3 Tips For Finding The Best PPI Claim Company
So you’re ready to claim back your money from mis-sold PPI and you want to find the best PPI claim company to help you do that.
The Financial Ombudsman Service (FOS) closed down several hundred claims companies a couple of years back due to poor practices and flouting guidelines, which can only be a good thing. Even with all those closures, many claims companies remain, so how do you find the best PPI claim company to win back your money?
Here are 3 tips to help you navigate the virtual clutter when researching your options.
The Best PPI Claim Company Should Have Transparent Fees
If you’ve been mis-sold PPI, you obviously want to get your money back, not have yet more nasty hidden surprises sprung on you.
The best PPI claim companies work on a ‘no win, no fee’ basis, and they most certainly won’t charge you any upfront fees. In your search for the best company to handle your PPI claim, see if they are able and willing to gather your information and take an initial look into your potential claims for free.
They’ll know early on if you actually have PPI, whether it was likely to have been mis-sold and the likelihood of you winning a refund.
You shouldn’t have to pay for this, so be sure to check when you make an enquiry whether they work on a no win no fee basis and that they do not charge any upfront fees.
They Also Have a Proven Track Record
When searching for the best PPI claim company, they should also have a documented track record of successful PPI refunds they’ve won for their clients. While this doesn’t necessarily prove they’ll win back your money, it does serve as a good indication of their experience and expertise in the field.
As was mentioned earlier, the FOS has closed down many of the worst PPI claim companies, but that doesn’t mean that every remaining company can be classed as the best.
Look for their success stories and don’t hesitate to pick up the phone to give them a call either. If they know what they’re doing they’ll be only too happy to answer your questions without being pushy and with no obligation on your part to take things further if you decide not to.
Most Importantly, They Have a Special Agreement With The Banks
The sheer scale of the PPI scandal means that literally millions of policies were mis-sold, with many still to be claimed on. To go through each one individually and investigate is a lot of work, and the banks are now keen to speed things up so they can put this whole mess behind them.
One result of that is a special agreement that has been made between the banks and some of the established and trusted PPI claim companies.
In short, this agreement means that only your name and previous address history is needed in order to investigate every policy you may have had, not just with them only, but across their entire network.
Many banks are now owned by a parent company, so with this new arrangement in place, every loan, credit card, mortgage and other finance agreement you may have had can be tapped into relatively quickly and easily, with only your name and previous address history.
Not all PPI claim companies have this agreement in place, but many of the best ones do.
It’s worth mentioning, too, that this deal is not available to individuals claiming by themselves. Anyone wishing to claim by his- or herself must submit an account number for each individual claim they wish to make.
Many people have forgotten old account numbers and even some of their old policies, so this arrangement can be particularly useful to them.
What’s The Best PPI Claim Company For You?
In summary, to find the best PPI claim company to handle your claims, you should be asking them and yourself these questions:
- Do they work on a no win no fee basis? (Be very cautious if the answer is no.)
- Do they charge an upfront fee? (Be very cautious if the answer is yes.)
- Do they have a proven track record of successful claims? Can they show you examples? Are they happy to chat with you on the phone with no obligation on your part?
- Are they one of the few PPI claim companies that has a special arrangement with many of the main banks whereby account numbers are not needed to get your claims started?
As you will have no doubt guessed from reading this, we believe we are the best PPI claim company to handle your claim, but we don’t want you to just take our word for it. Give us a call on our freephone number, 0800 840 7290, or pop your details into the short form above and we’ll get back to you.
You can then decide for yourself if you feel that we’re the best PPI claim company to find every instance of PPI you may have ever had and win back your money for you.