The convenience of claiming back payment protection insurance is evident in a few different ways:
Firstly, there are many PPI companies that will attempt to contact you via “cold calling” cold calling is basically when a particular company makes attempts to contact you via your phone number, in an attempt to entice you into buying something or signing up to a service.
Because of the sheer volume of cold calls in the United Kingdom, it can be considered in general convenient to claim back PPI.
Also, another factor in deciding how easy it is to claim PPI is the fact that it is very simple to claim online, due to the volume of websites that feature an online application form, these simple forms take maximum one minute to complete and from there on in the PPI firm will contact you (in most cases) and ask you questions about your particular complaint.
The PPI company does most of the chasing, in most cases all the consumer must do is complete the quick online form and provide the information to the claims company when asked for it.
Claiming back PPI can be considered inconvenient also, but this is usually in circumstances where an individual makes an attempt to claim the balance themselves.
This is inconvenient because:
The person attempting to make a claim will know little about the process and may find the process itself quite complex and daunting.
Also, if the banks choose to reject a case, this can be problematic for the claimant as they might give up at this stage, however 4 out of 5 claims that are re-sent are later upheld by the banks so it is worth pursuing the claims through to their completion in most cases.
Also, when claiming yourself, you will have to pursue the case on your own behalf, there will be no updates from an independent company and thus you will need to follow through to the end of the complaint.
Many banks will try to avoid payment and therefore if you allow the banks to take such an opportunity, you may well find yourself in a situation where you have been owed some compensation, but you have not received it because you have given up too early.
In summary, claiming has its conveniences and inconveniences regardless of whether or not you decide to use a company or not, it is up to you to decide what is most appropriate for your particular needs.