Best course of action: Ombudsman or Court

[bwdski]

I'm wondering what the best course of action is here.

Going the Financial Ombudsman way, which is free but can take a while.

Or, going to court which could cost me at least £220...

 

A couple of points on this...

 

All claims submitted to the Ombudsman have been settled, with the banks paying the full amount plus 8% interest as a "goodwill gesture".

 

The Court method has seen a few cases lost in recent weeks, and is a very complex method for the uninitated.

 

Are we being pushed in to going to court when the Ombudsman's route is equally effective (if not more so...) by the media?

[Tazzman]

I want to know the answer to this too.

Abbey have not responded and am thinking about the obmudsman too.

[traceybird]

I'm going thru the FO at the mo. They wrote to me on 20th June stating they will start investigating. Rang them to today, I should receive a letter today, they have wrote to the bank inviting them to make a settlement or they will investigate further. They have given HSBC 6 wk timescale to reply. Hope this helps

Trace v HSBC £10k plus interest

[bwdski]

Thanks for posting

[tifo]

for current accounts, the Ombudsman will get you charges + 8% interest which they consider a fair offer.

 

for credit cards, the Ombudsman will get you charges + 8% interest, but they may consider the £12 reported in last years as a 'fair charge' so be warned if the bank offers charges - £12 to you.

 

i have had very good experience of the Ombudsman service on current accounts, though they will not consider anything more than stat interest and look to the bank to make an offer rather than setting an amount to be paid.

 

i have tried to get an explanation out of Adjudicators on their thoughts on credit card claims (i haven't settled any through them yet) but cannot seem to get a reply.

[bwdski]

for current accounts, the Ombudsman will get you charges + 8% interest which they consider a fair offer.

 

for credit cards, the Ombudsman will get you charges + 8% interest, but they may consider the £12 reported in last years as a 'fair charge' so be warned if the bank offers charges - £12 to you.

 

i have had very good experience of the Ombudsman service on current accounts, though they will not consider anything more than stat interest and look to the bank to make an offer rather than setting an amount to be paid.

 

i have tried to get an explanation out of Adjudicators on their thoughts on credit card claims (i haven't settled any through them yet) but cannot seem to get a reply.

 

nice reply thanks

[bwdski]

So many views, so little replies....

 

C'mon guys... do you not have opinions?

[Red Rebel]

Just received a letter from the bank apologising for the delay in dealing with my complaint with a leaflet about FOS. So i take it the banks prefer the FOS route........i personally filed at court and received an offer 1 week after service.....so its court for me:D

[traceybird]

Had a letter off the FOS today, and I quote

 

"Iam

[traceybird]

Sorry - I'll carry on................

 

"I am writing to update you as to progress regarding your complaint.

 

The bank may have told you that -in its view- the charges it has made to your account were levied fairly in accordance to its tariff. It does not appear to have made and offer that fully meets what you have asked for(Zilch actually!!). I have therefore written to the bank to invite it to:

 

Make an offer which meets your claim in full: or

provide me with the information I believe I shall need to reach a conclusionon the merits of your claim.

 

As you may know, in almost all the charges complaints we have considered, banks have made offers to meet the claim, and it has not been necessary for us to issue any decisions yet. I will let you know as soon as the bank tells me whether it is prepared to settle your claim: I will explain the next steps when i have heard from the bank. If I have not heard within six weeks, I will write to tell you."

 

Hope this helps!

[tifo]

"I am writing to update you as to progress regarding your complaint.

 

standard reply from FOS when the adjudicator is ready to progress your case.

 

the bank will now make an offer within 14 days as they have that time to reply to the adjudicator. This offer is usually all the charges.

 

when you refuse this, the adjudicator will write to the bank again and they will offer the 8% interest as well.

 

the adjudicator will consider this to be fair and reasonable and you can choose to accept or decline.

 

the banks won't give their breakdown to a adjudicator same as they won't to a court, so they pay up.

 

this is what the adjudicator asks them :

1. How the charges were calculated.

2. How these figures constitute a reasonable pre-estimate of the additional costs to the bank arising from the default.

3. If you can readily identify additional administrative costs incurred, how the charges arise and why you consider it fair to apply them.

4. Internal records associated with setting up or increasing the charges that were applied to my account during the relevant period, or with deciding the circumstances in which they would be applied.

5. Any credit risk costs that the bank claims are included within the charges applied to my account.

[traceybird]

Red Rebel - I thought the same as you at first that the Banks would rather you go FOS route, but not the case, they have to give out those leaflets by law I think. It all depends on what your personnal circumstances are & what you personally want to do, either route will hopefully get your money back!

I decided to wait the 8 wks, as HSBC seemed to be typically paying out - Typical!! With me it didn't! So I decided the FOS route, but there again go this way you may not have your interest paid, there again, it may make an offer to you before court which is less.

I'll tell you whether i think it's better or not if I get me dosh HA HA

[traceybird]

Thanks for that Tifo!

I'll wait and see then, my claim is for £9922 + interest!!

[tifo]

I'll wait and see then, my claim is for £9922 + interest!!

 

my my, somebody's gonna be partying soon!

[traceybird]

Believe me - I'm gonna party like it's 1999!!

[bwdski]

Some great replies there...

 

Is it better ro use the Ombudsman then?

OK, it might take up to 2 months but, it's a cheaper and lot less stressful route than court.

 

The more I think about this, the more I believe that the Ombudsman should be our next step after the LBA, then the court.

[tifo]

The more I think about this, the more I believe that the Ombudsman should be our next step after the LBA, then the court.

 

You have to allow the bank 8 weeks before going to the Ombudsman, or after you get a Final Response letter stating this is their last offer, which they normally send you after a few weeks.

[finlander]

does anyone have a link to the ombudsman site so I can download the forms?

[tifo]

website is here Financial Ombudsman Service

 

forms are here our complaints procedure and how to complain

[barbs26]

Just google- FOS that will will take you to what you want.

 

Cheers- Barbs

[dave]

Believe me - I'm gonna party like it's 1999!!

 

...but that's nearly 7 grand less ;-)

[invictus]

You have to allow the bank 8 weeks before going to the Ombudsman, or after you get a Final Response letter stating this is their last offer, which they normally send you after a few weeks.

 

To be pedantic, the bank has 8 weeks from when you complain to resolve your complaint to your satisfaction, or issue a Final Response (sometimes called a deadlock letter) saying they're sorry they can do what you want and you can take your complaint to the ombudsman. If they don't do this within 8 weeks you can take to FOS anyway.

[bwdski]

To be pedantic, the bank has 8 weeks from when you complain to resolve your complaint to your satisfaction, or issue a Final Response (sometimes called a deadlock letter) saying they're sorry they can do what you want and you can take your complaint to the ombudsman. If they don't do this within 8 weeks you can take to FOS anyway.

 

8 weeks isn't that long is it.

You've already waited 4 weeks for responses from the banks...

you might have taken a couple of weeks to respond to them....

[barbs26]

Have just put my claim into the the FOS on Monday,so im just waiting to see what happens,as you say it doesn't cost anything and you can always go down the courts after if you are not happy with the out come.

 

Barbs.

[bwdski]

Have just put my claim into the the FOS on Monday,so im just waiting to see what happens,as you say it doesn't cost anything and you can always go down the courts after if you are not happy with the out come.

 

Barbs.

 

yes, indeed.

 

Maybe we should be promoting this a bit more... ???