How long does FOS take

maxdp

mhaynes22 wrote: »

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!

Tee Hee and so say all of us. Hopefully it should not be too long now.

mhaynes22

Please see copy of Email sent to my MP

21st August 2009

Dear Mrs Moon

I would like to arrange to meet with you to discuss a problem I am having with the Bank of Scotland and Financial Ombudsman Service.

When arranging a loan with Capital Bank, part of the Bank of Scotland I purchased a Payment Protection Insurance (PPI) Policy. In November 2007, the company I was a director of went into administration and I was made redundant. I contacted the Bank, as the Loan had 4 months repayments left outstanding and was told the PPI I purchased did not cover me as I was a Director of the company.

I tried to cancel the policy in December 2007, and was told no refund was due to me due to the “Rule of 78”.

I tried to correspond further with Bank of Scotland, they totally ignored me, so in May 2008 I complained to the Financial Ombudsman Service.

Since May 2008, I have been waiting for an adjudicator to look into my complaint.

The Loan has since been paid in full, together with Interest, Insurance and interest on the insurance.

I hope you will be able to help me, and I look forward to your response.

Yours sincerely

Matthew

Matthew Haynes

di3004

mhaynes22 wrote: »

Please see copy of Email sent to my MP

21st August 2009

Dear Mrs Moon

I would like to arrange to meet with you to discuss a problem I am having with the Bank of Scotland and Financial Ombudsman Service.

When arranging a loan with Capital Bank, part of the Bank of Scotland I purchased a Payment Protection Insurance (PPI) Policy. In November 2007, the company I was a director of went into administration and I was made redundant. I contacted the Bank, as the Loan had 4 months repayments left outstanding and was told the PPI I purchased did not cover me as I was a Director of the company.

I tried to cancel the policy in December 2007, and was told no refund was due to me due to the “Rule of 78”.

I tried to correspond further with Bank of Scotland, they totally ignored me, so in May 2008 I complained to the Financial Ombudsman Service.

Since May 2008, I have been waiting for an adjudicator to look into my complaint.

The Loan has since been paid in full, together with Interest, Insurance and interest on the insurance.

I hope you will be able to help me, and I look forward to your response.

Yours sincerely

Matthew

Matthew Haynes

Good luck with this.

I may be wrong but I thought they stopped using the Rule of 78 Calcs in 2005?

You do have a good case here, all the best and look forward to hearing the outcome.;)

barloo69

mhaynes22 wrote: »

Please see copy of Email sent to my MP

21st August 2009

Dear Mrs Moon

I would like to arrange to meet with you to discuss a problem I am having with the Bank of Scotland and Financial Ombudsman Service.

When arranging a loan with Capital Bank, part of the Bank of Scotland I purchased a Payment Protection Insurance (PPI) Policy. In November 2007, the company I was a director of went into administration and I was made redundant. I contacted the Bank, as the Loan had 4 months repayments left outstanding and was told the PPI I purchased did not cover me as I was a Director of the company.

I tried to cancel the policy in December 2007, and was told no refund was due to me due to the “Rule of 78”.

I tried to correspond further with Bank of Scotland, they totally ignored me, so in May 2008 I complained to the Financial Ombudsman Service.

Since May 2008, I have been waiting for an adjudicator to look into my complaint.

The Loan has since been paid in full, together with Interest, Insurance and interest on the insurance.

I hope you will be able to help me, and I look forward to your response.

Yours sincerely

Matthew

Matthew Haynes

Brilliant. Totally agree, if more of our MP's were to start receiving similar emails / letters of complaint about the industry and the fact that the Financial Institutions are what it seems deliberately ignoring the regulating body FOS and making them enter into further unnecessary investigation and take more of their time then maybe just maybe some of us can start being having our claims looked at.

di3004

barloo69 wrote: »

Brilliant. Totally agree, if more of our MP's were to start receiving similar emails / letters of complaint about the industry and the fact that the Financial Institutions are what it seems deliberately ignoring the regulating body FOS and making them enter into further unnecessary investigation and take more of their time then maybe just maybe some of us can start being having our claims looked at.

Yes I totally agree as well.;)

It is a great letter, I know where to come then If I want a letter sorted out lol.:T

mhaynes22

Thanks for the comments... I just thought, MP's should get to see what we have to put up with. These banks think they can get away with anything!

