Well – short story first. . .
As a young adult I took out many loans, each time my bank approved me but on the basis I took out payment protection. At the time – I just said yes, no option to not take it but very much IF you want the loan you have to.
So – moving on 20 years. All these PPI things happening I just though – nopes too long ago etc etc. A friend got something backdated a LONG time – via a company called The Claim Guys.
He passed on the details and I thought I’ve got nothing to lose. . and hadn’t. The costs from them were VERY steep – 30% + VAT. But I thought it was worth it – they will do the work and I’ll either get something or I won’t.
So a call with them led to a bundle of forms to fill in. . .but I thought what the hell and did it.
Everything sent off and nothing from them, so I called to confirm they had the paperwork. The Claims Guy people acknowledged and it was a waiting game. A few weeks later a get a MASSIVE bundle of paperwork from my bank to complete. Called The Claims Guys – who just said sometimes they do and to complete it. So I took the time, filled it all out and back it went.
From this point I’d had NO proactive communication from The Claims Guys – without me calling to check on progress. I got phone calls from my bank to validate information, and called them a few times for updates.
Eventually – I get a confirmation letter from the bank with an offer, which is great news. In the same post was a request for payment from The Claims Guys. Bit miffed at this point as I’d had to call them to progress things, or get updates. . but the minute I get something BINGO a letter requesting payment IMMEDIATELY.
So I’ve no money come through from the bank but an immediate request for money. To make this better, the next working day I get called by The Claims Guys – asking if I’ve got the money and to pay them. So as soon as they want something, they can be bothered to call me.
Overall I can’t complain as I got money I never thought I would, but a lesson for everyone else. .
All that The Claim Guys did was to contact my bank, with basic info of my name, addresses and asked the bank for details of any loans with PPI attached. This triggered the forms from the bank for me to complete + the calls with the bank until completion. I had expected they’d manage communications with the bank and manage the overall process ensuring the best offer for me. But they didn’t – that was ALL down to me. They didn’t update me on how things were going, left that to me. So please learn and DO NOT USE THESE COMPANIES – especially if you expect them to do the “end to end” management. They’ll fill in a form you could, charge you silly money for it – making you feel they can do this better than you and you’ll still have to do the rest. Fill in all the paperwork, chase the bank.
So as a company I’d score them pretty low – when they want your business they’ll call and chase you. But soon as they have it – they are on to the next person. Until you owe them money (which you’ve not even been paid yet!) Then they chase you again. When I did call them I was made to feel I was wasting precious time!
The service they provide – well after going through it I never would again. My wife will be progressing a claim – and we’ll manage that ourselves.
Please learn from my mistake – yes we’ve got money back, but to pay someone £1000’s for filling in a simple request to your bank/lenders. . .don’t fall for it. They add NOTHING over and above what you can do yourselves.