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Bank Charges OFT Test Case Discussion
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Hi All,
Was wondering if anyone could offer any advice! My boyfriend has been reclaiming unfair bank charges from HSBC, they responded with a letter stating that they are waiting until the court case has ended before paying out. Unfortunately since then, they have handed his debt over to a debt collection agency called Wescott. As HSBC are refusing to act until the court case is over, should we also have the right to wait and find out whats going on first before paying the debt to Wescott, or do we need to start paying back?
Thanks for reading!0 -
Martin has given us a lot of information in the main articles but one question is left in my mind. Once the test case is over, will the waiver which is helping banks to avoid dealing with applications be lifted? or will it remain in place indefinitely until such time as the courts decide it is being misused or the whole legal battle reaches its conclusion (hopefully sooner rather than several years from now).
Unfortunately the article didn't explain what the expected procedure for the waivers is likely to be.I Reject your reality and substitute my own.
When life gives you lemons, throw em back and say you want CASH instead!
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I Read in the Manchester Evening News this morning that a barristers for the banks stated in court that " Customers had agreed to the fees laid out in plain english".
I, and I pressume every one else in this country has no real choice in not accepting the fees laid down, as it is all their T&C are preformatted, and non negotiable and general to every one, not individually laid out. so its either what they say or not at all..
I wounder if this argument will be stated in court, as their is a statement about that in the unfair terms Consumer act (not sure on exact name).
Also in a day where not having a bank account socially exludes people, even those on pensions and the dole, the banks hold us to ransom. I cannot get paid in cash, I cannot pay for alot of services in cash.
I dont hold up hope for a win for the consumer however, with the 7 banks having a purse probably bigger than the government. haha.. They have prob already paid off the judges.0 -
Hi all
I know its a difficult one to guess, but does anyone know how long it could be beofre this case is resolved. I have 2 ongoing claims against the HSBC and we are emigrationg in a few weeks, so was wondering what to do about the claims once we are out of the country.0 -
Hi all
I know its a difficult one to guess, but does anyone know how long it could be beofre this case is resolved. I have 2 ongoing claims against the HSBC and we are emigrationg in a few weeks, so was wondering what to do about the claims once we are out of the country.
It could be a long time - probably as long as three years as whoever wins will appeal through the Courts then up to the House of Lords for a final appeal.
It looks like the case is hardly a 'level' playing field!The OFT is being fought by Abbey, Barclays, Clydesdale, HBOS, HSBC, Lloyds TSB, Royal Bank of Scotland/ NatWest and Nationwide Building Society. The case has been jointly brought in an attempt to get the courts to resolve the bitter issue. The banks have assembled about 80 lawyers and are estimated to have spent £1 million each already. The OFT will be represented by Brian Doctor, QC.0 -
so what happens if the banks win? does that mean no one gets there money back?0
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What I can't understand is the fact that the banks have not refunded millions in charges because they are simply 'good eggs'. They must have thought they were going to get done for charging such large amounts. This being the case should they win will they be getting the money back off previous claimants? My view is they won't do this and therefore why should I not be repaid as well.0
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They are simply not admitting doing anything wrong.
When ever possible they have paid out to customers as a goodwill gesture.
Like the article says,No more free banking if they lose.0 -
I read the article here:
http://business.timesonline.co.uk/tol/business/money/consumer_affairs/article3182120.ece
about the amount of money the banks have spent on their legal team. It shows they must be somewhat concerned though.
Let's hope the OFT and their legal team (Brian Doctor QC and three junior barristers) have done their homework and can get through the first stage of the case and convince the judge that the regulations apply.
Yep, they're definitely worried if they're spending that money. But I suppose if you look at them potentially losing billions then £1m each is pennies.Wheeeeeee...0
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