Your comments on the "Rule of 78" are interesting... I did a little bit of research, because I had never heard of it before... Apparently it is banned in some states of the USA

mhaynes22

Received a reply from MP. She has written to the FOS on my behalf. This is the reply I am sending her.

31st August 2009
Dear Mrs Moon
Re your reference WP/02090524 - PPI Problem with Capital Bank (Bank of Scotland)
Thank you for your reply dated 28th August 2009. It is encouraging you confirm I am following the correct procedure, in complaining to the Financial Ombudsman Service and I am extremely grateful to you for writing to them on my behalf.
I do also appreciate how busy the FOS is, as based on my own research, there are a lot of people finding themselves in a similar situation to me. I hope you don’t think I am complaining about the FOS, as although I have found the process to be slow, they were extremely helpful when I initially contacted them about my complaint.
However, I think it is unacceptable the way in which the bank seems to be taking advantage of the process. When I contacted the FOS on the 16th March 2009, to enquire into the progress of my claim, I was astounded to find the Bank of Scotland hadn’t even replied to letters sent by the FOS. Surely there should be time restraints, if I had taken action against them via County Court they would have had 28 days to file a defence.
I am keeping a record of all correspondence I receive from the FOS, and would be grateful if you would forward any correspondence you receive from them about my case. I would like to keep you informed on the development of my complaint.
I trust this is acceptable.
Yours sincerely

marshallka

mhaynes22 wrote: »

Received a reply from MP. She has written to the FOS on my behalf. This is the reply I am sending her.

31st August 2009
Dear Mrs Moon
Re your reference WP/02090524 - PPI Problem with Capital Bank (Bank of Scotland)
Thank you for your reply dated 28th August 2009. It is encouraging you confirm I am following the correct procedure, in complaining to the Financial Ombudsman Service and I am extremely grateful to you for writing to them on my behalf.
I do also appreciate how busy the FOS is, as based on my own research, there are a lot of people finding themselves in a similar situation to me. I hope you don’t think I am complaining about the FOS, as although I have found the process to be slow, they were extremely helpful when I initially contacted them about my complaint.
However, I think it is unacceptable the way in which the bank seems to be taking advantage of the process. When I contacted the FOS on the 16th March 2009, to enquire into the progress of my claim, I was astounded to find the Bank of Scotland hadn’t even replied to letters sent by the FOS. Surely there should be time restraints, if I had taken action against them via County Court they would have had 28 days to file a defence.
I am keeping a record of all correspondence I receive from the FOS, and would be grateful if you would forward any correspondence you receive from them about my case. I would like to keep you informed on the development of my complaint.
I trust this is acceptable.
Yours sincerely

Let us know how you go on. Well done for doing something positive about this.

di3004

mhaynes22 wrote: »

Received a reply from MP. She has written to the FOS on my behalf. This is the reply I am sending her.

31st August 2009
Dear Mrs Moon
Re your reference WP/02090524 - PPI Problem with Capital Bank (Bank of Scotland)
Thank you for your reply dated 28th August 2009. It is encouraging you confirm I am following the correct procedure, in complaining to the Financial Ombudsman Service and I am extremely grateful to you for writing to them on my behalf.
I do also appreciate how busy the FOS is, as based on my own research, there are a lot of people finding themselves in a similar situation to me. I hope you don’t think I am complaining about the FOS, as although I have found the process to be slow, they were extremely helpful when I initially contacted them about my complaint.
However, I think it is unacceptable the way in which the bank seems to be taking advantage of the process. When I contacted the FOS on the 16th March 2009, to enquire into the progress of my claim, I was astounded to find the Bank of Scotland hadn’t even replied to letters sent by the FOS. Surely there should be time restraints, if I had taken action against them via County Court they would have had 28 days to file a defence.
I am keeping a record of all correspondence I receive from the FOS, and would be grateful if you would forward any correspondence you receive from them about my case. I would like to keep you informed on the development of my complaint.
I trust this is acceptable.
Yours sincerely

Brilliant good one and we look forward to hearing the outcome.
Good luck.

mhaynes22

I've just contacted the FOS... Seems they are waiting for information from Bank of Scotland before their adjudicator looks into my case... I am blown gaskets here! Why does the bank have as long as they like to provide all the information needed... This can't be right, If it had been County court, I would have had judgement by default.

I need to be scraped off the ceiling!