It may be tempting to try out one of no win no fee PPI claims companies (CMC) but before you do you should perform due diligence in relation to the final amount you will have to pay. Although many no win no fee PPI claim companies state that there will be no upfront fees to pay many consumers have been charged extra fees.
Because there are so many companies offering a result base only service concerning compensation claims it can be quite daunting to figure out which is the best company to get in touch with. Did you know that nearly 600 PPI companies have been shut down by the Ministry of Justice, the main reason for this is because of misleading or false advertising and unnecessary extra fees.
There have been some horror stories where UK consumers have had to pay out nearly the entire compensation claim total winning amount to the PPI claim company, thankfully in recent times the MoJ (Ministry of Justice) has been able to regulate and enforce strict guidelines to PPI companies which is of course good news for people wanting to claim for mis-sold PPI.
You can use a PPI company to claim back for mis-sold mortgage PPI, mis-sold credit card PPI, mis-sold solar panel PPI and of course payment protection insurance payments on any type of loan that you have taken out in recent years.
So is it actually worth using a PPI company that provides a no win no fee service? The short answer is that if you do not want the hassle and stress of claiming yourself then there are some very good PPI claims companies that offer a professional service and have a good track record in winning PPI claims.
Because this website is not affiliated to any company we cannot advise you on the best company to go with but recommends that you search online in order to find genuine reviews on PPI companies from people in the UK who have successfully won their case and have received thousands of pounds in compensation.
Some of the broadsheet tabloids have published stories revealing full extent of the bad experiences that people have had with some PPI companies that offer a no win no fee service, it is important to keep the stories in perspective as they are often sensationalised and over exaggerated where in fact thousands of people are perfectly happy and get good results by using a PPI claims company that do not charge an upfront fee.
In any case the law stipulates and invokes a 14 day period where the consumer can cancel any agreement signed with a no win no fee company, this provides peace of mind and security the UK consumers who would like to hire a company to fight their PPI claim for them.
The new strict rules are set in place for the benefits of ordinary people who have wrongfully been sold payment protection insurance and as long as you research the company properly you can expect a professional and thorough service where trained solicitors will fight your PPI claims for you.