PPI compensation after CC received ?

[lifenoteasy]

One drawback, should the ruling continue in our favour, will be that new arrangements will be re-written to the effect that closure will not take place until all PPI investigations have been exhausted or interests assigned. - See more at: http://www.iva.co.uk/forum/topic.asp?wh ... 765#593055

The companies have had years in which to get this principle right.

Unfortunately all the warning signs are there linked to further regulatory action against the IVA industry with either only larger companies surviving (Foggy view) or smaller companies coming through in the end (Michael view).

I share Michael's view more and specifically that one of the larger companies will go to the wall.

From 2009/10 how many of these still exist and/or how entwined are they with each other:

Abacus (Financial Consultants) Limited Fair Deal on Debt
Action Today Fairpoint Group plc
The Amadeus Partnership Gemstone Financial Management Limited
Ashley Park Debt Solutions Harrington Brooks
Baines and Ernst Invocas Group plc
Blair Endersby Kensington Financial Management Limited
Bright Oak Limited Key Finance
Byrom and Keeley Financial Solutions Ltd Lawrence Charlton
Churchwood Financial Services Money Advice Group
ClearDebt Group Plc Money Debt and Credit
ClearDebt Limited Money Guilders Ltd
ClearStart Money Tailor
Debt Advice Foundation My Debt Lifeline
Debt Advice Link Netchwood Networks Ltd
The Debt Advisor Paymex Group
Debt Advisory Line Personal Touch Debt Solutions
The Debt Advisory Portal Reverse Financial Solutions Ltd
Debt Free Direct Limited Silverline Finance Ltd
DebtFreeMe Financial Solutions Smooth Financial Consultants Limited
Debt Resolution Centre Ltd Tandem Financial Solutions Ltd
Debt Release Direct Tenon Group
Debt Stop Direct Limited Ventures in Finance
Dissolve Debt Limited Zebra Money Management

[Foggy]

Personally I hope that I am wrong and that Michael's view is correct. However, the big boys are fed their clientele by direct referrals from CAB and the creditors themselves, some are also partially funded by the banks and can ride out downturns in revenue.

As well as feeding the chosen firms, there will come a time when (and it is unclear as to whether this has already happened in some cases) creditors will agree a fee increase with these firms.

There are already shocking examples of how the big boys are becoming increasingly creditor centric.

With the current central government trend in downsizing and outsourcing the Public Services I can see the Insolvency Service being run by the banks themselves !!

[lifenoteasy]

"With the current central government trend in downsizing and outsourcing the Public Services I can see the Insolvency Service being run by the banks themselves !!"

Highly possible but they would need to resolve the Human Rights Act connotations first.

I can name a couple of firms based on posts where they are receiving at least 20%.

[kallis3]

Hi Lifenoteasy - that link is just leading back to this thread.

[lifenoteasy]

Hi

Thanks - its the way that the board copies and pastes. I have edited it to remove the link itself.

[Foggy]

If you copy and paste from any thread the board adds a link back to the original thread -- in this case the same one Easily edited out, if you know it is going to happen.

[longslog101]

oops..... we properly hijacked this thread and the original posters question....

who takes 20% of what lifenotsoeasy ?

[Foggy]

20% fees -- as opposed to the 15% many get.

[lifenoteasy]

One poster stated that GT was getting 25%.

From what I can see 20% is not actually unheard of - it just doesn't get advertised between companies.