Have I made a mistake?? Signed agreement with company!!!

[domflanuk]

Hi,

 

I found a website on friday offering to recover bank charges for 15% of the recovered monies.

 

I printed and signed an agreement and sent off copies of 6 yrs bank statements!

 

They dont respond to phone calls and i am concerned they may be a [problem]!

 

They are called "claimyours"

 

Can i cancel this agreement and claim by myself?

 

Could do with some help or advice

 

Thanks!

[thecornflake]

I won't bother pointing out the reasons why you shouldn't have done this. I'm sure someone else will at some point.

 

You can do a whois on the website to find out the name and address of who owns it, which may help.

 

Do you have a copy of the agreement you signed? If it's in any way legitimate you should have some kind of cooling off period. It may also be covered under the distance selling regulations although this usually covers buying goods online and gives people the right to a full refund within 14 days. It may apply to signing agreements, I'm not sure.

 

Presumably you have not paid anything, therefore if it is dodgy I would imagine it would be a ploy to obtain personal details from yourself. Is the account your main account? If you do suspect it and you still use the account I would strongly recommend opening an account elsewhere and preparing to change accounts.

 

EDIT: I found this Claimyours - Blagger.com - The place to leave feedback and comments about companies you have used

which seems to point to it being a legit company. However you should consider the fact that there is more than enough support and information available on this forum in order to do the claim yourself.

 

The domain name is newly registered (17th Jan 2007) which means they have only just started the website (this does not mean they are a new company however).

 

The agreement on their site gives your bank the authority to provide them with information about your account whenever they request it.

 

Personally this would make me think twice about it, although it would be required for them to do the claim for you it's not something I'd be happy with.

[domflanuk]

Thanks

 

I am considering writing to them to withdraw consent

 

It would help to know if they were legit or not but i guess i dont have the luxury!

 

thanks for your help

[Andy S]

Before signing up with a 'No Win No Fee' company there are a couple of basic checks you should make. I have set these out in my:

 

11 Steps To Check Whether A 'No Win No Fee' Company Is A Safe Bet Or To Be Avoided At All Costs?

 

1. Are they are Limited Company?

I know it doesn't cost much to set one up but a [EDIT] is less likely to bother. Check they exist via

WebCHeck - Select and Access Company Information.

 

2. Are they Data Controller registered with the Information Commissioner?

You want to know that they are handling your data securely and in accordance with the DPA. A [EDIT] is not likely to bother with this. Check they are registered via the Information Commissioners - Data Protection Public Register

 

3. Is it a checkable address or an accomodation address?

If their address is at a business centre they may be using an accomodation address who are forwarding the mail onto them at a 'drop' address. This is to give the impression that they are a big company where the truth could be that they are operating from a bedsit or back room.

 

4. Is it a 01/02 BT number or a 0870/0845 number.

0870/0845 numbers are free these days however many legitimate companies use them. If you are dubious ask for an alternative phone number from them. A genuine company will agree to this with no questions asked.

 

5. Do they answer the phone or are they hard to get hold off?

A professional company will always answer the phone within 2-3 minutes. If you cannot get hold of them during their advertised office hours then this is not a good sign. Either they are ignoring your calls or they are too busy to deal with you. Either way a company behaving like this is not one you want to deal with.

 

6. Are they VAT registered?

Not hugely important but again another positive step in confirming that the company you are dealing with is legitimate.

 

7. Is the information they send you well presented or does it look like something a 4 year old knocked up on Daddy's computer?

With printers and software being so advanced these days it is easy for anyone to knock up a professional looking letter in minutes. Presentation is everything so if it's on poor quality paper with bad printing then this is not a good sign as a professional company will want to promote a professional image.

 

8. Are they asking for any upfront fees?'

No Win No Fee' means exactly that! Beware of companies that lure you in then ask for 'administration' or 'registration' fees. Do not pay any up front fees - this is why you have employed a N-W-N-F company in the first place.

