Financial Mis-Selling In The News Again Today

Whilst still reeling from PPI-gate which led to £billions in claims being paid out by banks to customers wrongly sold Payment Protection Insurance (PPI) the financial industry comes into the spotlight again today.  Apparently millions of Brits are being urged to claim credit card compensation as a result of being sold worthless credit card security insurance.  The Financial Conduct Authority has confirmed that a redress scheme has opened for two million people who inadvertently bought insurance they didn’t need.

Blue credit card with chain rapped across it and padlock securing chainThis comes to light as banks are still recovering from the fallout of the PPI scandal, which has been described as ‘a scandal with no equal’ and the Financial Ombudsman Service has recently highlighted packaged bank accounts as a potential further area for concern.

It is unusual to get through an evening of TV these days without seeing a claims advert of some kind. Even though many of the problems of the past may have been solved through a renewed focus on service and more stringent industry regulation, the aftereffects are hard to shake off.  One lasting legacy of PPI will be the emergence of a strong claims culture in the UK, with consumers now more aware of their rights than ever before.

As an innovative supplier of specialist software for law firms Select Legal Systems continually adds new case management modules to its library of workflows.  The LAWFUSION Financial Mis-selling Module was first made available in 2012 in answer to law firms’ needs to handle high volumes of cases of this type.

The software enables legal service providers to create cases for different types of financial mis-selling such as loans, credit card, store card, mortgage, hire purchase etc.  The software drives a series of steps to gather relevant information and produces the necessary documents and letters required for this area of law.

To see the list of LAWFUSION case management workflow procedures available please follow this link.  If you cannot see the work type you are looking for please call 01482 567601 as the team regularly adds new ones and chances are something will be available or will already be in development.

To request further information about the LAWFUSION Financial Mis-Selling Module or LAWFUSION in general please call 01482 567601 now or use our online enquiry form.