A new report has revealed that Britons are concerned about the nuisance PPI claims calls that they are receiving from their claims management companies. They have stated that these calls are a constant plaque in their lives.
There have been recent attempts made to crack down on the claim firms’ activities. However, a recent report has shown that these attempts have failed. It is estimated that 20 percent of people have been contacted by phone or via text message within the past 24 hours. Twenty five percent of people have been contacted during the past week.
Maple Leaf Financial have been campaigning for years to have these telemarketers regulated and controlled
Clamp Down on PPI Claims Calls
Two-thirds of the people have stated that they felt angry after being contacted. The same number of people stated that they felt like being contacted was an invasion of their privacy. Forty-five percent of people stated that they were worried about being contacted by the companies. They think these companies may have obtained their personal information. These companies randomly target individuals and try to persuade them to make compensation claims.
The government banned referral fees that were paid by claims firms, insurers and lawyers earlier this year. The maximum amount that solicitors can charge for whiplash and other minor uncontested minor injury claims has been reduced from 1,250 pounds to 500 pounds. This makes it less attractive to claims handlers.
However, nearly 60 percent of people have stated that they have not noticed a difference in the number of calls that they have received. In fact, 13 percent of the people surveyed stated that they noticed an increase in their communications. Two thousand people were questioned last month about how they handled CMCs.
The report is due to be published on Monday November 24, 2013. Forty-four percent of people surveyed stated that they did not know how to stop calls. They tried to prevent themselves from being contacted, but only six percent of them succeeded.
Christopher Parsons a professor at Cass School of Business. He has stated that CMC is persistent with contacting people, and they do not know what to do to stop it. In most cases, unsolicited marketing is disliked. People who are targeted often feel stressed and upset.
Eighty percent of people stated that telemarketing companies who contacted people on behalf of CMCs should be regulated more closely. They should also be fined if they abuse distribution laws.
David Fisher is a claims expert at AXA UK. He believes that the government should be doing more to protect the citizens’ privacy. Most consumers react negatively to CMC contact, but only 12 percent pursued a claim. Half of the people who pursued a claim were successful.
Many people believe that the maximum fine for companies who violate privacy policies should be increased to one million pounds. The fine is currently 500,000 pounds. Furthermore, people believe that it should be easier for people to report complaints.
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News for PPI Claims
New BT 6500 Landline to stop unwanted calls like PPI Claims
BT launches a new landline telephone – the BT 6500. This new phone can block unwanted calls from international and withheld numbers. The new phone can also have upto 10 telephone numbers manually added that require blocking.
BT says that this is a responce to their Nuicance advice line recieving over 50K requests per month. Some of the offenders are PPI Claims, Insurance and Mobile phone companies.
Can I make a PPI Claim when I am in IVA
Individuals who have been paying for Payment Protection Insurance for their loans or other debts may qualify for a mis-selling claim against a bank or the loan company. Recently, this issue has become controversial as banks try to minimise the number of people who file a claim. Nevertheless, there have been a lot of successful claims made already. With this, those who have an existing Individual Voluntary Arrangement don’t have to pay their creditors or any PPI provider.
Lloyds back in the red as PPI claims rise again
Lloyds Banking Group slumped to a loss in the third quarter after another £750m hit for payment protection insurance took the bailed-out bank’s total bill for the mis-selling scandal to more than £8bn.
The industry’s total bill for PPI is now close to £20bn and Lloyds said the £8bn included £1.7bn of administrative costs.
Mis-Sold PPI Co-Op Bank Increases PPI Mis-Selling Compensation Fund
Co-Operative Bank, which is a lender located in Britain, is increasing its mis-sold payment protection insurance, or PPI, compensation pot by 100 million pounds. Revisions have been made on the redress payouts. Co-Op Bank released a statement saying that the amount needed to boost its balance sheet will not be affected by the extra compensation provisions.
Tim Capper reports on Financial Mis-Selling for Maple Leaf Financial. Our aim is to ensure you get honest advice and proper guidance to ensure a suitable recommendation can be made to pursue a financial claim
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