How will reclaiming bank charges impact banking discussion

IvanOpinion

How about if we all agree to disagree and wait and see how this all pans out over the next 12-24 months. :beer:

ivan

Nathan_Spleen

alexjohnson wrote: »

I don't have to. I'm not seven in the playground and I don't have to "bet". But on that point - again, not whether you get some payment because the OFT leans on the banks but if you get it specifically because of the common law of penalties arising from breach of contract, I will happily eat a huge slice of humble pie with a side order of hat as and if. Will you?

Frankly,I cannot have a sensible debate with you, it's one contradiction after another. I find it too tiresome to continue.

Smasher

alexjohnson wrote: »

I am of the strong view that if you get the money it will not be because of punitive penalties. And in all the responses I've seen nothing that persuades me otherwise. I remain happy to be persuaded, but you Nathan and you Smasher haven't done so.

How can we persuade you? By posting a random link to some dodgy article somewhere on the net? Still ducking that question eh..

I already got my money back in early 2006 plus compounded interest at the unauthorised rate they had imposed upon me. It doesn't matter if you are persuaded or not, I am convinced and I successfully claimed what was rightfully due to me.
It was very simple. I had an agreement in which they said we will charge you £30 for going overdrawn, this is to cover our administration costs. In bold is actually word for word from my original agreement which I still have in my filing cabinet.
I simply contested the truthfulness of that statement. I gave them plenty of opportunity to demonstrate how these costs could be so high. That would have been my primary objective had they had any conviction in their written defence and come to court.
Assuming that their administration costs could not have amounted to such a ridiculously high figure, only then could we have got onto the issue of whether or not they were penalties or in any way enforceable given that the statements of these terms were untruthful.
Now that is only assuming that they were not telling the truth and their costs were not as much as £30. If they were telling the truth then fair enough, all they would have had to do was prove this in court once and the avalanche of reclaiming would have ceased on the spot. But they chose instead to settle to the tune of hundreds of £millions, plus court costs, plus lawyers fees. Doesn't make much commercial sense to me, but thats the excuse they wrote in my settlement letter.

If their costs were £30 (or up to £39 in some cases) then it would follow that the new "services" (remember these services were only introduced in late 2007 in time for the test case) are being provided at cost price, no profit because the do not differ in any way in terms of cause & action, they are simply re-named. That means that if these charges & services were stopped, anything that happens from here cannot possibly have been affected by it.. Its just good old fashioned logic.

Smasher

IvanOpinion wrote: »

How about if we all agree to disagree and wait and see how this all pans out over the next 12-24 months. :beer:

ivan

Gladly. :beer:

TANZARELLI

IvanOpinion wrote: »

How about if we all agree to disagree and wait and see how this all pans out over the next 12-24 months. :beer:

ivan

Sensible I would say

Mark7799

IvanOpinion wrote: »

How about if we all agree to disagree and wait and see how this all pans out over the next 12-24 months. :beer:

ivan

Hear hear:T

PROLIANT

Hey guy's, isn’t the weather just wonderful today? I am on holiday this week from work, not going anywhere just enjoying the time off, well I see the debate is still going strong, I was wondering when this debate was going to end, war's have started over less, just remember this, we are all different in so many ways and have different opinions, just step back from the keyboard and go out side and enjoy the beautiful weather and come back later refreshed and less angry.

Enjoy

TANZARELLI

I presume you mean UTCCR