PPI Claim News - 13/1/2010

PPI complaints set to rise

The Financial Ombudsman Service (FOS), the body which arbitrates on consumer complaints against banks and finance providers, expects to receive a record number of complaints regarding payment protection insurance (PPI) this year.

It anticipates having to deal with 210,000 complaints in 2010, including 46,000 about PPI, up from 42,700.

The organisation is aiming to achieve a 27 per cent increase in the number of cases it is able to resolve this year. In 2009, it was able to sort out a total of 165,000 complaints, which was a 44 per cent increase on 2008.

A prediction that consumer credit complaints would rise by 55 per cent in 2010 has been issued, and banking cases by 16 per cent.

The FOS is funded by the financial services sector through a statutory fees as well as fines which are applied to firms which have four or more disputes referred to the organisation a year.

Established in 2001, last year money transfer services came under the Financial Ombudsman's remit for the first time.

For free advice on how to make a PPI Claim – Payment Protection Insurance claim or a credit card charges claim then call Belmont Thornton on 0845 526 0000 or fill in the Quick Claim form to be sent a free PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19554801-ADNFCR


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