The consumer group Which? has recently warned members of the public that another barrage of nuisance calls in regards to PPI is expected if the proposed deadline comes into force.
The FCA is still deliberating on whether to impose a 2018 ban that would mean customers only have up till that point to claim.
The banks are certainly pushing this thought process and it would mean that it would bring an end to what has been the most expensive banking scandal in British history.
Because of this however, the research done by Which? claims that it would cause most PPI claims management companies to ramp up their cold calling efforts as they attempt to bring in as much custom as possible before the end of the deadline.
Latest statistics suggest that over 30 million of us in the UK, have received large numbers of phone calls about PPI claims. It is also a worrying statistic that 98% of the people did not give permission to even be contacted in the first place.
According to the Money Advice Service, over 80% of people who claim PPI compensation are successful, with the average payout at around £3,000.
At iSmart we don’t partake in any form of cold calling. The only instance in which we do contact customers directly is if they’ve requested for us to do so.