The Benefit of Using a PPI Claims Company
Claim Back up to 30 Years of mis-sold PPI
No Original Paperwork Required
For millions of UK citizens who have had payment protection insurance (PPI) as part of their mortgage, loan or credit card payments. The added security of knowing that if an unexpected event prevents you from making your monthly loan payment is covered by PPI is very reassuring.
However, recent news has revealed that many bank and lending institutions have abused the PPI system, either charging their customers PPI rates higher than the law allows, telling their customers that PPI was mandatory and in some cases charging PPI without their customer’s knowledge.
The government has recently set up a reclaim system that helps people who taken advantage of to reclaim their money back. However, like most government systems the filing process is somewhat complex and a single mistake can mean having your PPI claim rejected.
For those who do not fully understand how the PPI reclaim system works or cannot spare the time themselves to go through the process, hiring a professional PPI claims company does offer some strong advantages. What follows are just a few reasons that demonstrate the benefit of using a PPI claims company when trying to get your money back.
Professional, Experienced Service
The best benefit of using a PPI claims company is the experience and knowledge they bring in filing PPI claims. A professional company has years of experience which means they know all the proper procedures so that everything is done in order.
A professional company will file the right paperwork that is completely filled out correctly and in the proper order so that the PPI claims process can proceed forward. By using a professional company, you greatly reduce your chances of having a single mistake set back your PPI claim. The professionals understand what is needed in order to get your PPI claim on the right track.
No Money Upfront
The PPI claims company will not charge any money upfront for their services. Typically, they will take all of your information and evaluate whether you have a legitimate PPI claim. If you do not, then you are not charged any money. If the company believes that you do have a legitimate claim, then they will do all the work and if it is rejected by the government, they still will not charge you any money.
However, it is exceedingly rare than any professional PPI company will file a claim without almost certain knowledge that you will get your money back.
Small Percentage Charge for Successful Claims Filing
This is how PPI claims companies make the money to cover their expenses. Generally speaking they do take a small percentage of the money from the return. That means when the check is issued, it will have a percentage deducted by the PPI claims company before you get the rest of the money that is owed.
In most cases, the percentage is reasonable and certainly well worth the expense of filing for a PPI claim if you are too busy to handle all the work yourself. The benefit of using a PPI claims company and the percentage that they charge outweighs the risk of the time and money wasted in trying to file a claim that may not be legitimate or full of mistakes.