The Financial Ombudsman Service (FOS) has recorded a large increase in the number of complaints it has received about banks' handling of payment protection insurance claims.According to the figures, the organisation now receives 3,000 grievances each week from people who are unhappy about the way banks and lending providers are dealing with the refund process after misselling PPI in the first place.In the second quarter of the year, PPI claim complaints accounted for 38 per cent of the total number the service received.Soon, the FOS expects to receive its 300,000th PPI complaint and it believes the situation is a cause for concern.Sir Christopher Kelly, the FOS's chairman, said PPI claims will be a major challenge which the industry needs to overcome in the next few years.In April this year, a court ruling rejected a legal challenge by the British Bankers' Association to the way the FOS and the Financial Services Authority dealt with claims.John FieldmanHaving worked in the city for 19 years, John's main focus is interest rates and corporate finance.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
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* 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.