Watchdog bans ad by claims management firm that implied consumers were almost out of time to reclaim mis-sold insurance. The advertising watchdog has banned a radio campaign run by a claims management firm for using scare tactics that implied that consumers were almost out of time to reclaim mis-sold payment protection insurance (PPI) premiums. Payment Protection Partnership ran a campaign telling consumers that "time is running out" and that they should look to use its services to make PPI claims. The ad said: "2000? 4000? Just how much are you costing yourself by not checking if you were mis-sold payment protection insurance? You could be in line for thousands of pounds, but only if you claim in time. Because if you don't have the paperwork, time is running out."

Claims management companies, such as PPP, offer to take cases against lenders on consumers' behalf, usually on a no-win no-fee basis. They often take as much as 25% of the eventual payout, and lenders and regulators have urged people to make claims directly rather than through these firms. The Advertising Standards Authority received a complaint that the ad was misleading because there is no deadline for filing a claim about the mis-selling of PPI. The company said that consumers who think they may have been mis-sold PPI have to act because after six years providers were not obliged to provide details about their policy....Read more here: Payment protection insurance radio campaign banned