Should I Trust a PPI Claim Text Message?

Posted on October 29, 2018 by Canary Claims suspicious woman reading a text message

If you receive an unknown text regarding a PPI claim and a sum of money you could be owed, should you trust it?

The PPI deadline is looming. This means that PPI claim companies are trying to process as many claims as possible. Here at Canary Claims, we’re working hard on behalf of our customers to get refunds before the cut-off date of 29th August 2019.

To date, the banks have paid over £32 billion to consumers for mis-sold PPI. Millions of people have made successful PPI claims. Consumers have the choice of contacting their bank directly about a claim or choosing to use a PPI claims company to act on their behalf.

Many claims companies use cold calls and text messages to generate their custom. But if you receive one of these PPI claim messages, who is it from and should you trust it?

Who Are PPI Claim Text Messages From?

Have you ever received a text message from an unknown number regarding a PPI claim? It might say that you are due a large sum of money and that you need to text and reply with an answer or “YES.”

Many people have received these messages. These are usually from PPI claims companies that send out text messages en masse, much like cold calls. If the message says that you are owed £3,000, it can be very intriguing and you might want to find out more. However, these text messages are generic and its entire purpose is to pique your interest and encourage you to reply. In reality, the company cannot guarantee that you could be owed this amount of money. While there is a probability of you being owed money for mis-sold PPI, as it was so widely mis-sold, a PPI claims cannot — and should not — make promises.

How Did the Company Get My Number?

The claims company that text you may have bought your number from a third party, or you might have once given it your number if you ever enquired about a PPI claim. Citizens Advice explains how you can prevent receiving these calls and text messages.

Cold calls have long been an issue and the government is starting to pass legislation that limits how companies contact people and forces fines upon those that don’t follow the rules.

Should I Work with the Company That Text Me?

Most reputable claims companies won’t use calls or text messages to generate sales. If you do want to make a PPI claim, it’s advisable to do some online research first. You might have seen TV adverts, but always check online reviews and investigate how much a company will charge for your claim. Don’t feel pressured by a cold call or PPI text message to use that specific company.

All claims companies should operate on a no-win, no-fee policy. [Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180]. This means you should never be charged any upfront fees and you only pay if your claim is successful. Under no circumstances pay any money upfront. A fee is only payable only when you have received your refund.

Recent government regulations also mean that you can’t be charged more than 20% (plus VAT) on your successful claim. In the past, some companies charged fees of up to 40%, however, this is no longer the case.

There is always the choice to make a claim yourself for free. This can be more work and take longer, but it’s a worthwhile consideration for those who have the time and patience to gather evidence, submit it to the bank and chase up the status of their claim.

At Canary Claims, we have never used cold calls or text messages to generate custom. Many people read our testimonials or are referred by a friend to our services.

Canary Claims is a no-win, no-fee PPI claims company [Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180] that can make a claim for you before the impending deadline. Offering one of the lowest fees of only 15% + VAT (18% total), we can help you start your PPI claim today.