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Claims business not as easy as it looks, says expert

Carl Wright, director of Cartel Client Review, says inexperienced firms looking to cash in on claims management are coming unstuck because they don’t have the appropriate legal knowledge.

Wright says some companies are dabbling in claims management because it looks easy, but they are finding they can’t get written consent from lenders to clear debts or settle out of court.

He says: “Only a handful of specialist barristers deal with claims management so it’s impossible for anyone to just turn up and succeed in the business. Firms need to know how to approach lenders in the right way.”

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