From today's Times:
''Claims firms have taken £155 million in commission in the past year from people applying for compensation for mis-sold payment protection insurance, according to a Times analysis of some of the biggest players.
Annual accounts filed at Companies House by seven of the largest claim management firms reveal multimillion-pound turnovers made from commission on payments to victims, whereby lenders mis-sold PPI to customers.
The largest of them by turnover last year was Claims Advisory Group which gernerated revenues of £40.4million through its 39 per cent commission on payments made on PPI claims. Its highest paid director earned £254.555 last year.''
''Claims firms have taken £155 million in commission in the past year from people applying for compensation for mis-sold payment protection insurance, according to a Times analysis of some of the biggest players.
Annual accounts filed at Companies House by seven of the largest claim management firms reveal multimillion-pound turnovers made from commission on payments to victims, whereby lenders mis-sold PPI to customers.
The largest of them by turnover last year was Claims Advisory Group which gernerated revenues of £40.4million through its 39 per cent commission on payments made on PPI claims. Its highest paid director earned £254.555 last year.''
PPI CMCs ‘grabbing millions for doing very little’
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