PPI claim: The role of claims management firms

Claims management companies can help consumers navigate the process of making a PPI (Payment Protection Insurance) claim, particularly if they believe they may be entitled to compensation under the Plevin rule. The Plevin rule states that if the commission paid to a financial institution on a PPI policy was over 50% of the total cost, it’s considered unfair. In such cases, the consumer has the right to claim compensation. If you were sold PPI and the commission paid to the financial institution exceeded half of the policy’s total cost, it’s a concern. In such cases, you may be entitled to a refund.

Claims management firms can assist consumers in determining if they are eligible for compensation and gathering necessary evidence. They can also help in submitting a claim to the financial institution. They can also handle negotiations and communication with the financial institution on the consumer’s behalf. In some cases, they can also help consumers who are denied a claim or offered a lower settlement than they believe they are entitled to, to escalate the dispute to the Financial Ombudsman Service.

“It’s important to note that claims management firms may charge a fee for their services. Before choosing one, carefully research and compare different firms. It’s also important to ensure that the firm is fully compliant with relevant regulations.

If you think you may be entitled to compensation under the Plevin rule, consider using a claims management firm. They can help navigate the process, this ensures you get the compensation you deserve. However, it’s important to act quickly as the deadline for PPI claims is August 29th, 2019.

PPI Claim - Plevin - My Claims Centre