Making ppi claims doesn’t have to be complicated or expensive. If you have a reason to claim it is a good idea to work with a no win-no fee solicitor in order to seek compensation. The banks have already placed millions of pounds away from claims of this type after admitting that payment protection insurance has been miss-sold in the past. Unfortunately the banks will not contact you and simply let you have the money which is rightfully yours, you do need to put forward a case to prove that you deserve to have a pay out, and that is where solicitors can help.
Claimants with Representation Often Win Higher Amounts of Compensations
PPI claims are being made from people all over the UK. Many of the affected customers have decided to try and seek the compensation without profession representation. While this is possible the banks are not just lying down and admitting their errors, they will be aiming to fight you every step of the way, especially if they know you have no solicitors backing up your claim and enforcing your rights.
By taking on the bank yourself you risk being easily fobbed off or having an offer of compensation which is far lower than what you are really entitled to. For the best results a solicitor can be hired to represent you. If you are concerned about the cost it is always good to hire a solicitor who will not charge you their fees if you do not win. If you do win there is a chance that the lender or bank may be ordered to pay the fees, failing that the cost will come out of the amount of compensation you are awarded, usually at a rate of approximately 25%.
Safeguard Your Finances
There are other ways of protecting your finances in cases such as ppi claims too. If you lose the claim you may have to pay court costs but you can protect yourself against this. A good no won, no fee solicitor will give you all the advice and information about safeguarding against this cost in the form of legal insurance. You may also fall into the legal aid bracket too so you would not have to pay any fees out.