PPI claims: Of course you can DIY, but understand the pitfalls

Yes you can do your own PPI refund claims, but it’s just you against the might of the banks. With JMP’s 11 years of experience they help you navigate the tricky waters. Here’s a real-world example where people were told ‘No’ by their bank. JMP got involved and have now reclaimed over £50k.


When OnTheWight ran a recent sponsored feature promoting the services of claims management company, JMP Partnership, a couple of the responses from readers included ‘why give a cut of your money to someone else when you can do it yourself?’

We took this to Jon Platt, because we felt it was a question that needed answering, and he explained the many reasons why using a company such as family-run JMP Partnership (who have offices in Sandown and Cowes) could be the more beneficial route.

Firstly, if you were going to go down the DIY route to claim mis-sold PPI payments yourself, wouldn’t you have done it by now? Or perhaps you have and already been knocked back by the banks.

The banks have lied
As has been widely reported, banks have misled people on whether they are owed money. They’ve told the individuals who contacted them that they weren’t owed refunds (there’s a real world Isle of Wight example below).

A couple of years ago Lloyds Bank were famously fined a whopping £117m by Financial Conduct Authority (FCA) for unfairly rejecting an incredible 37% of claims. Telling customers they weren’t entitled to a claim, when they were.

JMP are motivated to fight hard for you
If you instruct JMP Partnership to claim on your behalf – which is as simple as giving them a call or filling out this form – if the banks tell them there’s no claim to be had, JMP won’t just accept the response, but will continue to dig deep on your behalf.

And because of the fee structure – all cases are on a no-win-no-fee basis with 25% (+VAT) of money reclaimed payable to JMP – they’re highly motivated to fight for you as hard as they can.

Obviously the more money they’re able to claim for you, the more money they gain for themselves.

Don’t put your foot in it
Another important thing to note is that by doing it yourself there are things you can say in your application that could damage your chances of later claims.

JMP Partnership are highly experienced in carrying out PPI claims, they’ve been doing this for 11 years and know each individual organisation that may have sold you PPI. They know exactly what to say and when.

Different rules for different companies
It’s not obvious to the man or woman in the street, but every bank or organisation worked by different sets of rules when setting PPI. You, as an individual, can’t hope to understand the rules for every company or how to explicitly deal with each of them.

However, JMP do know exactly how to deal with each and every one of those companies.

Many of the original companies have been bought and sold since the reclaiming of mis-sold PPI began, so often the company you think you’d be claiming from no longer exists or perhaps the liability has been transferred to another organisation.

Again, JMP’s 11 years of experience comes into play, unpicking this complexity.

Real world example of JMP in action
A real world example of the advantages of using JMP Partnership rather than going down the DIY route is perfectly illustrated by their clients, Mr & Mrs C.

When they initially contacted Lloyds Bank to make a complaint about mis-sold PPI, Mr & Mrs C were told they had not been sold any PPI on their accounts. That was back in 2014.

Jump forward three years and after hearing about JMP Partnership’s successes, they got in touch with the company.

From ‘No you can’t claim’ to £50k refund
To cut a very long story short (you can read the full detail on the JMP Website), after JMP’s involvement Mr & Mrs C have received over £50,000 in refunds from Lloyds Bank.

Yes, over £50,000! It took a lot of work by JMP, digging through masses of paperwork, but they were able to challenge the bank time and again over the various claims.

Had JMP not got involved, they would have walked away with nothing.

Get things moving today
If you think JMP Partnership can help you, or if you need some advice, there are several ways to contact them:

Complete the form on the JMP Website to get started.

Website: www.jmppartnership.com
Facebook: JMP Partnership (IW) Ltd
Sandown Office: 97-99 High Street, Sandown PO36 8AJ
Phone: 01983 403390
Cowes Office: 94 High Street, Cowes PO31 7AW
Phone: 01983 280100
Email: newclients@jmppartnership.com

Our thanks to the JMP Partnership for sponsoring this feature. Please support them, as they and other businesses taking paid promotion enables you to continue reading OnTheWight for free.

Image: slightlyeverything under CC BY 2.0

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Friday, 8th December, 2017 9:24pm


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