PPI Payout

[Banksy13]

So having bugged DH for years to see if he had PPI to reclaim I finally convinced him just to let a claims company check for him as he was never going to bother otherwise. Roll on a few months and we get a letter from Lloyd's saying they're paying us £1800. That £1800 has now shown up in our joint account but I don't know what happens with the claims company's share. Do I now need to pay them their 24%? I had assumed we'd just get the money from them less their fee but we seem to have been paid directly by the bank.

You’ll need to pay the claims company. The banks contract is directly with you so they won’t pay the claims company, you will do that.

They will have been informed of the payout and amount by the bank and will supply you with their invoice in due course.

I know this doesn't help now but don't use a claims company. They make out they do lots of hard work in chasing these things but they really don't.
You did the hard work by supplying them with the information, all they did was use that information to send a letter to the bank and will now claim a quarter of what you received back.

Thanks, I wondered how they would get their money. I know you should do it yourself but DH was never going to bother and I thought even if the claims company take a third we still get two thirds, better than not doing it at all.

If you use the moneysavingexpert resolver service, that's totally free (might he or you have other PPI that you can reclaim?) and the process is probably more or less the same as using a company that charges, as you still have to provide them with the information either way.

I did dhs for him. He was never going to do it either.

If they’ve taxed you on it you can claim that back, there’s a section on money saving expert.