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MSE News: FSA to re-open 185,000 rejected debt insurance claims
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Former_MSE_Guy
Posts: 1,650 Forumite



Comments
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Thanks for this MSE Guy.
So I assume this would mean many can re-submit their complaints then, that were originally rejected perhaps?The one and only "Dizzy Di"0 -
No need to resubmit. The providers will have to go back on rejected complaints and review them again. Similar has occured in the past in other areas when firms were found to "over reject" complaints. Out of the blue people would be told a review of their complaint has seen it upheld and redress payable.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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Would you expect these to be handed back from the FOS or just from among their (the companies)complaints department?DS1 12/10/04
DS2 13/07/06
DD1 06/12/070 -
What alarms me is how hard many firms are STILL hard-selling payment insurance and allied services. My own credit card company spent 20 minutes the other day trying to put the frighteners on me about the dire consequences of not subscribing to a whole range of insurance services - from anti-identity theft to loss protection. Not the same as payment insurance I know - but all part of the same drive to sell us financial services we either don't need or ought not to need in a properly regulated market.0
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No need to resubmit. The providers will have to go back on rejected complaints and review them again. Similar has occured in the past in other areas when firms were found to "over reject" complaints. Out of the blue people would be told a review of their complaint has seen it upheld and redress payable.
Thanks for confirming this Dunstonh.;)
I take it though, this would not include claims prior to Jan 2005 that were not governed as such then?The one and only "Dizzy Di"0 -
More details on this from the FSA press release: http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/129.shtml0
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No need to resubmit. The providers will have to go back on rejected complaints and review them again. Similar has occured in the past in other areas when firms were found to "over reject" complaints. Out of the blue people would be told a review of their complaint has seen it upheld and redress payable.
It mentions nothing of wider jurisdictions for FOS.0 -
Would you expect these to be handed back from the FOS or just from among their (the companies)complaints department?0
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I bet there will be lots of temporary christmas jobs in banks etc for complaints handling now...:cool:0
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marshallka wrote: »I bet there will be lots of temporary christmas jobs in banks etc for complaints handling now...:cool:
lol, yeah I expect so MarshallkaThe one and only "Dizzy Di"0
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