OFT and Banks to decide on "fair charge"

nickmack

andy01 wrote: »

Ive just spoken to my local county court where my case is being heard, and have been told to their knowledge my case is still being heard

This seems to be the case. There is not a 'freeze' on all cases in the court route, just a waiver which the banks can apply for which means they do not have to investigate your request.

As per the OFT Q&A:

"It will be for the courts to decide in relation to claims made to them."

However, I guess all cases that are currently at the court stage or any new cases will be stayed pending the test case.

playman

what can we do to pressure FSA?

clearly they have stopped claims, but did not stop the charges -can we somehow enforce this?

jm_ah01

steveh66 wrote: »

This news is completely out of the blue; unbelievable that MSE and CAG, to name but two consumer groups, weren't informed of this with due notice. I've just sent off my allocation fee of £100 for a claim of 3500 against HSBC, AND my FOS letter for nigh on £800 against Alliance and Leicester. Indeed, the latter offered me a partial payment based on a £12 compromise and I refused; they then replied WITHIN TWO DAYS saying that was their final offer, and I could take it to FOS if I wanted to. Folks, call me cynical, but this stinks; the banks have obviously known for some time that this was coming and have played their hand to suit. I'm gutted, and cheated. At the very least, this will result in a compromise fee, which will dramatically reduce our claims. At the worst, the banks with their limitless financial and legal resources will manipulate this to their total advantage. I can't help but think that this is bye bye to £4400, bloody nearly five grand.

I am in exactly the same situation as yourself. The banks will use all their money to intimidate, persuade and manipulate the court systems and government and win this test case! The consumer has lost again

Beate

The test case had to come sooner or later. Both the courts and the FO are completeley overwhelmed by the thousands of bank charges cases and have probably been doing nothing else for the past months. Haven't so many of us taken banks to court and won because the last thing they want is to reveal their true costs? Seems they will have to now and that can only be a good thing. Lots of judges do not like the banks' bullying and delaying tactics at all and have even awarded compensation to some claimants. I think we should keep our spirits high and believe that the judges come to a fair conclusion, which set bank charges at the true administrative cost for everyone so that no one in future will ever lose that much money again.

I agree of course that at the same time that all cases are put on hold, all bank charges to customers should be put on hold as well. And why this decision was made so suddently and without informing any of the consumer sites is anyone's guess. They probably knew what an outcry they would provoke by suspending all cases out of the blue.

nickmack

playman wrote: »

what can we do to pressure FSA?

clearly they have stopped claims, but did not stop the charges -can we somehow enforce this?

Not sure, the agreement for action between the OFT and the banks has already been drafted.

It's disappointing that they didn't freeze charges as well, it seems a bit one sided, but it could have been a condition of the banks coming to the table.

As I said before, it gives the banks breathing space for a while, which means a temporary advantage for them as they keep charging. Hopefully though the test case will result in the best possible result i.e. banks being forced to repay all charges without consumers needing to ask.

droppy

i have just spoken to hull country court to see what was happening with my claim due to last nights news and they told me that it is still going through and will not stayed due to the banks and the oft going to court

good news

HAVEFAITH

In rage mode this morning:mad: .... not good for the old ticker!

I have 10 claims (3 myself and others family) with banks and Credit Card companies outstanding. Some with offers made but rejected. Others with LBA (letter before action) .... so quite a way down the line.

Questions:

1) Where do we stand with outstanding issues?
2) Do banks still have to honour their offers made

Also I read in the Daily Mail this morning (financial editor comment section) that this whole case process COULD TAKE 2 YEARS TO SORT!

Comments welcome, thanks

nickmack

droppy wrote: »

i have just spoken to hull country court to see what was happening with my claim due to last nights news and they told me that it is still going through and will not stayed due to the banks and the oft going to court

good news

Sounds good if that's their official line, the OFT did say courts could still decide whether to continue with claims.

Hopefully the judge won't change their mind and stay cases for a quiet life!

irnbru1970

I just got off the phone from the bank helpline and I am furious :mad:

All bank charge complaints are put on hold for at least 12 months! This was the statement released to all staff for the BHoS. The woman was very apologetic and I couldnt be angry with her as she was only doing her job - she also stated that this would probably apply to all banks involved within the court case.

I feel sorry for my colleagues at work for my resultant bad mood

chipbeck

I could apply for judgement yesterday.

It changed to being hel barcalys defended

Now it looks like I ain't getting it at all

another £120 bites the dust

sorry