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Are claims companies cashing in on PPI?

Claims managers exploit PPI mis-selling scandal

PPI claims rumble on

Claims management companies are making billions of pounds from PPI mis-selling cases

Claims management companies have earned an estimated £2 billion by lodging PPI mis-selling claims on behalf of customers.

Claims Management Companies (CMC) are charging around 24% on average to tackle a mis-selling claim. 

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. 

Free PPI claims tool

Which? has created an online tool that guides victims of PPI mis-selling through the claims process. 

The tool allows people to select the company that sold them the policy, fill in their contact details and answer some simple questions. It’s free, and can be found in the PPI claims guide.

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Which? Money – Live pensions Q&A

Are you baffled by state pensions or Sipps? Are you worried about being able save enough for your retirement? Whatever your pension questions, Which? experts will be on hand to answer them during our live Q&A on Friday 1 July. 

Sign up now to take part in this exclusive event for members at www.which.co.uk/pensionsqanda, or log on at 12.30pm on the day to get involved.

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