A lot of financial experts, the financial industry and the regulators say that claims management companies are a nuisance and are completely unnecessary. However, a customer who opted for a PPI claims company found more than what he wished for.
Arthur, of Wessex, just received a cold call from a claims management company. It was an automated message that told him he could be owed £6000 from their initial investigation in his account. Like all who receive cold calls, he shrugged off the call. But then, he got curious.
He had been paying for his car financing for five years and noticed that as his repayments have been leaning towards his principal, he was also paying more for some sort of item.
As he said “I looked into my billing statement and I found something interesting. It was an item I haven’t been able to clarify with my bank since day one of paying my car loan.”
To his not-so-surprise, he had anticipated it as PPI. However, he had no time to handle it. As a token of gratitude, he employed the PPI claims company who again brought it up for him.
He has a total of £8000 from PPI claims. According to him, his claims expert noted that he had also been mis sold PPI on the credit card he used to get a car loan. The car loan itself had a compound interest PPI.
“I could have claimed the £6000 on my own, but through my claims expert’s careful investigation, he found more for me” he said. “I am grateful for that one cold call that gave me more for my son’s educational budget.