The Nuisance Calls Task Force said that cold-calling rogue PPI claims management companies should be fined £500,000 to finally clamp down on “out of control” nuisance calls.
They also intend to have company directors to be held directly responsible for unwanted phone calls from their businesses. The task force stressed that cold callers should not cause “severe distress to consumers.”
This is just one way rogue PPI claims companies continue to plague Britons. Here are three more.
Text and Email Spam
As legal networks share information about potential cases of payment protection insurance with other related industries, rogue companies use the information to spam lists of potential claimants with text messages and emails. Some have even resorted to using phone books to text spam even children.
Bars the Resolution of PPI Claims
Legitimate claims companies only push on a case if they find that a claim is definitely strong. However, these illegitimate claiming companies only push names against banks. Banks then pay for administrative costs, which drive up the numbers of PPI expenses. This slows down the entire resolution and reclaiming process for many.
Damning the Industry
Because of such, PPI claims management firms are accused of short-selling and fraudulent activities despite their legitimacy. They have created a rift between the industry, banks, and consumers.