Reasons to turn to Payment Protection Scotland?
We’re getting into the festive spirit here at Payment Protection Scotland but we are also aware that for many, the clock is ticking – and not just the Christmas countdown. The PPI deadline is looming and come the New Year, you will only have a few months until time is up.
So that got us thinking – why should customers come to us for help?
What are we?
We are a claim management companies (CMCs), a company offering a service that you will find across a number of industries.
CMCs in Scotland are not currently regulated but in June 2018, the Financial Conduct Authority began consulting on regulating companies like us. There are companies like us that do operate with the highest regard for their industry and the people who are their clients.
But the Scottish Government was two steps ahead, itself looking into regulating Scottish CMCs, a move that we welcome. Scrutiny would fall on what a CMC offers its customers when it comes to claiming PPI compensation and helping customers in other areas too.
I. No win, no fee
Most reputable CMCs will offer their services on a no win, no fee basis meaning that unless your claim for PPI compensation is successful, you do not pay a fee for their services.
II. Robust assessment process
The no win, no fee strategy ensures that a CMC has a robust assessment process in place. This means that they want to be confident that a. you have at least one PPI policy and b. you were mis-sold it.
III. Success rate
The success rate of a CMC should be displayed, especially if they are proud of their success record. No CMC will have a 100% success rate but it should be well into the 90s. Payment Protection Scotland has held an average success rate of 92% and above, a sure sign that we every PPI case seriously.
IV. Fee structure
A common cause of concern is how much CMCs charge for their services and how some less-reputable claim management companies ‘hide’ their fee structures. This means that the customer, on receiving their compensation gives a large proportion of it to the CMC, unaware in many cases that the bill would be so large.
Payment Protection Scotland has always had a transparent fee structure – in fact, we charge one flat-fee for every case which is advantageous for those customers whose PPI claims are more complex, taking longer to resolve.
We believe our fee is a fair representation of the work that we do for our clients. To find out more, check the website for the latest fee.
And finally, not all CMCs last the test of time which means that they burst onto the scene with big promises that they cannot fulfil. Payment Protection Scotland have been helping people with their claims for PPI compensation for many years now and, with our in-depth experience and knowledge, why would you choose to turn to another CMC?