All claims management companies are not rogue traders, argues Mitchell Farrar.As companies handling PPI claims receive criticism from programmes such as BBC1’s Watchdog, one Claims Management Company is strongly defending its position as a reputable operator within this market with compliance and customer focus firmly at the top of its agenda.
The Mitchell Farrar Group, which runs Investor Compensation (Claims) LLP and its website ppiclaimback.co.uk, has hit out at reports positioning the industry as unscrupulous as a whole, citing examples from disreputable firms in suggesting these practices are widespread.
The Manchester based company is keen to highlight that Mitchell Farrar in particular worked tirelessly on behalf of consumers to expose the PPI scandal in the first instance and ensure that banks refunded consumers where they were due.
When working on customer claims, the company never charges up front fees like some and has a total customer focus policy and a specific commitment to compliance.
Jim Rowley, group managing director at Mitchell Farrar believes it is this that sets the company apart from others in the sector and leads to a steady flow of complementary feedback from satisfied customers.
“As a reputable business, we are fiercely proud of our compliance record and have recruited a specific compliance director with a wealth of expertise to ensure our transparency and strict code of conduct is adhered to.
"As media reports have outlined, some operators in this sector may not be as committed to customers – and indeed staff - as we are but it’s important that the sector as a whole is not targeted broadly and brought into disrepute across the board.
"We believe our professional standards to be amongst the highest in the industry and will continue to help consumers in the rightful pursuit of their compensation”.
“The number of our PPI customers continues to increase, with figures in June, July and August being the company’s highest ever.
"We regularly receive emails from customers who go out of their way to praise our staff and confirm that they would not have pursued a claim without our professional help.
"We are seeing some great successes for customers as a result of the beneficial relationships we have built up with banks and customers alike.”
“Treating customers fairly is always at the forefront of our business when undertaking a claim on behalf of a client that has been mis sold a policy, and as a regulated firm, we are also mindful that we must operate within the regulatory frame work of the Ministry of Justice.
"All scripts are reviewed and call monitoring is undertaken. We believe our professional standards to be amongst the highest in the industry.”
Claims Management Companies initially formed when consumers originally faced barriers when dealing directly with the Banks.
The services of a Claims Management Company assist the consumer in making their claim and provide expertise to ensure they receive the full refund they are entitled to.
It was commonplace for consumers to be offered less than they were entitled to, by means of an ex-gratia payment or a goodwill gesture.
Some comments from customers of Investor Compensation follow:
"I would never have had the knowledge or confidence to claim for PPI from start to finish, if it hadn't have been for Investor Compensation. They helped me a lot which, in my case, led to a settlement payment of over £80,000.
"I would urge anyone else in the same situation to get in touch and get the ball rolling. I know it might be daunting at first but it is worth discussing your situation with a trained professional who is used to dealing with PPI claims regularly."
“I would like to say a big thanks for all you have done and are doing, receiving money I didn’t think I would have any chance in getting, so once again thanks very much.”
Jim Rowley, group managing director at Mitchell Farrar also added:
“The Claims Management Companies have helped to raise awareness of a major mis-selling scandal for millions of people and have helped bring the banks to justice.”