What impact will the OFT have?

HariboJunkie

Can't we please just stay on topic.

This whole process seems easier for some than others. I myself have been thoroughly confused from the beginning (Scottish Claims) :rolleyes:

As others have said MSE and CAG meet different needs and I use them both. I rely heavily on picking other peoples' brains on here in a vain attempt to stay calm and get my money back. I am extremely grateful for all the good advice I have been given and to Martin for this incredible site and the hours he puts into it. :A Discussions like these don't help anyone and I for one need all the help i can get.:o

Rant over.

Haribo

feedering

Currently many banks are willing to settle for the full amount. After the OFT announces it is likely they will be more willing to settle for roughly half the amount and more likely to force people to go to Court for the full amount.

There is no basis to make this statement. Banks do not want to go to court for several reasons
1. If a bank goes to court this issue will be decided once and for all when a Judge will rule that their charges are excessive.
2. The bad publicity is more damaging to the bank then the actual loss of money.
3. The charges are a penalty and the banks know this.

So it's my aim to try and get people the full amount and if possible do this without needing to go to court - which is infinitely preferable for most people in my view.

Agreed this is the aim of all sites involved in reclaiming these unlawful penalty charges.

esmerellda

I think Martins point is the banks will use the OFT findings in their letters to use, and will push us all the way to the court steps before giving in and ettling in full, doing this they will scare a lot more people into settling earlier....also the longer they can make claims draw out the more chance there is of the claimant making a mistake due to mis - or lack of - information regarding court directions/procedures and protocols.

Most people won't have to go to court at all still, but I expect the banks will allow a lot more claims to go to allocation / prelim / case management hearings - solely to use the fear of court to get lower settlements.

Anyone in this posiiton - COURT IS NOT THAT BAD HONEST !

If this does start happening more after April we should seriously start requesting defence strike out orders at allocation questionnaire time - to follow the abuse of process orders set out by Lincoln County Court, and a couple others now....

feedering

esmerellda wrote: »

I think Martins point is the banks will use the OFT findings in their letters to use, and will push us all the way to the court steps before giving in and ettling in full, doing this they will scare a lot more people into settling earlier....also the longer they can make claims draw out the more chance there is of the claimant making a mistake due to mis - or lack of - information regarding court directions/procedures and protocols.

Martin has already done half the job for the banks by advising people to negotiate a settlement. Owed £3k they offer £2k ask for £2.6k.

I agree people dont want to go to court, but the chances are very very slim indeed.

dchurch24

The only reason I posted the bit about the OFT announcement was because we are getting a LOT of people coming over to the CAG and rushing into things (like starting court proceedings without even contacting their bank, particulars of claims going to court such as "want money back" and subsiquently being thrown out etc...), and stating the reason for rushing as "MSE told me I couldn't claim my money back after the OFT announcement."

So I thought I would come and post a little reminder that this isn't true.

I didn't mean to start a CAG/MSE/PenaltyCharges/BCH competition.

I just wanted people to get it right first time. Some of these people have had their claims thrown out of court, and at potentially as much as £250 a pop at stake to lose, it's a big deal to most people.

Twinkly

dchurch24 wrote: »

The only reason I posted the bit about the OFT announcement was because we are getting a LOT of people coming over to the CAG and rushing into things (like starting court proceedings without even contacting their bank, particulars of claims going to court such as "want money back" and subsiquently being thrown out etc...), and stating the reason for rushing as "MSE told me I couldn't claim my money back after the OFT announcement."

So I thought I would come and post a little reminder that this isn't true.

I didn't mean to start a CAG/MSE/PenaltyCharges/BCH competition.

I just wanted people to get it right first time. Some of these people have had their claims thrown out of court, and at potentially as much as £250 a pop at stake to lose, it's a big deal to most people.

Which all goes to show that people just dont read information even when its pushed right under their nose repeatedly *sigh*. We are all responsible for our own actions but unfortunately not everyone accepts that responsibility.

Fortunately both MSE and CAG have excellent advisors to keep reiterating the same information for those that need it and continue to do so. There are other sources of information too but the forums on MSE and CAG provide the platform for discussion.
The OFT report has whacked the hive but the initial premise remains the same. You can reclaim unfair bank charges. Information on the process is constantly changeing and being updated. If you dont understand the information clearly given, ask a question. If you havent read it in the first place then go back and do so then ask if there is anything else you need to know or dont understand. When you get an answer to your question get a second or third opinion and make an informed choice as to your next action.

