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Issue 20 - January 2015

Statistics report

 

We received 7,853 disputes between October and December 2014. This was a slight decrease (3%) from the previous quarter and a 6% increase from the same quarter last year. The decrease may in part be due to the two less business days this quarter compared with last quarter. Credit and general insurance disputes continue to be the largest contributors to the overall complaints and disputes received this quarter.

Graph - Complaints and disputes received this quarter

 

Total disputes received by product line

The majority of disputes received this quarter continued to be credit disputes (46%), followed by general insurance disputes (25%).

Table - Total disputes received by product line

Note: The total number of disputes received in this table exceeds the total reported in the chart above. The total in that chart is based on counting each case, even if it is about multiple products and issues, as one dispute.

 

Disputes received at the Registration stage

Registration is the first stage in our dispute resolution process. When we register a dispute, we record the basic details and refer them on to the financial services provider (FSP). The FSP then has an opportunity to resolve the dispute with the consumer directly, without our involvement. Click here for more information about our process.

We received 3,446 disputes at the Registration stage between October and December 2014, which is an increase of 3% compared with last quarter. By the end of the quarter, almost 32% of these disputes had been resolved by the financial services provider, 27% had been escalated further to the next stage of our dispute resolution process, and around 38% were still open at the Registration stage.

Table - Disputes received at the Registration stage

 

Accepted disputes

Acceptance is the second stage in our dispute resolution process. It is the point at which we start playing an active role in trying to resolve a dispute. Click here for more information about our process.

The number of disputes accepted during this quarter (5,751 disputes) was 6% lower than the previous quarter but was 6% higher with the same quarter last year.

Graph - Disputes accepted

The breakdown of accepted disputes by product line is consistent with the breakdown of disputes received in this quarter (as discussed above).

The proportion of disputes accepted by product lines remains similar to previous quarters.

Table - Disputes accepted by product lines

Note: The total number of disputes accepted in this table exceeds the total for this quarter in the chart above. The total in that chart is based on counting each case, even if it is about multiple products and issues, as one dispute.

 

Disputes closed

We closed 8,668 disputes during this quarter. This was a slight decrease (down 1%) compared with last quarter. However, this number increased 4% compared with the same quarter last year.

Again, the decrease in the number of disputes closed could partly be due to two less working days this quarter.

We closed more credit and general insurance disputes in comparison with other product lines. This is consistent with the higher number of credit and general insurance complaints and disputes received.

Graph - Disputes closed

 

Total disputes closed (by outcome)

The table below shows the outcomes of the disputes we closed between October and December 2014. Of those disputes, 67% were resolved through an agreement between the financial services provider and the consumer (the person or business who lodged the dispute), which was a slight increase (1%) on last quarter.

Table - Disputes closed (by outcome)

Notes:

  • All the data in this report was correct at the time of extraction.
  • All the percentages in this report have been rounded to the nearest whole number. Because of this rounding, the sum of the percentages in a given table might not add to 100%.

 

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