Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Ppi claims pr7 article number 3


Published on

Published in: Business, Economy & Finance
  • Be the first to comment

  • Be the first to like this

Ppi claims pr7 article number 3

  1. 1. The UK’s ministry of justice has begun an inquiry into hundreds of claims management companies,after complaints from high street banks that the claims management companies are postingincorrect PPI Claims.Insiders say that the MOJ, which is in charge of managing the claims management industry andproviding licences to these companies, have gotten thousands of complaints from banks about theclaims management companies filing invalid PPI Claims.Data shows that UK banks are refusing to pay out PPI Compensation, to nearly fifty percent of all PPIClaims, which are being sent to them. In the past several months, the banks have reported a surge ofPPI Complaints.Eighty percent of all PPI Claims received by the banks are coming via these claims managementcompanies, who have been criticized for sending customers a flood of emails, text messages andtelephone calls, urging them to make claims for mis sold PPI.The PPI Claims scandal began in 2008, as a scandal, however following a high court ruling last year,the PPI Claims industry has taken off, when the banks surrendered to a legal battle against themhaving to pay out compensation to customers who were mis sold payment protection insurance.This ruling caused a flood of PPI Claims, initiated by the claims management companies, who usuallyreceive over thirty percent compensation for any successful PPI Claim.