or not you had a shortfall. but whether or not the endowment product was correctly sold to you. I was under the impression that the window for claiming was now closed but I could be wrong. As others have said 42% is nothing short of extortionate. They may feel they have found a loophole which allows them to submit a claim but since the fee from the winning claims has also to cover the costs of handling the losing claims then the rate suggests they aren't very confident about their chances. Also, I think I'd be worried that this was a lead into some sort of scam rather than a genuine offer to help. If you are interested in claiming then there are sites which give you all the letters and things to do for free, so I'd be tempted to give them a try. But do remember that the amount of compensation isn't related to the shortfall but the difference between what you would have paid on a repayment mortgage against what you did pay/receive from your endowment. Link to comment Share on other sites More sharing options...
arsenal Posted April 15, 2013 Author Share Posted April 15, 2013 Thank you all for your replys. I've decided not go ahead with the Company Will look into it my Self .. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.