PPI Claims Scotland Tucan Claims | Beware as they have been suspended
Recently the MOJ told Tucan Claims that they cannot take on any new clients but unfortunately this does not appear to affect the company when dealing with ppi claims for people from Scotland.
The warning to people in Scotland is that this company charges you upfront fees so be warned stay clear if you are approached by this company as many clients have been waiting months for a refund and still received nothing.
This is not an isolated case as over 700 claims management companies have either given up their licence or had their licence revoked by the MOJ in the last year so it is important for people to select a good claims management company.
So why should people in Scotland be exposed to this company when all the rest of the UK are protected and we are unclear as to the reasons why and only the MOJ will be able to answer this question.
One thing is for sure if you are making ppi claims and live in Scotland you need to ensure you do not use this company.
Tucan Claims has also not sent in its annual accounts to companies’ house at the time of writing this article and based on this we would think their licence would be revoked sooner rather than later unless they submit their accounts very soon.
By paying upfront fees to this or any other company shows you are running the risk of not getting your money back and not getting your mis sold ppi case looked into in the proper manner.
So the simple answer is do not pay upfront fees.
As the pressure grows on claims management companies I believe more and more will either give up their licence or have them revoked so be careful when selecting one to do your missold ppi claim for you.
Things to consider are
Do they advertise in any form and if so they will always have to comply with the rules and this is where we believe many will be caught out in the future by the MOJ and will run the risk of losing their licence.
Do they charge more than 15% as we also believe this will come under serious scrutiny by the MOJ especially for ppi reclaims and do they charge upfront fees as again we believe this will come under serious scrutiny by the MOJ in light of Tucan Claims and the amount of clients that still has not had their monies returned.
At present claims management companies are not required to hold professional indemnity insurance and again we think this will come under the spot light very soon so if you are using a claims management company ask them if they have PI insurance and if not stay clear.
PPI Claims Scotland need to be brought into line with the rest of the UK as soon as possible to help protect the Scottish public so always remember to ask some serious questions before you sign up to any claims management company.