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PPI Claim News - 30/3/2012

 
Bank charges claims 'rising due to tough financial climate'

The difficult economic climate means more people are submitting complaints about unfair bank charges or other incidents where they believe they have been unfairly treated by their finance provider.

This is the observation made by chief executive and chief ombudsman at the Financial Ombudsman Service (FOS) Natalie Ceeney, who said there has been a noticeable rise in complaints as family budgets come under pressure.

"Complaints about debt collection are up 25 per cent on last year," she observed, adding many customers are experiencing financial difficulty for the first time and finding it hard to cope with the problem.

Stress and anger is evident in many of the letters sent in to the service, Ms Ceeney stated, adding  a credit card charge "really starts to matter" for people who are worried about how they are going to cover their rent or mortgage payments.

Many households are looking to improve their financial position by claiming against payment protection insurance mis-selling and the FOS recently stated it is expecting a substantial increase in claims of this nature in the coming financial year.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801330955-ADNFCR



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