Huge increase in complaints over credit rating

Huge increase in complaints over credit rating

New report through the Financial Ombudsman provider reveal an 89% escalation in the true wide range of complaints about credit rating.

This included a 130per cent boost in complaints about payday advances and a 360% upsurge in complaints about instalment loans.

As a whole, 50% of complaints about credit services had been upheld in 2018/2019, a small enhance on the 47% upheld in 2017/2018.

The report also highlights a 20-point escalation in the amount of upheld complaints about present records and packed bank records.

What exactly are clients complaining about?

While PPI-related complaints remain at high levels with 46per cent of all of the brand new complaints in the entire year 2018/2019 having a PPI connection, there were some significant increases in credit rating complaints.Read more