It is possible to claim back your mis-sold from PPI alone, but is it worth using PPI Refund to process your claim on your behalf?
It’s really down to your own preference. Claiming by yourself comes with many pros and cons.
What Are They?
There’s plenty of information online urging people not to use companies like ours because, ‘it’s simple to do and there’s no need to pay the go-between’.
People will tell you that the process is simple, but it’s key to remember that simple doesn’t mean it’s going to be easy.
The most important reason behind handing your claim over to us at PPI Refund is the wealth of experience. It would be a lie to claim that all PPI claims are difficult and hard to navigate, but it’s a sad fact that a good portion can be really complex.
We are able to spot mistakes that banks have made and our experience means that tricky situations are avoidable and quickly dealt with.
The FCA and the FOS have spelled out the exact guidelines that banks and lenders are supposed to be following when it comes to processing PPI claims, but we know they aren’t always doing so.
In August 2014 it was reported that 2.5 million PPI claims were to be re-investigated because claimants appeared to have been underpaid.
Let’s say these claims had been handled by reputable PPI claims companies like PPI Refund, it’s likely that these claimers wouldn’t have been tricked by the banks again. An experienced company would spot the ‘mistakes’ and would reject the refund offer and proceed to win the full amount.
No Account Numbers Needed
Most banks have negotiated special agreements with the claims companies that means that account numbers are no longer needed to start a claim against the bank.
This is a relatively new agreement – previously an account number must be provided in order to start the claim, otherwise the bank would dismiss the claim straight away.
Now all that’s necessary is your name and the address you were living in when you took out the finance. This information will allow the banks to run searches across their databases and find any PPI you may have been sold over the years.
This type of arrangement is only available to a few PPI companies and PPI Refund is one of the few that have access to it.
What’s the Conclusion?
Having a PPI Return handle your claim means you get:
- Our full experience dealing with banks and PPI claims.
- No need to dig around for old account numbers, as our arrangements with the banks means they are no longer necessary to begin a complaint.
- Big time saver.
If you believe you were mis-sold PPI, then begin a free PPI check today.