 

9. Do they issue a contract?

This is an essential. They should issue you with a contract which sets out the Terms of Business between you and them. Read the small print. Do they mention a cancellation period? They are obliged to offer you a 14 day cancellation period under the Distance Selling Regulations. Is there an early cancellation fee? Beware you may cancel and owe them £100's of pounds. Read the small print again, again and again. Then check it once more for good measure. If there's anything you are unsure about phone the company and ask or take independant legal advice before signing.

 

10. Are they charging a favourable commission rate?

a) Any company charging 5, 10 or 15% commission are kidding themselves on. They are most likely hobbyists working from a back bedroom playing at running a business. The reason for this is that any legitimate business has overheads and working for such low commission is not financially viable. I have done the maths. Such low commissions point towards them being desperate for your business and desperate means poor. Do they have the financial stability to meet the costs of dealing with your claim? I doubt it - Avoid at all costs!

 

b) Anyone charging 30% commission or over is blatently trying to rip you off so avoid at all costs! I have seen companies charging 40% commission PLUS VAT. You might as well give them all your bank charges instead of to your bank.

 

c) Around 15 - 25% commission is a fair amount for the work involved. I would stick to companies like this as they obviously are not trying to rip you off and are probably legitimate especially if the previous answers have been positive.

 

AND FINALLY

 

11. Does it feel right dealing with them?

Very often your own instincts are a powerful 'early warning' system. If they 'feel' dodgy or you are uncomfortable with the way they present themselves then STOP!!! Go find another company that scores higher in these 11 questions.

 

 

Score - How did they rate?

1 - 4 positive answers: AVOID LIKE THE PLAGUE!!!. Are they identity thiefs, [problematic] or students working from a back bedroom? You have no way of knowing. Do you really want to risk giving your personal financial details to a company like this. I hope the answer is 'No'.

 

4 - 7 positive answers: A better score but treat with ultra caution. Phone them, talk to them, try and suss them out. If in doubt avoid - I would!

 

7 - 11 positive answers: Go for it! They seem to fit the bill and you are most likely to be dealing with a decent honest company that pays it's taxes on time! Within 8-12 weeks you should be staring at a cheque for your refunded bank charges (minus their commission charge). Bank it and spend it wisely. Oh and avoid getting future bank charges - you may not be so lucky the next time!

 

Finally this guide is only meant as a light hearted personal opinion and the Consumer Action Group cannot and will not be held liable in any shape or form if you or any party acting for you suffer any financial losses as a result of following this advice.

[domflanuk]

Excellent post, very helpful thanks!

 

For those who may wish to know

 

claimyours is the dot co dot uk site/company in question

 

In answer to one of those questions - The website looks very professional... more so than many i have seen so far!

 

I cant find much more info on them at the mo

[mattyb13]

In reply to Andy S' post in point 1 i have found this WebCHeck - Select and Access Company Information

 

and point 2 this

http://www.esd.informationcommissioner.gov.uk/esd/DoSearch.asp

 

hope this helps, i think it points to them being ok, ithink?

 

EDIT. sorry 2nd link didnt work but i typed their postcode which is GL6 9DG to the search

[domflanuk]

If i read that correctly that doesnt sound good!

 

Looks like my money is a goner!?!?!?

 

Any advice for a man about to lose his money?

 

My bank charges total £1,233.00

 

so i stand to lose a tidy sum there!

[Andy S]

You won't lose your money as it will most likely be paid directly into your bank account by your bank anyway if you win the claim. The worst that can happen is that the company make a mess of the claim and you end up having to sign up with another NWNF company or DIY.

 

Obviousy there is a small chance that the bank will pay the claims company direct but most of time they opt to pay the settlement figure to the customer as they have to comply properly in terms of any dispute reolution service they have subscribed to.

