PPI compensation claim Guide

Are you looking for tips on how to make a claim of PPI? So be aware that there are two ways to do it. One is obviously trying to ask you a question, and the second is to make a claim through an agent. The pros and cons of each method is detailed below to help you make your mind.

Supporting yourself

Taking a PPI compensation claim alone it:-

Cons

Your claim to do much more than go through an agent, such as loan companies will be considered small fry and try to fob continuous with endless letters.

You may mistakenly think you can claim back PPI payments only (whether monthly or one payment at the beginning of the loan). Where as in reality may request the reimbursement of the loan agents Commission, interest on PPI to legally backup 8% per annum and even compensation.

You can stand a chance much lower than using an agent to reclaim PPI, and you’ll have to do all the work yourself, which is not as easy as some may declare.

Pro

However you will save money on Commission agents.

Claiming through an agent

Cons

Normally they take a Commission of 25%.

Pro

If it is claimed through an agent you’re probably a 95% of them winning your PPI claim in full.

You will recover the money much faster than if you did it yourself. Sometimes in just 3 weeks.

You just fill out a simple form, which will only have a few minutes to fill out if you have at hand the details of policy.

Then they will handle all aspects of application documentation for you.

Operate on no win, no fee basis-you pay nothing in advance and nothing if they lose the case.

So as you can see there are pros and cons to both locations, I personally recommend going through an agent, taking a Commission, but in Exchange to manage all aspects of finance for you after you build a simple PPI claim application. For more information about the benefits of how easy it can be to claim and claim benefits please read my signature below.

Average compensation of mis-sold PPI is about £ 2,500 so if over the past five years has had one or more PPI policy then clearly is well worth it in claiming compensation for the PPI. Some people have even argued over £ 25,000!