Most PPI claims companies would claim that they are undeniably the best around their own area, which makes it more difficult to find a PPI claims company. However, here are a few tips that could easily help you find the most effective claims company that could work for you.
1. Accredited by the Ministry of Justice
When hiring a claims company, ensure that the Ministry of Justice regulates their activities. Countless fraudulent PPI claims companies may text message or cold call many consumers to urge them to make a PPI claim. If the MOJ does not regulate them, they can take your confidential information and sell it to other claims management companies, or even risk you identity theft.
Ensure that the claims company you will work with is just a 30 minute drive away from your home or workplace. PPI claims experts will need to update you on a regular basis personally. While a phone call or email might suffice for you, discussing the nitty-gritty details of your claim will need a personal touch from both sides. Even if a PPI claims company gives you a good deal but are located a few cities away from you, don’t bother at all.
3. Does Majority of the Work For You
You should expect the claims company to work for you on a full-time basis and all you need to do would be to explain your situation, provide the necessary evidences and information needed to construct your claim and be updated regularly for any issues or the progress of your claim. For example, PPI claims experts do not only make your PPI claim letter; they also ensure all evidences can retrieve you the full compensation you deserve, they follow up on your claims and ensure that all your claims are submitted to the proper channels
Cancel PPI before it makes you lose a lot of money!!!
PPI for most people is a poor deal and the PPI scandal has evolved as one of the biggest scandals in the UK financial market. While most of the times, PPI is mis-sold, there are times when people buy it and agree to the terms and conditions. However, since it is not the best financial product one likes to own, a person can always cancel the PPI. For most people, PPI means that a lot of extra money needs to be paid and consumers are overcharged by approximately 1.4 billion pounds on PPI. So, for people who still hold PPI, it is better to cancel the PPI before it makes them lose all the money.
If one wants to cancel the PPI, it is easy as most people have a legal right to cancel the policy within 14 or 30 days of the start of the policy; though PPI can be cancelled even if one holds it beyond this time. PPI policies which are attached to mortgages, loans and credit cards are usually monthly and it is always better to cancel these as well as there in no expense for cancelling the policy. However, one must always make sure to cancel all debts that one has for monthly payments.
A single premium policy that a person takes alongside a loan or financial agreement can also be cancelled now by the new rules introduced by the FSA. A single premium policy means that one has paid upfront already for the insurance for the whole term. In such a case, one gets calculated refunds for the single policy.
The PPI policy must be cancelled in time, especially if a person thinks that PPI claims will not be given and that the policy will only make the person pay extra rather than getting any benefits from it.