If you are looking for the best company to help you to reclaim your PPI payments then there are a number of factors that you could consider before making a decision.
Best PPI claim success rate
Most ppi claims companies claim to have a success rate of between 85% and 95%.
Of course different companies may work out their success rate in different ways. Some may only take on the best cases that they know are certain to be successful and may refuse to take on more borderline cases. If you took out a loan you may be entitled to claim.
Check out this spoof of the annoying Arnie PPI advert!
Best PPI Claims Handlers
Does the claim company have dedicated claims handlers who are assigned to your case? If you have a query are you able to talk to a real person who knows your case? If so this may well serve you best in your PPI claim for loans. PPI bounce back loan.
All PPI claim companies are regulated by the ministry of justice. Some of the best PPI claims companies are solicitors and so you should get extra protection in this case as they are also overseen by the law society.
What are lowest/best PPI charges?
Make sure that the claims company whether the cheapest or most expensive is transparent about its charges. Claims on a no win no fee basis will of course require you to pay fees if you win. The best PPI claim fee is around 10% but charges generally range between 10% – 30% of the money you get back from the PPI provider. Of course a cheap PPI company may not be the best! It is best to make sure you understand any arrangements for fees that involve cases where a reduced premium is payable in the future as the PPI company may want a cut of your future savings as well. Be very clear as to what the wording of the agreement with your PPI claims management company actually means! The cheapest PPI claim company charges 10% commission.
PPI Claims company recommendations and reviews
So make sure that you choose the best ppi claim company to fit your circumstances. If you have a complaint about your ppi claims company you are recommended to contact the financial ombudsman. Remember that you are entitled to contact your PPI provider yourself and to make your claim direct to them.
Money Saving Expert Martin Lewis recommends that you use a standard PPI template form for your claim and avoid the claim company middlemen.
There are many grounds for making a PPI claim against your financial provider. These could be:
If you were told PPI was compulsory
If PPI was included and you were not informed
If you were not told that it was included in your payments
If PPI was not suitable for your circumstances