There has been a lot in the news recently about reclaiming mis-sold PPI. Many people are getting back thousands of pounds as banks have already allocated this money to be repaid. There has never been a better time to reclaim your PPI if you have a genuine claim. Reclaiming mis-sold PPI is time-consuming and involves organising documents and filling in forms. If you are not successful the first time you will have to persevere and claim again. This can be disheartening and many people give up after the first attempt, even if they have a valid claim. To avoid this stress some people prefer to use a company to do the paperwork and to organise their claim. The company will take a percentage of the money claimed but if you are not successful you will owe them nothing whereas if you are successful you will get back most of the money you didn’t realise you were owed. Many people prefer this rather than spending hours filling in forms with the chance that you will end up with nothing.
If you have had a credit card, mortgage or loan at any time in the past 10 years you will have certainly been offered PPI and may actually have been paying it without knowing. Many people have been paying for PPI and are able to actually reclaim this. If you are one of these people then you should be making your claim as quickly as possible. Your claim can be made more speedily and easier by using a company. If you have hesitated because the thought of all that paperwork is putting you off you have nothing to lose by using a company as they will do it all for you and if you are successful you will manage to get money back that you have wrongfully paid over to the bank or finance provider. Basically, you have very little to lose by using a PPI company to try to claim back any mis-sold PPI.
The percentage PPI Companies take from your reclaimed PPI will pay for the time spent in sorting out the paperwork and making sure that if your claim is genuine it will be successful. Companies reclaim thousands every day from mis-sold PPI and they are experts at it. They are more likely to be able to reclaim the money as they understand the procedure and will keep on if the claim is rejected at first. If you make a mistake in filling out your forms, then the finance company will reject your claim as no bank wants to pay back money to customers and the PPI scandal has cost them billions. A reputable company will have vast experience in the pitfalls of PPI reclaim and stands a far better chance of success than someone who is trying to get all the paperwork right for the first time. So unless you are a financial expert or a whizz at filling in forms, then consider using a company for your PPI reclaim.