Using the Financial Ombudsman

dundeegarry

Hi,

Just a wee word that hopefully some people that were in my situation may find helpful as I was in a quandary on how to claim. IE through Scottish courts, 1 or 2 claims, use english address, how many years to claim etc.

I have always been based in Scotland and was a member of Barclays (Glasgow Branch)

I asked Barclays for 6 years worth of charges plus interest (the total comes to over £1500). They eventually sent me a final letter saying they would refund nothing and would not negotiate on a figure (I was willing to accept £500 less for a quick settlement)

I downloaded a form from the Financial Ombudsman and sent it off with my final response from Barclays and a copy of the charges.

Three weeks later the Ombudsman informs me that although Barclays do not recognise my claim as valid they will send me a cheque for the full amount originally claimed plus interest.

DeeDee07

To anyone who acnnot afford MCOL i say go to FO.I waited until the banks 8 weeks were up and then got the final letter saying !!!!!! off basically.So i contacted FO who were very helpful,i sent copies of everything and they wrote back saying give them a month to sort it as there are alot of cases.The month is now over so i rang them yesterday and they have said to me Shabbey have not been in touch with them and its looking like a full refund :T .Il write once more when i get some more correspondance.I know everyone wants their money like yesterday but its all about being confident in your complaint and of course waiting.:D

tracepppp

DeeDee is right. My complaint is with the FO now, I called them today & they're saying it's at least 4 wks, could be longer, before they can contact you with any info as they and the banks have been inundated with complaints - GOOD:rotfl:
So I'll post my timescales so it'll give anyone looking an idea - I'm early stages with FO at the mo, but they contacted HSBC 20th June, so it's a case of suck and see!
Good luck to all!

chatts_2

Hi all

I have received my knock back letter claiming my account has been dealt with fairly.
The letter states i can refer to the financial ombudsman - is this worthwhile or is it better to immediately go ahead with legal action?

Thanks
Chatts

Stephen_Leak

chatts wrote: »

Hi all

I have received my knock back letter claiming my account has been dealt with fairly.
The letter states i can refer to the financial ombudsman - is this worthwhile or is it better to immediately go ahead with legal action?

Thanks
Chatts

If you don't think that you could successfully handle a court claim, or can't afford the court fees and aren't eligible for fee relief, then the Financial Ombudsman is an alternative. It is free of charge and handles everything for you. They charge the bank involved £400 for each complaint they accept. However, they cannot award interest like a court. Their success rate is good but, if the Financial Ombudsman is unsuccessful or the settlement is unacceptable, you can still start court proceedings.<O:p</O:p

If you threaten to refer your claim to the Financial Ombudsman, give them until 8 weeks from the date of your first letter to reply. However, if the reply either suggests that you now refer your claim to the Financial Ombudsman or says a definite no, then you can refer your claim to the Financial Ombudsman straight away. If you have not received any reply for the 8 weeks, you can then refer your claim to the Financial Ombudsman.

If you threaten to start court proceedings, give them 14 days to reply. If you have not received an acceptable reply by your deadline, then start court proceedings on Money Claim Online.

christhesparky_2

traceppp you are about a week ahead of me, the F O wrote to Nationwide on the 26 June, the F O have given Nationwide 6 weeks to settle

angelwillow

I sent my claim to the FO on 22nd May as being in Scotland my claim amount was over £750. Received an offer from Lloyds via the FO 28th June for the whole amount of my charges.
So anyone not sure,just go for it!

BTW does anyone know how long the banks take to pay up after you have agreed their offer?

tracepppp

angelwillow wrote: »

I sent my claim to the FO on 22nd May as being in Scotland my claim amount was over £750. Received an offer from Lloyds via the FO 28th June for the whole amount of my charges.
So anyone not sure,just go for it!

BTW does anyone know how long the banks take to pay up after you have agreed their offer?

angelwillow
Well done to you!! :T :T i love to hear these good luck stories! Great news!

johnbfan

We are going the FOS route at the moment as we don't have the funds to do the small claims court.

Could anyone who has gone this route let me know how they got on. I know it will take a lot longer but that's OK, and if we are not happy we can still go to small claims court after.

Thanks

tracepppp

Keep u posted! FO contacted HSBC 20th June so will let u know as soon as i do the outcome. i phoned mon and they said i prob wouldn't hear for at least 4 wks yet. i will post my replies as i get them to help any1 else who are going thru FO route. good luck