Bank Charges D Day

[neeko]

Despite the banks "winning" their share prices have not moved suggesting that it was not much of a win at all.

[Beaver808]

http://news.bbc.co.uk/1/hi/business/8376906.stm

Bugger... anyone got any razor blades? 

[G1BTW]

http://news.bbc.co.uk/1/hi/business/8376906.stm

Bugger... anyone got any razor blades?  

It's not over mate. Yet to read the judgement in full but the Supreme Court Judge did just say that it was possible for the OFT to pursue the fairness investigation by other means. The OFT have been working independently of this judgement to prepare further action against the banks. There is also the possibilty of an Appeal to the European Court.

This judgement today does not affect Credit Card Charge Reclaiming.

[Beaver808]

http://news.bbc.co.uk/1/hi/business/8376906.stm

Bugger... anyone got any razor blades?  

This judgement today does not affect Credit Card Charge Reclaiming.

Am I right in thinking it doesn't affect loan insurance (PPI?) either?

[lazaroonie]

http://news.bbc.co.uk/1/hi/business/8376906.stm

Bugger... anyone got any razor blades?  

It's not over mate. Yet to read the judgement in full but the Supreme Court Judge did just say that it was possible for the OFT to pursue the fairness investigation by other means. The OFT have been working independently of this judgement to prepare further action against the banks. There is also the possibilty of an Appeal to the European Court.

This judgement today does not affect Credit Card Charge Reclaiming.

amazing. i am truly astonished at this verdict. prior to the moratorium being put on any action in 2007, the banks were basically paying out these claims without too much of a fight. i know scores of people who got 4 figure sums back from a variety of banks for the effort of writing a few letters, and following the procedures on the moneysavingexpert website. This suggests to me that the banks fully expected to lose. but of course since then the whole economic climate has changed considerably. and the banks are now largely owned by the UK taxpayer, which has to have been a factor in this decision.

interesting quote from the bbc

"In a three-day appeal in the House of Lords in June, the banks argued they would receive a "deluge of litigation" if the decision was made against them."

did they banks really use this as a defence ? I must try this next time i get stopped for speeding. I will explain to the court that to fine me would result in a deluge of similar cases being tried in the courts. incredible.

[gatso]

great news for people who don't cry like babies

[StuartHopkin]

great news for people who don't cry like babies

Even better news for people who dont cry like babies who also got their claim paid in 2006 

[lazaroonie]

great news for people who don't cry like babies

Even better news for people who dont cry like babies who also got their claim paid in 2006 

you as well ?

We got the nice surprise as we came back home after a tough 2 weeks in the carribbean. Opened a letter from RBS to find a cheque for nearly 4 grand and a letter saying this is being paid provided you dont make any more claims.

just about paid for another holiday

[cia260895]

http://news.bbc.co.uk/1/hi/business/8376906.stm

 

[sovietsong]

I'm just happy the correct decision has been made.

I also believe the decision was unanimous, which if I'm not mistaken means there is no further route for appeal?

Maybe people will start taking responsibility for managing there own finances now?

[StuartHopkin]

great news for people who don't cry like babies

Even better news for people who dont cry like babies who also got their claim paid in 2006 

you as well ?

We got the nice surprise as we came back home after a tough 2 weeks in the carribbean. Opened a letter from RBS to find a cheque for nearly 4 grand and a letter saying this is being paid provided you dont make any more claims.

just about paid for another holiday

Jees Laz you must have abused your account! Lol

Mine was almost 4 figures not quite.

When I just left colleget and HSBC said heres an overdraft for double what you earn a month I couldnt help myself.

Claiming it back was quite entertaining.

We completely disagree, you have no right to ask for this, but we will offer you 60%

Not thanks

We have done nothing wrong, you have no rights to claim this we will see you in court....
unless you accept 70%

No thanks, bet I can beat you to the court proceedings.

We have received a court notice and will be defending the case

Er heres 110% of what you asked for now just go away.

LOL

[G1BTW]

I'm just happy the correct decision has been made.

