SYC is a claims management company who make it very clear that you can reclaim missold PPI yourself. It is not necessary for it to be done through a claims management company. If you have only one or two credit cards or loans etc it is easy enough to do it on your own.
However, if you have multiple debts - whether you are in a debt management plan or not - they can do it for you. They charge 12% plus VAT for any successful claim. So far they have claimed back over £7 million for their clients - some of which has been offset against their debts thus reducing the amount they have to pay back in their debt management plan and in some cases clearing their debts completely.
One of the reasons it was set up was because people were going to other claims management companies and losing money paying upfront fees or getting the money offset from their debt but then having to pay the company's fees.
They have a website you can use called www.stakeyourclaim.co.uk
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