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Financial ombudsman comes under fire as insider reveals litany of bad practices


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The main problem I found with the FOS is that when they can't find any way to find against youn they comen up with an totally vauge decision and say that is their final desision. In my case I complained about the way MBNA calculated my monthly payment. I was told it was an incredebly complicated process and can't be simplified. When I argued that the process was simply 'x'% times the number of days I was told 'well we have decided its complicated and that our final decision'

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  • 2 weeks later...
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I've had very mixed results from the FOS. Recently got a loan reduced by over £3000 because the bank should have organised a repayment plan when I fell into arrears instead of a consolidated loan. Also charges back from a couple of lenders with their help BUT I have got nowhere on other complaints which I will now consider court on. Have you noticed they now have far more ombudsmen on staff but the majority of them come from the financial industry and not consumer champion organisations like CAB, National Debtline, Which? Etc. some come from the very worse companies like Eversheds, GE Money, Moorcroft etc. how can they be independent when they are responsible for south consumer detriment?

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This would explain why HSBC are not playing ball and said go to FOS. Contacted FOS helpline and was told opposite of what the BCOB states.

 

Small claims here I come then.

Advice & opinions given by spartathisis are personal, are not endorsed by Consumer Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.:)

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A WORD OF WARNING TO ALL

after three years sending the F.O.S proof that we have had three mortgages taken out in our names by a financial advisor from louth lincolnshire and now in a new home at dunholme lincoln, they have cost me over £70.000 and left me owing three mortgages in return the F.O.S along with there so called independant complaint officer as apolagised and as awarded me £300 compensation, and why so that they could get away from as many cases as possible and not upset the banks and others like kensington NEVER NEVER NEVER TAKE YOUR CASE TO THE F.O.S YOU HAVE BEEN WARNED

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Well its not just me then it looks very much like the fso and the fsa are well in cahoots with the banks and it seems also pretty clear having communicated with sheila nicholl of fsa and having also had dealings with the fso.that it depends on how pally they are with each other because some lenders will be dealt with an iron rod and told to comply with the rules whereas others are treated with kitten gloves and the fso dance round the importsnt issues and twist the regulations therefore allowing some lenders to continue treating their customers badly. and whatever udo dont ask for the reasoning behind their decision because they wont give u any. U will get a letter sayin thats my decision no more communication investigation concluded now go away

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They are just a wast of time the best example is kensington mortgages

who we have been to court with today in three yeasr there charges totaled £12.460

they had already just over £21.000 and we have to pay for the next four years £250.00 per month

and yet both the FSA and the FOS are willing to do nothing on a loan of 20.000

the loan was taken out fraudulantly and still i hold to be responsible when i was on incapacity benfits

to remember you want your head examining if you thinking about useing and more over trusting the

F.O.S in any way

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The FOS are a joke. We have been through the FOS with several problems with Capital One, Vanquis Bank, Lloyds Tsb and GE Money. We did get a payout of £1200 from Capital one for harrassment, overcharging us, but it took 3 years and many battles to get there. Ge Money - we had a payment plan in place for 12 months paying an additional £100 from the complaints department. The collections team overruled them and added charges and would not recognise the agreement. We also refused to pay by direct debit because of bank charges. Ge Money tried to tell us that we breached the contract every month because the payment was not in the bank on the 28th. However we proved it was and they backed down. The FOS ruled that because we would not set up a d/d they had every right to phone us as the payments were late. Which was a lie, the money left our account on the 21st of the month to be there for the 28th so we know that wasn't right. They also though that GE Money could ring us 5 times a day at home, 5 times a day to my husband and 5 times a day to me. Each day would answer and tell them about payment plan, but they would ring us again and again. The complaint against GE Money has now gone further but this is now 1 year since we started. Waste of time.

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when will our MP and other take note

 

When they get enough complaints

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  • 2 months later...

i totally agree they r a joke i had an ongoing complaint with them for over3years and in the end the result was better than with the first 3 adjudicators had managed but still didnt address half of the issues. my lender put me through hell and i had just had a breakdown. all they had to do was give me a bit of time to get some help by being an inpatient in hospital but i darent leave my home incase i was evicted while i was there plus the ongoing complaint with the fos. my lender did not help me in any way and refused point blank to modify my loan without any explanstion or reasoning behind their decision and the fos never bothered their arse to get them to explain either they are pathetic and the lenders get away scot free everytime u may get a few hundred quid back and a few charges reduced but that is nothing its pennies to these companies. then when ur complaint is over the lender goes back to charge u more fees and u can not go back to the fos for them to intervene once ur case is closed and u ave accepted their final decision. it is enuf to send anybody over the edge. but they picked on the wrong one with me because i maybe mentally ill but i am far from stupid and i am not going to give up that easily without a fight.

