Word Count: 272 words PPI Claim Companies Role In Securing The PPI claims of customers Keywords: PPI

Claim, PPI Claim Companies Payment Protection Insurance is designed to pay off loans or credit card repayments for a finite period of time if the person insured suffers an accident or is unable to repay owing to any contingency. PPI has been mis-sold in recent times which has made the PPI unenforceable even after payment of the insurance premium and has therefore given rise to many PPI claims. In order to take care of such claims, the concept of PPI Claim Companies has come about. These companies, also called Claim Management Companies (CMC), offer to handle any unresolved issues regarding PPI claims in exchange for a fee. Such companies usually charge from customers for either an up-front fee or they may ask the customer to pay a percentage of the final settlement that is negotiated. The customer has the option to either pay an upfront fee and keep the entire claim amount received or choose to secure the deal by paying off a fixed percentage from the compensation awarded. The option of exercising either option gives much flexibility as to how the customer wishes to proceed with the guidance being rendered to him and how he wishes to pay for such service. The main job of the PPI Claim Companies is to ensure that if there is a discrepancy between the PPI policy and the terms of the loan, then the entire amount including the interest and compensation by the court is refunded back to the victims amount. There has been good success of these companies in recent years and therefore, one may prefer to take their PPI matters to these companies if they deem fit.