PPI Claims handling firms

Many operate on a 'No-Win - No-Fee' basis

Payment Protection Insurance or PPI is insurance against being unable to pay loan payments due to unemployment sickness or incapacity. In the UK PPI has been frequently mis-sold. Over the last ten or so years a small industry has grown up of of solicitor and  non-solicitor businesses that help people obtain compensation for missold PPI policies.

PPI claims handling firms will fully prepare any PPI claims and can be instructed to recover not only the PPI but all associated interest. This applies even if the loan has been repaid in fact the older the claim the more interest will be recovered.

Please note if you decide to use a PPI claims handling firm it is best to use one that do not charge upfront fees and only charge if the claims handling firm is successful.

The growth in the number of PPI claims handling firms has been influenced by government policy initiatives – the introduction of conditional fee arrangements for personal injury cases and the requirement on insurance companies to respond in a particular way to complaints about the miss-selling of PPI policies.

Whilst solicitors are the principal providers of PPI claims management services and claims handling firms, the traditional culture of the legal profession, combined with the professional regulation to which solicitors are subject, allowed new entrants into the market who are regulated by the ministry of justice to carry out claims handling activities.

Regulation of PPI claims handling firms

PPI Claims handling firms are regulated by the Ministry of Justice in respect of regulated claims management activities

PPI Claims handling firms have authorisation numbers provides by the Ministry of Justice and their registration and other details can be found on the website www.claimsregulation.gov.uk

PPI Claims handling firms hold much personal information and so are registered with the Information Commissioners Office. Their registration number are recorded at www.ico.gov.uk

In addition PPI Claims handling firms solicitors are members of The Law Society www.lawsociety.org.uk

Help choosing the right PPI claims handling firm

Many of PPI claims handling firms provide a valued service, helping people who might not otherwise be able to afford to have access to justice.

Please note that there are some which mislead people or carry out various kinds of malpractice, deliberately or otherwise, and these should be avoided.

In the worst cases some PPI claims handling firms have had their authorisation cancelled becasue they were involved in fraud, while others were caught using misleading marketing and aggressive sales techniques.

Click here to complete your PPI Claim Form