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Archive for tag: PPI Cold Calling

Cold Calling – how to find out if you really are owed PPI

Many people receive texts, emails and phone calls - letters too! - suggesting they are owed payment protection insurance (PPI) compensation. The format and language used in these communications often do a very good job in convincing you that you have a legitimate and eligible claim.

But, they are a double-edges sword - on one hand, you may have an eligible claim for PPI compensation but, on the other hands, they are a marketing ploy, engaged to draw you in and make a claim - through them!

What to look for

There are PPI scams out there, all working in a convincing and confident way to draw in unsuspecting customers. Think about these points before you react or respond to calls, letters of texts promising you thousands of pounds in PPI compensation…

  • Many of these scams have been carefully researched in terms of their 'target market - people, for example, who are too busy or perhaps are considered vulnerable (people in the older age brackets, for example) are considered to be people who will leap at the opportunity of claiming back thousands of pounds, but getting somebody else to do it on their behalf.
  • In a way, they are targeting the right people; the vast majority of people who use claim management companies like Payment Protection Scotland are aged 25-54 and are working, professional people, who, stuck for time, like the idea of handing over the hard work to somebody else.

However, legitimate claim management companies will also seek new business but, is there a way of sorting the scammers from the genuine companies? Follow these quick guidelines:

  • No genuine claim management company, like Payment Protection Scotland, will ask for money upfront; the vast majority of firms act on a no win, no fee basis
  • Neither will they ask for personal information before you agree to use their service; they may, for example, want to know where, who and when you borrowed money but they will not ask for credit card or bank account details at this point
  • A legitimate company will also boldly tell you how well they do in claiming back PPI compensation on behalf of their customers; usually expressed as a percentage figure, with the right assessment tools, a claims management company will have a success rate of 90% or more.
  • Keep an eye on how much they are charging too; too low, and the service may not be as expected and too high is simply a waste of money. They should also be upfront about their fees, not hide it in the small print.

Do you have a claim for PPI compensation?

Even if you are not sure, and would like to know more, contacting Payment Protection Scotland will not tie you in to making a claim; no obligation, no pressure, no fuss!