With the recent PPI claims scandal in full force people are asking themselves a multitude of questions in relation to PPI (payment protection insurance).

One of the major questions people are asking themselves is: “How Can I Find Out If I Have A PPI Claim?” and there are multiple options to this predicament.

Hire a solicitor to investigate your claim – this is probably the most costly and inefficient means of investigating whether or not you have a PPI claim because you will be paying the solicitor irrespective of the result (that is, if you hire an everyday solicitor instead of one working on a no win no fee basis).
You can pursue the claim yourself and carry out your own investigation – This involves you contacting the banks and trying to ascertain whether or not you have PPI, or searching through your old archives of information to find out if you have paid into a miss sold PPI policy.
You can also use a PPI claims company, which is a company that can handle and process your PPI claim for you (on behalf of you) some PPI claims companies even have a handy online calculator that you can use to find out if you have a valid payment protection insurance claim.

Advantages & Disadvantages Of Using A PPI Company

Payment Arrangements Vs Saving Money

Using a PPI company means you will have to pay commission to the individuals on the basis they have successfully helped you claim PPI, if you claim PPI without the use of a claims management firm then you will need to handle everything by yourself, however you will also save money claiming your own compensation (no solicitors or companies to pay commission to).

Convenience Vs Ease

Also if you choose to claim by yourself, you may have to deal with individuals as representatives of the banks that may wish to reject your claim, this has been known to happen and you may need to submit your case to the financial ombudsman, whereas if you’d have used a claims management company they would have taken care of this for you automatically which is generally considered to be more convenient.

Whatever you choose to do you need to make sure you don’t leave it too long before making the decision to claim, this is due to the fact that the Financial conduct authority (FCA) have implemented a “PPI Claims Deadline” which means that all new claims will need to be submitted by August 2019 in order for there to be an opportunity to successfully claim PPI.

It is advisable to get your claim in as quickly as possible because once the deadline is passed it is likely that new claims will not be accepted by the banks and other corporations that miss sold PPI.

If you have paperwork to hand that can help you, this can also be useful to you as it can save time in making your claim, (it counts as evidence) so it is worth checking any old filing cabinets or cupboards to see if you have paperwork laying around that could be of help to your potential claim.