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PPI claims flood in at twice the rate predicted as claimants told they must wait a year for their cash

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The claims bonanza surrounding payment protection insurance (PPI) shows no sign of abating with the financial ombudsman confirming it expects to rule on twice the number of complaints as predicted this year. The Financial Ombudsman Service (FOS) is now telling claimants that they face waiting a year to get their money back thanks to the flood of claims. The ombudsman normally has a target of settling claims within three to six months. A spokesman said it expects claims for 2012-13 to be twice the 165,000 predicted at the start of the year.

 

Read more: http://www.dailymail.co.uk/money/cardsloans/article-2239173/PPI-claims-flood-twice-rate-predicted-claimants-told-wait-year-cash.html#ixzz2DXaojWJE


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Read this and I feel there is a good case if it takes more than 6 months from start of claim to payment the FOS should impose a substantial fine on the Bank concerned and added to the payment for the mis-sold PPI,the banks cannot go on getting away with their inefficient dealings with customers

 

FS

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