Should I use a claims management company to make a PPI claim?
PPI claims companies add no value whatsoever and the sooner they’re hunted to extinction, the better.
Making a PPI claim is incredibly simple and any layperson who can fill in a simple form can do it themselves. And making a claim for PPI mis-selling yourself means you won’t have to pay out up to 25% of any compensation you’re awarded – unlike the situation with claims management companies.
Thankfully, banks are spelling this out for potential claimants now.
For instance, RBS letters say the following:
Should you wish to complain we would urge you to complain directly to us, rather than using a Claims Management Company ('CMC') which may charge you up to 25% of any possible refund as a fee. We treat all complaints received directly from customers in exactly the same way as one from a CMC.
I guess that’s progress.