Colin Hartness, the Director of Fast Track Reclaim, a PPI claims company, is embarking his company on its second recruitment drive this year. However, not many are quite positive as the number of PPI claims in the country had “died down” and demands for a PPI claims services company could lower.
According to Fast Track Reclaim, it had finished having 60 employees for its rapid expansion and is looking to hire a further 80 staff for different positions in its company.
Fast Track Reclaim receives annual revenus about £50 million annually.
According to Hartness, he doesn’t see any decline in the market. But in any case, he said that his company was branching out to other legal areas, such as advisers on competitive insurance rates or investing.
They will also be handling legal claims regarding packaged bank accounts that, according to Hartness, are sold to about 70% of people who paid for payment protection insurance claims.
Meanwhile, the entire PPI compensation bill is now at £23 billion with £16 billion already paid out to consumers. However, there is no sign of slowdown indeed as banks continue to commit errors and unfair assessments of complaints from consumers.