OFT Announcement made 10.00 am 24/4

Bernard_Coleslaw

preid wrote: »

i calculated my charges + intrest and i was shocked it was nearly £2000 thats half of my dept so got my letter written up and ready to send once the annoucement has been made, just hope its in the customers favour

As others have said, today's judgement isn't going to decide anything that definite - it's merely to decide whether or not the OFT can then go on to assess banks' terms and conditions under the fairness regulations. even then, appeals could be lodged by either side. As a result, I don't think we're going to be told today whether charges are classed as fair (or legal).

Sorry to be the bearer of bad news, but I think everyone needs to stand back a little bit and stop getting so excited about today's announcement. It doesn't end today!

preid

Should i still send the letter to the bank?

Bernard_Coleslaw

preid wrote: »

Should i still send the letter to the bank?

I can't answer that for you, unfortunately. But all I would say is that if you did, today's announcement wouldn't make that much of a difference to how it would be dealt with. (In my opinion, of course.)

Sorry I can't be more help.

nickmack

Bernard_Coleslaw wrote: »

Sorry to be the bearer of bad news, but I think everyone needs to stand back a little bit and stop getting so excited about today's announcement. It doesn't end today!

I don't think it will come as news to regulars to this forum that this is only part of the legal process.

If anyone is unsure of what's happening, check Martin's article which explains matters:

http://www.moneysavingexpert.com/reclaim/oft-bank-charges

Totality

The announcement has just been made...more to follow in a few mins apparently.

mystic_trev

OFT have won the case!

Totality

It's been ruled charges are subject to "unfair contract" regulations.

smartie1976

Here's the link to the BBCs (limited) reporting on it
http://news.bbc.co.uk/1/hi/business/7364422.stm

nickmack

http://news.sky.com/skynews/article/0,,30400-1313853,00.html?f=rss

machomanugget

So now i guess another 3 years of the banks using every possible means to keep us from getting our money back. what a joke this country really is ..

Mr Justice Andrew Smith said: "This does not necessarily mean they [the charges] are unfair."

So what does this mean? and why if they already paid out millions does this not prove there guilt enough already?

And what about all the claims that have been stuck for over a year in the courts, i bet we get shafted again and have to wait years and years...
while the banks continue to make millions off all the money we are waiting for

i thought today was supposed to be a good day for us , yet all i am hearing is that nothing is going to change for next few years. Why cant something be done about this for the normal people in the country that are forced to have a bank account to pay there way?