The burgeoning industry which has sprouted up around reclaiming PPI payments has itself come under scrutiny by the OFT, following a wave of complaints that people using such services have been ripped off, by being charged exhorbitant fees for a service which basically consists only of filling in a couple of forms and popping them in the post.
A service for which Claims Advisors charge a disproportionate percentage of the recovered payments, often amounting to thousands of pounds. And a service touted by a number of disreputable and unsavoury 'Advisors' who according to some reports, often trouser the recovered lolly and disappear off the face of the earth.
"It's a parasitic rip-off industry, which feeds off another parasitic rip-off industry," Economist Nathan Bledsoe said today. "What's happening is that people are paying outrageous fees to recover money which originally paid for an outrageously audacious service, whereby claims were basically nigh on impossible to make. Put quite simply, people have had enough. I welcome any forthcoming investigation. Especially if it stops the bastards clogging up my email inbox. And I'm sure many others feel the same way."