6000 Bogus PPI Claims Letter Received By Ombudsman

Ombudsman is government body available to solve financial disputes between consumers and banks. Most of the financial complaints received by the organization are related to payment protection insurance claims.

London, United Kingdom (prHWY.com) June 25, 2012 - Ombudsman is government body available to solve financial disputes between consumers and banks. Most of the financial complaints received by the organization are related to payment protection insurance claims. Recent studies and financial figures illustrates that FOS has already received more than 2 million complain letters related to PPI and everyday it is receiving above 5000 complains. FOS has also get success to solve these financial disputes in favor of consumers. But studies also say that Ombudsman has received above 6000 bogus PPI complaints from consumers.

According to recent financial figure it can be said that there is increase of 28% in overall financial complaints from consumers in comparison of previous year. Some of these complaints are not reliable. However, number of unjustified complaints is just 4% of total complaints. It has been also noticed that PPI claims management bodies have accused of a big part of compensation amount that were provided to consumers by banks as a charge of providing PPI claim process service. However, Claims Standard Council who represents claims management firms says that there are several victims in UK who are not aware of their monetary loss due to unnecessary PPI premium payments and claims management firms help such people to know about their losses.

With the efforts of court, FOS and FAS banks are now obliged to pay off compensation amount to the victims. Numbers of financial complaints are continuing on increase in FOS. Ombudsman needs extra employees to handle with these complaints. Consumers are complaining that FOS is making delays to solve disputes. In reply of these this financial body has told that there are delays because some complaints are bogus and services also need to work on identify such claim letters. However, it has been estimated that FOS will soon get success to solve this disputes with full justification.

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Tag Words: mis sold ppi, ppi claims uk, ppi claims

Categories: Finance

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