I also believe the decision was unanimous, which if I'm not mistaken means there is no further route for appeal?

Maybe people will start taking responsibility for managing there own finances now?

 




PPIs still good to go, btw.

[G1BTW]

great news for people who don't cry like babies

Even better news for people who dont cry like babies who also got their claim paid in 2006 

you as well ?

We got the nice surprise as we came back home after a tough 2 weeks in the carribbean. Opened a letter from RBS to find a cheque for nearly 4 grand and a letter saying this is being paid provided you dont make any more claims.

just about paid for another holiday

Jees Laz you must have abused your account! Lol

Mine was almost 4 figures not quite.

When I just left colleget and HSBC said heres an overdraft for double what you earn a month I couldnt help myself.

Claiming it back was quite entertaining.

We completely disagree, you have no right to ask for this, but we will offer you 60%

Not thanks

We have done nothing wrong, you have no rights to claim this we will see you in court....
unless you accept 70%

No thanks, bet I can beat you to the court proceedings.

We have received a court notice and will be defending the case

Er heres 110% of what you asked for now just go away.

LOL

LOL

Is all quite surprising, those payouts. Maybe the banks are really surprised by today's ruling too, that's why they were paying out. In hardship cases, they were paying out too..........

...........unless they knew that there was more to come after this and the OFT had other routes planned.

I don't think the politicians can do anything else now though, retrospectively? The tories were talking of mass payouts, but they have to follow the laws that were in place and the interpretation of them.

At least we may have put a (temporary) hold on all the whining and bitching and moaning, it was really giving me indigestion with my porridge.

[StuartHopkin]

great news for people who don't cry like babies

Even better news for people who dont cry like babies who also got their claim paid in 2006 

you as well ?

We got the nice surprise as we came back home after a tough 2 weeks in the carribbean. Opened a letter from RBS to find a cheque for nearly 4 grand and a letter saying this is being paid provided you dont make any more claims.

just about paid for another holiday

Jees Laz you must have abused your account! Lol

Mine was almost 4 figures not quite.

When I just left colleget and HSBC said heres an overdraft for double what you earn a month I couldnt help myself.

Claiming it back was quite entertaining.

We completely disagree, you have no right to ask for this, but we will offer you 60%

Not thanks

We have done nothing wrong, you have no rights to claim this we will see you in court....
unless you accept 70%

No thanks, bet I can beat you to the court proceedings.

We have received a court notice and will be defending the case

Er heres 110% of what you asked for now just go away.

LOL

LOL

Is all quite surprising, those payouts. Maybe the banks are really surprised by today's ruling too, that's why they were paying out. In hardship cases, they were paying out too..........

...........unless they knew that there was more to come after this and the OFT had other routes planned.

I don't think the politicians can do anything else now though, retrospectively? The tories were talking of mass payouts, but they have to follow the laws that were in place and the interpretation of them.

At least we may have put a (temporary) hold on all the whining and bitching and moaning, it was really giving me indigestion with my porridge.

I think it is because the original cases could have gone to court and so it was cheaper than to defend each one individually.
Obviously they only had to pay the claims until they received the stay on all cases while it was sorted.

[lazaroonie]

great news for people who don't cry like babies

Even better news for people who dont cry like babies who also got their claim paid in 2006 

you as well ?

We got the nice surprise as we came back home after a tough 2 weeks in the carribbean. Opened a letter from RBS to find a cheque for nearly 4 grand and a letter saying this is being paid provided you dont make any more claims.

just about paid for another holiday

Jees Laz you must have abused your account! Lol

not really. i was trying to run a business at the time, and the great irony is that the business accounts were at the same bank. online banking wasnt as sophisticated then, and unless you could get down to the bank, to transfer money from business to personal would take three days.

so your personal account would go 20 quid overdrawn, and there would be 4 grand in your business account. thanks very much, 30 quid charge.

this went on for about 3-4 years, and it only took 2-3 charges per month for it to mount up.

luckily i was an avid hoarder of documents, and proceeded to sit one night and go through them all...3870 quid.