MSE News: 50% of PPI complaints via CMCs 'never had a policy'
Former_MSE_Dan
Posts: 1,593
Forumite
"Half of complaints made about mis-sold PPI by Claims Management Companies (CMCs) are on behalf of customers who never had the product in the first place, according to Lloyds Banking Group...."
Read the full story:
50% of PPI complaints via CMCs 'never had a policy'
50% of PPI complaints via CMCs 'never had a policy'
Former MSE team member
0
Comments
-
Well that might be because (in my case) I asked them to investigate my old Leeds Perm mortgage (subsequently taken over by Halifax) and they replied saying I didn't have PPI on my new mortgage with the Halifax! Ermm, yes, I know I don't have it on that mortgage, I asked you to look at a different mortgage...!!?!0
-
I would think that a lot of these are due to cold calling PPI Claims Firms who encourage these claims. However, I'm sure a lot are pure chancers, who know very well they haven't ever had PPI, but think they might get past the checks to pocket a few quid. Isn't this attempted fraud?0
-
Martin, I am delighted that you have played a tremendously significant part in resolving the PPI scandal. Unfortunately, as you know, this has resulted in claims companies wasting a huge amount of time and effort. Can I encourge you to continue to press ahead with calls for them to also be regulated. Those responsible for PPI mis-selling should correct the problem, but the huge amount of wasted resources handling false or fake claims is unhelpful to those that have genuine claims, which presumably could be settled in half the time.
I might add that many claims companies, seem to have obtained email, mobile and landline numbers for people without any apparent problem with the Data Protection Act.
Your site and audience are all clearly bright enough to apply for a claim on their own (in most circumstances). These claims firms end up costing everyone more, not just those that use them.0 -
Lloyds figures match similar elsewhere which report between a third and a half as being fraudulent complaints.
These are not claims companies. They are complaint generators who generate complaints whether there is a complaint or not.
If half the complaints dont have it then how many of the other half are also not genuine complaints but get processed as they do have PPI? Is it possible that more complaints by claims companies are fraudulent than genuine?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I get quite narked off at the amount of spam these claim management company's send me on a x directory and TPS registered mobile number.
Something should be done by the MOJ to stop them sending these spam texts and calling me at every hour of the day (and night) invading my privacy and harassing me to take out a non existent claim against the banks for compensation.0 -
I hate these PPI claim companies. My partner was getting pressure from one this week. She told them I've never had PPI and they said you might have had it but didn't know so should still put in a claim anyway. With this sort of attitude this report isn't a surprise. Wish people would stop using them and go direct to the banks.
You wouldn't use a broker to talk to your bank about anything else so why PPI.0 -
You wouldn't use a broker to talk to your bank about anything else so why PPI.
Dare I say it, it's people being so in "awe" of the Banks that enabled them to mis-sell PPI so widely and for so long.
The CMCs are now taking full advantage of this...0 -
I hate these PPI claim companies. My partner was getting pressure from one this week. She told them I've never had PPI and they said you might have had it but didn't know so should still put in a claim anyway. With this sort of attitude this report isn't a surprise. Wish people would stop using them and go direct to the banks.
That's pretty much what I was going to say, I'm getting increasingly irritated with these cold calls some of which are very pushy. I prefer to politely decline but more and more I just hang up on them now, I had one constantly at me that I may not have known I had PPI and they could look into it for me despite the fact I had made it clear I've never had a loan and only a single credit card which definitely had no PPI. I can easily see people getting pressurised into going with one of these companies when there is no PPI to claim.
The personal injury ones are just as bad...are you sure you didn't have an accident again after politely declining and pointing out I've not had an accident in years, yes I'm pretty sure I'd remember if I'd had an accident.
I did give one an earful the other month accidentally as I thought the call had come through a critical number, I fired off saying to them what on earth did they think they were doing phoning this number and to get off it immediately...the person apologised and hung up straight away. I then realised afterwards it was just a direct call to the mobile but I'm now thinking of applying this strategy more widely on these cold callers.
John0 -
ppidisgrace has gone quiet again all of a sudden.0
This discussion has been closed.
Categories
- All Categories
- 342.2K Banking & Borrowing
- 249.8K Reduce Debt & Boost Income
- 449.3K Spending & Discounts
- 234.4K Work, Benefits & Business
- 606.7K Mortgages, Homes & Bills
- 172.7K Life & Family
- 247.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.8K Discuss & Feedback
- 15.1K Coronavirus Support Boards