Complaint to OFT?

[Bart]

I am thinking of adding this to the LBA

Furthermore, I shall submit a Consumer Credit Act 1974 complaint to the OFT upon the basis that you have failed to comply with the OFT's direction of 5 April 2006 and are therefore not a 'fit and proper person' to hold a consumer credit licence under the 1974 Act.

But was wondering if there are any tips or templates how to make the complaint. Apologies if this already somewhere - I checked FAQs and templates but couldn't find it.

Furthermore, do people generally add this or not? Any experience whether it helps?

Thanks,
Bart

[Glenn UK]

Bart

I dont think that any bank gives a stuff about the oft, if they did they would be ringing up customers and asking for their forgiveness.

JMHO

Glenn

[Warms]

Originally Posted by Bart

I am thinking of adding this to the LBA

Furthermore, I shall submit a Consumer Credit Act 1974 complaint to the OFT upon the basis that you have failed to comply with the OFT's direction of 5 April 2006 and are therefore not a 'fit and proper person' to hold a consumer credit licence under the 1974 Act.

But was wondering if there are any tips or templates how to make the complaint. Apologies if this already somewhere - I checked FAQs and templates but couldn't find it.

Furthermore, do people generally add this or not? Any experience whether it helps?

Thanks,
Bart

Hi Bart

I added it to my last NatWest letter and it had no effect - didn't expect it to, anyway.
Having spent some time on the OFT site Office of Fair Trading - making markets work well for consumers
I now have the feeling complaining to them would be pointless.

Bankfodder says there it might be more effective to write to the local MP: Office of Fair trading - Unfair Terms in Contracts
I am now thinking about what to do about it next!

[zootscoot]

The more people that complain to OFT the more notice they will take. It can't do any harm.

[Wild Billy]

The more people that complain to OFT the more notice they will take. It can't do any harm.

Spot on.

I added it to my last NatWest letter and it had no effect - didn't expect it to, anyway.
Having spent some time on the OFT site Office of Fair Trading - making markets work well for consumers
I now have the feeling complaining to them would be pointless.

It depends what you mean by pointless. We know they can't individuals resolve disputes so in that sense complaining is pointless because it isn't going to help you directly. But giving them your evidence is going to help the authorities build a case against companies and allow them to take action- we can't complain they don't do anything when we don't provide them with the information to do something.

Although we shouldn't have high expectations as the Consumer Credit Act isn't really a great bit of legislation as far as I can tell. You need a licence to trade and the only penalty seems to be having that licence taken away- but does anyone really think the OFT is going to take a bank's licence away and effectively put a bank out of business?! Can't see it, if only because it would require a ridiculous amount of evidence to warrant such a serious sanction! Millions and millions of customers so a few complaints isn't going to be much to go on. I assume that is why the new Consumer Credit Act is being brought in as that seems to have a wider range of penalties attached to it, like fines. Easier to fine someone than put them out of business.

Bankfodder says there it might be more effective to write to the local MP: Office of Fair trading - Unfair Terms in Contracts
I am now thinking about what to do about it next!

Might be but I complained to my MP once and he just forwarded it to the relevant government department for an answer!