The last month of 2019 produced a good crop of Christmas and New Year surprises for our clients with a dozen of our Top 20 payouts all receiving five figure sums in compensation from just a single claim.
It was good news too for some of the clients who managed to get their complaints in just before the August 29th deadline.
In fact, the top payout of £44,194.72± went to Miss H whose claim on a single HSBC credit card was submitted the week before the deadline.
There has been no word from the Financial Conduct Authority (FCA) or the banks about the rate at which claims are being processed nor how many there are in total.
Although our average timeframe was 8 to 16 weeks for a decision from the date of the lender’s acknowledgement, the banks have been given a six month period of grace to complete all of their investigations, as they say their systems have been swamped with the sheer volume of last minute complaints.
However, that doesn’t mean everyone will have to wait until June for the answer to their claim.
Final decisions are still coming through on a daily basis and many clients are receiving back the money they are owed. Regrettably the wait to find out if they are owed will be longer for some than for others.