Island Life Magazine Ltd October/November 2015 | Page 150

FINANCE

Reclaim your

money!

JMP Partnership in High Street, Sandown, specialises in the recovery of PPI from
financial institutions. Although a small, family-owned business, the staff pride
themselves on knowing every detail of every client’s claim, and are always available on
the phone to help. The company has had stunning success in getting money back from
banks, credit card and loan companies over the last 9 years, and its expansion means that
it will be moving into larger premises on the High Street on November 1st.
Why are so many people still calling
you about reclaiming PPI?
It’s estimated that there are still billions
of pounds owed to consumers, but some
cases are highly complex and can take
years to complete, especially if you don’t
know where to begin. People come to us
because they don’t want the aggravation
of chasing things themselves.

I can’t remember what accounts
or account numbers I have had
in the past?
Undoubtedly the biggest barrier most
people face is that they don’t have any
paperwork or old account details. Our
job is to find the PPI, which we can do
very effectively because we have various
agreements in place with lenders that
enable us to search their databases for any
PPI polices that were sold to our clients.
When we find evidence of PPI, we raise a
complaint with the bank about the misselling. Our main job is to get the data to
prove that PPI was mis-sold.

If I do this, won’t the claims
company get most of the money?
No - most of it will come to you. We
invoice for 25 per cent of the total, plus
VAT, as our fee. Some refunds can be
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a lot higher than people might expect.
For instance, we recently had a case of a
client who received a refund of £24,000 in
respect of PPI sold in the 1980s, because
it included decades of interest on her
payments. The largest sum of money
we’ve recovered for one client in total
(from Ryde) was over £140,000. The
largest refund on a single credit card was
over £52,000

If I have an overdraft with my bank,
could my reclaiming PPI cause me
problems with my current banking
arrangements ?
This is a common misconception that
stops people from acting, because they
think they need the goodwill of their bank.
This is nonsense. If a client – especially
someone with a business – has an
overdraft facility with their bank, raising
a PPI complaint will have absolutely no
impact upon their banking facilities,
indeed the FCA has made it clear to banks
that customers should NOT be treated
adversely just because they have made a
complaint.

Can I re-claim PPI for my deceased
relative?
Yes – we have represented the families
of around a dozen or more people and