Should I use a PPI claim company to get me compensation?

There has been a lot of press surrounding claims companies, with some ppi claims companies charging over 30% for their services. We charge 20% + VAT for our services. Most lenders are on a mission to stop claims companies handling your claim. Why is that? Quite simply to reduce their losses, payout less and in some cases reject claims that are valid! We have first-hand experience of how lenders have hoodwinked customers into taking less than they are owed, and failing to identify multiple claims.

We believe we offer added value to PPI claims, thousands of people in the UK have been sent letters from there banks informing them that they could claim compensation directly with them, but weren’t they the ones prepared to rip consumers off in the first place. Some just want to put things right to restore faith with their customers, but many were on the ppi bandwagon to make as much as possible and now will lead many claimants on long paper trail hoping they will give up. The scale of the ppi scandal is well documented, billions has been taken and generated huge sums in interest, which is another thing we will chase on your behalf! PPI claim companies like us will delve into the history of the loan and often dig up several additional claims that the lender would not identify to you, even if you do not have every piece of the paperwork. Unfortunately we don’t have voice against the might of the banks and lenders, who will no doubt continue to tar CMC’s with the same brush.

Our ethos is simple, get the best possible result for our customers.

As claims management company, we do charge fees for our services, which are outlined below. By using a company who cares, who can send a friendly representative to see you if you wish, we can increase the potential for multiple claims and ensure you get the monies you are owed, with interest. If none of this is for you and you are not convinced that our ppi claim service is for you then you can carry out your own application by using the free application form on the FOS website.

Mr D’s PPI complaint

Mr D was sent a letter by his bank, a bank he had been with for 15 years informing him that he had 2 possible PPI claims with them but Mr D had several friends who had used a PPI claim company before and thoroughly recommended their friendly service to them. After a quick call he was off and running, a friendly and experienced advisor arrived to see Mr D 3 days later and after half an hour he was able to identify lots more potential PPI police that were mis-sold to Mr D. 7 weeks later Mr D received £48,000 in compensation for 13 PPI claims he made using a claims management company, his bank had previously offered a compensation total amounting to £7000. Though Mr D did have to pay the PPI provider, he was left with tens of thousands more in compensation than he would have received if he gone it alone and claimed PPI directly through his bank.

Mr D is not alone, hundreds of thousands of people out there will be receiving letters from their bank advising them that they could claim thousands in compensation which is great but their is only one reason why the banks are going direct, its not good customer service or a process issue its to save money. Using a PPI claim company could increase the amount of potential compensation you could receive, after all, we can all wash our own car but may choose to have someone do it for us!

Our flat fee for a ppi claim is 20% + VAT. We specialise in getting the optimum amount of PPI refunded to our customers. Some customers opt for a home visit, which does incur a fee but in all cases our customers have felt this is worth the money as additional PPI claims have been identified. You can find more details plus examples here

Are you eligible to claim back PPI?

PPI or payment protection insurance was routinely mis-sold by banks and lenders for several years until an FSA investigation found that customers were mis-lead into accepting a PPI policy or were not eligible to have it anyway. After tens of thousands of complaints that policy holders were not able to use their cover in the situation they believed they were covered for, banks are now being urged by financial bodies to refund PPI premiums plus interest to all those parties who were mis-sold.

Claiming back mis-sold PPI is simple, especially if you use a PPI claim company like us. After a short chat on the phone you can decide whether you would prefer to continue the application online, do it by post or for us to send one of our top PPI representatives to visit you. Often the home visit seems daunting and in-practical but we would urge everyone to opt for a home visit, our advisers are great at digging around and finding additional claims that you didn’t know you had and when each PPI claim is worth on average £3000 it is well worth having a morning off for a home visit.

10 common reasons for PPI being mis-sold

There are many possible reasons why you could have been mis-sold PPI and thousands of others are in the exact same situation as you. If you have been mis-sold PPI then you should be able to identify with one of these common reasons for the mis-selling:

• PPI was added to your application for personal finance without your permission or knowledge
• The sales advisor did not inform you that a PPI policy was optional and it could be purchased elsewhere
• The PPI provider did not tell you about the policy exclusions including back pain and stress related time off work
• You were currently suffering from a medical condition that was keeping you away from work
• You were unemployed, self-employed or retired when the policy started leaving you ineligible to make a PPI claim against the policy
• You were told or given the impression that PPI cover was compulsory
• You were not asked whether I had other insurance that would cover you in the event of needing it
• You paid off my loan early, but received no refund of the PPI premiums I paid
• You were older than 65 when taking out the policy
• The policy terms and condition were not explained to you
• I increased my loan and my PPI premiums were increased too

How to get back PPI compensation

In order to get back PPI compensation, you must first be able to show that you were in fact mis-sold the policy by the lender.

Firstly, check your credit card statements, loan policy details on the hunt for any additional mention of insurance, this can be different wording by the lenders so if you have any suspicions get in touch with one of our specialists and we can guide you in the right direction. In some cases ppi was included in the premium, so it could be a simple call to the lender to establish this. Don’t forget, if the ppi was on a card or loan to pay off a previous loan, then that could be a claim too.

Secondly, you need to be able to claim that you were mis-sold the policy by the lender. Using the common reasons above, think back to the point of sale and try to establish if one of these was the criteria for being mis-sold PPI.

Thirdly, get in touch with us. Either give us a call, direct into our friendly UK call centre and proceed with a claim over the phone, alternatively fill in our call back form and we will get in touch with you at a time that is convenient to discuss your PPI case.

What do I do next?

After you have identified you are paying for PPI, that you were mis-sold and have started your claim with us its time to sit back, let the 6-8 weeks pass you by in the complete knowledge that your PPI complaint is being dealt with. Typically the bank is urged to make an offer to settle your claim within 8 weeks of receiving any valid claim, once this is accepted it can take a further 4 weeks for the bank to settle the payment to you.

Once you have received your PPI compensation, we will invoice for our work. We work on a no win, no fee claim basis, so you only have to pay if we get your compensation for you. We charge either 20-25% depending on whether you opt for a home visit and/or to settle the initial home visit fee on the visit or as part of the compensation.

For more information on making a PPI claim, click here!