The UK government and the financial industry had accused claims management companies for getting paid more while doing less. In reality, the best PPI claim company must do so much to ensure that all PPI claims get refunds, but they never get paid anything if they lose the match. Rogue PPI claims companies are the ones charging for faulty services that had gained them thousands of pounds per case due to up-front fees. Here are some things to know to ensure you’re not working with a rogue PPI claims company.
They Have A Claims Regulation Number
The Ministry of Justice regulates all claims management company activities. They are issued a Claims Regulation Number (CRN). You could find this in small print in their website. You could monitor the claims regulation number or you could ask about the activities of the claims company you intend to work with.
Claims management companies would provide free consultation. If you are charged for any consultation, this is considered an unfair trade. An assessment of your claim is the first order of business and should be free of charge. It is the legwork that gets paid for many reliable claims management companies.
Will Ask You For Proper Information and Have You Sign a Contract
The contract is a reflection of a company’s intentions. If you see anything that binds you without a fair share of the service i.e. up-front charges, legal billing, travel, etcetera, then you may be working with a rogue claims management company. Make sure to read the fine print carefully to avoid future legal troubles.