• free credit report UK from ExperianAre you in arrears with credit cards, store cards, personal loans or overdrafts?
  • Been looking to claim back Mis-Sold Payment Protection Insurance / PPi on credit agreements you may have paid off or still have outstanding?
  • Currently on a Debt Management Plan and wondering why fee charging PPI companies are not falling over themselves to take on your PPi Claim or case?

When you claim back PPi or Payment Protection Insurance that may have been mis-sold to you, the lender will pay you back the money they owe in full.

If you still have an outstanding balance with the particular lender that you are claiming back mis-sold PPI from then this lender has the right to reduce your debt by what they owe you instead of sending you the funds directly! This is why fee charging PPI claim companies struggle to get paid their fees if you are in arrears or on a debt management plan.

It is often the case that the money you get back as a result of winning your PPI claim does not add up to more than what you may have outstanding, therefore you will have to find the fee to pay the PPI company which can be up to 30%.

For example;

  • John B owes £4500 to Lloyds TSB Card Services
  • He wins a PPI claim against Lloyds TSB for £1000
  • He has used a PPI claim company that now require £300 or 30% of the £1000 won as their genuine fee for making Johns claim.
  • John now owes Lloyds TSB £3500, but now also owes a PPI company that won his claim £300 which he does not have!
  • John is also on a debt management plan so the fee he owes the PPI company will have to be added onto his debt management plan, this in turn means that the PPI company has to wait a long time to get the fee they are owed by John paid back in full.
  • This is why most fee charging PPI companies do not want to make PPI claims for people in arrears or on debt management plans.

At Lewis Alexander we are licensed under the Consumer Credit Act by the Office of Fair Trading, this allows us to carry on the activity of debt adjustment and counselling, we are NOT licensed or regulated by the Ministry of Justice in respect to Claims Management Activities so we do not engage in the fee charging sector or services of mis-sold PPI claims.

  • We offer our clients who are on a Lewis Alexander Financial Management Plan the benefit of our knowledge and get them the forms they need that enable them to understand how to claim back PPI for free themselves.
  • All it costs is their time.

The information required to enable someone to claim back mis-sold PPI without paying a company a fee is readily available on the internet from sites such as “Money Saving Expert” and “Which” the consumer campaign organisation.

However, it is always reasonable to get a company to do the job for you as long as you can afford the fee they charge and have the funds to pay if your accounts you are claiming against still have outstanding balances.

  • Some people genuinely struggle with forms and finding the right way to get claims processed so this is another reason why we get the forms for our debt management clients free of any charge.
  • Our clients conduct the claim themselves and this way save any PPI claim fees.

When people switch debt management plans or move debt management company or service, they are often re-charged another set up fee or arrangement fee by the new debt management company that they have selected for the debt help.

This is not the case when switching debt management plan to Lewis Alexander Financial Management. We do not keep your first payment when you move debt company or services to one of our debt management plans; this is only if you have made a normal monthly payment to any other debt management company or service within the last 3 months of joining us.

This means your creditors will receive a distributed payment from the first payment onwards that you make to Lewis Alexander Financial Management.  Again, this is limited to clients who have made payments to other debt management services within the last 3 months.

If you would like help with debts or simply wish to move debt management company or services and see if there any benefits for you in doing so, then please call our debt management helpline today using;

  • 0800 018 6868
  • Lines are open 24 hours a day / 7 days a week
  • Calls are usually FREE from a UK land line
  • From mobiles it may be less expensive to call 0161 872 3383
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  • The last 2 weeks have been most ironic for news regarding PPI Claims in the UK.

First off, the BBC called upon a fee charging debt management and insolvency company director to offer advice on the breakfast show about how to claim back your PPI (Payment Protection Insurance) for free.

The personal debt management and insolvency company director was not heard rushing to recommend the free to client debt charities that can help with self debt management plans such as the CCCS (Consumer Credit Counselling Service) or the National Debtline etc.

The BBC are regularly reporting on the problems within the personal debt management sector.

The fee charging side of the debt management industry who mostly are and do remain compliant get a tough ride from the news and it is rare to see an independent compliant industry member given the opportunity to publicly share views regarding compliant fee charging operations.

Why did the BBC simply not decide to have an IFA (Independent Financial Advisor) who has no commercial fee charging connection or gain from the personal debt / insolvency industry offer advice on how to claim back PPI for free?

