Credit, Collections & Insolvency News
The Financial Ombudsman Service (FOS) plans to increase its levy on financial firms by an extra £16 million. The proposals are to increase the current levy of £70 million to £86 million by 2026/27. The FOS is also consulting on raising its case fee from £650 to £680, in line with inflation. The ombudsman also…
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Latest quarterly figures have shown that complaints to the Financial Ombudsman Service (FOS) fell to their lowest in more than a year in the April to June. Figures show that the FOS received 68,000 new cases in the period, with this down from 74,600 complaints seen a year ago. Complaints about motor finance were the…
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Financial Ombudsman Service (FOS) has announced that professional representatives will be charged £250 to refer a case to the service, FOS says professional representatives can bring ten cases to the service for free each financial year. After that, every subsequent case they refer will be chargeable. They will receive £175 back in credit if the…
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