Has this happened to anyone?..

chrisbeck

i phoned hsbc up today to see how my complaint is getting on (mis-sold ppi) and the fella said because i got FOS involved its in there hands now!!

what does this mean sorry for being dumb :mad:

chris

Harley80

chrisbeck wrote: »

i phoned hsbc up today to see how my complaint is getting on (mis-sold ppi) and the fella said because i got FOS involved its in there hands now!!

what does this mean sorry for being dumb :mad:

chris

It means that at some point you must have referred your complaint to the Financial Ombusdsman. Do you remember doing this?

marshallka

If you sent the complaint to FOS then the FOS will be the ones that they now respond to. I assume you sent this on to FOS when you got your final response. It can be a long time at FOS waiting in the queue though.

chrisbeck

yeh sorry guys i did refer this to the FOS but what will happen next? i thought the bank would be the one's who'll have the final decision?

marshallka

chrisbeck wrote: »

yeh sorry guys i did refer this to the FOS but what will happen next? i thought the bank would be the one's who'll have the final decision?

It will now be in a queue at FOS for an adjudicator to look into the complaint and decide either way. It can take quite a long time though. They have a huge backlog of complaints.

dunstonh

chrisbeck wrote: »

i phoned hsbc up today to see how my complaint is getting on (mis-sold ppi) and the fella said because i got FOS involved its in there hands now!!

what does this mean sorry for being dumb :mad:

chris

It means you either didnt like the HSBC final response and referred it to the FOS or you didnt give them a chance to resolve your complaint and referred it to the FOS after 8 weeks. Once that happens, you are no longer waiting on the firm, you are waiting on the FOS.

magpiecottage

dunstonh wrote: »

you are no longer waiting on the firm, you are waiting on the FOS.

What happens now is that an adjudicator (eventually) will get your case from the front of the queue, investigate it and make a decision.

If both sides accept that decision the matter can be resolved. If not, it will go into the queue to be dealt with by an Ombudsman and another long wait begins.

Once it reaches the front of that queue the Ombudsman will make a decision. If you accept it within the specified time limit then it is legally binding on both you and the firm. If you do not it is binding on neither.

The_Loan_Ranger

The idea is that you thrash out a dispute with the lender; if you remain at loggerheads, you then go to the Ombudsman to sort it out as they are (supposedly) impartial.

No point phoning the lender when it's gone to FOS, as they will consider the case closed pending the Ombudsman;s response - their 'Adjudicators' will make the initial decision which boths sides can appeal against- it will then go to an Ombudsman proper for the final decision if this happens.

With PPI's expect to wait about six to nine months to hear back from the Adjudicator at FOS, if it then goes to the actual Ombudsman, start thinking about your retirement plans.

FOS are inundated due to the bad advice presently being spurted out by the media. The company I work for has NEVER paid back a PPI because of the nature of the product we wre involved with and the fact that ours were sold by the book. I deal with about 25 spurious claims every day, half of them go to FOS. It's keeps me and FOS in a job.