Claiming on PPI
Claiming on PPI – Will You Attempt it on Your Own or Choose an Agent?
If you are considering looking into claiming on PPI, you should know there are two ways to go about doing this. To be reimbursed the money you are entitled to because you were mis sold payment protection insurance, you might go through the process on your own. On the other hand, you could use the knowledge of a Financial Claims Management Company. Both have benefits and drawbacks, which will be laid out here so you can make the best decision for you when it comes to claiming on PPI.
With the decision of claiming on PPI by yourself, you will save money because you can avoid an agent’s commission. Unfortunately, this is about as far as the benefits go for filing a claim for PPI by yourself.
It is important that the initial letter of complaint put forward to the lender covers all aspects of the claim and reasons why the product was missold to avoid dissappointment.
The benefits of using a Financial Claims Management Company are many. First, you are using the services of a company who have experience in dealing with Lenders who may be reluctant to settle the claim from the initial approach. In many cases, the entire process can be completed in only three months. All you need to do is fill out a simple form, which takes mere minutes while your agent handles all other paperwork and other aspects required of claiming on PPI. The best benefit is that, while if you win you will owe the agent a commission, there is a “no win, no fee” practice, meaning you pay nothing upfront, and if your claiming on PPI efforts are denied, you owe the agent nothing.
Clearly, there are pros and cons for each option in claiming on PPI, but the most beneficial choice is quite clear. Anyone who has worked with a reputable Financial Claims Management Company has only positive things to say about the experience. Either the mis sold payment protection insurance will go unclaimed and you lose nothing or you pay a small commission and get the rest of your money back. You have nothing to lose by choosing to work with an agent today.