What the BBC seem to have done is recruit a number of local professionals “up north” who make guest bookings easy for the news channel and gives them industry content for the business news, better research would ensure the correct message reached the correct people with what we believe should be a balanced message.

A comparable analogy for what the BBC did with the PPI industry last week as referred to above could be viewed as asking an active Political Dictator to advise another currently democratic electorate on policies that should be undertaken and implemented for the benefit of that currently democratic state.

The BBC did not come over as balanced in reporting about the good PPI companies if mentioned at all, no defamation is meant as this is written by a fully paid BBC TV License (2012) holder!

Martin Lewis from Money Saving Expert has teamed up with the consumer action / review group Which to offer free advice on how to claim back PPI for free, or doing it yourself.

We have been led to believe without confirmation that money saving expert run by Martin Lewis operates by receiving a commission for a link or click through for savings and offers as referral payments for sales generated by the money saving expert site.

  • Does the link up with Which not get Martin Lewis extra revenue at the end of each day?
  • Is this now a bandwagon that all are jumping on for whatever gain is possible?
  • Who can be trusted as 100% transparent?
  • Why is he not mentioning this on Watchdog when commenting on other financial organisations?
  • It would be leading by example if Martin put his “how the site is funded” info at the top of his site with transparency and equality regarding prominent compliance.

As with anything in life, you can either pay for a service or decide to do it yourself.

Let’s consider some choices in daily life that we face on the above decision making basis;

  • Car Servicing – Do it yourself or get it done by a mechanic?
  • Breakdown Cover – Use the RAC / AA or call a mate to collect you?
  • Health Care – BUPA v National Health Service (NHS)
  • Dentist – Dental insurance plan, visit a dentist or pull your own teeth out?
  • Washing – Do it yourself or visit a Cleaner or Dry Cleaner Service?
  • Job recruitment – Find a job yourself or use a recruitment agency?

We can go on listing many silly and relevant arguments for the above question of doing something yourself or paying for a service.

Usually when you employ the services or enlist a professional to undertake work for you, it is with peace of mind that the service will be a bona fide one.

Affordability, time and personal choice along with ability are the four main factors that dictate the mental decision process of enlisting paid for help or going along the DIY route in life!

When consumer groups talk about people not being aware about PPI companies charging fees we can quite understand this, however, there are bona fide PPi companies out there. Also out there are the bad ones that are exploiting the industry.

  • As with anything, the consumer must beware.

Then we have to consider the vulnerable consumer, who unfortunately due to a number of reasons actually can make what we call a “rod for their own back”

Most vulnerable consumers will wish to hear that what they actually want or think is right for them, is actually available to them!

  • This is where the problem starts.
  • A compliant and bona fide company will try to explain with conviction that the service or product (when considering the financial services industry) the vulnerable consumer is applying for is not actually the best solution for them.
  • A non-compliant company would try and sell the consumer something as close as possible to what they enquired for originally whilst still matching the vulnerable consumer to a service or product they purport to be able to deliver or supply.

The news reported that banks may win some consumer bonus points as they are writing directly to the consumer to offer PPI claim repayments where they internally evidence the client may be due a refund.

Why then, did the banks previously spend millions of £’s legally trying to win a Judicial Review to stop the requirement for Payment Protection Insurance refunds where applicable?

We appreciate the commerciality of the decision made by Banks but when taking into account the recent and current global economic problems, will it ever become policy or law for big business to incorporate a moral obligation into their business models?

Introducer and offer / savings styled websites such as Money Saving Expert, tell you to go direct to the people that miss-sold the PPI to you originally then legally tried to avoid having to repay it to you and are now offering you to deal directly to claim it back!

Are the bona fide PPI companies and debt management providers merely being reduced to the “Meat in the Sandwich” of the authoritative and media driven “big feast”?

Let’s accept the truth, if the banks did not make the error of miss-selling PPI originally and the credit companies did not overload people with unaffordable loans and credit facilities, the debt management companies and PPI companies would have nothing to do!

  • Chicken or egg scenario?

If you are suffering from any personal debt problems and feel that you would benefit from the assistance of a fee charging professional bona fide and time served established debt consolidation company then contact our;

Lewis Alexander debt helpline today in absolute confidence using 0800 018 6868.

  • Lines are open 24 hours a day / 7 days a week.
  • Your call is usually free from a UK land line.
  • Mobile call costs to our debt helpline may vary.
  • Please check before calling with your service provider.
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