Brendan Burgess
Founder
- Messages
- 54,416
It seems clear from the conversations that people have had with the Help Line and from public statements by AIB, that they have no intention of paying people compensation in addition to the redress ordered by the Ombudsman.
There won't be any Independent Appeals System.
They have told people that if they are not happy with the 12% write down and the refund of interest on this write down, then they can complain to the Ombudsman.
In most cases, people will be happy with the redress and won't want any further compensation.
But many others will want and will deserve compensation.
1) People who went through the stress and anxiety of arrears which they could have avoided if they had been on a tracker rate.
2) People who stayed out of arrears but through making great sacrifices elsewhere.
3) People who were subject to legal proceedings for possession or pressure to agree to a voluntary sale
4) And of course, those who actually lost their home.
We will have to wait until we see the letter which accompanies the refund.
But I presume that it will be a "final response" letter so that people can go directly to the Ombudsman with their claim.
Karen, whose initial complaint to the Ombudsman is the basis for the award, did not suffer any of the issues set out in 1) to 4) above. So the issue did not arrive.
But those of you who did suffer will have to go to the Ombudsman.
The first hurdles have been cleared in that you will not need to make the case that you should have been offered a tracker.
But you will have to make the case that the failure to have been offered the tracker was the cause of or accentuated your difficulties.
It's also possible that AIB might do the decent thing and try to settle these complaints directly with the borrower without the need to go to the Ombudsman, but that seems unlikely at this stage.
My guess is that most of them will be resolved at the Ombudsman's mediation stage.
Brendan
There won't be any Independent Appeals System.
They have told people that if they are not happy with the 12% write down and the refund of interest on this write down, then they can complain to the Ombudsman.
In most cases, people will be happy with the redress and won't want any further compensation.
But many others will want and will deserve compensation.
1) People who went through the stress and anxiety of arrears which they could have avoided if they had been on a tracker rate.
2) People who stayed out of arrears but through making great sacrifices elsewhere.
3) People who were subject to legal proceedings for possession or pressure to agree to a voluntary sale
4) And of course, those who actually lost their home.
We will have to wait until we see the letter which accompanies the refund.
But I presume that it will be a "final response" letter so that people can go directly to the Ombudsman with their claim.
Karen, whose initial complaint to the Ombudsman is the basis for the award, did not suffer any of the issues set out in 1) to 4) above. So the issue did not arrive.
But those of you who did suffer will have to go to the Ombudsman.
The first hurdles have been cleared in that you will not need to make the case that you should have been offered a tracker.
But you will have to make the case that the failure to have been offered the tracker was the cause of or accentuated your difficulties.
It's also possible that AIB might do the decent thing and try to settle these complaints directly with the borrower without the need to go to the Ombudsman, but that seems unlikely at this stage.
My guess is that most of them will be resolved at the Ombudsman's mediation stage.
Brendan
