financial ombudsman

[loosepiece]

Hi,

 

2 weeks ago i sent my bank stuff off to the financial ombudsman. I haven't had a peep out of them. I don't even know if it's been recieved. How long should it be before i hear anything at all? even a 'thanks we got your stuff' sort of thing?

[debtfreemummy]

Hi

 

I sent my info re PPI to the financial ombudsman recently, & I think it took about 2-3 weeks before they sent me a short letter confirming they'd got it & were looking into it & gave me a reference number to quote if I ever needed to call.

 

So hopefully it shouldn't be too long before you hear. If you don't hear by next week maybe give them a call & find out what's going on?

 

Good luck

 

Sharon x

[loosepiece]

thank you sharon, that's put my mind at rest.

[Will Scarlet]

loosepiece - bear in mind that the FOS recieve 1000 bank charge complaints per day (on top of all of the other complaints they get). Their internal mail can sometimes take a few days to arrive on the right desk. Are you starting to get the picture...?

After about 2 weeks you should get an acknowledgement for them stating that someone will write to you in more detail in a few weeks.

I understand from the FOS that most cases are currently taking 8-10 weeks to get settled at "mediation" (prior to any official ruling being made).

Hang in there.

[flowerofsarum]

Hi,

 

2 weeks ago i sent my bank stuff off to the financial ombudsman. I haven't had a peep out of them. I don't even know if it's been recieved. How long should it be before i hear anything at all? even a 'thanks we got your stuff' sort of thing?

Yes, the previous replies are correct, I have two cases with the ombudsman at the mo. They will reply in about 2-3 weeks to say they have received your info, you will be put into a "received pool", after another few weeks you will be transferred to the "allocation pool" and again after a few weeks you will be contacted by a case worker who will then deal with your case and hopefully make a decision.

 

Bear in mind, the decision by the case worker is not binding on the bank, you would have to continue your case with the FO to get an ombudsman's decision. All takes time, totalling approx 3-4 months, but the way the courts are filling up, it may take that long to get to court!

[muggyno1]

Yes, the previous replies are correct, I have two cases with the ombudsman at the mo. They will reply in about 2-3 weeks to say they have received your info, you will be put into a "received pool", after another few weeks you will be transferred to the "allocation pool" and again after a few weeks you will be contacted by a case worker who will then deal with your case and hopefully make a decision.

 

Bear in mind, the decision by the case worker is not binding on the bank, you would have to continue your case with the FO to get an ombudsman's decision. All takes time, totalling approx 3-4 months, but the way the courts are filling up, it may take that long to get to court!

 

I am currently going through the FOS route and the timings described are about right, but I see the process as slightly different.

 

According to the FOS, once a case has been allocated to the case team, it is sent, in bulk with others, to the bank in question wit a 'request for information'. At this point you will probably receive a letter from the FOS describing the information they have requested from the bank and saying it could take some time for the bank to reply.

 

As this request for information requires the bank to disclose actual costs etc for all transactions (which is what they never want to do) the banks usually cave at this point and make an offer, in 99% of cases for the full amount. If it is not the full amount then you can reject the offer and the ombudsman will take a decision. If all else fails you can then go to court, but I think that this is very unusual in these cases.

 

Hope this helps.

 

Muggy

[flowerofsarum]

Excellent, thanks for the information, haven't been via the FO before, and hopefully they will make the right decision.

 

Will let you all know the outcome, one way or the other, so others can make an informed decision about using them.

[flowerofsarum]

I heard from the Financial Ombudsman adjudicator, she has contacted the bank to confirm she believes the ppi was mis-sold.

 

Watch this space!