Egg (now Canada Square) disagree with FOS assessment

Corneycobs

Hi all,

A few weeks ago, I received a letter from the Financial Ombudsman Services saying that they believed, from the evidence they had, that my claim for a refund of PPI added to my Egg credit card (which was open between 2002 and 2006) should be upheld.

I've received a further letter today saying that Egg have disagreed with the FOS assessment (unfortunately, the FOS said they would enclose a copy of Egg's letter which they have omitted so I need to chase that up).

I just wondered if anyone else had experienced this and, if so, how it turned out for you?

Thanks!

dunstonh

I just wondered if anyone else had experienced this and, if so, how it turned out for you?

In most cases the ombudsman agrees with the adjudicator. However, PPI complaints are not often referred to an ombudsman unless the seller feels something fundamental has been missed.

You are now in another 18 month or so queue.

Corneycobs

dunstonh wrote: »

In most cases the ombudsman agrees with the adjudicator. However, PPI complaints are not often referred to an ombudsman unless the seller feels something fundamental has been missed.

You are now in another 18 month or so queue.

Thanks. It would be interesting to get a copy of Egg's letter of disagreement to see on what basis they don't think I was mis-sold. The cynical side of me wondered if it was a stalling tactic on their part due to the volume of claims (i.e ease cashflow of payouts).

Ah well, another 18 months plus on top of a credit card closed 8 years ago isn't such a big deal in the grand scheme. It will be what it will be.

Edit to add: The latest letter from the FOS indicated it wouldn't change its mind unless there was substantial new information presented by Egg.

dunstonh

he cynical side of me wondered if it was a stalling tactic on their part due to the volume of claims (i.e ease cashflow of payouts)

No. To string it out on purpose would cost them more in the long run and the ombudsman would report them to the FCA if it was happening a widespread basis.

Edit to add: The latest letter from the FOS indicated it wouldn't change its mind unless there was substantial new information presented by Egg.

The firm, like you has a right to appeal the decision. So, whilst an adjudicator may have put that, it doesnt apply to an ombudsman.