This is some text prior to the author information. You can change this text from the admin section of WP-Gravatar To change this standard text, you have to enter some information about your self in the Dashboard -> Users -> Your Profile box. Read more from this authorWith the recession still biting and unemployment showing no signs of slowing, more and more people are looking to PPI claims as a good way of bringing some money in.
In fact, the Financial Ombudsman Service (FOS) is predicting an 18% rise in complaints over the next 12 months and expects to take on 150,000 new cases in 2009/10. This figure will be up 127,471 on last year.
Commenting on the potential backlog of cases that could develop, FOS external relationship manager Niall Jeewoonarain said the Ombudsman had “lost patience with large firms stalling complaints”.
Complaints about mortgages and PPI refunds would fuel most of the rise in cases, he said. And with the ombudsman clamping down on lenders taking their time to resolve claims, the number of cases to reach a conclusion is expected to go up from 113,000 to 165,000 over the 12 months.
In addition to the increase in pressure on the lenders, the outsourcing of the adjudication of PPI complaints to accountants Deloitte should help the ombudsman to close more cases.
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