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FOS complaints and civil proceedings

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FOS complaints and civil proceedings

Post by Kestrel on Sun Sep 30, 2018 6:23 pm

Don't know if this has been raised before but thought it worthy of posting, I've not read it all but what I have I take the following from it.

A complaint to The Financial Ombudsman Service (FOS) appears to mean that the creditor cannot initiate legal proceedings until the complaint has been dealt with, obviously giving more time, statute barred etc.

Background
A comprehensive analysis of the background and case law relating to the FOS may be found in Fred Philpott‘s Chapter 11 of Modern Financial Regulation, Kirk & Ross (Jordan, 2013). The FOS jurisdiction is likely to assume increasing importance following the transfer of consumer credit regulation from the OFT to the FCA on 1 April 2014. For example, firms are now required to comply with new rule CONC 7.15.10 contained in the FCA Handbook which requires that a lender must not initiate legal proceedings in relation to a regulated credit agreement where the lender is aware that the customer has submitted a valid complaint or what appears to the firm may be a valid complaint relating to the agreement in question that is being considered by the FOS.

https://goughsq.co.uk/wp-content/uploads/2014/06/FOS-complaints1.pdf

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Re: FOS complaints and civil proceedings

Post by onak on Sun Oct 14, 2018 3:47 am

Yes, I have used Ombudsman service twice successfully in UK without court involvement on bank fees/charges and excessive charges within phone contract, both ruled in my favour.... I am currently involved in Ombudsman dispute resolution process in Aus that has stopped court proceedings, and would be interested to hear if anyone has been successful here using the Ombudsman service in regards to disputed debt.

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Re: FOS complaints and civil proceedings

Post by handle on Sun Oct 14, 2018 5:27 am

Interesting:
Financial Ombudsman Service Ltd - have a look at the people - directors are or have been directors of banks - is that not a conflict of interest.

I am not saying there is any skullduggery going on, because we all know that banks are intrinsically honest

Also, consider the wording:
"Lender must not initiate legal proceedings in relation to a regulated credit agreement where the lender is aware that the customer has submitted a valid complaint or what appears to the firm may be a valid complaint relating to the agreement in question that is being considered by the FOS."

That is a load of bollix......lookat the words in bold - its common sense you cannot have two "courts" looking at the same issue at the same time. DO they think we are stupid.

So, if its a valid complaint, NOT currently with the FOS then the lender can initiate legal proceedings.
Again the consumer gets compromised - If legal proceedings have begun, you cannot go to FOS and if you ever wanted to go to FOS you have a strict time limit. Therefore there is only EVER a small window that that paragraph ever applies.

However, that small time limit can be very useful. eg, 6 years are nearly up so you can nearly use the statute of limitations, and if you think (based on correspondence you receive) that your lender (or assignee) is about to commence litigation, then stick your complaint in to the FOS, drag it out and tip it over the six year line before litigation commences.

Hey, i just realised you can expand the editing/post box by dragging the corner with the mouse.

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