When making a claim for mis-sold PPI, one of the key areas of interest will naturally be how much the PPI claim itself could be worth to you. As with all walks of life, you have to make informed decisions – how much time will you have to spend to get the result and what return on your time can you expect.
There is unfortunately no definitive or clear answer as there are different factors that will dictate how much a PPI claim is actually worth. These factors include whether the loan is ongoing or complete and how much the loan was for.
Using these metrics as the main sources of information it is possible to estimate how much a PPI claim is worth but to achieve a more realistic figure, it is best to seek expert advice. As a PPI claim firm has significant experience in recouping compensation for mis-sold payment protection insurance, they can make more informed estimates based on the results they have achieved to date. Their first hand experience allows them to build key data on what different lenders and banks can be expected to pay on different scales of loans.
It is also worth noting that anyone who has been mis-sold PPI on an ongoing loan may well expect to receive a lump sum compensation package as well as reduced ongoing payments. For completed loans, financial consumers can expect a final compensation package that repays the money they paid on a monthly or up front fee for PPI.
As an individual, pursuing a PPI claim is relatively simple but results in terms of the overall compensation package and timescale can be seriously improved using a specialist PPI claim company. Their industry knowledge helps not only in terms of the PPI compensation package and timescale, but also allows the claimant to hand over the responsibility and management of the PPI claim. This works to favour both parties – the claimant gets his or her money in a shorter time and it is naturally in the PPI claims firm’s interest to get the highest return on their fixed fee or percentage commission.
Claim Back Your PPI Today
At PPI Return we work exceedingly hard to get the maximum compensation for our clients. If you would like to talk to our team, please call on 0800 877 8888 or to find out how much your claim may be worth, use our PPI Claim Calculator.
Content correct at time of publication