We received 8,401 disputes during the quarter ending 30 September 2015. Compared with last quarter, this is a 9% increase; compared with same quarter last year, this is a 4% increase. The increase from last quarter is attributed to credit (up 9%) and insurance (up 14%) disputes.
Total disputes received by product line
The majority of disputes received this quarter continued to be credit disputes (46%), followed by general insurance disputes (29%).
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 have changed our dispute resolution process. Disputes can no longer bypass Registration and enter Acceptance directly. We refer all disputes at Registration stage back to the FSPs. Disputes received at the Registration stage therefore is the same as disputes received in the section above.
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
This quarter, we accepted 4,735 disputes. Compared with last quarter, this is a 16% decrease; compared with same quarter last year, this is a 22% decrease. The decrease from last quarter is expected due to the change of our resolution process. All disputes received at Registration stage are now referred back to FSPs. We do not accepted any disputes that bypassed Registration.
Credit and insurance disputes make up the largest proportion of all disputes accepted. Credit disputes make up 44% and insurance disputes make up 31% of all disputes accepted this quarter.
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.
We closed 8,568 disputes this quarter. This is a 4% and 2% decrease compared with last quarter and the same quarter last year, respectively.
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.
Total disputes closed (by outcome)
The table below shows the outcomes of the disputes we closed in July – September 2015. Of the closed disputes, 66% was resolved through an agreement between the financial services provider and the consumer. This is consistent with last quarter. We closed 16% of disputes as being outside of FOS’s jurisdiction and over 6% of disputes was closed due to applicants deciding not to pursue their dispute(s).
Preliminary View is a new stage which is part of our new resolution process. At this stage, we express our initial view about the case to the applicant and FSP. The applicant and FSP can accept our informal view and a dispute can be closed. We closed over 3% of disputes with an outcome of Preliminary View in favour of either Applicant or FSP.
- 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%.