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  • 1 month later...

[EDIT]

 

Everyone needs to watch the Ombudsman Service as much as they watch the banks.I was doing a case which had already gone to the FOS. I said we needed a Subject Access Request. The first tack was, when reminded of our request was "they never received the £10 payment" Another payment was sent then they wrang up to see why we wanted it and could they discuss it over the phone and what were we looking for.We said we wanted the information but was not prepared to discuss it over the phone. The then said they were going to make a decision within 2 weeks. We said we would reserve the right to reject any decision if we had not received the SAR and had time to study it and reply and would deem the decision to be tainted.The SAR came and within it was BOTH SAR payments, one of which they said they had not got.There were two serious flaws in the decision where they found in favor of the bank. One was they did not look at the calandar and the other was a matter of representation but this was due to improper assessment/ not reading the evidence.The other flaws being they did not consider laws or MCOB FSA regulations but admit they make a decision on probabilities. All I can say is "WATCH 'EM!"

Edited by ims21
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Hi,

 

FOS is a toothless body and from the description in their site and seeing their complaint form, I understood that there is little hope from this body. They seem to be biased in favour of banks. They also seem to rely heavily on the terms of the banks which obviously are highly one sided in favour of bank. Me and my wife are aghast by seeing the systematic malaise. Hence she has raised a petition to corner bankers. It is the last attempt. Please sign in the petition.

 

http://epetitions.direct.gov.uk/petitions/35580

Edited by myconsumerrights
corrected typo
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Have we helped you ...?         Please Donate button to the Consumer Action Group

 

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Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

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The Chief Ombudsman has found, in a recent case that the bank has done nothing wrong-nothing unusual there. I asked the Chief Ombudsman (Female) what evidence did she reply upon to reach her decision, what laws and regulations etc but no answer. I found two serious flaws in the decision, one surrounding a cooling off period but she failed to see that November 22 & 23 of 2008 was Saturday and Sunday where the bank and solicitor was closed. The funds for a mortgage was drawn down on Thursday Nov 20 before the mortgage offer was delivered, the mortgage was set for completion on Monday 24th and there was no business hours in which to refuse the offer. Ombudsmans was told of serious flaws but said case closed. I have now written to the Chairman of the FOS siting the Chief Ombudman as professionall negeligent.

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I got a seriously bad preliminary decision by an Ombudsman and before he made it final I made my submission to him and the Chief Ombudsman's office, asking them to review the preliminary decision because if it is made final it will affect me both financially and personally as it is for my home. They refused to interfere and the final decision was the same as the preliminary one. This will potentially cost me over £20,000 for the repairs which are covered under the policy and there is no mention of the time and expense of 4 years of going through the claim. The Ombudsman has ignored relevant information and actually changed the Adjudicator decision which was in my favour. The insurer accepted there is damage and defects but that there is no cover but he's now telling them there isn't any so there is nothing to cover !!!

 

Other than take it to a review which won't change anything, what else can I do? I was looking at a judicial review which can be very expensive.

 

I'll now have to take the insurer to court which will waste more time.

 

This is the second such decision by the FOS which has affected me greatly. The other one was them deciding arrears charges are fair without even asking the bank for a breakdown of the charge. The bank then tried to repossess my home and I've had to pay a lot towards the mortgage. With this one, the FOS sent me £100 for some 'failings' during the decisions.

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I totally agree! Like many of you who have posted, our complaint made to the fso was not upheld and the adjudicaters entire responce given was baced purely on that of the bank! Every responce given did not take into account any of the evidence we provided.

 

For example Santander sent us our end of year mortgage statement. The account showed arrears amounts that simply did not add up. We sent a sar to Santander after a court case we were not informed was taking place and within the sar were completely new revised mortgage statements showing the amounts paid being totally different to the originals Recieved!

 

Baffled by the statements we referred to payments made on our bank statements and found that the statement used in court was incorrect for an entire year!! An example was payment made 20th july 2009 £368 the bank statement and new statements in sar say 20th July 2009 amount paid £450 this is for every months transaction!! Santander set us up big time! But even laying the complaint out showing the two statements one after each other along with other evidence the fso simply over looked this and said the bank did everything they could bla di bla!!

