FSA Makes New Rules

Welcome to Burley's Blog. My thoughts for the week and every week as PPI continues to hit the headlines.

The most prominent changes of the week centre around the FSA's new changes in the way in which the banks must process PPI complaints from their customers. I believe it will change the way banks will deal with complaints, ultimately in a positive way, but we must be aware that some banks may use the new process to delay the progression of cases, thereby continuing to hold back money which belongs to our clients. Every bank must use the new rules from the 1st December and so they have been given some considerable time to implement the new rules.

We will continue to fight for our clients to get them the best deal regardless of how the banks choose to deal with the cases.

On another point, I note with interest the plight of a man in Dumfries, duped by a Claims Management Company suggesting they could write his credit card debt off. Goldsmith Williams have always aired on the side of caution when advising clients of their ability to write off their debts. There have been so many Claims Management Companies promising to help write debt off, but few appear to have succeeded on mass. Given the recent High Court rulings on the subject, it appears there is little chance in getting your debt written off and I expect the area to continue to decline.

As it happens, the CMC told their client that they offered a free service, but they charged £1,400 to tell him that he had never paid payment protection insurance and couldnt write his debt off.

If you feel you have been mis-sold PPI, then give PPI Return a call on 0800 877 8888. PPI Return is a division of Goldsmith Williams Solicitors.