Icesave ( Again ! ) - Savers story

frugalfreda

JBmoney wrote: »

This is just my story and I know everyones is different.
Do not need any comments about my stupidity or lack of
foresight or lack of financial acumen. Thank you.
I am a working class individual who having received a large
family inheritance ( out of the blue ) looked around for some
place to put my sum. Unfortunately, in January of this year, I
found Icesave. I may regret that discovery for the rest of my days.
I am not a particularly financially astute person nor did I ever
in my wildest dreams envisage that placing even a quite large sum
in a bank ( any bank, anywhere, anytime ) could be problematic.
I have now lost what to me is an unspeakable amount of money and
am heartbroken and very depressed as I now feel I have stolen
something from the future of my 3 sons. All I read everywhere about
this situation is how to claim compensation and I`m afraid in my
situation this is very, very cold comfort indeed.
I am sorry to bear my soul to strangers but I absolutely had to put
my thoughts down. Can we as Icesave savers do anything to apply
pressure anywhere ? We`ve had other recent runs. Did large sum
investors / savers lose ALL their funds ? Once again sorry but there
are bound to be others in my situation. You perhaps could put your story
in this thread if it helps you in some way ?

I really do feel for people like you who have got substantial amounts with Icesave, or anyone who is going to be affected if they can't get their money in the short term or less back than what they put in. I've got enough in there to feel it and I will be gutted if I don't get it back as it is a reasonable chuck of my maternity leave savings (nb. not preggers yet though :rotfl:), but I know it is small fry compared to others so I am trying not to feel too sorry for myself.

SeanW

Birdie100 wrote: »

my concern now is that the Icelandic government simply cannot free its money back to us. What I fear may well happen now is that Icesave will sit neatly as being allegedly "solvent" - since in fact Landsbanki is now not insolvent. But since it hasn't been officially declared insolvent, nothing compensation wise has to payout, and they've successfully blocked our withdrawals.

Their terms and conditions say they can cease withdrawls for up to 60 days. After this, they would be in breach of contract, and you could take them to court?

I would then have thought they would either have to pay out if they can or be declared insolvent.

k8r4u

nouf wrote: »

...
i wonder why we bother in todays UK, i for one will feel very bitter towards life if this ends badly, its no wonder many turn to crime,
...
they say crime dont pay, well if this fiasco turns out badly, they will be a few less respondant to that idea
...

Yeah, crime's the answer :rolleyes: :rolleyes: :rolleyes: Is the new UK motto "if I can't have it, !!!!!! should anyone else deserve it ?" - that's the same mentality that drives chavs to run keys down the sides of cars they'll never do the graft to buy for themselves.

And I'm in the same boat as the rest of you by the way, just hope there isn't a fight for the lifejackets ... sounds like it'll be f**k it, every man for himself.

Just hang on until we know what's happenning, nobody's lost money in Icesave. YET.

Birdie100

But cos69, what is it worth to compensate those 15000 of you? Unfortunately there's no incentive there for the government to save you, since you aren't in its heartlands a la Northern Rock. The other reason is the fact that pre northern Rock, the great pensions debacle of Equitable Life is sadly a case in point.

I'm sorry my comments above seem so harsh; but it is what I fear the government will do sadly. I wish I could be more positive, but it would seem Darling and Brown are far more preoccupied (rightly so in my opinion) over the health of the british banks (note RBS's share price fall of 41% today)