MSE News: Bank charges update: the phoenix from the flames + full Q&A

onlypaddy

ALIBOBSY wrote: »

Can't those who have claims in amend their POC to now include regulation 5? Rather than having it struck out and having to start again.

ali x

hope so....mine is in court system and cost £80 to get it there so hopefully I can modify it and not have to pay again.

Does anyone know if we are likely to have to pay the banks legal fees if they mass reject all the current court cases on hold? That would be a sickener and has me worried stiff right now!

superdood

this is great news and just the kind of thing I was hoping for. Well done to Martin and the MSE team....I know nothing can be set in stone right now but you're not giving up so we won't either :beer:

MillaJoJo

Do remember, the process of law is normally abused by those that think they can get away with scare tactics. The banks have been doing this throughout people's claims and throught the court process. It's a well used tactic to make you GO AWAY.

They way they word the statements and letters to come is a carefully orchestrated way to do just that.

Get the word out about this possible route.

ALIBOBSY

onlypaddy wrote: »

hope so....mine is in court system and cost £80 to get it there so hopefully I can modify it and not have to pay again.

Does anyone know if we are likely to have to pay the banks legal fees if they mass reject all the current court cases on hold? That would be a sickener and has me worried stiff right now!

From another forum it is form N244 to amend the POC, but I believ you have to pay a fee as well. Someone on the other forum rang the court regarding this and was told to get any amendment in ASAP before a judge strikes it out.

Worth a call to your court.

Can't see them getting courts legal fees for a county court case, you just lose your own fee.

ali x

SnargleFlip

What I find really odd is the quotes that 'the banks argued on the basis that they would have to pay more than £20b should the ruling go against them'.

Since when has an inability to pay a fine or penalty ever been used as defence in a court of law?

MSE_Jenny

Hi guys,

The Financial Times are doing a story on this and would love to speak to someone who's had their case put on hold.

If you would like to speak to take part, please send me a private message, with your name & telephone number. Thanks!

SnargleFlip

I also find it rather sickening that we go overdrawn by as much as a few pence, and the banks take a chunk of money from us.

The banks themselves go overdrawn to the tune of billions of pounds, and yep, they take another chunk of money from us.

vhadfield1805

I do hope that everyone does get there money back, but the thing that worries me is that some banks have said that if they have to pay back all the money, they will just get the money back via other means.

Like charging us £2.50 everytime we draw cash out, at the moment its free and charging us for having an overdraft facility which at the moment is also free with most banks. So we never really win against the banks.

I have also know some people that have had money from the banks and then subsequently been asked to close their accounts and leave the bank and have then had trouble getting an account with another bank.

I just hope that this doesn't back fire on us and cost us more money in the long run!

magiciansgirl

MillaJoJo wrote: »

I'm sure they will try and keep a lid on this. I mean, they did have a spokeman for HSBC, I believe who ended his statement with "We would like to remind customers that the 'C' in 'H.S.B.C', doesn't stand for Charity, it stands for Corporation.

Like any of us were under that insane illusion. HA

I smell bias.

Duh, so that's the attitude of my bank, is it? The 'C' clearly doesn't stand for 'Charming' either.

Stephenbw

MillaJoJo wrote: »

I'm sure they will try and keep a lid on this. I mean, they did have a spokeman for HSBC, I believe who ended his statement with "We would like to remind customers that the 'C' in 'H.S.B.C', doesn't stand for Charity, it stands for Corporation.

Like any of us were under that insane illusion. HA

I smell bias.

The only bias I smell is in your post.

The man you are quoting wasn't a spokesman for HSBC he was from the money site Motley Fool.

http://www.fool.co.uk/