Is It Worth It to Use PPI Claims Management Companies?


Due to the PPI mis-selling that has been going on for years and the after the British Bankers Association dropped its lawsuit to prevent the regulation of the Private Protection Insurance, individuals who were victims of the mis-selling by the banks, building societies or their agents have been getting PPI compensations over the past four years. These compensations now run into tens of billions of dollars. One of the services that is now available for you is the use of claims management companies or solicitors in order to make complaints with the responsible financial authorities and the financial Ombudsman. For example, you can make claims for the PPI refunds at and sit easy as the solicitors do the hard work in getting you the PPI compensation for a small fee.

There are many reasons why you may want to get PPI refunds at or any other claims company that offers you a very professional service. For example, you may be completely unfamiliar with the procedure of filing the PPI claims. In some cases, you might not even know if you qualify for the PPI compensation. The claims management company will do all the work for you in order to ensure your eligibility for PPI compensation and if you do, carry out the hard work in order to ensure that you get your deserved compensation.

What to do the PPI Claims Management Companies Do?

The claims management companies or solicitors will take the claims complaints from you and then file it on your behalf against the financial services companies that filed these complaints against you. The companies will do all the work in order to ensure that you get the PPI compensation in time. It is very important to evaluate the terms of the claims management services as not all PPI companies are the same. Some will charge you a high fee f as much as 30% while some offer a slightly lower fee for the claims management service.

There are steps that you can take when you are contacted by a PPI management company. First, it is important to ensure that you a have a PPI policy. Without a policy in the first place, you will simply be wasting time on an opportunistic exercise that is bound to fail. So dig up into your finances and determine whether you took out a policy on your loans, credit cards or even mortgages. Once you have determined that you the policy and are eligible for the PPI claims, you can now go ahead and evaluate the claims management company. Is it a reputable company? How much fee do they charge? Do they engage in unethical practices such as cold calling potential customers and making sales pitches? Can they be a professional and reliable partner when it comes to the claims process?

Some claims companies will offer you services even you do not have documents but suspect to have taken a policy with a financial product but it is important to read closely so that you can determine what the service entails. You can file claims for PPI refunds at and get the most professional service and reasonable rates, when it comes to the PPI claims.