Stretford and Urmston MP praises work of the Financial Ombudsman Service (From Messenger Newspapers)
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Stretford and Urmston MP praises work of the Financial Ombudsman Service
6:00pm Wednesday 28th August 2013 in News
KATE Green, MP for Stretford and Urmston, has revealed the Financial Ombudsman Service told businesses to pay compensation to nearly half of Trafford consumers who called the service’s helpline last year.
The Financial Ombudsman Service is a free, independent service set up by Parliament to sort outindividual complaints between consumers and financial businesses.
Last year, 1,641 people living in Stretford & Urmston contacted the helpline – a huge increase of 102 per cent from the previous financial year.
Forty-seven per cent of these complaints were upheld, meaning the Ombudsman found businesses had not treated the consumer fairly so told them to pay back some kind of compensation.
The top five most complained about products from people living in Stretford and Urmston were Payment Protection Insurance (PPI), credit card accounts, current accounts, house mortgages and overdrafts and loans.
The Ombudsman found that since last year the number of complaints about PPI had almost trebled in Stretford & Urmston, in line with general complaint trends from across the UK.
Kate said, “With everyone watching the pennies in this tough financial climate it’s good that more people in Trafford know they can turn to the Ombudsman if faced with a financial problem.
“The number of complaints the Ombudsman has upheld shows the important role the service plays in compensating consumers who have been unfairly treated.
“I will work to promote the Financial Ombudsman Service across Trafford to make sure that the people who need to make a complaint know where they can find support.”
The consumer helpline is on 0300 123 9 123 or 0800 023 4567.
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