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1,000 jobs created...
Graham_Devon
Posts: 58,560 Forumite
To deal with the (still) growing PPI claim industry.
The FOS will take on 1,000 extra people to deal with the workload, predicted to rise by 45% in the 2014/14 financial year.
While good news that jobs are being created, how many claims can there possibly be that haven't already been dealt with? Recent figures suggested around 50% of claims were flase and fraudulent claims, so are some jobs being created simply to deal with fraud?
Why don't banks simply pay all PPI claims back to customers, without them having to ask? Surely it would be more efficient? Or are they hoping to hold on to some of the money?
Total bill is currently projected to be around £13bn. However, some expect this to rise. That's a LOT of money gone into the general economy.
http://www.bbc.co.uk/news/business-20970105
The FOS will take on 1,000 extra people to deal with the workload, predicted to rise by 45% in the 2014/14 financial year.
While good news that jobs are being created, how many claims can there possibly be that haven't already been dealt with? Recent figures suggested around 50% of claims were flase and fraudulent claims, so are some jobs being created simply to deal with fraud?
Why don't banks simply pay all PPI claims back to customers, without them having to ask? Surely it would be more efficient? Or are they hoping to hold on to some of the money?
Total bill is currently projected to be around £13bn. However, some expect this to rise. That's a LOT of money gone into the general economy.
http://www.bbc.co.uk/news/business-20970105
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Comments
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Graham_Devon wrote: »To deal with the (still) growing PPI claim industry.
The FOS will take on 1,000 extra people to deal with the workload, predicted to rise by 45% in the 2014/14 financial year.
While good news that jobs are being created, how many claims can there possibly be that haven't already been dealt with? Recent figures suggested around 50% of claims were flase and fraudulent claims, so are some jobs being created simply to deal with fraud?
Why don't banks simply pay all PPI claims back to customers, without them having to ask? Surely it would be more efficient? Or are they hoping to hold on to some of the money?
Total bill is currently projected to be around £13bn. However, some expect this to rise. That's a LOT of money gone into the general economy.
http://www.bbc.co.uk/news/business-20970105
Who said you never post positive news. Great news on the jobs front;).
Like you I really can't beleive the vast majority of real claims haven't been flushed through.
I thought official advice was to approach your loan provider and they were now rolling over for valid claims, rather than use a claim company.
I would have thought it a more responsible action for the FOS/FSA/Governemnet to put a time bar on any further claims and cap this whole sorry saga once and for all.
It is one thing to be stupid enough to take the policy in the first place, it is double stupid not to have claimed by now.
Who pays for all these jobs - ultimately the tax payer directly or indirectly.
Who will actually"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Graham_Devon wrote: »While good news that jobs are being created, how many claims can there possibly be that haven't already been dealt with? Recent figures suggested around 50% of claims were flase and fraudulent claims, so are some jobs being created simply to deal with fraud?
Yes. Seems it's better to turn a blind eye - maybe we should just call it innovative QE.0
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