Unemployment Insurance

On April 23, 2012, in Uncategorized, by Kesh Thukaram

Over the last few weeks, there has been a lot of press about PPI claims management companies and some of the facts are fascinating. While the banks have repeatedly said and continue to insist that they have a well streamlined process to settle mis-sold PPI and the ombudsman have done their bit in enhancing the awareness of the claims that several people may be entitled to, it has not stopped the rise in the number of firms offering assistance on PPI claims and the sector commonly referred to as PPI claims management companies. Most of us at some stage in the past 18 months would have been a victim of un-solicited aggressive marketing from the PPI companies and this is just one indicator of how some firms are keen on making a buck without adding a lot of value.

The statistics are interesting. There are about 700 claims management companies and they charge about 20% of the claims paid. As the banks have declared that about


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