Are claims companies cashing in on PPI?
Claims management companies have earned an estimated £2 billion by lodging PPI mis-selling claims on behalf of customers, report Which?
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This means the average cost of using a CMC is in the region of £825.
The use of CMCs is controversial as the claims process is straightforward, and anyone who has been mis-sold, or suspects they have been mis-sold is able to seek redress without help from a third party firm.
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