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UK Financial News From the latest UK financial news, and interesting articles about insurance, credit cards, and other useful tidbits, to special offers, and revealing finance tips from the experts, the stories and news items we display here will help to keep you informed.

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Articles   >>   PPI: Barclays and Which? warn against claims management companies

PPI: Barclays and Which? warn against claims management companies

Saturday, May 21 , 2011
View the full story at: http://telegraph.co.uk ... /PPI-Barclays-and-Which-warn-against-claims-management-companies.html

PPI: Barclays and Which? warn against claims management companies

Consumers could lose out on over £2bn in payment protection insurance (PPI) redress by going to claims management companies (CMCs).

With an average payout of £2,750 for mis-sold PPI and CMCs taking as standard a 25pc cut as their fee, consumers could pay £825 each for something they could easily do themselves.

What's more, people who claim back PPI sold with a loan could find themselves owing money to their CMC, even in the event of a successful claim. If the loan is still being repaid, redress often comes in the form of a reduction of the outstanding balance leaving the consumer to pay the CMC's fee out of their own pocket.


View the full story at: http://telegraph.co.uk ... /PPI-Barclays-and-Which-warn-against-claims-management-companies.html

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One Year On, Nationwide Keeps Its Promises
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November 2011 House Price Index
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