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Heir hunters

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codswallop | 20:35 Mon 21st Nov 2011 | TV
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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!!
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I believe they get 25% of the inheritance
They take up to 25% in commission.......
they take a slice of the inheritance, i have heard they take around 40% which seems a lot and may not be accurate..
see! 25% seems to be the rule of thumb, which is why they chase the big estates.
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.
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Thank you all for your quick answers,so I'll take it as approx.25% then?
I bet its a minimum like 7.5 to 10k and then 20% +/- above.....hence the variation in fee percentages being given....
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.
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.

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