How long does FOS take

mhaynes22

Hi, my name is Matthew, I have been subscribing to Martins emails for ages now and have had success with reclaiming Bank Charges... Big thank you.
November 2007 wasn't a good month for me, I was a director of a family company which went into receivership. In January 2003 I took out a £25000 loan from Capital Bank (HBOS) to repay over a 5 year period. PPI was included (I know now, it was too expensive!) but in December 2007 when it came to claiming on the insurance I was told because I was a Director I wouldn't be able to make a claim (I had 3 more payments on the loan to make, and on the loan agreement, it shows that I told them I was a director).
I read the template letters on this website, and wrote to Capital Bank, they replied to my first letter cancelling the policy, saying there would be no refund (it was a single premium policy and the Rule of 78 method was used to calculate the interest). So I continued with the other letters, and had no response to them. I contacted FOS and complained to them about Capital Bank in May 2008, and because they have been jammed with complaints about PPI they still haven't assigned an adjudicator to my case. My question is how long does it take? I thought it would take 6 - 9 months, I have been telephoning them, but not getting anywhere

maxdp

mhaynes22 wrote: »

Hi, my name is Matthew, I have been subscribing to Martins emails for ages now and have had success with reclaiming Bank Charges... Big thank you.
November 2007 wasn't a good month for me, I was a director of a family company which went into receivership. In January 2003 I took out a £25000 loan from Capital Bank (HBOS) to repay over a 5 year period. PPI was included (I know now, it was too expensive!) but in December 2007 when it came to claiming on the insurance I was told because I was a Director I wouldn't be able to make a claim (I had 3 more payments on the loan to make, and on the loan agreement, it shows that I told them I was a director).
I read the template letters on this website, and wrote to Capital Bank, they replied to my first letter cancelling the policy, saying there would be no refund (it was a single premium policy and the Rule of 78 method was used to calculate the interest). So I continued with the other letters, and had no response to them. I contacted FOS and complained to them about Capital Bank in May 2008, and because they have been jammed with complaints about PPI they still haven't assigned an adjudicator to my case. My question is how long does it take? I thought it would take 6 - 9 months, I have been telephoning them, but not getting anywhere

Hi There

You are looking at a waiting time of up to 18 months now I am afraid as they are very busy. Hope this gets settled soon for you.

di3004

mhaynes22 wrote: »

Hi, my name is Matthew, I have been subscribing to Martins emails for ages now and have had success with reclaiming Bank Charges... Big thank you.
Hi there and welcome.;) Well done on your success on reclaiming your charges back.:T:beer::T

November 2007 wasn't a good month for me, I was a director of a family company which went into receivership. In January 2003 I took out a £25000 loan from Capital Bank (HBOS) to repay over a 5 year period. PPI was included (I know now, it was too expensive!) but in December 2007 when it came to claiming on the insurance I was told because I was a Director I wouldn't be able to make a claim (I had 3 more payments on the loan to make, and on the loan agreement, it shows that I told them I was a director).
I read the template letters on this website, and wrote to Capital Bank, they replied to my first letter cancelling the policy, saying there would be no refund (it was a single premium policy and the Rule of 78 method was used to calculate the interest). So I continued with the other letters, and had no response to them. I contacted FOS and complained to them about Capital Bank in May 2008, and because they have been jammed with complaints about PPI they still haven't assigned an adjudicator to my case. My question is how long does it take? I thought it would take 6 - 9 months, I have been telephoning them, but not getting anywhere

Basically, due to the high volumes of these actual complaints, they do unfortunately take a while, however the standard straight forward amount of time is about 6 weeks, this is if it's assigned to an Adjudicator, and if there are no problems, such as the business your complaining about requests for extra time etc, but if your in financial hardship for any reason let the FOS know, and ask if they are able to "fast track" this for you, but I must confirm that even fast tracking is taking some time, now, because there are many in financial hardship, but you still have the right to request it if your in this situation.
I do hope they resolve this for you as soon as its moved on to an adjudicator, this can be one of the longest waiting times, but then again, some have been lucky to have their's dealt with in a matter of weeks, so time will vary.
You can of course contact them every few weeks on an update, there is no harm done by doing this.;)

Good luck and please keep us posted. Cheers,

Fingers crossed for you
Di

mhaynes22

Thank you for replying so quickly... Everything is crossed!

di3004

mhaynes22 wrote: »

Thank you for replying so quickly... Everything is crossed!

