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Which? helps over 10,000 submit PPI complaints

No need to use a claims management company

Group of people

Which? has helped over 10,000 people submit a PPI complaint via our free online tool

Since the launch of our free PPI reclaiming tool in 2009, over 10,000 people have used it to submit a complaint to their provider over a mis-sold Payment protection insurance policy.

Following the judicial review in January this year, there has been an influx in claims management companies offering to help consumers get their money back for mis-sold policies.

But the Which? tool allows you to issue the complaint yourself – without being charged.

Free PPI tool

Which? designed the PPI tool to allow consumers to get their money back without the need to use a claims management companies, who will take up to 30% of any compensation you receive.

With the standard fee for a claims management company typically around 25% + VAT of the total compensation, consumers could pay an average of £825 for something they can do themselves.

I was tempted to use a 3rd party to make a claim on my behalf, but they all wanted monies up front of up to £500 with no guarantees, so decided to give it a try with your helpful guide, which has reaped its reward.

Ms P

£215m paid out in 2011

Figures from the Financial Services Authority show that £215m worth of redress was paid out in the first six months of this year to people who had been mis-sold PPI policies.

Banks have set aside £7.4bn to deal with the issue so there is still lots of work to be done to compensate consumers.

Most providers have to respond to a PPI complaint within eight weeks of receipt, although some were granted extensions of up to 16 weeks following the influx of complaints received after the judicial review.

Financial Ombudsman Service

If you’ve not heard from your provider within the agreed deadline you can escalate the issue to the Financial Ombudsman Service (FOS). Equally, if you’re not happy with the outcome you can also complain to the FOS.

The FOS has received over 200,000 complaints about mis-sold PPI policies since October 2010 and has upheld three in four cases in favour of the consumer.

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