Shows progression towards eliminating fraud
Bury, Lancashire -- (SBWIRE) -- 09/11/2012 -- Claims Management Companies have been taking advantage of customers where its concerns misrepresented payment protection insurance (PPI). This obviously makes them answerable to the customers for the large scale complaints and dissatisfaction. Even after they have exploited customers they still take cuts, amounting to 25 percent, for any compensation or service that is given.
The Legal Ombudsman of 2013 will now be taking up the task of handling all customer problems. This has been declared by the government and was in the wake of recent findings. This body has the legal power granted to ensure that customers are given compensation where they are not at fault.
After this change, the Claims Management Regulation Body, will come under the control of the Ministry of Justice to improve their workings. This will also help to take active action against and fraud of deceit that takes place through CMCs.
Kevin Rousell, who is the head of this regulatory body said: “This step is great news for all customers because it is a progression towards eliminating fraud in this market,” according to telegraph.co.uk.
The head of the legal department at Building Services Association stated that this situation is crucial because most of the customer dissatisfaction originates from PPI. He also stated that these complaints are 74 percent of the total problems that come in.
Furthermore, customers only seem to have problems with only 15-20 of the total firms that are licensed to deal in finances. Moreover, complaints have been forwarded regarding why these few firms have not been closed during the last year, since they are responsible for the malice going on. These complaints also came in from the BSA who wanted to know if these were amongst the 260 firms closed last year.
The Ombudsman will start to take over these issues in 2013 from the Ministry of Justice. Moreover, suggestions regarding signed contracts between the companies and clients have also been forwarded.
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