Problems in claims industry are down to lack of regulation

I was interested to read the article in which Blu Debt Management argued that claims firms had left clients and brokers worse off.

The claims industry is still fairly new. Many firms are trying to ensure the laws are interpreted correctly and that if a consumer has been disadvantaged by an unfair contract they should be able to challenge it. Problems have been caused by the Ministry of Justice giving licences too readily and not policing the industry enough.

There’s nothing wrong with charging fees if you provide the service. As this service involves a person’s finances there should be involvement from a regulatory body.

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