PPI Claims And Misselling Calls Voted Biggest Irritant



PPI voted most annoying hard sell

PPI voted most annoying hard sell

Financenews.co.uk has been to the streets for this one. We asked 100 people in the streets of Manchester, what their most annoying financial sales call was. The winner was PPI Claims with 47% of the vote, closely followed by debt services and insurance.

People claimed that by text message, 0845 number or 0800 number, they were most annoyed with the services offering to win back insurance on cards and loans. With an increase in the number of PPI claims increasing every day, companies are being more and more aggressive with their marketing.

People also reported the most selling activity taking place after 6pm when they had returned from work. It is likely that the conversion to cases is remarkably low for this type of marketing. Although with a claim paying out thousands, the rewards outweigh the costs for these companies.

Debt services and life insurance in particular were a close second and third on the irritant scale. BT and other services are much better at blocking these calls but many still slip through the net. It is currently illegal to cold call U.K people to promote financial services, as such, many companies are using offshore call centres to generate the leads.

Comments & Debate

  1. August 31, 2010 at 10:51 am Payment Protection Insurance Commented:

    The boom in the PPI industry has seen hundreds of companies being setup to help consumers reclaim ppi which could have been mis sold to them. These companies are pushing the boundaries in terms of what can and cannot be done legally to generate enquiries, whether this be through text messaging, phone calls and even door to door canvassing. The Ministry of justice is receiving an alarming amount of complaints from consumers from such companies and is looking to take action against anyone found in breach of their claims marketing policy. Most people are not aware, but you with a little research and hard work you can actually reclaim PPI yourself without the need of an external company.

  2. November 3, 2010 at 1:51 am PPI Commented:

    This is intresting artical, people in the uk have been mis-sold payment protection insruance by back for the last 10 years and from a legal point of view. The law and FSA has been very slow to stop this selling practice.

    Also other finance sectors like pay day loans and equity release in the uk are very under regulated so they are also open to abuse form large compnaies looking to back quick money.

    But the scale of PPI policy being sold in the uk is amazing. 70& of loans sold in the uk had PPI sold with them. 90% of these insurance policies are not fit for purpurse and consumer doesnt know they have insurance. It was worriying to see that banks where able to dicate or make their own clauses to polices after consumer had signed up for the policy.

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