You cannot mess about when dealing with law and courts and must research it thoroughly. Somehow that message isnt getting through and I have no idea why given the wealth of information available.

MSE_Martin

Thanks Dave

I couldn't agree more. Its a shame people have read 'start the process' as 'go to court' that's never been said or meant. My aim has always been to get people starting on the track sooner (ie sending the first letter).

Nice to see you on here.

Martin

PS As for the seperate from Feedering note about about going to court - let me clarify as it seems to be willfully misread at times. My point is "you are more likely to need to start the court process" not "more likely it will be decided by a judge." This is a very scary prospect for many - and while militancy is useful, a practical approach to getting people doing this in the first place is too. Its too easy to scare people away with an overly militant attitude.

woopsy

I had to raise a court claim to get any money at all back from Yorkshire Bank, but got the lot plus statutory interest at 8%. They offered me nothing from writing letters. I felt I really deserved to get the interest, because the bank put me and my family in an awful situation, and I once I realised the money had been taken from us unlawfully, I didn't see why the bank should keep any of it.

I used MCOL (money claim on line) to issue the claim, and the MCOL site was really useful with clear guides on the court process. I took my allocation questionnaire into the court office. I was really worried about going into the court office because I'd never had anything to do with courts and the law before, but the staff were really friendly and helpful.

It's funny, but I didn't see myself as being militant by doing that. I read that the small claims court was started so that members of the public could easily get money owed them, without the need for solicitors etc. I don't think any of the banks have actually gone to court over this, but I also heard that even if that happened, the judge has to make sure you understand what is happening.

I did spend quite a bit of time reading up on CAG and getting to understand the legal bits, but I got over 4,000.00 by doing this, so it was well worth it. I used CAG to do my research because MSE just had Daves article at the time, so MSE did set me off to begin with, but I followed the CAG (BAG at the time) process.

I agree that Martin has raised awareness of CAG and continues to suggest that more difficult issues are dealt with there. The trouble is, that if they start to go wrong using one method, it's not so easy to put right using a different method. The CAG methods have worked for over a year now so are thoroughly tried and tested, so personally I would stick with them, but I'm sure there is more than one way to skin a cat.

I'd like to add that I think that CAG raised awareness of MSE too because Martins banner was on the website for a very long time, so I guess that really the publicity has been given in both directions.

Often on CAG there is a lot of discussion about the best way of doing some claims and it can get quite heated, but it rarely gets taken personally. We are all trying to achieve the same thing, but CAG seems to believe in making sure you get everything you're entitled to, even if it may take a bit longer. Eventually Yorkshire Bank offered most of my charges back, but I needed all of it, and wasn't prepared to let them fob me off with less. I also felt a duty to other people in my position, because the more they get away with people accepting less than the full amount, the more they will try to wriggle out of their responsibilites. It's just not right that they should keep any of it.

Having been a victim of the banks for years, I admit that I would rather make sure that I get back all that I can. At the end of the day I need it to pay back the debts that I have, largely due to the banks helping themselves to our hard earned money.

When I started my claims the letters back talked about the OFT report on credit cards, but to me, I thought they were just trying to put me off. The letters said quite a lot of things to try and put me off, but finally I knew that I had right on my side. Whatever the OFT say I think people will be able to claim for a long time to come. We'll all know soon anyway.

ukmonkey

nickmack wrote: »

I should thank you for your appraisal of my debating, shall I press the button?

I couldn't give a toss to be honest!

ukmonkey

MSE_Martin wrote: »

Thanks Dave

I couldn't agree more. Its a shame people have read 'start the process' as 'go to court' that's never been said or meant. My aim has always been to get people starting on the track sooner (ie sending the first letter).

Nice to see you on here.

Martin

PS As for the seperate from Feedering note about about going to court - let me clarify as it seems to be willfully misread at times. My point is "you are more likely to need to start the court process" not "more likely it will be decided by a judge." This is a very scary prospect for many - and while militancy is useful, a practical approach to getting people doing this in the first place is too. Its too easy to scare people away with an overly militant attitude.

Hey Martin,

Starting the court process isn't a bad thing you (not that you're saying it is before you jump straight onto the defensive) how many bank accounts pay 8% interest? hehehe! :rotfl: :rotfl: :rotfl: