Publicity regarding claims options for mis-selling of payment protection insurance on mortgages and credit cards seems to be gathering pace recently.
The National Consumer Agency argues you do not need to use a claims management company and they outline simple, easy to follow steps to reclaim for free - http://www.nca.ie/index.jsp?p=100&n=101&a=941
Claims companies are sprouting up all over the place and one PPI exchange gives reasons why you should use a claims management company http://www.youtube.com/watch?v=R0FP3JKsb8Y&feature=youtube_gdata_player
Claims management companies take up to 30% of the consumers reclaimed cash plus VAT as a commission. If the client details have been passed on to them by an intermediary then that intermediary can expect to earn 10% of the full claim amount. Every 100 successful claims are estimated to be worth around €50,000 in fee income for the introducer.
There are many firms popping up offering a similar service and I'm not convinced there are tough regulations in place to prevent consumer exploitation.
You don't and shouldn't feel you need to pay to reclaim.
The National Consumer Agency argues you do not need to use a claims management company and they outline simple, easy to follow steps to reclaim for free - http://www.nca.ie/index.jsp?p=100&n=101&a=941
Claims companies are sprouting up all over the place and one PPI exchange gives reasons why you should use a claims management company http://www.youtube.com/watch?v=R0FP3JKsb8Y&feature=youtube_gdata_player
Claims management companies take up to 30% of the consumers reclaimed cash plus VAT as a commission. If the client details have been passed on to them by an intermediary then that intermediary can expect to earn 10% of the full claim amount. Every 100 successful claims are estimated to be worth around €50,000 in fee income for the introducer.
There are many firms popping up offering a similar service and I'm not convinced there are tough regulations in place to prevent consumer exploitation.
You don't and shouldn't feel you need to pay to reclaim.