Martin Lewis PPI Advice vs Claims Companies

Martin Lewis’s PPI claims battle has been raging for a few years now and he has almost single-handedly helped the people of the UK claim back their mis sold bank loans, credit card and mortgage payment protection insurance.  Without his outstanding dedication to this subject you can certainly say that there’d be thousands of folk still wondering what the hell PPI is let alone have actually made a claim.  Apart from his website (Money Saving Expert) he shares his knowledge whenever possible and makes regular appearances on UK mainstream television.  Some of the many programs he has featured on include This Morning, Daybreak, The One Show, Watchdog and GMTV.  He also had his own TV program imaginatively called ‘The Martin Lewis Money Show’.

He sold his financial authority website Money Saving Expert to The Money Supermarket for the grand sum of £87 million in 2012 and now remains as ‘Editor-in-Chief’. There you will find good information on how to claim back PPI and advice on how to get the ball rolling using template letters and forms that can be downloaded for free. If you get stuck his forum is a good place to find the answer to your questions. You will also find PPI calculators to assist you in working out how much refund you can expect to get. PPI claiming help for loans, mortgages and other types of credit is covered. To get a clearer idea of what’s involved in the ‘Do It Yourself’ claiming process watch the video of Martin Lewis describing how it’s done.

With all this attention focusing on how to claim PPI back for free it must have been a constant thorn in the side of PPI claims companies that were advertising on the same channels.  At one time you couldn’t get away from adverts being shown at every opportunity.  Things seem to have eased off a bit now but with recent news of an investigation by the BBC saying many refunds were underpaid, it could spark another round of being bombarded by commercials.

So which is better… using a claims company or doing it yourself?

The answer to this really depends on the individual and more specifically how confident the person is at basic personal finance.  For most people claiming back PPI on their own is an absolute breeze and is super simple to do.  Others however get very confused and shy away at the thought of the idea.  We would strongly advise ‘doing it yourself’ as it probably isn’t at all as difficult as you think it will be.  Of course you can go to a company but remember, it’s not free!  In basic steps the following infographic shows how it’s done for both ways.

Martin Lewis PPI vs Claims Company

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