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News

PPI Reclaim Company Given A Wrist Slap By Advertising Agency

One of the firms specializing in recovering money from missold payment protection has been given a wrist slap by the Advertising Industry Watchdog following complaints that it had ‘misled’ those on it’s mailing list.

Premier Financial in Dorset had sent an e-mail out to potential clients noting about it’s ‘easy’ reclaim service, also claiming that it there was a 70% probability that someone who took out a loan in the last five years would have paid for PPI. Not only this, but the e-mail also included logos from both the Citizens Advice Bureau and the Financial Services Authority.

Lloyds Banking Group were the first to make a complaint to the Advertising Standards Authority, challenging both the 70% figure as well as the use of the logo. Responding to the complaints, Premier Financial agreed that the use of the logos implied that the organizations endorsed their service, and agreed to remove them.

However, the financial firm maintained that they believed the 70% figure to be correct, following the 2005 FSA review on PPA which showed that 70% of certain firm’s customers had been sold PPI.

However, the ASA ruled that as the figures were five years old they could no longer be counted as relevant to the current situation of missold payment protection and that the figure would have to be removed from all future advertising.

To find out more about a missold payment protection claim firm that can be trusted, visit Creditline Financial now by clicking the link here.

Posted by Shaun Edwards on 30 Dec 2010

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