Claims management companies are quite unpopular. When I tell people I work for a company that handles PPI miss-selling complaints, I quickly add that we don’t make cold calls or send spam text messages. There certainly are some pretty mean companies out there and even we get cold calls to our office from other companies fishing for customers!
Despite all this, the people who like us the least are the banks. An investigation by an undercover reporter for The Times uncovered that one bank told its complaint handlers to turn a blind eye to fabricated PPI information on loan client agreements. Claims management companies know that banks employ stalling tactics, mis-calculate compensation, or use outright denial to avoid losing money. We know this and because of this claims management companies represented 72% of the 399,939 compensation claims brought to the Financial Ombudsman Service in 2013/2014 because of the banks failure to properly resolve complaints.
Despite all the controversy surrounding the whole issue, several years on, banks are still failing to deal with customers fairly with their PPI Claims and an alarming number of customers are simply fobbed off. We know their tricks and will make sure your complaint gets the hearing it deserves regardless of what the banks want. Little surprise there is little love lost between us and the banks. So if you are unsure about whether you have been mis sold PPI on a loan, credit card or car finance, get in touch with our office now.