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PPI: Banks forcing victims to take claim to FOS

Banks are forcing consumers who have been the victims of PPI mis-selling to take their claim to the Financial Ombudsman Service (FOS).

That is according to the FOS, which states that in many instances the claims could be resolved by the banks.

Indeed, it estimates that most of the 1,000 PPI complaints it receives a week should never have been referred.

Of all cases passed on to the FOS, approximately 90 per cent are upheld.

Furthermore, it is suggested that only 16 per cent of people take their case to the FOS if their initial complaint is rejected by the bank, meaning that significant numbers of people could be missing out on refunds they are entitled to.

FOS spokesperson Martyn James said that in most cases, the FOS should not be needed.

He told ifaonline.com: "The majority of these complaints should be resolved without FOS. All the information is out there for businesses to use to resolve these disputes."

Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.
 ADNFCR-2776-ID-800000638-ADNFCR



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