 

My previous post is really to open people's eyes to the dangers of signing up to some company they know nothing about and how easy it would be for [problematic] to get your details. There are a lot of people out there who are naive and would never think of checking the 11 steps I have mentioned. If my post stops one of them getting stung then it has been worthwhile.

 

If anyone is wondering how you can get stung as it's a 'No Win No Fee' scenario then think of it this way. The worst case scenario is that you supply your home address, possibly date of birth, account details, account no, sort code etc. You would also be providing a signed mandate or letter of authority to allow them to deal with your bank. Armed with this information a [EDIT] could easily raid your bank account AND obtain false documents in your name. In other words they could steal your identity and make your life hell.

 

Another scenario is that you end up dealing with someone running this from their back bedroom. Desperate for a quick buck they offer attractive low fees but end up not having the money to support the volume of business that their low fees have brought. They may end up asking you for fees up front. However, can you be certain they are dealing with your claim properly? Are they sending everything recorded delivery?, how are they storing your information?, who has access to it?, are they disposing of it properly?, how much experience do they have?, will they follow the claim through to the end?. There is a chance they will make a mess of the claim and waste 3 months of your life by claiming the wrong amount, forgetting about the interest or even accepting only a partial offer, all of which are clearly not in your best interests.

 

The last scenario is that I have been wrong and that although they look dodgy as hell, they turn out to be alright. You get all your charges refunded plus interest and a Xmas card from them every year for the next 10 years (I hope that this turns out to be the case.). However if you take the steps I mentioned before deciding on a NWNF company then you will minimise the chances of getting stiffed in the first place.

[mattyb13]

You won't lose your money as it will most likely be paid directly into your bank account by your bank anyway if you win the claim. The worst that can happen is that the company make a mess of the claim and you end up having to sign up with another NWNF company or DIY.

 

Obviousy there is a small chance that the bank will pay the claims company direct but most of time they opt to pay the settlement figure to the customer as they have to comply properly in terms of any dispute reolution service they have subscribed to.

 

My previous post is really to open people's eyes to the dangers of signing up to some company they know nothing about and how easy it would be for [problematic] to get your details. There are a lot of people out there who are naive and would never think of checking the 11 steps I have mentioned. If my post stops one of them getting stung then it has been worthwhile.

 

If anyone is wondering how you can get stung as it's a 'No Win No Fee' scenario then think of it this way. The worst case scenario is that you supply your home address, possibly date of birth, account details, account no, sort code etc. You would also be providing a signed mandate or letter of authority to allow them to deal with your bank. Armed with this information a [EDIT] could easily raid your bank account AND obtain false documents in your name. In other words they could steal your identity and make your life hell.

 

Another scenario is that you end up dealing with someone running this from their back bedroom. Desperate for a quick buck they offer attractive low fees but end up not having the money to support the volume of business that their low fees have brought. They may end up asking you for fees up front. However, can you be certain they are dealing with your claim properly? Are they sending everything recorded delivery?, how are they storing your information?, who has access to it?, are they disposing of it properly?, how much experience do they have?, will they follow the claim through to the end?. There is a chance they will make a mess of the claim and waste 3 months of your life by claiming the wrong amount, forgetting about the interest or even accepting only a partial offer, all of which are clearly not in your best interests.

 

The last scenario is that I have been wrong and that although they look dodgy as hell, they turn out to be alright. You get all your charges refunded plus interest and a Xmas card from them every year for the next 10 years (I hope that this turns out to be the case.). However if you take the steps I mentioned before deciding on a NWNF company then you will minimise the chances of getting stiffed in the first place.

 

there is a paragraph on the online form that you fill in and sign stating that you wish all recovered monies be paid directly to the company.

 

this is the paragrarh i have copied from the form

 

Please arrange to send a cheque directly to 'Claim Yours' in relation to any financial settlement that resolves this matter. I/We understand Claim Yours will send me/us payment equal to 85% of the charges reclaimed (plus 85% of any applicable interest) from this final settlement fee within 7 days of them receiving it from you.

