Bank Charges Test Case Article discussion

AndyJJ172

mikevans1 wrote: »

so this means thats its going to be another 2-3 years before anyone gets any payback

I certainly hope not! Both Gordon Brown & David Cameron have asked for a quick(er) resolution to the case and I believe the banks have even already been asked what procedures they would take should the case be ruled in the consumers' favour, suggesting it probably will.

natweststaffmember

AndyJJ172 wrote: »

I certainly hope not! Both Gordon Brown & David Cameron have asked for a quick(er) resolution to the case and I believe the banks have even already been asked what procedures they would take should the case be ruled in the consumers' favour, suggesting it probably will.

Yes but they have talked about once the legal issues are resolved. They won't be quite yet/

natweststaffmember

bagpuss27 wrote: »

Has anyone reading had any luck with asking for a quick settlement of less than the amount originally cited in their letters, in particular from Abbey, since the case started?

It is a strategy that is doomed to failure. In fact, I would never ever try that sort of strategy.

bagpuss27

I'll give it a miss then........

themightytorres

hi
need some advice on the situation with the bank charges.....i've been reading the various forums on this topic and basically i'm abit confused.Can i still start the balll rolling with a claim,how fair back can u claim,i've read tht its 6 years ,8 years or even into late 90's....which is the right one...and will the bank close my account once i start with a claim,its a worry as i only have this account....please say me from anymore reading and re-reading its giving me a headache....lol...thanks in advance for anyone who helps....

natweststaffmember

themightytorres wrote: »

hi
need some advice on the situation with the bank charges.....i've been reading the various forums on this topic and basically i'm abit confused.Can i still start the balll rolling with a claim,how fair back can u claim,i've read tht its 6 years ,8 years or even into late 90's....which is the right one...and will the bank close my account once i start with a claim,its a worry as i only have this account....please say me from anymore reading and re-reading its giving me a headache....lol...thanks in advance for anyone who helps....

This is the big headache for me. Under the Unfair Terms in Consumer Contracts Regulations 1999 a term that is unfair is unenforceable in its entirety or void so technically all charges can be reclaimed. The UTCCR 1999 enacted an EU regulation which was going back to 1995.
However, if it is unenforceable it will be up to a UK judge to decide how far back. Worst case scenario for the banks is 1995 and best case scenario is the FSA Waiver on Bank Charges which is July 2001. Furthermore, there is an argument that the banks should pay restitutionary damages ie not just interest but compensation based on what they did with the profits of bank charges(again this will be for secondary litigation).
At the moment, I am advising July 2001 since that is the date currently where banks have to look at bank charges under financial hardship but that doesn't mean you cannot go back to 1995.

themightytorres

thanks for tht ....so my first step is to contact my bank....i bank with the yorkshire bank...do i contact my local branch or their head office...:beer:

natweststaffmember

themightytorres wrote: »

thanks for tht ....so my first step is to contact my bank....i bank with the yorkshire bank...do i contact my local branch or their head office...:beer:

Have you got their list of charges yet?
If not then head office.

themightytorres

I haven't got the list of charges yet,not sure of the address for the head office,also do i send the £10 cheque,do u know where i can find the address for the head office for the yorkshire bank....

natweststaffmember

Yorkshire Bank Plc
20 Merrion Way
Leeds
LS2 8NZ