Has anyone been successful?

exel1966

Nathan_Spleen wrote: »

No they haven't. In fact they have expicitly stated that they have not made a determination on the fairness of a £12 fee.

Above £12 is deemed unfair and was specifically set at that level to prevent legal action, therefore £12 can be considered fair. It's nothing more than a play on words.

This does not prevent anyone from challenging it within the courts though if they're stupid enough to do so.

Nathan_Spleen

never-in-doubt wrote: »

True, but the powers that be are deciding the fate. We all know 12 is acceptable and will remain in force.

The Office of Fair Trading - the authotity on the matter - thinks differently. The £12 investigatory threshold was only ever a temporary solution and is due to be reviewed about now.


March 2006 OFT board meeting minutes:
Item 5 Credit Card default charges

The Board was advised that the OFT will be publishing a statement on default
charges by the end of March, proposing a threshold. Although this approach is
not seen as a permanent or ideal solution (expected to last around 3 years), it should improve the working of the market.

never-in-doubt

Nathan_Spleen wrote: »

The Office of Fair Trading - the authotity on the matter - thinks differently. The £12 investigatory threshold was only ever a temporary solution and is due to be reviewed about now.


March 2006 OFT board meeting minutes:
Item 5 Credit Card default charges

The Board was advised that the OFT will be publishing a statement on default
charges by the end of March, proposing a threshold. Although this approach is
not seen as a permanent or ideal solution (expected to last around 3 years), it should improve the working of the market.

Ok, and you think they will lower it?

exel1966

So everyone can read the full version and make up their own minds ;-

http://www.oft.gov.uk/news/press/2006/68-06

Nathan_Spleen

exel1966 wrote: »

Above £12 is deemed unfair and was specifically set at that level to prevent legal action, therefore £12 can be considered fair. .

By who?

Certainly not the OFT:

''Following consultation with eight leading credit card issuers we have concluded that default charges in most credit card contracts across the sector are unfairly high in terms of the Unfair Terms in consumer Contracts Regulations (UTCCRs) and therefore unlikely to be enforceable against consumers''

exel1966

Nathan_Spleen wrote: »

By who?

Certainly not the OFT:

''Following consultation with eight leading credit card issuers we have concluded that default charges in most credit card contracts across the sector are unfairly high in terms of the Unfair Terms in consumer Contracts Regulations (UTCCRs) and therefore unlikely to be enforceable against consumers''

Quote Re £12 charges;

'Setting a threshold for intervention is a pragmatic pro-consumer action that is designed to give the industry the opportunity to change its practice without litigation'

never-in-doubt

exel1966 wrote: »

So everyone can read the full version and make up their own minds ;-

http://www.oft.gov.uk/news/press/2006/68-06

from this it states:

Only a court can finally decide whether a charge is unfair or not. The OFT has today set out a statement of its view of the law. This has not generally been accepted by most of the eight credit card issuers.

Nathan_Spleen

never-in-doubt wrote: »

Ok, and you think they will lower it?

They will investigate it under UTCCR like they are doing with bank charges.

exel1966

never-in-doubt wrote: »

from this it states:

Only a court can finally decide whether a charge is unfair or not. The OFT has today set out a statement of its view of the law. This has not generally been accepted by most of the eight credit card issuers.

Hence why i put that anyone can challenge this in the courts in my previous post #12

never-in-doubt

Nathan_Spleen wrote: »

They will investigate it under UTCCR like they are doing with bank charges.

Ok thanks, but being you're clued up with this, do you think they will lower it or increase it? Just interested to know what you think.....

It becomes silly when so many different powers start intervening (i.e. too many differing laws/acts etc) - but so long as we the consumer benefit i;ll be happy