Money Saving expert is one of a number of websites that offer PPI letter templates so that people do not have to use a PPI claims company to make their claim. Founder Martin Lewis told the BBC “Often all these firms do is send out similar template letters to the ones we give people for free.”
Another organisation that is critical of the role of PPI claims companies is the Consumer Association also know as Which? Richard Lloyd of Which? told the BBC “It’s a scandal that too many CMCs have been ripping off consumers who don’t realise there are simple steps they can take to claim back their money themselves. We’re saying to people today – don’t get robbed twice.”
So the simple message is this – make your own claim and don’t get fooled into paying 3rd parties for getting what you are entitled to anyway. Many of the major banks and building societies such as Barclays are co-operating with Which and MoneySavingExpert.com by agreeing to ensure that claims made by claims companies will be dealt with in exactly the same way as claims by individuals on their own behalf and that no preferential treatment or speedier service will be offered in either case.
There is no magic ingredient to a PPI claim – all you need is to set down the basic facts, details of your account and the reasons that you feel that your policy has been mis-sold. You do not need to send your claim to a third party or to claim in court. The banks and building Societies have agreed procedures to process people’s claims under guidance from the Financial Ombudsman.