A 2011 undercover operation by the Consumers Association revealed massive failings in the PPI Reclaim industry.
Among the worst culprits for this, according to Which?, were
Challenge Your PPI,
Fast Track Reclaim,
The Claim Guys,
Consumer Finance Claims,
Six of the companies investigated repeatedly told the caller they had more chance of success or would receive more compensation using a claims management company than by submitting a claim independently.
For example, WeFightAnyClaim, told the caller “you have over a 90% chance of claiming it through us, or under a 10% chance of doing it by yourself”.
Which? also found contract terms that were often unfair with typical fees of 30% of the compensation received (25% plus VAT), but there were often additional terms that were confusing or unfair.
As a result of pressure from Which? , Moneysavingexpert and others the regulation of PPI claims companies has been significantly tightened. However the advice from martin Lewis at MSE is still that making your own PPI claim is the best option.