OFT and Banks to decide on "fair charge"

Bring_it_on_2

I have a court date for 2 banks on 20th August.

My court bundle is due in by 1st August

Now that the test case involving OFT has been agreed, I don't no where i stand

Should I continue??????????

Thanx in advance


Andy

MadFish_2

Can anyone inform me and, im sure hundreds of thousands of other people, where we stand right now......
As of today banks are suspending pending requests for refunds until the court case is over does this mean if you are still overdrawn and incuring the penalty charges i can ask my bank (Lloyds TSB) to stop charging me or even freeze my account until the case is closed???????????

PI_Guy

its my understanding that you should continue. in any case this test case involves unfair overdraft charges not anything else. So credit cards etc can continue

goffins

Bad news:-(

Can anyone help on this:-
"However, the banks will still need to make a note of any claims lodged, and will have to honour offers to settle claims that were made before the test case and waiver were announced."

I have had an offer and that's as far as we have got, does that mean I can still accept as now I'm willing to settle, to avoid the undoubtedly shady future ruling.

wookie_57

i've just sent off for my statements and now this, its a conspircy but after watching channel 4 news, they were just mentioning unathorised overdraft charges, is bounced cheque charges include in this?

skintscouser

moped_mark wrote: »

Is it me, or did Martin Lewis just kick @rse on channel 4 news?

he sure did! the whole thing stinks to high heaven!!! well said martin:money:

rebel_2

http://www.oft.gov.uk/news/press/2007/106-07

Tootie_Fruity

I think that Martin said that if the charges were deemed unlawful and the banks had to refund all charges, without request from the customer, the amount refunded would total £10,000,000,000. The banks will fight that tooth and nail.

MadFish_2

I dont see how the banks can fight if consumers win surely they are expected to honour repayments whatever the cost......

Tootie_Fruity

MadFish wrote: »

I dont see how the banks can fight if consumers win surely they are expected to honour repayments whatever the cost......

Isn't that the whole point of the case ?