Pay It Back Campaign

doodchair · 3rd May 2006, 15:28

Dear all,

We have been having some correspondence with the OFT concerning using their powers to suspend consumer credit licences to obtain refunds of illegal default charges. Unsuprisingly they are refusing to do this.

However, as a result we are now asking everyone to write to their M.P and request that submit a complaint to the Parliamentary Ombudsman. This has the dual benefit of (i) Getting the issue into M.P's in-trays from their constitutents, and (ii) Getting the Parliamentary Ombudsman to investigate the OFT.

A standard letter for people to send in to their M.P is now available on our website - www.debt-on-our-doorstep.com/news.html

We would be very grateful if you could send one in.

Best wishes

Damon Gibbons
Chair
Debt on our Doorstep

EDIT (Dave) : Made Sticky.

dinghy · 3rd May 2006, 19:21

Don't know if anyone has thought of this and don't intend stepping on anyones toes but can I suggest a posting of a prominent reciprocal link to this site on the "Debt on Our Doorstep" website ?

doodchair · 5th May 2006, 08:28

No problem, we've been meaning to do that for some time.

trundlecat · 5th May 2006, 09:22

Wil write letter this weekend.

Makes you wonder who the OFT are there to protect. If they won't immediately agree to suspend the licenses of businesses acting outside the law then what message does that send out?

doodchair · 13th May 2006, 09:13

Som further news on this. Mark Lazarowicz MP - who is the Chair of the Parliamentary All Party Group on Debt, is backing this campaign and we are hopeful that we can get a debate in parliament if enough people send in the letter to their M.P. We've also put a briefing pack on our website.... which we'll be revising in a week or so and giving greater prominence to this campaign, and including a link to Bank Charges Action Group.

Best wishes

Damon

Baronstoneybroke · 16th May 2006, 16:21

I have had a letter from Bill Wiggin, my MP as follows,

Thank you very much for your letter about credit card charges and the OFT's conclusions on the matter. I agree that the situation needs addressing as credit card charges can end up totalling more than the original debt. There is no doubt that banks and credit card companies make huge profits from consumers through their system of charges and this government has done nothing to protect consumers from unfair practices.
I will take up the matter on your behalf with the responsible Minister and will contact you again when I receive a reply. I am also enclosing a form for the Parliamentary Ombudsman which you will need to complete and return to me together with all relevant documentation. I will then forward it to the Ombudsman for her consideration.
I look forward to hearing from you.

So, I need to know exactly what to put to the Ombudsman. Anyone out there maybe can help me frame the letter or case.

Regards,

mechs · 19th May 2006, 12:00

Listing of Members of Parliament (many with email address) can be found at:

http://www.parliament.uk/directories/hciolists/alms.cfm

Please note that MPs will generally only deal with cases concerning their own constituents. It is therefore important that you include your full address and postcode in this form. This system does not permit users to send e mails from @parliament.uk addresses. Correspondence by e mail is forwarded once a day to MPs. If you wish to contact your MP urgently, you should telephone the House of Commons Switchboard on 020 7219 3000 and ask for your MPs Office.

makes it easier to protest against these unlawful charges!

mechs

doodchair · 26th May 2006, 09:09

With reference to The Baron's query concerning framing a letter to the Parliamentary Ombudsman, you can find a standard letter on the Debt on our Doorstep Website - go to the News Section and then to the item on the Pay It Back Campaign....

Damon

doodchair · 26th May 2006, 09:19

Baron,

Apologies, I was referring to our initial letter to M.P's. In respect of the Ombudsman form you need to do the following:

In section 3 - the complaint is about the Office of Fair Trading

When it asks whether you have complained to them tick no, but in the box put "Debt on our Doorstep has raised my complaint with the Office of Fair Trading and they have rejected the complaint"

In Section 4, enter:

"I am complaining because the Office of Fair Trading are failing to take appropriate action to recover the excessive default charges that have been made by my credit card lender(s). Despite the OFT finding that the charges that have been made againt me are unfair, they are not prepared to take an action on my or other consumers behalf to secure a refund. They say that they do not have the powers to do this."

In Section 5 : enter

"I want the ombudsman to investigate the OFT's claim that they do not have any powers to secure a refund from lenders on my and other consumer's behalf. In particular, I want the ombudsman to look at the OFT's powers under the licensing regime, and also to investigate why, if the lender doesn't make a refund, it should be allowed to continue trading as it has breached the fitness conditions for licence."

In Section 6, tick no

The rest of the form is just your basic details.

Let us know what happens.

Thanks

Damon

"I want the ombudsman to investigate

doodchair · 22nd September 2006, 13:42

Dear all,

An update. Following the OFT announcement earlier this month that it will be making ' no further interventions' on the issue of credit card default charges, we have written to Alistair Darling at the DTI asking what steps his Department will now take to ensure that consumer obtain refunds of past excess charges. I will post details of any response when we get it.

doodchair · 27th October 2006, 15:15

Hi all,

We have now had a letter back from Ian McCartney M.P and Minister at the DTI. The letter simply states that the Office of Fair Trading has no powers to recover previously incurred default charges and repeats the advice of individuals to take action. However, we have also managed to get Patricia Hewitt M.P to refer a complaint about the the OFT to the Parliamentary Ombudsman and have now had confirmation from them that they are looking into the matter further. We are expecting a response within the next month.

