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End the bank charges hold now, Martin Lewis urges regulator

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Personally I think you should be putting pressure on the FSA Waiver for more clearer guidelines to consumers. This is where people's hopes are raised far higher than perhaps is needed. Let's wait for a decision and the Substantive Issues.
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Thing is if they do it right and get the substantive issues sorted properly it will all be clear cut and to prevent an onslaught of litigation the FSA/OFT/bba/banks need to come up with a PROPER way to handle refunds/restitution/interest/credit record fixing etc get the legalitys sorted in court properly first .... personally I would much rather see the waiver continue and stays remain until everything is sorted out - ie the issues in the original proposed group litigation see the FSA enforce the waiver properly especially with regards to debt collection and financial difficulty, than lift it after this initial stage for everyone to fight it out amongst themselves.
Also lifting the stays/waiver before the issue is judged upon opens people to costs if it did by any chance go the other way. Look at whats happening with business accounts.
What is happening with business accounts?
Amount outstanding £550 :beer:
Argument is the penalties charges judgment in the high Court applies to business accounts too as the terms relating to charges are materially the same.
Do you think I should try to get the charges reclaimed? They know the business is in financial hardship because they have just restructured our loan and are in a payment arrangement with them.
Your advice would be appreciated!
Amount outstanding £550 :beer:
if you do want to try you need to look at the exact terms looked at of HsBCs in the test case (Annex 2 of oft Poc) that were deemed not capable of being penal, and compare those to the same dates business accounts terms, and they need to be materially different.
will find link to annex 2.
Amended Particulars of Claim (278 kb)
Schedule A to OFT's particulars of claim (Excel 156 kb)
Schedule B to OFT's particulars of claim (Excel 586 kb)
this link http://www.oft.gov.uk/advice_and_resources/resource_base/market-studies/current/personal/personal-test-case/personal-documents
Amount outstanding £550 :beer: