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Stuart Mosley No Comments

Did you know, that there were more than 15 million people in the UK that regularly miss out on getting refunds, replacement products, and resolving problems because they do not know how to complain with confidence?

The new study from the Financial Conduct Authority (FCA), which is encouraging people to check if they were mis-sold payment protection insurance (PPI) and to make a complaint before the deadline, shows that 28% of people in the UK had admitted that they simply put up with these situations, such as receiving poor service and receiving low-quality meals because they don’t have the knowledge and confidence to speak out.

Data from the new research shows that the younger generations are the least likely to speak out about resolving their problems or getting their money back. The data shows that there are less than half (46%) of 16-24 year olds that would speak out about receiving a poor service at a restaurant (compared to 71% of people over the age of 55.) and 16-24 year olds, on average, would wait for over a week before they complain about a problem. Whereas, people over 55 takes, on average, 2.5 days to complain.

The FCA’s study, which was launched to highlight the deadline on 29th August 2019 for submitting PPI complaints, also reveals that the younger age groups are most likely to leave it too late to complain, with 24-34 year olds being twice as likely as people over 55 to delay their complaint so much, that they miss their chance.

Different generations have different views on what it actually means to complain which could be one of the main contributing factors to complaining being a ‘dying art’. The study also researched the reasons for people feeling the way they do when it comes to complaining. The data shows that younger people are more likely to see complaining as the same as ‘causing a scene’ than their parents, who more likely associate it with empowerment. There were two in five (44%) of people under the age of 35 relating complaining to ‘getting a good deal’, whereas, compared to 68% of people over the age of 55. On the other side, there were more than a quarter (27%) of people that associate complaining with ‘awkwardness’, versus just over 11% of people aged over 55.

 

About the Author

Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander.  He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.

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