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A fresh jump in payment protection insurance (PPI) complaints has driven up the total number of cases going to the Financial Ombudsman Service (FOS). The FOS received 55,907 complaints in the last three months of 2011, up by 10% from the previous three months.
That was due to a 57% jump in PPI complaints during the same time, from 19,259 to 30,301. The FOS makes rulings on complaints that financial firms have failed to resolve themselves. At 54% of the current FOS workload, fresh complaints about PPI policies still far outstrip the other types of problem being dealt with by the ombudsman. Credit cards, current accounts and mortgages between them accounted for just 18% of all complaints received between October and December last year. PPI insurance was supposed to cover loan repayments if a borrower became ill or lost their job.........Read more here---: BBC News - Renewed surge in PPI complaints to financial ombudsman
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