Abbey Bank Charges - Hardship

Wally_woo

Hi, I am new to the Forum. I need some advice. My Husband and I put in a case to the court for £12162.00 in April 07. We havn't got any further because of the procedures in the High Court. Our circumstances have now changed and my Husband has had to change jobs meaning a considerable pay cut. we are finding it very hard financially. We are considering claiming under the Hardship route. If we do this can we claim the interest during the last 6 years and also the interest from April 07? If the Abbey make us an offer and we accept, would that be the end of the claim ie full and final settlement? I have been reading the forum and the more I read the more confussed I seem to be getting. It would be great to hear from anybody who has some advice or who is in the sme boat. - Thanks:eek:

Orford

We are considering claiming under the Hardship route. If we do this can we claim the interest during the last 6 years and also the interest from April 07?

No, since you are only entitled to s69 8% interest via the County Court

If the Abbey make us an offer and we accept, would that be the end of the claim ie full and final settlement?

No, the FSA waiver specifically says that a bank cannot make a F&F agreement on a part offer. ie they would have to refund the remainder once the OFT test case is decided

http://www.fsa.gov.uk/pages/Doing/Regulated/Notify/Waiver/pdf/disp_monthly.pdf

(16)
if the firm attempts to resolve a relevant charges complaint after 27 July 2007:
(a)
the firm must not seek agreement from the complainant that the resolution is in full and final settlement of the matter;

(b)
in relation to such complaints, if the outcome of the test case produces a result that is more favourable to the complainant, the firm must take all reasonable steps to pay any difference in the amount of compensation actually received by the complainant and that that the complainant would have been entitled if his claim has not been settled by the firm then; and

(c)
the firm must explain the implications of its approach and commitment;

esmerellda

I would include the 8% in your request for a refund as also in the waiver is a part about compensatory interest. However this wouldnt be paid out with a hardship case in the interim payment. The change in circumstances may help with your case, and you need to detail this to them along with any details of arrears you have. The case held in court will stand and any interim payment will be subtracted from any final payout after the test case.