Claims management firms are now handling more than three quarters of compensation claims for victims of mis-sold Payment Protection Insurance (PPI), figures have revealed. The number of individual claims made to the Financial Services Compensation Scheme (FSCS) by these firms – which typically take a cut of 25% or more of the total compensation – has also risen by more than three to one since 2010. This rise comes despite evidence suggesting compensation claims made by claims management firms have a similar success rate to claims made by individuals. However, the FSCS did disclose that uphold rate for claims made through third parties is just under 87%, compared with just over 83% for individuals....Read more here---: FSCS warns on Claims Management Firms