Complaints about Payment Protection Insurance still at 2,000 a day

According to the Financial Ombudsman, there were 132,000 complaints about Payment Protection Insurance (PPI) in the first quarter of 2013. Complaints about PPI are still running at more than 2,000 a day with current figures suggesting that 78% of judgements are in favour of the customer and that most of the complaints being received by the ombudsman are still being upheld. UK banks have so far set aside £15m to pay out in compensation to those who were mis-sold PPI policies. A spokesman for the Financial Ombudsman said “It is disappointing that the number of complaints we continue to receive remains at over 10,000 a week.” “This is particularly true given that the banks have had the opportunity to resolve each complaint before it is referred to the ombudsman,” they added. The Financial Ombudsman already employs a thousand staff members to deal with PPI complaints alone. Due to the current volume of claims, it is in the process of recruiting an additional 2,000 staff to deal with the complaints. The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article. Setfords Solicitors are a national full service law firm, with dispute resolution solicitors in Brecon and across the country.