When faced with the question, should you or should you not claim back payment protection on the internet, there are primary factors that you should take into account before making a judgement call.
At the beginning, be aware that you can actually claim your compensation for free, by contacting your creditors by yourself and chasing up on the progression of your claim at regular intervals, however, contrary to what many people will argue about this, it can turn into hassle,
Here are some of the key disadvantages of claiming back ppi without the use of a claims’ management firm:
- It can take rather a long time, because banks are traditionally slower when dealing with an inexperienced claimant as opposed to a claims management company, there reasons for this are unclear however it is thought that it could be due to the banks feeling somehow that they can relax because the individual does not know what to expect when seeking to claim compensation.
- An individual will not know how to proceed in the event that the banks’ reject a claim, (it needs to be submitted to the financial ombudsman because it requires further investigation in most cases.
- Someone operating alone will need to prepare all paperwork themselves & take some guesses as to the exact information that will be needed by the financial institution that they want to claim compensation from, as certain companies will need you to elaborate as to why you feel you have been miss sold payment protection.
However, in the event that you go with a claims management firm, the headaches of this are all taken away from you as the company will prepare the case acting on your behalf, which may or may not be convenient to you (largely dependent on the fees the said company expects to charge in exchange for their services), one company mentioned in conversation with a recent claimant was http://ppiclaims4you.co.uk , look around & see which companies offer the right service for your particular needs.
Searching on the internet can help you an awful lot in choosing a company should you decide to go with a management company, but do bear in mind a lot of these firms will charge heavy fees for their services.
Consider phoning up the companies of interest to you to get their perspective on matters as there is a chance they can offer you some guidance on how to proceed, even in the event that you decide to proceed alone with the case.