You Don't Need a Claims Management Company for PPI Claims

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MoneySavingExpert.com & Which? Speak Out About PPI [23rd Apr 2012]

A survey conducted by MoneySavingExpert.com and Which? has indicated that just half of those surveyed know that using a claims service to claim PPI compensation is no more successful than doing it themselves. Claims management companies tend to take a fee of around 25% of the total claim for their services. Around one quarter of those questioned stated that they were not informed clearly enough that the claim company would take a fee and another quarter had no idea they could make a claim themselves for free. The survey also discovered that half of those who used a claims management company would never use one again and 65% had received text messages or call encouraging them to use a claims management company. Richard Lloyd from Which has said that most people didn't seem to know that there are simple steps which can be followed to make a claim and when they turn to a management company they are unaware that there are fees involved. Meanwhile Martin Lewis from MoneySavingExpert has said that the huge claims management industry needs to be more closely regulated.

Related Stories:
PPI victims swindled twice as claims firms swipe 25% - www.thisismoney.co.uk
Claimants in dark about insurance claim fees - www.ft.com
One in four consumers unaware of PPI claims fees - www.myfinances.co.uk

Farmers from Yorkshire are hoping to claim compensation after they were left without reliable electricity for more than two weeks. Many farmers lost lambs as the cuts took place during the height of the lambing season. The North York Moors National Park was hit by electricity cuts when power lines were downed by snow and ice earlier this month. The generators which were provided by Northern Powergrid have proved unreliable and some customers had no power for more than a 24 hour period - this means they are entitled to compensation. Farmers in the area have been especially hard hit and some have lost as many as 50 lambs because they could not use heat lamps during the cold snap. These farmers say that they feel their special case has been forgotten. Northern Powergrid have stated that they are working to repair the damage and apologise for inconvenience caused.

Related Stories:
Farmers lose lambs during cold weather power blackouts - www.yorkshirepost.co.uk

A security guard from Stafford has won compensation in an unfair dismissal case even though he breached health and safety guidelines. Keith Smith was also told by the judge that he was entitled to bonus money which was left unpaid when he was dismissed - however his compensation amount is expected to be low. Mr Smith had let a member of the public onto the site he was guarding because they were complaining about the noise. This is despite the fact that insurance would not cover the person if they were involved in an accident. It was also alleged by his bosses, Vallen Guarding, that he had a dispute with the cleaners on the site. He was dismissed for unprofessional conduct, despite having a five year unblemished record. Mr Smith counter-claimed that he was intimidated by one of his bosses. The judge has asked the guarding company to reach an out of court settlement on the compensation to avoid another tribunal meeting.

Related Stories:
Security guard's dismissal deemed 'unfair' - www.staffordshirenewsletter.co.uk

Victims of the failed brokerage firm MF Global UK have begun to receive their compensation payments from the Financial Services Compensation Scheme (FSCS). 14,000 forms were sent to customers of the firm earlier this year to tell them they could claim compensation to a maximum of £50,000. So far £130,000 has been paid out, but claims will not be paid out until the amount of the account has been confirmed by the administrators. The US brokerage firm made a bet on a European government debt last year which eventually led to bankruptcy. It is thought that around $700 million (US) was held in the UK arm of the business, but just £27 million has been allocated by the FSCS to cover compensation payments. All payments will be made in British Pounds after being converted from the US dollar amounts.

Related Stories:
FSCS MF Global UK compensation pay-outs reach £130K - www.fundweb.co.uk
FSCS commences MF Global payments - www.ifaonline.co.uk
FSCS makes first MF Global payouts - www.citywire.co.uk

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