Using the Financial Ombudsman

daggin68_2

I had read the articles on this site some time ago but never got around to requesting copy statements ect ect and writing to the bank to complain about my charges i recived (about 5 years ago i was young and stupid and went over my overdraft on a regualar basis)
I then saw a piece on watch dog about 2 months ago. With a direct helpline to the Financial Osbudsman Service for advise.

I called this number, they took some details over the phone and they said they would contact my bank for me.
About a week later got a letter from lloyds saying they had recieved a complaint on my behalf and they were looking into it.
A month later i revieved a letter saying the investigation was still on going and it will be sorted soon
I then just recieved a letter explaining why they charge and that the changes to the guidlines were about default charges, in my case i was only charged costs for dealing with request to go beyone my overdraft?!?

It then went onto state the bank does not normally refund things like this but all cases are considdered on an individual basis and they are going to credit my account £500 as full and final settlement for the complaint!!

Was not expecting this just from a 10 min phone call!!

Edinburghlass_2

I would contact the FO again to see what they say as this is standard practice from Lloyds to refund an amount part way through a reclaim in the hope you will accept this amount in full and final settlement and go away!

Give the FO a ring and find out at what stage their investigation for you is at and how much they think that Lloyds might be due you before you go accepting this offer.

daggin68_2

Edinburghlass wrote: »

I would contact the FO again to see what they say as this is standard practice from Lloyds to refund an amount part way through a reclaim in the hope you will accept this amount in full and final settlement and go away!

Give the FO a ring and find out at what stage their investigation for you is at and how much they think that Lloyds might be due you before you go accepting this offer.

Im just a little worried if i wind the bank up after this offer they start putting on conditions to the amount, ie reduce the services on my accounts or even ask me to leave!
Ill call them for advise however! Am i right in thinking FO will have charged Lloyds £360 just for having to get involved?? :rolleyes:

ninasimone_2

I'm using the FOS but i think its going to take a while.. spoke to them friday and they said it shall taken about 2 months... Its already been about 2 months

Tozer

Of course you could pursue via the Financial Ombudsman service which is free. However, it is completely overwhelmed and will undoubtedly take longer than small claims procedure.

ninasimone_2

I Got My Money Back!!!!!!!! Using The Financial Ombusdman Service Not The Court!!!

Firstly!!! Don't Pay The Bank £10 To Get Your Statements!! I Didn't And All My Three Banks Have Sent Them To Me Free!! If They Owe You Money Why Should You Gove Them More

Hsbc Refused!!! Complained To The Financial Ombusman Service!! As I Couldn't Afford Court Fees!!! And After Waiting 1 1/2 Months Letter This Morning Offering It All!!!! Back Yay!!!

Save Money Use Fos!!!!!!

confusedmomma

Hi,
Having read some threads regarding success via the Financial Ombudsman Service I am unsure of which road to go down. If I go via the FO and get no joy would I still be able to apply through the courts? Lloyds have written to me to say that they are sorry that I am unhappy about account charges but basically won't cough up. Can anybody advise please before I write back to Lloyds?
Cheers!

Mad_Hatter_2

I personally preferred court. The FO takes about 8 weeks i think and their success rate as been nearly as good as the courts, so its down to personal choice.

MAD

janieleeparker

I am a bit miffed, I claimed for myself and for my son, we started this about January, sent 1st letter got the standard reply from them saying no chance of getting your money back, then sent 2nd letter around the end of February, never received a reply, subsequently I sent a complaint to the Financial Ombudsman, Saturday 21st April my son received a letter dated the 11th Aprilfrom Lloyds stating that they would refund the whole of the £480 of charges which is brilliant and that it would be in his account within 10 days, firstly when they say 10 days is it 10 days from the date of the letter or what? but to no avail I did not get the same letter, I am trying to claim back £3840 from them, does this mean they will take longer for my claim as it is a larger amount. How long do we have to leave it for my son to have his money refunded before we get back onto the bank, I have checked his account today and it has not gone in. Any advice would be gratefully received.

Many thanks
janieleeparker

Helmbroken

Hi

Is there anyone out there who has success using the Financial Ombudsman Service after the 8 week period & thus avoided MCOL action? Also, if FOS used, can interest be applied & is it likely to be awarded?

I am a bit skint at the mo, and am at MCOL stage now for 2 claims for Morgan Stanley & Capital One & also as my HSBC claim has been defended, my local court have given me a date of AUGUST :mad: for hearing.

Thanks in advance of replies.

(Duplicate post - Posted elsewhere too!)