Rowen praises prompt pay outs

November 6, 2007 12:00 AM

Rochdale MP Paul Rowen, has praised the Financial Services Compensation Scheme (FSCS) for they way they dealt with the Streetcred collapse in Rochdale. The FSCS promptly swung into action as soon as the announcement was made. 3,000 customers in Rochdale were affected but many of these have now or about to received their savings.

Mr Rowen said: "I am hugely impressed with the swift and efficient manner that the FSCS and the Financial Services Authority have dealt with this matter. Thousands of people faced uncertainty over whether they could access their much needed savings before Christmas. My staff and I have spoken with the FSCS on a number of occasions and I am delighted to say they were meticulous in their dealings. This has been a difficult time for thousands of residents but this department's attitude and help has been first class. They even took on extra staff to deal with this dire situation."

Anyone who still hasn't filled in their application form is encouraged to do so as soon as possible. Anyone having difficulty filling in your form is asked to call the Financial Services Authority on 020 7892 7300.

Mr Rowen also had praise for Rochdale Borough Council's response - Mr Rowen said: "Technically this was not the Council's problem but they went out of their way to help. Council Officers led by Andy Zuntz did a superb job in setting up a helpline alongside Council Leader Alan Taylor. In times of difficulty, our Council reaches out and as Member of Parliament, I am proud of them."