 

We have requested our case be forwarded to an ombudsman however we have been advised that this could take two years!!! If the mcobs are their to protect the banks and consumers then why does the fos just ignore the consumer and only go by what the bank says? Why do we bother putting info together when it is evident that anything the consumer says is just dismissed and what ever bank info is given is scene as correct.

 

Yet following current reports relating to barclays being fined and stated as corrupt etc by a mp then with this knowledge why isn't something being done? What can we do ? Something needs to change because the entire system is wrong!

Edited by citizenB
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What can we do ? Something needs to change because the entire system is wrong!

 

Your local MP will have a surgery - Book an appointment and take along the data - when enough MP's start raising complaints something will get done

HTH (Hope This Helps) RDM2006

 

THE FORCE (OF CAG) IS WITH YOU

;)

 

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All advice and opinions given by people on this site are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, please seek qualified professional legal Help.

 

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Why not show your gratitude And

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I have spent months collecting information about the bad practices of Santander sending them your harassment letters and info taken from your site on bcob where Santander broke all the rules. I submitted may10 pages of harassment and the selling of our account whilst in dispute, The 1st. :mad2:adjudicator said the bank hadn't done anything wrong, I said I didn't agree he said he'd put it to the ombudsman all of this happened within 24 weeks!! The Ombudsman, a woman, didn't uphold our complaint against Santander either. I spent hours visiting the branch writing letters and ringing them, they NEVER offered a positive solution to the problem not once! They just bullied us for a outstanding loan of £4000 which due to the economic environment we couldn't pay. But has all the hard work I done not count for something. Another thing I noticed was the so-called Ombudsman use exactly the same words as the adjudicator, on the same subjects but ignoring the fact Santander had broken the BCOB(is that right?) they also moved the file several times so when we wanted to pay something they didn't know where it was!!! I'M ticked off please give advice........many thanks If the spelling is incorrect please forgive!:jaw:

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  • 2 weeks later...

After 9 months of wrangling the FOS has ruled in my favour against the treatment from GE Money. I have endured endless phone calls harrassing us and despite the Resolutions Department setting up payment plans the Collections Department over ruled them and refused to doanything to help us. We have been tohelland back with Ge Money it has gone since 2009. They have treated us with disrespect spoken to me as if I was a piece of dirt. I have enough stress health wise without GE Money behaving the way they have.

 

The FOS have agred with everything that has been said by us and have ruled that GE Money failed to help us. We were delighted at her response. The came the insult. She ruled that GE Money must pay us £300. To us it is an insult it works out that we receive £12.50 for every month. Every month we were receining 5 -6 calls per day, Despite telling GeMoney I was on bed rest they continued to phone our home and our mobiles. We endured threats fromone of GE Moneys collection Managers who said to me that paying the mortgage was more important than feeding our kids. I feel that £300 is nothing compared to how we have been treated. Will £300 make a difference to them? will they thinkoh my god we have to pay mrs .... compensatio? no Idon't think they will even notice.

 

I am pleased the FOS ruled in our favor but £300 is a pittance.

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£300.00 seems to be a pretty standard compensation allowance made by the FOS. What is good is that they HAVE made this award and if you want to take action against GE Money yourselves, then the Judgment in your favour is a plus that you could use as evidence.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Iaineynic

 

The £300.00 is a derisory sum but...... the FOS rarely award much more in cases of distress.

 

I would urge caution in accepting the offer if you intend to seek remedy in court at a future date, Andrews v SBJ may cause you problems.

 

Phil

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eve Citizen i have just received a e mail via consumer forum from Rhys Williams, i don't see it here so i am guessing you have deleted it or otherwise how did i come to receive this e mail ?

http://www.consumeractiongroup.co.uk/forum/welcome-consumer-forums/107001-how-do-i-dummies.html

 

 

 

 

Advice & opinions given by patrickq1 are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional

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it was an advert patrick so i dont blame them for removing it

HTH (Hope This Helps) RDM2006

 

THE FORCE (OF CAG) IS WITH YOU

;)

 

We've Helped You To Claim - Now Help Us Remain

A live Site - Make a Donation

 

All advice and opinions given by people on this site are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, please seek qualified professional legal Help.

 

However, if you have found any advice you have been given helpful.

Why not show your gratitude And

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