MoneySavingsExpert.com and Which? have joined forces in a bid to raise awareness for consumers on how easy it is to reclaim mis-sold payment protection insurance and tackle “unscrupulous” claims management firms.
Both firms have called a ‘PPI Summit’ for April 23 that will see all the major banks, credit card providers and the financial regulator in attendance. The aim of the meeting is to speed up the process of ensuring the £5bn-plus of unclaimed PPI is reclaimed as well as restoring trust in the PPI process.
There will also be a separate meeting with representatives of claims management companies.
The firm’s are also launching a radio campaign to raise public awareness that they can reclaim PPI for free.
Which? director Richard Lloyd says: “It’s encouraging that the banks are going to work with us to help put this situation right and help their consumers reclaim mis-sold PPI.
“We want to see real action to make it as easy as possible for people to reclaim their money. And we need the Government to speed up regulation of claims management companies.
“It’s a scandal that too many CMCs have been ripping off consumers who don’t realise there are simple steps they can take to claim back their money themselves. We’re saying to people today – don’t get robbed twice.”