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consumer-credit businesses covered by ombudsman - first anniversary

4 April 2008

To mark the first anniversary of consumer-credit businesses coming under the Financial Ombudsman Service, the ombudsman is launching a tailored online resource for consumer credit businesses, providing useful information on the complaint-handling rules, time limits and the ombudsman process.

Over the last year the ombudsman service has received - in line with expectations - around 2,000 consumer-credit complaints about a wide range of credit issues from debt-collecting and hire-purchase to pawn broking. For the ombudsman to be able to help, complaints about consumer credit must relate to an event after 6 April 2007 - and consumers need to have raised the problem first with the business concerned.

Jane Hingston, lead ombudsman for banking and credit, said:

It has been encouraging to see how quickly many businesses with consumer-credit licenses have adapted to our role - and how willing they have been to participate in arriving at informal complaint settlements.

media enquiries

  • Emma Parker – phone 020 7964 0966
  • David Cresswell – phone 020 7964 0134
  • out of hours – phone 0771 8658 306