 

I too filled in an online form with this company, as to be honest i have never been very good at things like this. i havent sent any statements off as yet but i did sign the form.

 

they surely will have access to my account. That doesnt bother me too much because nothing goes in/out of this account as it is just open because i had a £1200 overdraft and i transferred my wages to a different account because i was getting annoyed at the charges, lol.

 

What I am worried about is that they may well reclaim my bank charges and i may never see them. I do not have any statements for this account but estimate the charges to be in excess of £2500.

 

can anybody recomenned what my next course of action should be(if i have one)

[Guest NATTIE]

No comment on No Win No Fee:D

[thecornflake]

can anybody recomenned what my next course of action should be(if i have one)

 

I would suggest writing to your bank revoking the access and sending the same to the company. Then at least you're covered as if they do take money out you don't have a lot to fall back on if you gave them access to your account/details.

[domflanuk]

I have phoned HSBC telling them not to disclose information or pay money to claimyours

 

i have also wrote to claimyours advising of withdrawal of permission to act on my behalf, i signed agreement 4 days ago so i think i am within my rights

 

I am now going to pursue my claim by myself

[domflanuk]

I also wrote to HSBC advising of the same, and attached a copy of the letter of withdrawal of permission to act that i sent to claimyours!

 

Through the help of people on this forum it appeared the company address of claimyours had a different company name previously which was closed down for not paying a client £14,000

 

Definitely sent off alarm bells and prompted me to cancel all action!

 

thanks to those who have advised me with this

 

And to all those planning on instructing NWNF companies.... dont! Especially claimyours!!!! Or at least make sure they answer the phone!!!

[mattyb13]

like i said earlier, i too sent details off to claimyours. i have phoned them and got their answerphone as usual, i left a message informing them i wish to cancel my consent, i also recorded the message, i also sent them an email and im going to send them a letter.

 

I am also going to go ahead myself and try to reclaim my charges. to be honest i am terrified i am going to mess up. i have 2 banks to claim from, abbey and lloyds. would you recommened i done 1 at a time or both together.

 

thanks for all the help and advice received so far, it seems a very helpful and friendly place.

 

matt

[Guest NATTIE]

good on you keep the claim for yourself 100%

[domflanuk]

Dont worry MattyB, I am claiming from 2 banks aswell... HSBC and RBOS!!!

I am worried but from reading on these forums it seems like if you just follow the process and stick with it you will be successful!

I think the most scary thing is that you may have to go to court but i guess we are in the right here so we should stick to our guns! At the end of the day i have lost £1500 in total over the past 6 years which is a lot of money when you think about it! and thats not including the interest either!!!

 

Good luck

[chubbs20uk]

hi

 

i have also started a claim through claim yours i did ring them and leave a message on there anser machine they did ring me back same day but from a mobile fone still have the number i am gonig to ring them tomorow to c if i can cancel my claim through them after reading all this but i think it is after the 14 days although it does not say u have 14 days anywere on the form u send them so can they stop me cancelling many thanks.

 

chubs20uk.

[domflanuk]

I think the 14 days is a legal thing but like you say there is nowhere that says the terms of the agreement so there is nothing that they can use to enforce it!

 

If you want to stop the agreement you should contact your bank immediately and advise them not to deal with claimyours or disclose information or money to anyone, then write to or email claimyours and advise them you have cancelled permission to act on your behalf.

 

They responded to me and apologised after i cancelled and emailed them telling them what i thought of them, but it was too late by then!

 

I think they basically they have other full time jobs and just do this as a part time earner on top!!!? They do not have any law qualifications, they are not authorised by the FSA to handle money, they are no more qualified than anyone on this forum... or thats how it appears anyway!

 

I have claimed by myself from two banks and just received full settlement from one of them. Its easier than it seems, just follow the advice in this forum and you cant fail, and then you get 100% of your moeny too!

 

Good luck