Finding the best PPI claim company with a no win, no fee policy means you won’t pay a fee for starting your claim today.
Since August 2017, customers have been urged to start their PPI claims before the opportunity passes them by. The Financial Conduct Authority (FCA) has set 29th August 2019 as the official deadline for all consumers to make a PPI claim. The FCA has created a dedicated PPI claims website and hotline for people to find out about how to make a claim.
Consumers who are busy or who don’t want to make a claim themselves can use a trustworthy claims management company. Handling all communication with the bank means they do the legwork for you — including finding out if you had PPI in the first place. Many of these companies offer a no win, no fee PPI claim. Checking if a claims company offers this service is essential.
Since 2011, the banks have repaid over £34 billion to customers. Yet, despite this high figure, billions more are expected to be repaid before the cut-off date. For those who haven’t yet started the claims process, doing so sooner rather than later is advisable. The nearer we get to the deadline, the higher the number of claims that banks are bound to be dealing with, so the sooner you start, the sooner you will receive an outcome.
What is No Win, No Fee PPI?
You may have heard the term ‘no win, no fee’ but aren’t sure what exactly it means. If you use a claims management company, they might offer a no win, no fee policy. This means that if your PPI claim isn’t successful, you won’t need to pay the company for the work they’ve done.
Please be aware that cancellation charges may apply after the 14-day cooling off period. Always check terms and conditions before working with a claims company.
All reputable PPI claims companies operate on a no win, no fee service and will only charge you if your claim is successful. Consumers should always find a company that offers this service. Never pay a company an upfront fee.
It’s not just PPI claims companies that offer a no win, no fee service. Those handling personal injury claims or packaged bank accounts may also work on this policy.
How to Find the Best PPI Claim Company with No Win, No Fee
Most claims companies will clearly state on their website if they offer a no win, no fee service. If you can’t see it, always ask when enquiring with a company.
Listed below are features to look for when searching for the best PPI claim company with no win, no fee:
- Check customer reviews – The importance of checking PPI claims company reviews is crucial. Trustpilot has recent reviews from customers who have used various claims services. These reviews are valuable, as they offer honest opinions and experiences.
- How much does the company charge? – If your claim is successful, you’ll receive a payment from the bank. After receiving the money, you will pay the claims company for the work they’ve done on your behalf. Some companies will charge a large fee and will continue to do so until the fee cap regulation is passed. To keep more of your money, find a company who offers a low fee.
- Check all the paperwork before the claim starts – Before you sign any contract with the claims company, read through all the charges. This includes the service fee and any fees if you wish to cancel the contract.
Finding a no win, no fee PPI claims company may be easy, but it goes further than that. Choose a business that also offers the best service and has glowing testimonials, and you’ll be in the best position to win your claim.
Logican’s claims management software enables claims companies to manage cases swiftly and efficiently in the run-up to the PPI deadline. Request a free demo of the software today for your claims company.
