Despite the
Financial Ombudsman and authorities warning on the services of PPI claims
management companies or CMCs to be useless because a consumer can get a claim
on their own, the consumer still makes the final decision. However, if you
choose to work with a CMC, finding the right one is crucial. Don’t go for those
providing sweet deals; go for the ones that provide quality for a good price.
A PPI claims
management company, specifically PPIClaimsAdviceline.org.uk, often has this
deal; if they can get you your refunds successfully, they get 25% off your
refund despite how much it truly is, but you do not pay for anything if they
fail. However, some CMCs do not make this arrangement clear to consumers, or
have very vague definitions. This particular situation even stretches towards
companies with Claims Regulation Numbers by the MOJ.
However, 25%
is worth it if the CMC will work for you during your busy work hours, or if
there are various complications resulting from your claim that takes time to analyse.
CMCs normally
get you what you deserve. However, be briefed about the final refund scheme you
get. Sometimes, your refunds may repay your existing debts as appointed by both
bank and claims handler as fair. This means you are indebted 25% of the total
refund to your claims handler.
