It is important that consumers’ do their research when it comes to claims’ management companies due to the fact that there are so many of them trading that are in violation of regulatory legislation.
If you find a company that you are tempted to submit a claim with, you should check on a few things:
It is advised that you look at the terms and conditions to find out more about the service that the company you are interested in are providing, along with any associated fees and other elements surrounding the service. This link provides a lot of useful information http://ppiclaims4you.co.uk
Gibson Blake Claims Management LTD only charge 15% plus vat.
Many claims’ providers charge fees of 25% PLUS vat, however some will do it for a much lower price than this, so shopping around for the best possible deal is advisable, also, check that the company are not a “rogue ppi claims company” (as mentioned in this article)
You will most likely be asked to provide some information at some point in the proceedings, you can confirm this with the creditor who you made the agreement with in the beginning.
With so many claims’ firms closing down, the ones that remain are much more likely to be trading fairly, and not involved in any bad practices like many of the ones that have shut down, also the marketing is more likely to be more honest about the service provided.
Established claims firms will likely be a in position to attend to your claim more thoroughly than a new company that has little experience in doing so, so make sure that you look for a company that has been trading for at least 1 year, to avoid any issues around the processing of your case, and this also feeds into the point above about honestly, as established firms will have been looked at by the regulatory powers, and checked to ensure that they are fit to trade.
Its also important that they are licensed with the MOJ (ministry of justice) because if a firm is unlicensed this is illegal, and can result, in extreme cases to a firm being closed down due to Mal-practice… this has happened to well over 200 companies in the last year or so, and continues to happen today.
Beginning your claim quickly will help you get a timely payout for obvious reasons, (making sure you avoid getting caught in a “claims jam”) so this is advised, but this means gathering up your information quickly, the sooner you do this the sooner the processing can begin, and thus (hopefully) a successful claim for compensation.