"I don't think it will be done this year," she said. "I think there will be a few more years of this."
The increase was also being driven by some new complaints coming in around the credit contracts and consumer finance act which came into force last year.
Stevens said most of the credit contracts complaints it had received so far related to motor vehicle finance and people not meeting the payments on their car loans.
"They have failed to make loan repayments and have the prospect of having their car repossessed."
Stevens said the problems were not linked to any one company and appeared to be across the board.
People have not fully appreciated the consequences of not making payments.
"In some of the credit cases the company has gone above and beyond the call to make it easy for the person to make repayments. But they have simply not made the payment."
Other than making sure the correct process had been followed there was not much it could do in those situations, she said.
"People have not fully appreciated the consequences of not making payments."
Under the act lenders now have to make sure borrowers can afford to repay a loan before giving out the money.
Stevens said borrowers needed to make sure they could afford to pay for a loan before taking it out.
The service has around 4000 members which include insurers and financial advisers.
INSURANCE INVESTIGATIONS
68 complaints accepted for investigation by the Insurance and financial services ombudsman for December, January and February 2016:
• House = 32% - of these 22% relate to Christchurch
• Contents = 10%
• Vehicle = 9%
• Income Protection = 9%
• Travel = 7%
• Credit contracts = 6%
• Financial Advice = 4%
• 41 complaints accepted for investigation in December January and February 2015.
• Vehicle insurance = 17%
• Income Protection insurance = 17%
• House insurance = 15%
• Life = 12%
• Travel = 10%