Bank Charges case upheld

ricicle86

I have just been reading the last five or so pages of this thread and (other than the handbags) i am think i am right in saying we have a few solicitors on this board (or people with solid legal knowledge). I am currently in my second year of a law degree and as such have not had much practical experience. I was wondering whether those in the know could perhaps offer some case names and judgments that we could all use when drafting and presenting the court bundle and prosecution evidence?

I see Scrudge (sp? sorry if mistake!) has done so. Surely a clearly reasoned, supported argument is much better than a lay person attempting to take on the £100K/annum in house solicitor of the banks (if they turn up)?

Also, how should this recent decision be presented? Would you include it in any prosecution bundle just to highlight the judges reasons for wanting a high, binding ruling (i have not read it yet, sorry!) and to conclude it has no force or just ignore it? Surely it will appear in the defenses case?

Thanks, and keep up the HELPFUL stuff!!

On a side note: i read somewhere, someone saying (:rotfl: ) that if the banks were not so quick to give out credit then these problems would not occur. Absolutely correct!!! My friend went bankrupt for £52K last year, six months down the line he has kept his £800pcm house and now has a £1k limit on a barclaycard (whom he owed the £52K) ... the logic here? there is none! Tighter controls on lending would help!!

stoneman

Wow, one bank gets a win and loads of you guys are running scared:eek:
See, you are great at having a go when you think it's a done deal with no risk, but the first sign of it not all going your way, and you start shaking in your boots. Christ, you could almost smell the money in your nostrils couldn't you, tough luck. I hope we get more common sense from judges now, and see it for what it is, people just trying it on. See, if we play this out all the way, no contract will be worth the paper it's written on. YOU KNEW THE TERMS AND CHARGES WHEN YOU SIGNED UP, they weren't hidden in the fine print. Now because of all you Charlies jumping on the bandwagon, all of our bank interest fees will go up, and the banks will start charging to service the simplest of accounts.
I have been overdrawn in the past, but I knew what would happen and took my punishment, you should to. Stop bleating on, and join the real world. But why should you, you are moneysaving experts. Ha!

Moglex

stoneman wrote: »

Wow, one bank gets a win and loads of you guys are running scared:eek:
See, you are great at having a go when you think it's a done deal with no risk, but the first sign of it not all going your way, and you start shaking in your boots. Christ, you could almost smell the money in your nostrils couldn't you, tough luck. I hope we get more common sense from judges now, and see it for what it is, people just trying it on. See, if we play this out all the way, no contract will be worth the paper it's written on. YOU KNEW THE TERMS AND CHARGES WHEN YOU SIGNED UP,

What the HELL are you talking about.

When you haven't a clue, it's best not to embarrass yourself by posting gibberish.

I 'signed up' with my bank over 30 years ago and there was NOTHING in the t & c's about these charges.

Indeed, for many, many, years they did not charge any. You would simply get a letter telling you that you had gone overdrawn.

Further, if people are just 'trying it on' as you say, why on earth have the banks paid out millions of pounds.

Banks love their money and the only possible explanation for their preparedness to pay out is because a great many extremely expensive specialist lawyers have told them that they will almost certainly lose when a case eventually come before the higher appellant courts.

The people who have given them this advice will be the countries top experts on contract and banking law and will have a far better idea of the intricacies involved than a lower court judge who will be handling a whole plethora of cases.


So, stoneman, REALITY CHECK: The banks are paying out millions because the best legal brains available are telling them that it's cheaper for them to keep paying out and hoping most people will never claim and some of those who do will fall by the wayside than risk the case coming before a competent appellant court and having a precedent set.

Moglex

stoneman wrote: »

I have been overdrawn in the past, but I knew what would happen and took my punishment, you should to. Stop bleating on, and join the real world.

More fool you. :rolleyes:

It may have escaped your notice but people are not 'bleating on', they are taking the banks to the cleaners for millions of pounds.

aj147

Can someone help? We are about to start this process, after today, is it worth it?

