When it comes to financial mis-selling individuals must make the decision to go it alone or use a professional claims company to recover all money that they are potentially owed. We find many people choose to use a complaints management company because they are nervous of taking on powerful institutions, and can be generally unsure how to tackle the process. Financial claims can be complicated and it is amazing how many of the banks’ customers have just putoff claiming because they don’t feel that they have enough knowledge, or don’t really have a clear idea whether they have been mis-sold. The trouble with such fears and uncertainties is that they can drag on, leaving the banks with YOUR money in their coffers. There are thousands of people who just do not feel equipped to handle their rightful claim, so it’s eventually filed mentally under the heading of ‘will get around to it someday’ and of course, some day never quite arrives.
A complaints management company has the experience and the experts
Complaints management companies overcome that ‘some day’ delay experienced by so many people who have been mis-sold a financial product. Having the ‘big questions’ answered by an expert gives a much clearer picture of the claiming process and starts the wheels in motion. Once you have an expert on your side it makes life a lot easier when it comes to filling out the paperwork and understanding your rights to complain. Many people just don’t have the time or patience to see through their complaint, but a complaints management company will be relentless in pursuit of the rightful outcome – the return of YOUR money.
Many customers feel that when there is money at stake they want to get it right. A claims management company knows how to present your financial complaint in the best possible light. Knowing what questions to ask in order to obtain all your complaint points is absolutely fundamental. A complaint company can trigger essential points that would have never seen the light of day unless they were coaxed out through knowing what to ask. The banks are not mind readers, so if you don’t flag up a point of concern suggesting mis-selling you shouldn’t assume THEY will bring it to your attention. The question is – do you think the banks are on YOUR side in all this?
Monitoring the banks and fighting on your behalf
Another advantage of using a professional complaints management firm is that they can judge the level of redress that is eventually repaid to you. Unfortunately, you cannot always rely on the bank to assess this correctly or to apply a method of calculation that is in your favour, rather than their own. If you think that’s far-fetched you only have to look at the so-called ‘alterative redress’ for PPI. That’s an example of where banks suddenly chose to significantly reduce their liability. They’ve just been caught out in this ploy, and previous PPI claimants have been able to return for additional payments. All of this can be double checked to ensure that you have been treated fairly.
As we have said but can justifiably say again, Claims Management Companies are relentless in pursuit of mis-sold products refunds, and will not hesitate to take your complaint to the Financial Ombudsman. This fearlessness is in remarkable contrast to the average complainant. YouGov reported that only 4% of those who thought they had potentially been mis-sold a packaged bank account eventually went to the extent of taking their claim all the way up to the Financial Ombudsman.
It’s good to have an expert to fight for you.