The FOS or Financial Ombudsman Service is the corporation that handles issues against financial authorities no matter what it is about. Bank account charges, pension or PPI everything are handled by them. They have the power of the final say on any issue.
Keep in mind that if you are making a claim for your PPI then first talk to the lender yourself and then if you feel ignored, you can approach the ombudsman. Ombudsman is a public advocate, who is in charge of representing the interests of public complaints.
How an ombudsman helps
Claiming a PPI can become an intimidating prospect. It needs lots of efforts, time and even searching for your paperwork. If you hire an ombudsman to get a claim of your PPI then it is the ombudsman duty to provide assistance with all the work that is encountered on your way.
The requests they get for a claim are those, which have already been rejected by the lender or the authority. On an average they are successful in clearing two third of the complaints they get. They look into both the aspects that is, if the bank is wrong or you are wrong. If they get to know that the bank has done everything fairly then they will explain you with proper reasons. However, if they feel that the bank looted you then they will take the required action to make things right.
Websites like freeppicalculator.co.uk offer you online services to help you claim your PPI. You need to fill some details, so that they can contact you easily. In a short time, you will get a call from one of their personnel, who will help you through the process. Their websites usually has a lot of information and advices and also a questionnaire to collect all the required information that can help you to file a PPI complaint yourself.
How long will it take to resolve your case?
The amount of time your case will take to get resolved basically depends on two things
- How easy it is to get all the related paperwork?
- How straightforward your case facts are?
Once you have given all the necessary details and paperwork then you don’t need to do anything. These people will handle everything and call you, if they need any further information from you.
The financial advocates help you in your case to get a claim and most of the time they are successful in doing the same. It is advised to hire someone reliable, if you have been mis sold a PPI.