Do I have a claim for PPI compensation?
With so many questions, you will be wondering where you get the right answers from. As always, the best place to turn is to a reputable source of information. With many years of experience and specialising in PPI compensation claims, we are the right people to come to for information and help.
Go it alone or use a PPI claim management company – which is best?
In all honesty, only you can answer that question but many people who used a reputable claim management company found the whole process stress and hassle free.
So what am I looking for in a claim management company?
There are many things to look for:
- No win, no fee – this means that if they lose your case, you owe them nothing. You only pay a fee if the claim is successful.
- Transparency – fee structures and so on should be made abundantly clear before you sign up to their service. It is important to know how much it could cost you.
- Success rate – clearly, a high success rate when it comes to successful PPI compensation claims speaks volumes; it means objectively assess each case before they lodge the claim with the bank or lender.
- Knowledgeable – from a regularly updated blog or news section, to a knowledgeable person at the end of the phone, although some PPI claims are not complex, working out how much is owed to you can be.
- After-service – once you have an offer of PPI compensation from your bank or lender, it is your choice whether you accept it or not. Look for a claim management company who will talk you through the offer, and whether it has been calculated correctly.
I though all claim management companies were bad and to be avoided at all costs?
No, not all companies of this ilk are out to make a quick profit from a shoddy service. In fact, it was pressure and publicity from a claim management company that highlighted thousands of people had not received the right amount of compensation.
Lloyds Banking Group had to contact 2,500 customers who had been underpaid compensation as costs and fees relating to PPI had not been included in their original settlement. If it wasn’t for the claim management company, this may still have lain undiscovered.
But it costs the earth to have them work on a PPI compensation claim…?
Not necessarily. Most reputable companies will have a flat fee, handy for calculating how much you owe them, especially if you have multiple claims. And, reputable companies don’t charge an upfront fee.
Payment Protection Scotland is one of those respected and highly reputable claim management companies; call us now!