I've read about Lloyds winning a case. Does that spell the end? Have we left it too late?

Depressed in Cardiff...!

attheraces

Obviously this squeaky clean know all thinks all of us are out of his league...

Well, maybe he should defend the banks then... I'm sure banks pay millions for top notch lawers to tell them it is illegal and unfair.

BANKS PLEASE TAKE NOTE....... STOP PRESS:

HSBC, LLOYDS, RBS, HBOS etc... 0800 'I KNOW ALL' is just round the corner.

Just to let you know, it is obviously unfair to justify these ridiculously high charges, that is why credit card companies are in the process of reducing there charging system... I have claimed over £2400 from my bank and credit card companies spanning 6 years, others have done the same... They don't tend to pay if they are wrong, but, who am I to argue. You know best of course...

Camdenite

Not at all. It sounds like Lloyds TSB got lucky in that someone hadn't prepared thoroughly enough and the judge for once decided to cross examine them and he could not see beyond the banks stance that they are "Service Charges". There's no reason to believe that this will change the opinion of any other judges as it was not in the High Court.

I'd recommend reading Martin's blog on this as that is the best summary by far.

Carry on Claiming, as far as everyone here is concerned.

pfhowe

I've just started this process and I'm not put off by this judgement. I have letters from my bank referring to "charges" not service fees, which is what the bank that won their case claimed they had charged their client. As far as I'm concerned the default charges my bank have charged me are indeed penalty charges.

This is a legal process and if your case does go to court, you have to be prepared to argue your case. You MUST be prepared - do NOT go to court assuming that the judge is going to rule in your favour without question.

If you don't have the confidence to argue your case in front of a judge, you may be better off seeking legal advice, assuming the value of your claim justifies the potential risk. There is always the risk that you may not win!

monkey123_3

OH MY GOODNESS it is so refreshing to find someone with common sense - i completely agree with wise investor on evry point that I read - and too for anyone else who is in favour of the banks and is happy that LTSB won! The only thing I will say is that yes, some charges are a bit ridiculous like £30 for going overdrawn by £2, but there is absaloutley no justification for those who are saying they mounted thousands over years. At the end of the day if a mistake happens, your direct debits bounce, u mount a few hundred MAX in charges, the bank usually helps you clear them over a few months, you use your BRAIN and cancel your direct debits etc to stop it gettin any worse while you clear it up... BUT NO it appears to be too complex to do things this way, it requires a little something called common sense and responsibility.

Come on all you banks, I want them to win more and show people that they need to take some responsibility for themselves - people get away with murder in this country these days. Would you mug a person in the street for £500 and think you can't possibley be punished? But it;s ok to spend £500 on your debit card that takes you unathorised overdrawn and then HOW dare the bank charge you for taking THIER money! the mentality of these people is absaloutly shocking...and it;'s all thanks to the BBC right? them and thier whistelblowing programmes! and then all these people jump on it without even knowing what they are actually disputing let alone how to go about it, they are just seeing pound signs...

i actually posted on another site similar to this and i got SLATED ROYALLY for daring to oppose the majority... ha.
the only people i want to get refunds are those who have been in unfortuanlet situations such as family / job/ health related crisis that have turned everything upside down for them. and anything that is a bank error. everything else is entirely the account holders responsiblity and is entirely preventable by the account holder. and the majority of charge cases I estimate fall into the latter category.

its capitalism, its banking, its business.....deal with it... it doesn't cost £1.20 to make a loaf of bread...but thats what you pay... lets all calculate how many loaves we have been overcharged on...

just be thankful we are not in denmark - you go overdrawn there, now THAT is illegal - the police come knocking... and you;re all whining and moaning about charges...

Moglex

monkey123 wrote: »

... and you;re all whining and moaning about charges...

Hello, monkey123 and welcome to the forums. I see the above was your first post.

Just a point: People are not whining and moaning about charges, they are telling the banks that they want the money they stole from them in illegal charges returned, and the banks are rolling over and paying out millions of pounds.