Help with PPI

[Markyrp]

Hi,

I have recently been contacted by a few Claims Management Companies who I have managed to stop bothering me but as a result I have started looking at the subject a bit more closely.

I have told these CMC's that to my knowledge, I have never had PPI on any loan, credit card, mortgage etc but as apart from my mortgage, I no longer have any active loans or credit cards and no longer have any paperwork for the loans and cards that I have had in the past. One CMC has mentioned an enormous reclaim figure based purely on a mortgage arrangement fee.

I have recently gained a copy of my credit report but I find it very confusing. I have had numerous loans and credit cards in the past and have not always been completely responsible with my finances and have at times missed payments.

One issue does spring to mind was after consolidating debt from a couple of cards to one with a low APR I set up a DD for this card with the intention of forgetting about it until the debt was cleared. Unfortunately I used the card in an emergency and did not realise that this affected the APR which I was getting. It was only about a year later when I realised that out of the couple of hundred of pounds a month I was paying, only a very small amount was coming off the debt and the rest was interest. I never received any correspondence from the card provider to let me know the APR had changed.

I now do not know whether or not to employ one of these CMC's on a no win no fee basis as it will probably cost me about £100 to gain copies of all the loan/card agreements via SAR's. I do not even have account or card numbers to identify the different policies.

Any advice would be appreciated,

Mark

[Jedicris]

Hi,

 

Please do not use a claims company.

 

I would suggest that you pick one likely bank/company to start with and SAR them. It is £10 per BANK/COMPANY not per account.

 

Once you have done the first one, start working your way through the others.

 

Remember, getting and keeping all the money yourself is sweeter than having to pass 30% of it on to someone else.