Role of Financial Ombudsman Service In Making PPI Claims

In case of any unresolved dispute with any financial company, the Financial Services Ombudsman or FOS offers their independent support and help resolve the issue. There is a certain process in which you can complain to the FOS and have your problem against a lender for PPI claim resolved. At first you need to explain the problem to the lender and try them to resolve the complaint through an internal procedure. If the problem is not resolved within eight weeks, the matter is then handed over to the FOS. They go through all the facts and try to come to a fair deal.

Here are some of the ways in which FOS can help people who want to make a PPI compensation claim –

  • The role of FOS is to ensure that the people whose claims are rejected get their money back if they have a valid claim.
  • The Financial Ombudsman Service is unbiased and investigates the case thoroughly to ensure that the customers get their due.
  • They have a system in place to check the authority of the claim by both banks and the consumers, and this helps them make quick decisions.
  • They fight for the rights of the consumers and to ensure no wrongdoing takes place.
  • The FOS is an independent institution that is not influenced by the bank, irrespective of how big, and ensures justice is done.
  • FOS checks the documents thoroughly and sees to it that no points or valid proof is overshadowed or overlooked by the bank when rejecting a claim.

These are the few ways the FOS helps the consumers to get the justice they deserve. As so many people are filing claims, with many of them not following the proper order of filing the claim, it is natural that even many of the valid claims are rejected, and this is where the FOS comes in to check and ensure no valid claims are rejected by the bank unfairly. The customers however have to make an effort to reach out to FOS and submit their query and issues, so that the FOS can work upon it. There are thousands of queries already submitted with the bank, because many of the claims are rejected by the bank due to lack of document or proper evidence of how the PPI was mis-sold. The payment protection insurance claim is easy to get if you follow the process and do some research prior to making the claim.

Author: Calvin Brycen

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