Endowment compo - using an agent to act on my behalf


R

Richard C

I have complained to Abbey (National) about mis-selling me my
endowment policy using Which's on-line complant letter generator. The
basis of my complaint is that it was not mentioned to me that the
policy may not pay off my mortgage. I have got back what I presume is
Abbey's standard refusal letter. Where do I go from here? I had a
leaflet through the door advertising a company that persues endowment
mis-selling claims and, as I'm too busy to chase the claim myself, I'm
considering giving them a try. Has anyone got any experience of such
companies? Are they sucessful and what are their fees like?
 
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R

reven

first step would be to take your case to the Ombudsman, but read the Abbey
letter through. Does it tell it all, and does it look like they have a good
case to prove their case. If you have a good case, go back to the Abbey.
Be very careful with leaches.
 
D

Double Doom

Richard C said:
I have complained to Abbey (National) about mis-selling me my
endowment policy using Which's on-line complant letter generator. The
basis of my complaint is that it was not mentioned to me that the
policy may not pay off my mortgage. I have got back what I presume is
Abbey's standard refusal letter. Where do I go from here? I had a
leaflet through the door advertising a company that persues endowment
mis-selling claims and, as I'm too busy to chase the claim myself, I'm
considering giving them a try. Has anyone got any experience of such
companies? Are they sucessful and what are their fees like?
They are ambulance chasers and do little more than help you out filling the
forms. They are not regulated by the FSA so cannot really tell you if you
have a case or not without breaking the law themselves. They more or less
take the view that everyone was misold. You will receive no extra
compensation to cover their costs but they will take about 40% of the
payout.

DD
 
R

ray

Double Doom said:
They are ambulance chasers and do little more than help you out filling the
forms. They are not regulated by the FSA so cannot really tell you if you
have a case or not without breaking the law themselves. They more or less
take the view that everyone was misold. You will receive no extra
compensation to cover their costs but they will take about 40% of the
payout.

DD
 
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F

Fergus O'Rourke

Double said:
They are ambulance chasers and do little more than help you out
filling the forms.
Nonsense. Have you ever attempted to deal with the FOS ?
They are not regulated by the FSA so cannot
really tell you if you have a case or not without breaking the law
themselves.
More nonsense. Legal advice is not the same as financial advice.
The FSA has no jurisdiction over the former.
They more or less take the view that everyone was
misold.
Yes, over-generalisation is not a good idea.
You will receive no extra compensation to cover their costs
but they will take about 40% of the payout.
See above.
 

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