Which? hits out at claims management companies over PPI
Which? has slammed claims management companies (CMCs) for providing “all too common” misleading advice, unfair contract terms and a lack of transparency about fees after an investigation into payment protection insurance (PPI).
The consumer group conducted an undercover investigation posing as someone who thought they might have been mis-sold PPI. It contacted 25 CMCs and found that most did not follow the rules set out by the Ministry of Justice (MoJ). It added it discovered a problem with every company investigated.
According to Which?, two thirds of CMCs failed to advise the caller about the Financial Ombudsman Service and six repeatedly said the caller had more chance of success or would receive more compensation
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