Heir hunters

[codswallop]

I have just been watching the above prog.How does that company finance its efforts?They made enquiries in Europe,Canada and the UK and these people don't come cheap the inheritance was only £15000.It wouldn't cover their meal expenses.Thanks!!

[nungate]

I believe they get 25% of the inheritance

[jackthehat]

They take up to 25% in commission.......

[cazzz1975]

they take a slice of the inheritance, i have heard they take around 40% which seems a lot and may not be accurate..

[cazzz1975]

see! 25% seems to be the rule of thumb, which is why they chase the big estates.

[zebo]

They take around 20-25% of whatever is recovered, it's negotiable though, sometimes they lose out, sounds like they might have done that here. This is only a small part of their work, a lot comes from other sources and is more lucrative. Some people are canny enough to submit their own claim and cut the companies out altogather.

[codswallop]

Thank you all for your quick answers,so I'll take it as approx.25% then?

[DTCwordfan]

I bet its a minimum like 7.5 to 10k and then 20% +/- above.....hence the variation in fee percentages being given....

[Barmaid]

They take up to 40% (I've certainly never seen one above 40%) - although some people are canny enough to talk them down. Ultimately, once they've traced the heir, the work has been done so anything they get is a bonus. It is often a race too between the "heir hunting" companies. Some will go in with 40%, the next will undercut that percentage etc.

However, if litigation ensues, they will often underwrite the cost of it.

[denis567]

Friend of mine benefited from one of these companies, he recently received about £8000 completely out of the blue, so he wasn't too concerned about their fees.