How To Find The Best Ppi Claim Company

There are a number of reasons why you may want to claim back the money that you spent on payment protection insurance (PPI). It might be that you were pressurised into buying this type of policy by a heavy handed salesperson, or that you didn’t realise PPI had been included as part of a seemingly overpriced insurance package. Whatever your reasons for making a claim, a quick and comprehensive resolution is likely to be sought.

Some people who have been missold PPI choose to take the claim filing process into their own hands. To be successful these individuals must craft a concise letter, outlining the circumstances of their case, and stating the reasons why they are eligible for a refund. Even the most reasonable claims may still be rejected by the insurance providers, leaving the angered customer with little option but to seek the assistance of a financial obundsman.

The banks do not fob off the claims companies in the same way as they do individual consumers, because they know that the claims companies will keep on knocking at the door, and will not be fobbed off.

Most claims can therefore be settled within 10 weeks, as the banks know that the claims companies are only interested in one thing, and that is a successful payout for the client. The banks are aware of this and work closely with the claims companies to avoid protracted cases clogging up the claims system.

Also claims companies know how much can be claimed, and work hard to ensure the client is compensated adequately, with suitable interest payments, this is not usually the case when individuals make claims.

The alternative is to seek out a company that specialise in PPI claims. They understand the protocol, will be able to weigh up your case and then manage it from start to finish. This therefore involves very limited involvement from you and may improve your chances of achieving a successful conclusion in a quicker timeframe.

But there are issues associated with this. First and foremost, they won’t just give up their time for free. There will be a cost for these services, which will usually be a percentage of the final sum.

The good thing for consumers though is that most companies won’t charge unless you are successful. Therefore if you don’t have a case and are unable to get compensation, you won’t have to pay a penny. The amount companies charge for their services will vary from business to business. It could be 25% of the overall amount, it could be a set fee. You should make sure you are aware of the terms of service before you sign up with any company.

There are no guarantees that by hiring a PPI specialist that you will definitely win though. There are still a number of factors that cannot be overcome by knowledge or experience, in this case you simply won’t be eligible for compensation.

By employing a PPI Company you can share the burden. Whilst you will lose a certain percentage of your overall compensation, it might be a price worth paying – especially if you don’t have the time, confidence or patience to do it yourself.