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Scotland Wide PPI Specialists

Scottish PPI Claims – Just Another Claim Management Company?

12 January 2015

Many people do not feel confident in dealing with banks or lenders; not everyone enjoys a good relationship with financial institutions and some find the whole process of making a claim for PPI compensation complicated and scary. For other customers, they simply do not have the time…

Whatever the reason - and it really doesn't matter why! - people turn to claim management companies to help them out. But, some people think this is not a good idea; they read articles in the press or horror stories online about companies who tell them they have a claim, but then never see any money…

Assessing the company: looking for the information

Like any profession, there will be some companies who offer a high quality service and there are others with all eyes on the 'money', and none of the customer in front of them. So, here we have complied a helpful guide with selecting the right claim management company who can help you…

  • Guarantees or promises

There are several claim management companies out there who make all kinds of promises and guarantees of success but NO COMPANY CAN GUARANTEE SUCCESS WHEN IT COMES TO PPI CLAIMS! Even though the vast majority of people do go on to make a successful claim, there are instances when it is ruled that the customer is not entitled to compensation.

  • How long have they existed

Many companies of this ilk were created specifically to 'help' people claim PPI compensation. Other companies created a PPI compensation 'arm' to their business that deals specifically with these cases. To get the best service, at the right price, you do need to look at the pedigree of the claim management company and, how long they have been operating. 

  • Success rate

Important but not the only statistic to base your decision on is their success rate. You are looking for a firm that boasts a rate of 90% or more. But again, if they are a new company who have handled only a few cases, this success rate can be misleading. Ask them how many customers they have actually helped and this will form the basis of this success rate.

  • Assessment process

ALL potential claims for PPI compensation need to be assessed. No one can say with certainty, until they have looked at all the facts and figures whether your case has a chance of success or not. Hence, expect the company to ask for information from you… if they don't, alarm bells should be ringing!

  • Fees and when you pay them

Claim management company do charges a fee for their services, much like other professionals do. Always check before you ask them to help you with your case how much they charge and, if your claim isn't successful, do you pay anything then…?