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Topic starter
30/04/2013 12:47 am
Hi again folks.
I'd be interested in your opinions and advice about a situation with a PPI company that drove me finally over the edge and into my current trust deed.
I stupidly paid (on my credit card at the time) nearly £6000 pounds up front to this particular company in August 2010. To cut a long story short, I have received no refund of ppi and only about a quarter of the fees returned when no ppi was discovered. They said they paid them back on to the credit card which is now inactive, as it would be of course as it is one of the creditors involved in my TD. Can they do that ? Pay money back on to a card that is now obsolete ? I have no proof that they have done so and feel as if they could be telling me anything.
Of the two ppi claims still outstanding, I have heard absolutely nothing and that is now almost three years !
Yet about three weeks ago I received a letter from my trustees which accompanied their latest statement of my account with them and which stated that they had employed someone to investigate any outstanding ppi and who subsequently recovered a few hundred pounds with his investigation still ongoing ! How come they can have some modicum of success in apparent jig time, and "my" company who I feel have been stringing me along for three years have come up with zilch ??
No amount of phone calls and e mails to the company concerned have yielded anything but frustration and heartache and if nothing else, please let this be a lesson to anyone out there NOT to be sucked into the world of PPI recovery with the promise of untold riches after a few weeks or months.
For my own part, I cannot believe how stupid I was in paying such money up front which took me to the brink of my credit card limit, which eventually I could not pay and this along with other debts I had at the time,led to the setting up of my trust deed.
I feel this particular company have been, and continue to be so unscrupulous, but my current financial plight renders me helpless to take the fight to them which in turn gives me a feeling of frustration that they seem to be getting away with taking my money off me three years ago with me having next to nothing to show for it except almost financial ruin.
However, the good news is that I will be out of my TD in less than a year and I can start afresh which is something to look forward to.
Maybe the two outstanding claims will be settled by then which will be four years after they started their alleged investigation. I'll not hold my breath !
Sorry for rambling on, but it's good to come on here and see others in similar financial circumstances although how many have been as stupid as me is debatable !
30/04/2013 8:32 am
Hi AD
If there had been any repayment, then this is something your trustee should have checked. If its a repayment to a credit card, they should be able to get this information fairly quickly. If there's been no repayment the the trustee can pursue for repayment of this sum.
Any reclaim should take 5-6 weeks on average I would think and would be surprised if the company were still pursuing this at present.
If you feel you've been mislead, they need to be authorised by the Ministry if Justice. It may be worthwhile raising a complaint.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
30/04/2013 9:34 am
Does sound like you might have been conned, AD. Have you had a scout around on the internet to see if others have had similar problems with the same company?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
Topic starter
30/04/2013 3:56 pm
Hi Mark and Kevin.
Thanks for your concerns.
I actually telephoned the Ministry of Justice and was told that they don't have any jurisdiction outside Wales and England, so being from Scotland they were unable to help, but advised me to get in touch with Citizens Advice.
As for finding out if others are in the same boat with this particular company, well my heart sank. There are so many others with similar horror stories to myself and indeed the company themselves were investigated by a local newspaper and though obviously non Scottish a lot of their customers whose complaints were aired in the newspaper, ARE from up here which the cynic in me thinks is a deliberate ploy by the company knowing that the MOJ is unable to investigate as we are outwith their jurisdiction.
If I tell you one claim was estimated at £1200 to which I paid £360 as a success fee up front (told you I was stupid !) and the actual PPI when found amounted to the princely sum of £70 then you can understand why I feel I have been ripped off big time. And believe it or not, after almost three years, that claim is still ongoing too and apparently I have to make inquiries myself if I want to pursue it further. You couldn't make it up !
It really is the stuff of "Watchdog" proportions, but I have no energy to continue the fight and as I said before, I am counting down the days to next February when my TD is finished and I can start to live again !
Like many others on here, I feel this forum acts as therapy knowing that there are many others in the same boat, and allow me to give an online round of applause to those that are about to come out of their TD and a warm welcome to those on here who are just starting out.
And to you, Mark, Kevin and all the other advisors on here, keep up the good work !
30/04/2013 4:23 pm
You have my utmost sympathies, AD, and thanks for sharing your story on here - it may hopefully prevent others falling into the same trap.
I'm glad our little community on here gives you some comfort and that you have some light at the end of the tunnel courtesy of your trust deed.
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
