Complaint Been Referred Questions

Payment Protection Scotland's complaint been referred to the Financial Ombudsman Service questions are listed below:

» What is the Financial Ombudsman Service (FOS)?
» Why has my claim been rejected? I believed I had a strong case.
» Will I be charged more for a referral to the Financial Ombudsman Service?
» How long does this Financial Ombudsman Service review process take?
» What will happen if my PPI review with the FOS is unsuccessful?

What is the Financial Ombudsman Service (FOS)?

The FOS was set up by the Government to offer free, impartial and independent advice to consumers who are in dispute or have a complaint against financial institutions, hence the reason why it is involved in the PPI scandal.

In the event your PPI compensation claim is rejected by your bank, we will take your complaint to FOS who will review your case, deciding if the bank has to pay you compensation.

In the first half of 2012, the FOS upheld 72% of complaints against the banks. In other words, 72% of complaints submitted for review during that period were resolved in favour of the consumer.

» return to top

Why has my claim been rejected? I believed I had a strong case.

You may still have a strong case but your bank has chosen to reject your PPI compensation claim. When this happens, we have the option of sending your PPI case on to the FOS. They will review your case, and will decide in the rejection decision was correct or not.

» return to top

Will I be charged more for a referral to the Financial Ombudsman Service?

Your bank or lender’s decision to reject your case is frustrating and, although this means continuing work on your behalf, we are happy to do so. The original terms and conditions you signed up to – that is ‘no win no fee’ – are still in place and you will pay no more than 35% of the final settlement amount should you win your PPI compensation case on review with the FOS. . 

» return to top

How long does this Financial Ombudsman Service review process take?

This will unfortunately, take some time as the FOS do not run to a deadline; they have also advised us that their review of PPI compensation claim cases will run in chronological order; in other words, in the order that they receive them. We understand that you are disappointed at the bank’s decision but other than refer to the Financial Ombudsman Service, we are unable to hurry the claim through.

» return to top

What will happen if my PPI review with the FOS is unsuccessful?

We will look at the rejection, and advise you on the best course of action. It may be possible to appeal the decision, however to do this, we will need fresh evidence that you were mis-sold the PPI policy. This is the reason why we ask for as much information as possible. When you complete the forms please try to provide us with:

• WHEN were you sold the policy?
• HOW was the PPI policy sold to you? (e.g. over the phone, online etc.)
• Do you remember WHO sold the policy? (can you remember their name?)
• WHAT were you told about PPI at the time, if anything at all?
• Was the COST of the PPI policy explained to you?
• Were you SELF-EMPLOYED or RETIRED at the time?

» return to top