We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

MSE News: Ombudsman recruits extra staff to beat PPI logjam

Options
This is the discussion thread for the following MSE News Story:

"The Financial Ombudsman Service has moved to tackle the huge delays for consumers who reclaim mis-sold PPI..."
«134

Comments

  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    If it speeds the process for those waiting months (and months) then this can only be a good thing.
  • Premier_2
    Premier_2 Posts: 15,141 Forumite
    Combo Breaker First Post
    Options
    Where/how does someone apply for one of these positions?
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
    Combo Breaker First Post
    Options
    Premier wrote: »
    Where/how does someone apply for one of these positions?

    Write and ask?

    Be warned, though, friends of mine who have been there have hated it.
  • roonaldo
    roonaldo Posts: 3,420 Forumite
    First Post First Anniversary Combo Breaker
    edited 26 March 2012 at 4:16PM
    Options
    Ive been there, its good but its tough. They are mostly all contractors (like myself) who deal with adjudicating on PPI. I hear its better now, now Deloitte are not managing it.

    Ranstad Financial resource for the position (www.ranstad.co.uk). Its £205 per day if you have experience.
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    Options
    Marvellous, agency gets £200 a day, contractor gets £205?

    We'll be lucky if the tax payer manages to get £405 worth of payout for every £405 spent.
  • roonaldo
    roonaldo Posts: 3,420 Forumite
    First Post First Anniversary Combo Breaker
    edited 26 March 2012 at 4:39PM
    Options
    Sorry I dont understand what you mean, FOS is funded by the banks/FS firms and FOS dont make payouts. Its currently a £500 referal fee to firm, going up soon to £850 for PPI complaints referred.
  • ~Brock~
    ~Brock~ Posts: 1,710 Forumite
    First Anniversary First Post Combo Breaker
    Options
    Are we really naiive enough to think that all these £500/£850's wont come back to haunt consumers in future product pricing?
  • roonaldo
    roonaldo Posts: 3,420 Forumite
    First Post First Anniversary Combo Breaker
    Options
    ~Brock~ wrote: »
    Are we really naiive enough to think that all these £500/£850's wont come back to haunt consumers in future product pricing?

    you are spot on, also the £3.2 billion that the Lloyds group are spending on PPI.

    The customer will pay for it in the end!
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    roonaldo wrote: »
    The customer will pay for it in the end!
    Just like millions of them paid for expensive, often useless, PPI policies?
    The big Banks have more than enough resources to absorb these costs. I doubt we'll see any big price hikes in their goods and services for example, as customers will just shop elsewhere.
  • Pincher
    Pincher Posts: 6,552 Forumite
    Combo Breaker First Post
    Options
    roonaldo wrote: »
    Sorry I dont understand what you mean, FOS is funded by the banks/FS firms and FOS dont make payouts. Its currently a £500 referal fee to firm, going up soon to £850 for PPI complaints referred.


    I assumed FSA (if it's still called that) and FOS are government funded, otherwise it's rather incestuous. If the banks are really paying for the FOS, they need to fine the bad banks, on top of the payouts, so the good banks don't pay for the extra admin, which just end up getting paid for by the bank customers.

    Contractors hired through agencies give a cut to the agency, Temps can easily get less than the agency per day.

    Permanet staff hired through agencies has a fee of three to six months salary paid by the employer.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 344.7K Banking & Borrowing
  • 250.6K Reduce Debt & Boost Income
  • 450.4K Spending & Discounts
  • 236.8K Work, Benefits & Business
  • 610.6K Mortgages, Homes & Bills
  • 173.8K Life & Family
  • 249.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards