What impact will the OFT have?

oldwiring

Chrysalis wrote: »

this hasnt stopped them so far tho, unless the OFT ruled on it I cant assume otherwise.

Please see my earlier post, and, if there is evidence that warning communications have been sent prior to the refund cliam being made, then I question, whether OFT or any other regulatory body would ignore such a communication in their decisions.

I believe sincerely that some have got on a roll, but do not see there may be a cliff not too far away. Claim but take care to operate your accounts properly in the future.

Twinkly

Chrysalis wrote: »

problem is I cant have a 6 month gap.

This and other posts suggest you are really wary of reclaiming your charges. I appreciate you are and I am sorry that you cannot be encouraged by others experiences and action you can take to defend against anything the banks may or may not do in retaliation.

Just out of curiosity, do you really have no alternative at all to using a debit card ? I havent used mine yet, probably wont and cant think of an instance where it would be mandatory for me to do so.

dchurch24

Hi,

After reading Martins article and many of Martins quotes in the papers, I feel the need to clarify:

The OFT announcement will have NO LEGAL GROUNDING - i.e. It will be setting a limit at which they will take legal action (like the last time with the credit cards - i.e. if a bank charged 12 quid or more, then the OFT will take legal action - IT IS NOT A CAP!)

No matter what the OFT come out and say, they CANNOT and do not make laws.

The notion that people only have until the OFT report to reclaim their charges is incorrect.

The law is simple on this matter. No party can profit from anothers breach of contract. If the OFT say that they believe it costs a bank 10 quid, and that they will step in if they charge more then fine. I believe that it costs a lot less than that, and if I am charged 10 quid, I will put it before a judge to decide based upon the evidence that the bank will provide.

The banks already know that the OFT ruling does not make law. There are hundreds of people that have successfully reclaimed over-limit charges from credit card companies since the OFT announcement regarding CC fees. The credit card companies know that it costs less than 12 quid, and do not want to face a judge to try and prove otherwise.

Sorry Martin, but your assertion that people must get their claims in quick is a bit misguided (albeit good natured I'm sure ;-) ), and I think perhaps somewhat dangerous, as it has already *forced* people into legal proceedings where a) it is not needed and b) where they are unprepared.

Twinkly

dchurch24 wrote: »

Sorry Martin, but your assertion that people must get their claims in quick is a bit misguided (albeit good natured I'm sure ;-) ), and I think perhaps somewhat dangerous, as it has already *forced* people into legal proceedings where a) it is not needed and b) where they are unprepared.

Everything else you have posted is a rehash of what Martin has said in the very first post of this thread. It is also what countless others have reiterated time and again to worried claimants throughout the entire forum so it requires no comment. However the part I have quoted from your post has me puzzled. I have looked but can only find this:

"Then why is it CLAIM NOW!

Simple: you've a better chance of getting most/all of your money back with less hassle by acting now. Though it doesn't stop reclaiming, even if you don't do it now."

I cannot see anything dangerous in this statement or how exactly people are being forced into court action prematurely. Have I missed something elsewhere ? Perhaps you could let me know the exact quote. As it is I disagree with you and feel yours is an unwarranted and factually incorrect statement to make.

Edinburghlass_2

To be fair to dchurch24 it was me who merged his thread in with this one before it dropped down the board so while he may be repeating what Martin has already said, its worth repeating!

Sadly there is so much third hand wrong information going around that its very difficult to allay people's fears regarding the coming report from OFT when everyone from their bank to the milkman is telling them that come April its all going to change.

Don't be rushed into making a half claim, do it carefully, read the article and then read it all again. Watch the video, listen to the audio file, use the templates and read as much as you can regarding your particular bank.

And read again Martin's first post in this thread

dj9928

I got a letter in today from one of them companies who reclaim your bank charges for you. It says in bold writing "ACT TODAY, BANKS ARE TRYING TO GET THIS LOOPHOLE CLOSED" is this just a marketing ploy? Or is there truth in it

Edinburghlass_2

There is no loophole, please read the above posts.

mjanet

Twinkly wrote: »

Everything else you have posted is a rehash of what Martin has said in the very first post of this thread. It is also what countless others have reiterated time and again to worried claimants throughout the entire forum so it requires no comment. However the part I have quoted from your post has me puzzled. I have looked but can only find this:

"Then why is it CLAIM NOW!

Simple: you've a better chance of getting most/all of your money back with less hassle by acting now. Though it doesn't stop reclaiming, even if you don't do it now."

I cannot see anything dangerous in this statement or how exactly people are being forced into court action prematurely. Have I missed something elsewhere ? Perhaps you could let me know the exact quote. As it is I disagree with you and feel yours is an unwarranted and factually incorrect statement to make.

LMAO Twinkly I think you should know that it was dchurch24 who was the one who actually started all this reclaiming, who first read up on the legalities of it .He was the one that wrote the original step by step guide for Martin .All what he knows about reclaiming others can only dream about knowing.
I think telling him about reclaiming bank charges is like teaching your grandma to suck eggs

Sadly there is so much third hand wrong information going around that its very difficult to allay people's fears regarding the coming report from OFT when everyone from their bank to the milkman is telling them that come April its all going to change.

EL-I'm a bit lost your saying above and martin is saying ...

''If you’ve had bank charges, reclaim right now, before this is announced, the sooner the better."

techspec

dchurch24 wrote: »

Sorry Martin, but your assertion that people must get their claims in quick is a bit misguided (albeit good natured I'm sure ;-) ), and I think perhaps somewhat dangerous, as it has already *forced* people into legal proceedings where a) it is not needed and b) where they are unprepared.

My friend today claimed just 12 months charges, because he already had them statements, and did not want to wait for the bank to send the rest, in case the OFT spolied things in the meantime.

Twinkly

mjanet wrote: »

LMAO Twinkly I think you should know that it was dchurch24 who was the one who actually started all this reclaiming, who first read up on the legalities of it .He was the one that wrote the original step by step guide for Martin .All what he knows about reclaiming others can only dream about knowing.
I think telling him about reclaiming bank charges is like teaching your grandma to suck eggs

I thank you for the unsolicited information but I completely fail to see any relevance to my post ? I disagreed with a statement he made and its that simple. It should not be regarded as a character assassination or personal attack. I didnt see how Martin can be regarded as 'dangerous' and 'forcing' people into unneccessary action. I still dont.

I believe the 'sucking eggs' remark may be in relation to the post I made in the suggestions for honing the article and templates? If so, the suggestions were asked for by and given to Martin so again, I fail to see any relevance.

The quote shown toward the end of your post only serves to highlight the fact that people are not reading all of his posts and instead are choosing one line here or there to act on. It is shown time and again all over the forum that people just do not read before acting. If people dont read thoroughly, research their options and consider their actions carefully before acting on advice then that is their own choice. It is emphasised time and again that they do so. In consequence, any 'unneccessary action' they are 'forced' to take is their own responsibility.

I can hear my mothers voice as I type this but, you wouldnt put your finger in the fire because so-and-so told you to.