MSE News

Claims management companies

Steep rise in payday loan claims – but 1,000s are being stung by unnecessary fees

The number of complaints against payday loan firms soared by 130% in the past year, new figures from the the financial watchdog show. But the majority of claimants are using claims management firms, meaning they won't get the full compensation payout if successful.

16 May 2019

New rules for claims management firms from today

Unhappy customers who have used claims management firms will be able to escalate their complaints to the financial ombudsman from today, as the sector will now be regulated by the Financial Conduct Authority

1 April 2019

Claims management firms will have to give more info upfront

The financial regulator has published a new set of rules for claims management companies, including providing customers with more transparent fee information and telling them about free alternatives

18 December 2018

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