Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Flood of PPI claims lead to long wait for cash, says FOS

Due to the flood of claims for mis-sold payment protection insurance (PPI) to the Financial Ombudsman Service (FOS), Brits can expect a long wait for their cash to come in.

According to This is Money, the FOS expects the number of claims to double in the next year, which means claimants could be waiting for up to a year, when normally the period is between three and six months.

It is expected that there will be double the 165,000 claims in the 2012-13 period, which is double the number estimated at the beginning of the year.

The deluge of claims has meant that the FOS has had to increase its staff levels by 25 per cent just to be able to process the claims.

Banks have to not only pay compensation for the mis-sold premiums but also must pay for FOS staff to process the claims and case fees.

Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking.ADNFCR-2776-ID-801497308-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide