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Great News for Exeter Business Network Member!

November 1, 2011

“IFA urged to find solid claims management firms”

An IFA has urged his fellow-advisers to link their clients with trustworthy claims management firms, amid concerns banks are under-compensating claimants for payment protection insurance.”

David Penny, managing director of Somerset-based Invest Southwest IFA, said he has referred at least 20 clients to a claims management company, which found they had been given less compensation on mis-sold policies than what they were entitled to.

Mr Penny referred his client to Debt Solutions South West.  Its principal John Hawkey said: “Banks have been instructed to payout fully, based on three components: premium, interest and statutory interest. I am seeing offers that come back excluding statutory interest or are so complicated in their calculations that you have no clue what is going on. It is not all lenders, but some of the major ones are indulging in these practices.”

Full Story here

By Marc Shoffman |First Published Oct 26, 2011




One Comment
  1. Ppi claims permalink

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