Court or Financial Ombudsman?

[Reavna]

Well, Lloyds seem to be ignoring my Letter Before Action, so I've been looking into my next steps, and I've come across people recommending the Financial Ombudsman Services.

 

The only down point on it seems to be that it takes quite a lot longer that Court. I really don't want to go down the Court route if I can help it, so I was wondering if this was a viable alternative.

 

Any experiences or advice please?

 

Thanks!

[Champnos]

I know of a few who have gone to the FOS and have received refunds. So yes its viable, i beleive they are getting slightly quicker as well!

[madmaxctr]

I'm in a similar position.

 

If you go through the FOS you'll most likely get a full refund BUT no interest.

 

Going through the courts will probably be quicker and you get interest but there is the chance of the claim goign agsinst you/getting struck out and you need ££££ for the issue fee and allocation questionnaire.

 

You could always start a complaint with the FOS and if it takes too long issue proceedings.

[Reavna]

Thank you both.

 

madmaxctr, that's my reasoning too.

 

I think I may go to the FOS and see what happens.

 

I'm not overly bothered about the interest. The money is long gone so anything I get back is a bonus to be honest

[madmaxctr]

Ditto.

I've sent off my stuff to the FOS about a week ago. Had a letter straight away acknowledging it stating it will be passed to a case handler to look into.

End of the day we've got nothing to lose. We could always litigate at a later date. BUT you can't complain to the FOS after litigation (if it failed).

Interest isn't a major issue I just want to get the rest of the money back. Claim for £1919 net of interest, had a £750 gesture of good will so still chasing £1,169.00.

[madmaxctr]

Here you go.

 

our complaints procedure and how to complain

 

You can fill in the form on a pdf or word version then print it off and hey presto.

[Reavna]

Brilliant!

 

Thank you

[tifo]

If you go through the FOS you'll most likely get a full refund BUT no interest.

 

You could always start a complaint with the FOS and if it takes too long issue proceedings.

 

The Ombudsman will get you charges + 8% interest, though they don't specify this but the bank will pay interest if you reject their 'only charges' offer.

 

If you go to court you cannot then use the Ombudsman, but can go to court after the Ombudsman.