Damon

paulrockliffe · 21st February 2007, 12:14

I don't know if I'm reading this correctly, or if this has been brought up before, but is this a campaign to force the banks/credit card companies to refund all charges they've levied on customer accounts automatically?

If it is I think some though needs to go into the economic impact of such a massive transfer of equity, I can't see how taking a vast some of money from the countries primary lending institutions can have anything other than a negative impact on the country's economy as a whole.

I'm not saying I disagree with this course of action, far from it, I just think that once you start talking about massive sums of money then you have to consider the wider consequences. To date the effect has been negligible because it's been a steady trickle of money away from the banks, but there will come a point where the rate of money movement will have a significant effect. I'm not an economist, so I don't know if we're talking about the sort of quantities of money that would reach this threshold, but I tihnk it needs consideration.

Ozzybozzy · 30th March 2007, 22:32

I've saved the letter to my documents but when I click on it Windows does not recognise the file! I'm using Windows Vista, is this the reason do you think?

kodak · 21st May 2007, 14:02

Quote:

Originally Posted by paulrockliffe

...I think some though needs to go into the economic impact of such a massive transfer of equity, I can't see how taking a vast some of money from the countries primary lending institutions can have anything other than a negative impact on the country's economy as a whole.

I'm not saying I disagree with this course of action, far from it, I just think that once you start talking about massive sums of money then you have to consider the wider consequences. To date the effect has been negligible because it's been a steady trickle of money away from the banks, but there will come a point where the rate of money movement will have a significant effect. I'm not an economist, so I don't know if we're talking about the sort of quantities of money that would reach this threshold, but I tihnk it needs consideration.

I don't believe that it will make any difference to the economy; unless all these people decide to leave the country. As the assets are not being transferred; the state of the economy will not be affected.

All that will happen is that a few companies (public companies; so owned by all our pension money; life insurance...etc) will have fewer assets on their balance sheet.
Conversely, a lot of individuals will have a little more on their "balance sheet" so it should all balance out (give or take).

Not sure if this is what you meant in the quote; but let's not worry too much about the banks... I am sure they can look after themselves.

I suppose it would make a difference if they got close to their lending:capital ratios (the sum of money they need to keep in reserve in case people want cash from their account) and people made a run on the bank; but the amount would have to be huge for this to occur (well over £40billion [estimate of total charges make by banks over the 6 yrs]). This figure, huge though it seems to our eyes; only represents 1yr profits for the banks.
In any case, any loss (or potential loss) of the bank will be impacted by the drop in their share price; credit rating...etc.

horrocks44 · 19th June 2007, 12:47

A few billion is a drop in the ocean for the banking industry. One would have though that they would just say a BIG sorry, pay up and then have a serious and very public look at the manner in which they build and maintain a relationship with their customers, rather than have their image and reputation utterly destroyed in the eyes of the public by this steady drip-drip of quite appalling PR.

I suspect that the problem lies in the potential repurcussions. Should they own up to having behaved unlawfully, it is very likely that individuals and businesses will start pursuing them for damages, and that could get SERIOUSLY expensive.

bwdski · 20th June 2007, 23:45

How about in Wales and Scotland?

Do we write to our MP and AM/SMP?

SOMEFRIENDLYUK · 13th August 2007, 14:21

Quote:

Originally Posted by paulrockliffe

I don't know if I'm reading this correctly, or if this has been brought up before, but is this a campaign to force the banks/credit card companies to refund all charges they've levied on customer accounts automatically?

If it is I think some though needs to go into the economic impact of such a massive transfer of equity, I can't see how taking a vast some of money from the countries primary lending institutions can have anything other than a negative impact on the country's economy as a whole.

I'm not saying I disagree with this course of action, far from it, I just think that once you start talking about massive sums of money then you have to consider the wider consequences. To date the effect has been negligible because it's been a steady trickle of money away from the banks, but there will come a point where the rate of money movement will have a significant effect. I'm not an economist, so I don't know if we're talking about the sort of quantities of money that would reach this threshold, but I tihnk it needs consideration.

Paul, as far as i'm concerned stolen goods should always be returned. I have no doubt that the banks will use the same line to scare everyone, particularly given the scale of stock market falls this week. They will also use the 'end of free banking' argument as well, but why should charges used to subsidize free banking, if in fact it does. It is clear that the banks have been underhand, bullying and deceitful for decades.(thats the oft view-see the Times front page a few weeks page) People have lost there houses and gone bankrupt over there excessive charges!!
As for economic impact. Add up all the car manufacturers employees, all the banks employees, railways ici etc etc and they don't come anywhere near the employees of all the little (5 or less) businesses like shops, builders, roofers, garages etc. As a small business myself i know that many have been bankrupted or in severe financial difficulties due entirely to these charges -how may more employees would we all have with a decent helpful banking system-i for one would have at least one more! Multiply that by a few hundred, hundred thousand...that might improve the economy a bit. ....Sorry if this sounds like a rant!!!!

dannyg888 · 25th April 2008, 00:59

one thing really gets me with the bank charges
and thats customers who do not learn from their mistakes
]
see youre all expecting to get money back for being charged but you need to look at why you got charged in the first place. and the bottom line is you cant manage your finances but for some chases its understandable eg standing order/direct debit went out when it shouldnt have.

but back on to learning, if the bank charge was set at 10 pound everyone will be going overdrawn and wont give a dam but being set at 30

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