Reclaiming PPI – Is It Really as Easy as It Sounds?

There are so many people trying to claim compensation for being mis-sold payment protection insurance over the duration of the last decade or so. Many people are unsure whether they can make a claim or not simply because they don’t understand the process and this has resulted in those people simply not making the claims.

This isn’t the right thing to do however, as you’ll be missing out on the compensation that you rightfully deserve. There are many people who have received thousands of pounds in compensation for the trouble and inconvenience that they have had to go through. Throughout this article we’ll be telling you exactly how you can do that also!

Doing It Yourself

There are two ways of making your claim, the first way is simply doing it yourself, the second way is going through a claims management company. There are pros and cons to each of these methods which we will discuss.

Many people opt to do it themselves as they don’t have to pay the commission fee that the claims management companies charge. Even though you are saving money by doing this, you also have to be quite knowledgeable in the industry and be willing to handle any problems in the event that they arise. Because of this, the majority of people are happy to go through a claims management company and have them deal with the claim on their behalf.

Going through a Claims Management Company

Filing your claim for PPI definitely isn’t much of an easy process permitting that you understand the industry relatively well – however, many people simply don’t have the time or aren’t willing to understand about the process. For this reason there is always claims management companies who can handle your claim and file it for you on your behalf.

Going through the process with a claims management company is much easier as they will be able to give you advice on any problems or concerns that you might have and they will be able to file the claim for you. In addition to this, they will also be able to deal with any problems that arise and take further action with you in the event that your claim is rejected.

To conclude, each way of reclaiming PPI has its own distinctive pros and cons so it’s important to take your own personal circumstances into consideration and determine which way would be best for you. Don’t automatically assume that one is better than the other as they are both valuable in their own right.