PPI Training Scheme Launched as Solicitors Flock to Sector

Aimed exclusively at the legal profession, the training programme provides solicitors with essential background on PPI; useful tips on how to identify key points in a financial mis-selling claim; and information on what makes a strong case.

The training scheme has been launched by claims specialist The Financial Claims Service (FCS), following considerable growth in the PPI claims market over the last 12 months. Tens of thousands of customers are seeking compensation from lenders and financial service providers, accused of mis-selling policies covering loans, pensions and mortgages.

Commercial litigation solicitor, Daniella Lipszyc, who is heading up the programme, commented: “Solicitors are increasingly looking to other sectors as a means of maintaining revenue streams, while other markets continue to suffer as a result of economic pressures and tighter regulations. The number of PPI claims launched against providers in the last year has grown significantly, opening the door for legal professionals to capitalise on the market’s growth.

“Increasing numbers of solicitors are opting to diversify their portfolio. However, the PPI claims sector is still very much at an embryonic stage. This course intends to equip legal professionals and their key fee earners with the necessary expertise to enable solicitors to take on and win a greater number of claims launched by disgruntled customers.”

A PPI helpline will also be launched by FCS to provide on-going support to the legal profession with additional training in other key areas such as unenforceability of loan agreements.

Lipszyc added: “Currently, solicitors are approaching the sector in an extremely tentative manner, because they don’t have sufficient knowledge of financial services to confidently take on PPI mis-selling claims. It’s only through experience and tailored training that professionals will build up expertise in this area and subsequently enhance their business.”

FCS, which is based on a more client-focused approach to claim resolution, was launched by Daniella Lipszyc and claims management specialist Anthony Sultan, in July this year. It specialises in the financial mis-selling of payment protection insurance (PPI), life insurance policies, pensions, endowments and investment bonds. The company also provides comprehensive claims advice on reclaiming bank, credit card, mortgage and loan charges.

The claims specialist has handpicked a strong panel of law firms to help deal with all financial claims, and continues to enhance its string of legal partnerships. It operates a ‘low volume, high customer service’ business model, ensuring that no cost is passed on to the customer in the pursuit of a claim. Unlike many of its competitors, FCS has chosen not to operate a ‘no win, no fee’ policy, where the customer typically pays 25% of any successful claim.
For further information about the PPI training course, please contact The Financial Claims Service on 0844 579 1717 or visit www.finclaim.com

Notes to editors:

• Daniella Lipszyc is a respected commercial litigation solicitor, who also has extensive experience in personal injury law.

• She began her career in medical PR before qualifying as a solicitor. She has worked in both the public and private sector. More recently, Daniella has worked in-house, providing legal advice for a claims management company.