Top 5 Tips To Choosing The Best PPI Claims Company

by Darwin on August 20, 2016

One of the subjects at present that is considered a “hot potato topic” at the moment in the United Kingdom is the issue of payment protection insurance claims or “PPI claims” for short.

One of the early dilemma’s faced by the many victims of ppi mis-selling (that is, people who have taken out either loans, credit cards, or mortgages that have had ppi attached to them that has been miss sold), is the issue of “How Do I Find A Good PPI Company To Help With My Claim?”.

There are several different things to look for in a ppi claims company including the following but not limited to:

1/ Make sure that the company operates on a “no win no fee” system

A “no win no fee” arrangement is an arrangement meaning that you will not be charged fees for the claims processing, in the event that the claim is not a success, having this in place enables you to have peace of mind in knowing that any fees you pay, are only on success (unless of course you allow time to elapse past once the claim has begun leading on to the next item on the list)…

2/ Make sure there is a “cooling off period”

The best ppi claims companies have a cooling off period usually of around 14 days, meaning that you can exercise your right to cancel at any time within that initial 2 week period, enabling you to make an informed decision, and have time to cancel if you feel you’ve made an error.

3/ Check on the success rates of the company

You need to ensure that there is a proven track record of successful ppi claims with the company you choose to work with, this is because there are companies out there that have track records that suggest you would want to look elsewhere, ask for a record of successful claims and the company should be able to inform you of previous cases that have resulted in successful ppi refunds.

4/ Check that the company can deal with ppi claims of all types

If you have a variety of claims from different financial arrangements, it’s important to check that the ppi claim management firm you are working with has the capacity to claim ppi on the product you have taken out the policy on.

5/ Ask if the company requires the paperwork from the original agreement to process the claim

Some claims management companies require the original paperwork in order to successfully complete your ppi claim, it is important to check on this before you proceed and enter into an agreement with the company, this is to avoid any time-wasting and future obstacles with your case.

In summary

Make sure you check the policy of the claims management company thoroughly before entering into any agreements, the “cooling off” period should be considered essential.

If possible, talk to the company and discuss any bespoke requirements you may have for your claim, issues such as “I need to know what my repayment period was for the duration of my loan” for if you no longer have access to your paperwork, these companies are here to help you.

For people whom have already made a ppi claim don’t think this article doesn’t apply to you, make sure to ask the claims management team on the phone if they can help with issues of “alternative redress” if your refund was not the amount it should have been, this resource may be available to you.

If you’re looking for claims management companies to advise on all of the above, “Gibson Blake Claims Management Ltd” will investigate all available elements of your claim for you, on a no win no fee basis, there are also other claims management companies that offer similar services.

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