Your welcome and please post up for further help if you need this.;)

marshallka

mhaynes22 wrote: »

Hi, my name is Matthew, I have been subscribing to Martins emails for ages now and have had success with reclaiming Bank Charges... Big thank you.
November 2007 wasn't a good month for me, I was a director of a family company which went into receivership. In January 2003 I took out a £25000 loan from Capital Bank (HBOS) to repay over a 5 year period. PPI was included (I know now, it was too expensive!) but in December 2007 when it came to claiming on the insurance I was told because I was a Director I wouldn't be able to make a claim (I had 3 more payments on the loan to make, and on the loan agreement, it shows that I told them I was a director).
I read the template letters on this website, and wrote to Capital Bank, they replied to my first letter cancelling the policy, saying there would be no refund (it was a single premium policy and the Rule of 78 method was used to calculate the interest). So I continued with the other letters, and had no response to them. I contacted FOS and complained to them about Capital Bank in May 2008, and because they have been jammed with complaints about PPI they still haven't assigned an adjudicator to my case. My question is how long does it take? I thought it would take 6 - 9 months, I have been telephoning them, but not getting anywhere

So its been 14 months so far and nothing yet. I would say 18 months maximum but seems to be getting longer than that now. This really needs something doing about it. Its the futher debts that people incur thats annoying. I am not saying its 100% that people win but most single premium complaints are being upheld. Its the firms that reject these complaints that are the ones that need heavy fines (and not just slaps on the wrists) as they are often only stalling things and not even looking into these complaints. Until more people complain about the length of time its taking then nothing will change and it will be 2 years next. Perhaps the FSA are the ones to complain to? Lets hope FOS can do redressing in batches soon as we are all complaining about the same things but each individual case has to go to an individual adjudicator.

mhaynes22

marshallka wrote: »

So its been 14 months so far and nothing yet. I would say 18 months maximum but seems to be getting longer than that now. This really needs something doing about it. Its the futher debts that people incur thats annoying. I am not saying its 100% that people win but most single premium complaints are being upheld. Its the firms that reject these complaints that are the ones that need heavy fines (and not just slaps on the wrists) as they are often only stalling things and not even looking into these complaints. Until more people complain about the length of time its taking then nothing will change and it will be 2 years next. Perhaps the FSA are the ones to complain to? Lets hope FOS can do redressing in batches soon as we are all complaining about the same things but each individual case has to go to an individual adjudicator.

What is really annoying is Capital Bank didn't reply to any of my letters other than cancelation letter, and according to person in FOS they haven't submitted their defence / information to them. Maybe they should have 30 days to submit their information, or claimant wins by default!

Anyway, now I know to expect 18 months i can relax

marshallka

mhaynes22 wrote: »

What is really annoying is Capital Bank didn't reply to any of my letters other than cancelation letter, and according to person in FOS they haven't submitted their defence / information to them. Maybe they should have 30 days to submit their information, or claimant wins by default!

Anyway, now I know to expect 18 months i can relax

I had a problem like this with mine and was told by one worker at the FOS that there really is not a time limit that the firms can take to produce their defence etc and I agree there should be. Its just another stalling method.

Yours has been there 14 months now so it should be soon surely. Have you called them lately to ask? You are certainly not being impatient in my eyes.

mhaynes22

marshallka wrote: »

I had a problem like this with mine and was told by one worker at the FOS that there really is not a time limit that the firms can take to produce their defence etc and I agree there should be. Its just another stalling method.

Yours has been there 14 months now so it should be soon surely. Have you called them lately to ask? You are certainly not being impatient in my eyes.

I telephoned them yesterday... She wasn't able to tell me anything...

Capital Bank better not ask for more time when an adjudicator is assigned... I'll go mental!

marshallka

mhaynes22 wrote: »

I telephoned them yesterday... She wasn't able to tell me anything...

Capital Bank better not ask for more time when an adjudicator is assigned... I'll go mental!

Once the complaint is submitted its then that the file is requested by FOS as I understand and was told so really there should be no hold up at all once it gets to an adjudicator. I understand you going mental. Its so frustrating isn't it.

mhaynes22

marshallka wrote: »

Once the complaint is submitted its then that the file is requested by FOS as I understand and was told so really there should be no hold up at all once it gets to an adjudicator. I understand you going mental. Its so frustrating isn't it.

It is frustrating... Banks generally seem to taking the Micky! Together with the Bank Charges situation, Banks are seen for what they really are... bunch of greedy gits!