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MSE News: PPI leads huge rise in Ombudsman complaints
Former_MSE_Guy
Posts: 1,650 Forumite
This is the discussion thread for the following MSE News Story:
"Complaints about missold debt insurance have rocketed over the past year, as the total number of official financial gripes also soared ..."
"Complaints about missold debt insurance have rocketed over the past year, as the total number of official financial gripes also soared ..."
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Comments
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Wow, all of Ocean Finance complaints upheld!!
In total, the Ombudsman resolved a record 166,321 disputes during the past financial year – a 46% annual increase – resulting in compensation for consumers in 50% of cases, down from 57% in the first half of 2009 and 53% in the second half.
The Ombudsman attributes the fall in uphold rates to better complaints handling by a small number of financial firms, meaning those cases never make it to the arbitrator.
Yet with some firms, such as loan company Ocean Finance and insurance provider Eisis, the Ombudsman upholds all insurance complaints. It upholds 99% of insurance-related complaints against MBNA and 96% against Barclays.0 -
Nice to see IFA complaints fall again and regulated products in general fall back. Normally they increase after a market crash but not this time.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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