The Financial Ombudsman Service handled more mis selling claims, including payment protection insurance complaints, from claims management companies (CMCs) than individual consumers in 2011, according to The National Audit Office.
Payment protection insurance was one of the three key areas where the involvement of CMCs was dominant. Mortgage endowment mis selling and bank and credit card charges were the other two primary focuses.
Claims management companies have been criticised for their practice in PPI complaints, in particular regarding their failure to inform customers that they could make a PPI complaint themselves, as well as leading customers to believe reclaiming PPI via a CMC is quicker.
Consumers who believe they have been mis sold payment protection insurance can claim directly with the lenders and, if necessary, through the Financial Ombudsman Service without any charge. However, while some lenders may settle a claim fairly quickly, others can take a long time and, in our experience, miss deadlines and/or make incorrect offers.
PPI Return is not a claims management company. It is a division of Goldsmith Williams Solicitors who is authorised and regulated by the Solicitors Regulation Authority under number 40489. We have been successfully helping victims mis sold PPI recover what is rightly theirs for over three years and have retrieved over £20m in PPI compensation. We have the knowledge and expertise to help you obtain the right amount of compensation that you may be entitled to as quickly as possible.
Unlike some CMCs, at PPI Return we cap our fees. This means you will never pay more than £1500 + VAT per policy, loan or credit card account. We recently received an offer for our largest compensation amount to date - £143,441. Had this customer used a claims management company, they could have had to pay around 30% of the total amount received as their fee (£43,032 + VAT).
Find out for free if you could have a claim for mis sold payment protection insurance by completing our no obligation online claim form.
