PPI complaints about reclaims still a problem though 2013

28 November 2013

The Financial Ombudsman Service has provided some updates about the PPI complaint situation this year – and it makes both stark and heartening reading. Numbers of complaints to the Ombudsman from those having issues with their PPI reclaim were the highest on record at 327,035 over the first 6 months of 2013, 15% more than the last 6 months of 2012.

The complaints have now finally started to lessen however, with July to September recording 115,247 which is lower than the same timeframe in 2012. In total, the Ombudsman has now dealt with over 1 million making a PPI complaint about how a reclaim case has been handled by the banks. 200,000 PPI complaint cases have been dealt with in the last 6 months alone.

Looking at more recent data, between April and September 2013 61% of PPI complaints were upheld once the Ombudsman had investigated them, which while lower than previous, is still far higher than the complaints upheld for any other banking or finance matter.

This appears to show that the big banks are not yet playing fair in resolving the debacle. Lloyds TSB are reported to have wrongly rejected an incredible 90% of PPI complaints, with Bank of Scotland a close second by wrongly rejecting 87% of PPI complaints in the first 6 months of this year. But if you think that this covers lots of topics, think again! 86% of all complaints to the FOS are about PPI, while complaints about other banking matters actually dropped over the period.

Don’t be one of the people that get stuck, denied or delayed. If you have one of the 50 million PPI policies sold over the last 15 years, fill out our quick and easy form to find out how we can help you make a claim, and how much you could get refunded. We’ll match you to a legal expert that will guide and support you at every stage of the process, even if you need to make a PPI compliant to the FOS, and make sure you get the refund that’s rightfully yours.