Using the Financial Ombudsman

iwon · 12 January 2007 at 6:00PM

See the updated Financial Ombudsman: Fighting bank problems guide

After 2 months of waiting i have just had a reply from the financial ombudsman stating that the bank would rather settle than be subjected to a formal investigation. i dont know how much i will recieve yet as the bank is still calculating the amount.
So here's to all of the people who didnt have any faith in the financial ombudsman, they were really helpfull and it was all pretty simple.

So Ha Ha Ha, another one for the little man!!!!!!!!!!!:T :beer: :j

alared · 12 January 2007 at 6:55PM

There was a bit about using the financial ombudsman on BBC working lunch.
By doing it this way it costs the banks £350 each time,no matter what the outcome.

carrielouise80 · 16 January 2007 at 11:28PM

hi all,

i was wondering whether getting the ombudsman involved in my claims would help or hinder my claims?

i am attempting to reclaim charges from numerous institutions, all of which are showing resistance and "making me take it all the way to the courts" with every claim, however i have observed a trend with all of the financial institutions so far in that they all seem keen for me to contact the ombudsman. i have omitted doing this so and i am just going straight to court, but i am running out of money for the initial court admin costs, so i was wondering if i could involve the ombudsman for free! and apply extra pressure to boot...

Edinburghlass_2 · 16 January 2007 at 11:31PM

http://www.financial-ombudsman.org.uk/faq/answers/complaints_a2.html

BBC Working Lunch report...

http://news.bbc.co.uk/1/hi/programmes/working_lunch/6253477.stm

Rex_Mundi · 16 January 2007 at 11:55PM

The only thing about using the Financial Ombudsman is that you may not be offered all of your charges by the bank, and the FO cannot order them to pay in full (a court can). Someone posted recently they had a complaint running since early last year using the FO, and they had only recently been offered about half their charges by the bank. The claim still hadn't been settled.

achtunglady · 17 January 2007 at 1:20AM

Hi, do you think its worth my husband going to the ombudsman, he sent his first letter at the end of sept 2006, this was ignored, sent second letter,reply to 1st letter received, gave them extra time to refund charges, they ignored, then we proceeded with court claim, they did not enter a defence and we got a judgement by default issued on the 19th Dec 2006. On the 21st Dec we get a letter offering us the amount we asked for before court action and 8% interest, saying it would be in the account in 10 working days if we sign and return the copy of the letter. Sent a letter with a copy of the judgement on the 5th Jan 2007,(saying we wanted the money paid in 7 working days)it was received on the 8th January, as yet nothing. Thinking of getting a warrant of execution from the court (another £55 to pay),what do you think should be done???

Rex_Mundi · 17 January 2007 at 1:30AM

It would be pointless you going to the ombudsman now. You've already got a judgement in your favour from the court. If you go to the ombudsman, you will start your claim from the beginnning again, you will not be able to claim the interest, and will will lose the court fee (you wont be able to claim this). Better to use the court now to force the bank to pay (I'm surprised they haven't done this already).

Edinburghlass_2 · 17 January 2007 at 1:43AM

Don't forget what Martin says in his article...

Sadly, when the banks don’t defend a claim, they don’t always pay up automatically even though they’ve lost. Whilst mention of bailiffs isn’t normally the most cheerful subject on this site, let’s happily make an exception. If the bank doesn’t pay, you’ve a right to send the bailiffs in to claim the money; a number of people have exercised this option, and again it’s easy to do via the Moneyclaim site.
If you are doing that, I’d love to send a photographer to record such a moment; please e-mail ******** and let us know (please do not email this address with general queries though, it's only for photos).

achtunglady · 17 January 2007 at 11:40AM

Edinburghlass theres nothing more pleasing than sending in the bailiffs but do they let you know when they are going to attend? Just curious as then we could inform Martin of where and when the bailiffs go in. But he hasn't said that the bank can apply to the court to have the judgement set aside saying they did not receive the claim and just delay the whole thing, and make us pay out more money. Why are the banks asking for allocations questionaire when people have sent in detailed lists of dates and amounts of charges???

Sting_2 · 1 February 2007 at 11:04AM

Just thought I would let everyone know that I have successfully helped someone claim back all their bank fees, but rather than go to court we used the financial ombusman.

The bank was Lloyds TSB and we got the standard replies (they ARE lawful etc). When my friend realised she would have to pay £120 to go through the small claims court we decided to go to the ombusman since it was free.

Filled in the form, sent it off. Took about a month but Lloyds have finally backed down and offered a full refund of all the bank charges - no interest though.

So if you are concerned about forking out for court fees, or are concerned about going through the court system, this is an alternative.

dunstonh · 1 February 2007 at 11:07AM

The probably backed down as every referral to the FOS costs around £350 to the provider. (never been there so I dont know the exact amout. Could be higher now).

You cant go straight to the FOS though.

Using the Financial Ombudsman

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