Alliance & Leicester (merged)

steveh66_2

Hi everyone

well, the recent developments have effectively convinced me to do something I swore I wouldn't and accept a partial full and final settlement from Alliance and Leicester. I had a claim for £694 (minus interest) which I was just about to submit to the FOS when the news of the test case - and more importantly, the stay on claims - broke. I'd already received the partial offer referred to above (based on a deduction of £12 per charge) and declined it, but I think we now need to consider the following:

1. For those of us who need the money, is it better to accept a lower amount now, rather than hang on until all's done and dusted? While I don't think this will take several years, I wouldn't be surprised if it takes around one year. That's a hell of a wait. On top of that, there's likely to be one massive backlog at the end of this, which will stretch things on further.

2. At the end of it, if the banks with their muscle get their way, and I strongly suspect they will, you may end up with absolutely nothing.

3. Or more likely, the judgement may be that an amount on par with credit card charges is acceptable, in which case you'll end up with virtually the same low offer (barring a small amount of interest for most of us), but after a potentially BIG delay. OR, if the decision is that a charge of greater than £12 is acceptable, you may get an offer for even less.

Time to weigh up the options here, I think - as Martin's stressed time and time again, we need to sensibly consider all options rather than just go for the max, despite it being legally our money, of course. One thing to take as some consolation, I think - if they win, the banks will have forced things their way for the time being (even if the ruling goes in their favour, I suspect most people will see this as a revision of the law in their favour, driven by big business, which it will be), but in the longer run they've utterly destroyed the so called 'banking relationship' and devastated any pretence of being trustworthy. One day, that will hurt.

lindens

I always swore i would fight to the bitter end but in both cases i accepted slightly under rather than wait and risk losing the lot. I accepted £1800 against £2100 with Natwest and £1127 against £1650 with Barclays.
As you said everyone's circumstances are different and whilst the difference in both of the above is alot of money to me, it wasn't enough to risk the lot!

Nadirish

Do you think or know if they will close oour accounts once we received our settlements?? x

MimiJane

I haven't heard of them closing accounts in a while now (though that doesn't mean they're not doing it), but I do think there's more pressure on them not to do so now.

I'm claiming for my SIL and she closed her's down a while ago in the middle of the claim. In view of various things that have happened since, I'm glad she did.

Mimi

JulieCP_2

Hi all,

I am due in the small claims court next Tuesday against Alliance and Leicester. I am claiming almost £600 and in June received a cheque from them for £144. I sent it back. I then got a letter from their solicitor in Belfast asking me to contact him on 19 June. I didn't do this as I didn't want to be bullied down the phone. No more word since. Do you think I should hold out untiil court next Tuesday or phone the solicitor before then?
Help!!

MimiJane

JulieCP wrote: »

Hi all,

I am due in the small claims court next Tuesday against Alliance and Leicester. I am claiming almost £600 and in June received a cheque from them for £144. I sent it back. I then got a letter from their solicitor in Belfast asking me to contact him on 19 June. I didn't do this as I didn't want to be bullied down the phone. No more word since. Do you think I should hold out untiil court next Tuesday or phone the solicitor before then?
Help!!

I'd hold out ... you'll either get a letter offering settlement in full near the date, or a little "Wragge man" will be rushing round the court foyer trying to settle with everyone before they go into court! They DON'T want to go to court and you will get your money. Not long to wait now

scottjack

I've not had a court date assigned yet, although Wragge and Co have filed a defence I've just had an offer for roughly half of what I was claiming (Claiming just over £600, been offered £300 plus court fee back).

Probably going to have to accept now rather than wait a year after this test case stuff.

What do people reckon? A decent outcome but not what I was after.

biffbiff

Nadirish wrote: »

Hi All, i know i posted in this thread yesterday and some where awaiting on the outcome of my preliminary hearing. I had my hearing this morning against A&L, the bank did not turn up to defend and the judge was lovely, he even worked out extra interest i was entitled to as i had only calculated up until the date i filed my claim in April. He ordered that A& L should pay me the full sum within 14 days. The judge was lovely, i was nervous about any questions he may ask as i didn't know what to expect, but i didn't have to answer anything, i don't think he was too happy at the bank wasting his time. He did ask though if i had been in touch with a&L and i told him i had tried to negotiate with their solicitors but they told my their client did not wish to settle.Don't give up and let recent media cover put you off, i was so nervous last night and this morning but it was all worth it in the end, (well i will be waiting to get that cheque before i really celebrate - they have 14 days in which to pay my the full amount claimed, which is just short of £3.5k)Thanks for all the support on this site xx

That has made my day hearing that some of the courts and letters are still going on, I have to go to Court on Sept I have had my hearing so this is my second time at court, I thought every thing was suppended so I am keeping my fingers crossed this site has been great for me 10/10 :money: :money: :money:

staceydee

:mad: :mad: :mad:

Ok,

I have sent my 1st letter to A&L and recieved a response dated 25th July?? Stating blah blah blah and also stating that

"the oft had commmented that they consider the level of late payment fees to be unfair, however, they were actually referring to late paymen fees for credit card payments, which are quite distinct from a bank's fees on current accounts?????"

Not sure if anyone else has had this comment on their letter

Therefore what I would like to know is - as A&L aren't on the list of banks in the test case do I still pursue and send the 2nd letter or will they have suspended my case???:mad: :mad: (Bearing in mind the letter they have sent was on on 25th july)

Please help!!!:eek:

MimiJane

scottjack wrote: »

I've not had a court date assigned yet, although Wragge and Co have filed a defence I've just had an offer for roughly half of what I was claiming (Claiming just over £600, been offered £300 plus court fee back).

Probably going to have to accept now rather than wait a year after this test case stuff.

What do people reckon? A decent outcome but not what I was after.

People are being advised to continue until otherwise directed by the courts. A&L are not one of the "major" banks in the test case, so we don't know the full situation yet. If you can hold out (how long for we just don't know), I would say you'll get the full amount eventually.