What impact will the OFT have?

hibees1875_2

oldwiring wrote: »

Ok guys, carry on insisiting that your charges are unlawful, even if they are within OFT guidelines.

If the OFT has a problem with a bank that they cannot resolve amicably they have to take them to court - as do we as customers. Banks are also supposed to act as responsible lenders - is it responsible to increase someone's debts by £30 because they go £1 over their agreed overdraft limit??

Also, if someone stole your wallet with £30 in it would that be lawful?? Banks taking money out of people's accounts without forewarning is tantamount to theft. Justifying such charges by sending out a computer generated spit letter that costs less than 40p to produce and post is extortionate. Do you pay £30 for a pint of milk? No. So why should others be pushed over a barrel in the same way and spanked severely. If banks felt they were justified in their charges they would not refund anyone, but given that they are refunding thousands of pounds suggests more than just a gesture of goodwill.

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Feel the burn, keep the faith and eat plenty of cheesecake.

oldwiring

hibees1875, you assume wrongly that I am justifying the level of charges. I am not. What I do see in many of the posts is an intention that the banks should
A). Be unable to make any charge unless their itemised costs are fullly revealed. What business would be willing to do that in a competitive environment?

. Be unable to rid itself of bad accounts. Honestly such accounts would have, with some exceptiions, been bad even without unlwfully high charges.

C). Be unable to recover debts owed on those accounts.

Faced with such attitudes, in no way could I critcise them for taking tougher stances on the accounts they are willing to conduct, or for tougher and earlier action in the event of bad conduct.

robbie1944

Hi
I have recentlry had a success against the Nationwide and had lots of correspondence from them but am now claiming for my wife and Daughter against Nationwide and the HSBC and have noticed that I have received no correspondence from either of them and can only presume this is some sort of delaying action to wait for the oft even though I have given them dates for starting proceedings
bob

phil4321

hibees1875 wrote: »

If banks felt they were justified in their charges they would not refund anyone, but given that they are refunding thousands of pounds suggests more than just a gesture of goodwill.

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Feel the burn, keep the faith and eat plenty of cheesecake.

Totally agree with you m8....Let the bank turn up in court and defend our claims if they are illegal....Hey Oldwiring, why don't you come to court with me...you could defend the bank on their behalf, just incase they don't turn up, as you seem to be adamant that banks are in the right and aren't doing anything illegal....it'd be nice to see the judge throw you out...

oldwiring

phil4321 wrote: »

Totally agree with you m8....Let the bank turn up in court and defend our claims if they are illegal....Hey Oldwiring, why don't you come to court with me...you could defend the bank on their behalf, just incase they don't turn up, as you seem to be adamant that banks are in the right and aren't doing anything illegal....it'd be nice to see the judge throw you out...

Your accusation is utterly unjustified ,but that is because you only read what you want to. In a not much earlier post I wrote

hibees1875, you assume wrongly that I am justifying the level of charges. I am not

krisskross

phil4321 wrote: »

Totally agree with you m8....Let the bank turn up in court and defend our claims if they are illegal....Hey Oldwiring, why don't you come to court with me...you could defend the bank on their behalf, just incase they don't turn up, as you seem to be adamant that banks are in the right and aren't doing anything illegal....it'd be nice to see the judge throw you out...

It truly makes me wonder about the people doing all the shouting about reclaiming bank charges when so many are still unable to distinguish between UNLAWFUL and ILLEGAL.

I maintain that the banks will hit us all where it hurts, so use your windfalls wisely, pay off your debts and ensure you give the bank no opportunity to charge you again.

oldwiring

krisskross wrote: »

It truly makes me wonder about the people doing all the shouting about reclaiming bank charges when so many are still unable to distinguish between UNLAWFUL and ILLEGAL.

I maintain that the banks will hit us all where it hurts, so use your windfalls wisely, pay off your debts and ensure you give the bank no opportunity to charge you again.

I hope the ones hit where it hurts are not the innocent but those, who have been cavalier and expect to get away with it time and time again. TBH with the unreasonable attitude shown by some on this site, they are the ones more deserving of a nasty shock thn the innocents. Not only are they unreasonable but they cannot bear having a contrary opinion to theirs AFAICS.

esmerellda

I agree in some respects and would always encourage people claiming to use their claims to pay of debts...some of which are caused in part by the charges....and use it to get themselves in a position, if at all possible, where they can start over with a new account, organise their remaining debt - if they are having trouble paying to contact people like CCCS and Payplan - and to take the opportunity to get things sorted out - and yes try not to incur future charges. Stop paying everything by direct debit - take control and use standing order / bill payment methods.

phil4321

krisskross wrote: »

It truly makes me wonder about the people doing all the shouting about reclaiming bank charges when so many are still unable to distinguish between UNLAWFUL and ILLEGAL.

I maintain that the banks will hit us all where it hurts, so use your windfalls wisely, pay off your debts and ensure you give the bank no opportunity to charge you again.

http://www.answers.com/unlawful&r=67 I think you need to read this krisskross....
I will be using my money to pay a number of debts off and haven't been charged by my bank in over a year except for one £30 charge last jan for being £8 over my overdraught...

I'm sorry for what i said to you Oldwiring but if you say something which is clearly on the side of the bank, you will provoke others to answer just as strongly on the side of the customers..Only the banks can stop this...The banks need to go to court to set a president...Only this will stop people taking their banks to court and claiming back every penny, while, as you have said, the banks are left to pay the whole bill for us spending too much....the OFT report is only gonna be used as guidelines by the banks really and does not mean the charges are lawful/legal/correct...basing that view on what i've read, heard and what was said in my first reply from my own cc, about how the banks acted when the OFT report came out for cc's....

oldwiring

phil4321. No apologies are needed:beer: as far as I am concerned