What impact will the OFT have?

wok_boy

ginger_spice wrote: »

I would like to know that too, does it mean we cant start any claims against the banks, my daughters been on at me for ages to claim my charges back as they are whats making my account OD each month, its hard to manage my disability money when bank is taking £90 a month.

The OFT ruling will not stop you starting any claims against the banks.

I'm starting my claims against Barclays and Natwest today.

Twinkly

ginger_spice wrote: »

I would like to know that too, does it mean we cant start any claims against the banks, my daughters been on at me for ages to claim my charges back as they are whats making my account OD each month, its hard to manage my disability money when bank is taking £90 a month.

Bit off topic but I had to post this for you. £90 a month is a disgrace.

There is a template for a letter you can send to the bank about your benefits.

here: http://www.consumeractiongroup.co.uk/forum/general-debt/36790-bank-taking-your-benefits.html

It must be amended to suit the name of your benefit and sent in each time there is a payment due in to stop them taking anything from it but that it worth the hassle to stop them.

According to:

Social Security Administration Act 1992
Miscellaneous
Certain benefit to be inalienable **

187- Subject to the provisions of this Act, every assignment of, or charge on-
(a)benefit as defined in section 122 of the Contributions and Benefits Act;
(b)any income-related benefit; or
(c)child benefit,
and every agreement to assign or charge such benefit shall be void; and, on the bancrupcy of the beneficiary, such benefit shall not pass to any trustee or other person acting on behalf of his creditors

They are breaking the law doing this so you must inform them that the money is social security benefit (like they dont know already).

Yes you can reclaim your charges, follow the templates and timescales and ask for any help you need in the forum. Best of luck to you

tintinlostsnowy

hi new here does this mean you can reclaim credit card charges as well ie i was in bosnia for 4 years and my money kept getting paid in after the due date so i got bank charges and credit card charges and am in the middle of claiming the bank charges any help would be appreciated

Twinkly

tintinlostsnowy wrote: »

hi new here does this mean you can reclaim credit card charges as well ie i was in bosnia for 4 years and my money kept getting paid in after the due date so i got bank charges and credit card charges and am in the middle of claiming the bank charges any help would be appreciated

Yes you can just amend the template letters for the appropriate charges and good luck

hibees1875_2

why pay more by paying standing orders rather than direct debits? simply contact the people you need to pay and get the dates changed to tie in with when you have money coming in from wage/ benefits and thus pay within the agreed time and also still be in control of your bills without having to pay more.

Also, i don't believe the OFT should affect claims as it hasn't done for credit card claims. I claimed against my credit card company and at first they cited OFT charges and were willing to pay the difference, however by sticking to my guns i claimed 100% charges. Don't be intimidated and remember that the OFT have no legal power in a court of law. They are simply advisory and voluntary regulatary body. They are likely to strike a middle ground deal with banks that will ensure they can still charge some fee's but this does not make it right and does not make the way they take the money right, fair or reasonable. The OFT can't change contract law!

Sure it will be interesting to see what they eventually say, but that doesn't mean that we (or the banks!) have to stick to it as de facto.

Anyone who hasn't claimed, do so now, not because of the OFT ruling, but because you deserve your money back asap!

jetcat

jetcat wrote: »

hi all, just a quick query. if the oft's decision has an impact on the amount that people can claim back, as i am only half way through the process (about to send off 'second 14 day to reply letter') can i claim all the money back on the basis that they were taken from income support (my only other income is disability benefits and child benefit)? hope that makes sense!

sorry to ask same question, but am preparing second letter for posting on monday. should i stick with template (nationwide havent responded to first letter asking for refund), and need to know should i ask for money back due to charges being took from benefits? i really dont want to have to use MCOL, as although i realise could get court fee back, it is still a pull out in the first place. if i stand a better chance of getting refund following the benefit route, should i add that to the letter template?

all advice greatly welcome

kennyh_2

Two points.
First - I really hope that the OFT report becomes quoted by the opposition so far as bank/credit card charges are concerned. Because
a. It holds no weight in law and b. the opposition have consistently argued that the OFT statement on ERC claims holds 'no weight in law'; wouldn't it be nice to point this degree of hypocricy to the judge?
Second point; and I'm NOT about to start Martin bashing BUT I do wish he'd be a little more careful. A recent Jeremy Vine session threw up - Vine " Martin will be discussing bank charges which are, of course, ILLEGAL"!!
Martin "Yes". I'm sure Martin keeps copies of his broadcasts which he can check - this type of affirmation to the untutored is likely to cost some poor soul.

Twinkly

kennyh wrote: »

Second point; and I'm NOT about to start Martin bashing BUT I do wish he'd be a little more careful. A recent Jeremy Vine session threw up - Vine " Martin will be discussing bank charges which are, of course, ILLEGAL"!!
Martin "Yes". I'm sure Martin keeps copies of his broadcasts which he can check - this type of affirmation to the untutored is likely to cost some poor soul.

Not sure what your point is there or how that is going 'cost' anyone ?

MSE_Martin

Sorry I'm confused - did I say the word "illegal" if so I'm surprised as I try to be careful to avoid it - though in live broadcasting in the heat of the moment its always possible?

Or are you saying it was written in a trail for me - in which case - i have as much to do with it as I do writing the Queens speech.

All the best

Martin

Twinkly

MSE_Martin wrote: »

Sorry I'm confused - did I say the word "illegal" if so I'm surprised as I try to be careful to avoid it - though in live broadcasting in the heat of the moment its always possible?

Or are you saying it was written in a trail for me - in which case - i have as much to do with it as I do writing the Queens speech.

All the best

Martin

Its just as well She didnt end up having a horrible anus really.