Your best claims management company cancellation rights in the UK
As more and more people are submitting ppi claims through claims management companies and discovering they could get the service much cheaper if they win their case they are starting to look at the cancelation policy of claims management companies.
If you are paying 25% or more as a success fee you are likely to be one of them so what can you do?
Firstly the Ministry of Justice sets the guidelines which all claims management companies have to work to and below is some of the information you should be aware of.
Everybody has 14 days cancelation rights under the terms and conditions but please be aware that the distance selling regulations stipulate that your 14 days start from the day you sign and date the terms and conditions not when you post them or when they are received if you use recorded or special delivery post.
So if you have not passed your 14 days cancelation period then get it done either by letter or email, if by post make it recorded or special delivery so you have proof but remember it is 14 days from you signing and dating the agreement.
The next thing you can do if you are beyond this point is write to the company who is dealing with your ppi claims requesting a Data Subject Access Request which they must provide within 40 days and ask them for a cost for cancelling the agreement at the same time.
You should receive your cost long before you receive a copy of your file and if happy you can then cancel if not you can wait until you obtain the file then look through it to see if you agree with the charges that are being levied against you.
At this point remember missold ppi claims are relatively straight forward so check the terms and conditions of your contract as claims management companies will either have their cost as an hourly rate or a fixed sum. The charges that are levied must be constructed as part of fair terms and if unfair terms you will be able to challenge them.
The reclaim ppi process is straight forward so for dealing with your initial enquiry you can expect to pay somewhere in the region of £50 in my opinion unless it is more complex and you have taken staff time up. If more complex £100 maximum should be suffice.
Reading and checking application 30 minutes maximum and producing a letter also 30 minutes so an hour for this also, if the claim has proceed further then you could pay more but way this up with what you expect to get back for your ppi claims as sometimes you could still save thousands by switching claims management companies.