Brace yourselves for Aggressive Cold Callers wanting to Claim Back your PPI (for a fee)

May 12, 2011 - PRLog -- The policy accompanies loans to cover consumers in the event of a fall in income due to illness or job loss.  However, many weren’t even notified that they were purchasing the policy and some were even told that it was obligatory.  

Whilst the court ruling is welcomed by consumers, they should prepare for a rapid increase in calls from companies offering the chance to claim their money back.

Cold callers whose plight it is to claim back the insurance have been voted the most irritating kind of sales call with 47 per cent of the vote, according to a survey from FinanceNews.co.uk.  PPI cold calls are reported to be amongst the most aggressive pitches that use high pressured sales tactics, compared with all other types of nuisance calls.
Banks will be forced to open millions of claims over falsely sold PPI policies.  This is highly profitable news for the companies who handle PPI claims on behalf of consumers as they charge fees for pursuing the compensation.  
The court ruling states that banks also have to look back at previous sales if PPI, even if those policy holders have not complained.  This means that almost everyone who has had a loan within the last few months could be eligible for receiving PPI cold calls.
There are also reservations to how these companies attain telephone numbers and details of those who have had a PPI policy in recent times.
A spokesperson for CPR Global said “The ruling coupled with the restrictions on ‘No Win No Fee’ claims as announced in the Budget for Growth, are expected to result in increased telemarketing activity as claim companies are sure to exploit the recent news and to take advantage of the situation”
Those who took out a loan in the last few years should take the necessary precautions to avoid these calls as these companies are some of the most persistent callers known to CPR Global, the UK’s leading nuisance call prevention service.  
Claim companies are known to use unscrupulous selling tactics and many of the callers are of an illegitimate nature because they aren’t regulated.  Once you have been stung by an unsolicited caller, you are highly at risk of receiving more calls in the future.
The Financial Ombudsman Service (FOS) has received 84,212 new complaints about financial providers between January and June, up three per cent on the final six months of last year.  PPI was the single most complained about case, generating 30,000 new cases; three times more than the combined totals for mortgages, investments and pensions.  
Consumers can protect themselves from the predicted wave of PPI unsolicited calls with the CPR Call Blocker.  It doesn’t rely on government legislations as it is pre‐programmed with 200 of the most persistent telemarketing companies’ telephone numbers that are recognised by the Call Prevention Registry.  This leaves ample space for the consumer to block a further 100 telephone numbers at the touch of a button.
For more information or to purchase the CPR Call Blocker, contact the CPR Global team on 0800 652 7780 or visit www.cprcallblocker.com.
ENDS
Media Contacts:
For further information or an interview, please contact Miss. Kathryn Powell, PR & Media Executive for CPR Global.
Telephone:    (01792) 474430
Mobile:      07585229614
Email:      k.powell@callpreventionregistry.com
Post:      CPR Global, York Chambers, Swansea, Wales, SA1 3LZ

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