iSmart Solutions

iSmart Solutions

July 27, 2012 07:33 ET

How PPI Payouts Have Reached GBP 4.8bn Since 2011: iSmart Solutions Viewpoint

LONDON, UNITED KINGDOM--(Marketwire - July 27, 2012) - So PPI claims management companies are in the news again - being beaten up again! What people fail to take into account is that, for many people, the choice to use a claims management company is a considered decision.

Yes, there are some companies out there who are not doing a good job for the customer - but you get that in all areas of business - and for those companies which are continually working to support customers and get them the refunds they deserve, the theme is all too familiar.

Taking too much money for filling in a couple of forms has a depressingly familiar tone.

But our customers tell us time and time again that they have approached their bank and been turned down - so they come to us to try and get a resolution for them. After working more closely with one of the 'big five' banks, and based on the information this pilot scheme provided, iSmart Consumer Solutions - one of the country's leading claims management companies - identified that in 7% of the cases where banks reject claims on the basis of 'no PPI', they were able to identify PPI, re-start the claim and gain a refund for our customer which otherwise would have been denied based on the original bank response.

In fact, one major high street bank was able to identify that the percentage of reject claims eventually progressed, quoted above at 7% is actually substantially higher at around 30%, again denying customers the opportunity of reclaiming what is rightfully theirs.

At the end of the day, it is the banks who have mis-sold the product - reputable claims management companies offer a service which thousands of people every week take up - that speaks for itself!

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