The Financial Ombudsman Service (FOS) has warned that the rate of Payment Protection Insurance (PPI) claims has climbed “steeply” to over 3,000 a week.

The FOS explained in its most recent newsletter that while PPI complaints fell in the previous quarter to September, the situation has reversed to over 3,000 per week in the past two months. The ombudsman added that it was expecting to see complaints number 300,000 soon.

According to the service, the numbers were “pretty unsettling” and uncertainties around PPI were one of its biggest challenges for the next few years.

Natalie Ceeney, chief executive at the FOS, said the service would be consulting on whether it would need significantly more resources.

Ms Ceeney wrote: “A better understanding of the numbers and issues around PPI is crucial to our ability to plan ahead efficiently and gear up our operations for next year. For us, this isn’t just a question of the volumes and flow of cases. It’s also about how well financial businesses, as well as the claims-management companies, will themselves have dealt with those cases that are subsequently referred to us to sort out and settle.”

Sally Bowyer, Managing Director of leading claims firm, BrunelFranklin.com said: “We continue to see a huge increase in PPI refund applications as public awareness gradually rises. Cases of mis-selling are still coming to light; as people feel the financial squeeze and learn of the PPI refund successes of friends, family and colleagues; the upward trend in the number of people seeking refunds is likely to continue for the foreseeable future.”

Learn more about PPI refunds and find out if you could apply for a refund today! Visit the website www.brunelfranklin.com or call Brunel Franklin, free, on 0800 051 54 51.