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| | | | | | General Come here to discuss general issues in the unlawful charging by banks debate.
Any general issues about unfair bank charges. | Welcome to The Consumer Action Group
and
The Bank Action Group
Before beginning to claim your bank charges be sure to read the FAQ by clicking the link above. Read it carefully and also read as much of the forum material as you can manage before you start claiming your bank charges refund.
You will have to register before you can post or view the materials which may assist you in reclaiming your penalty charges: click the register link above to proceed.
To start viewing messages, select the forum that you want to visit from the selection below. Understand what you are doing and you will be able to Reclaim the Right more effectively.
Why don't you come and introduce yourself in the Welcome section at the top of the forum. Then have a look around the rest of it.
Do not post or start claiming until you have read the entire FAQ section and step by step guides and you have a good basic idea of what to do and of the layout of the forum.
Good luck claiming your bank charges. We strongly suggest that you register under a UserID and not your own name |  | | 
1st March 2007, 09:12
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 #1 (permalink)
| | Platinum Account Customer |  About the OFT (not so) impending report - PLEASE READ THIS IF YOU'RE WORRIED
In the "Tonight" programme a few days ago, Martin Lewis announced his belief that the OFT "cap" would be set at £12-£15 and that the banks would then only refund the difference between that amount and the amount people were charged. This opinion created a panic amongst reclaimers, thinking that they were about to lose a large chunk of their money if they didn't rush to claim now. This needs a few clarifications: First, this is Martin's opinion. It is not based in law, or insider knowledge. He may be a well known journalist, but it is still only his personal opinion, speculation if you will. The facts are these: a) The OFT is a regulatory body, they do not make law. The only way the law can be changed is through an Act of Parliament. b) The OFT, when they announce the results of their enquiry on bank charges, will only be announcing a level at which they themselves will take legal action against the banks. It is not a cap!!! In their credit cards report of April 5th, 2006, they clearly stated that they could not declare what was a fair or lawful charge, only the courts could decide on this. Furthermore, the OFT also declared at the time that consumers who felt that they had been charged unfairly should go through the legal system to reclaim their charges. There is no reason to suspect that their stance will not be identical this time. c) The law on penalties is well entrenched in contract law. Even if a bank tries to tell you after the OFT announcement that they will only refund the difference between the "cap" (It's NOT a cap!) and what you were charged originally, (leaving aside the fact that such a decision couldn't apply retrospectively anyway ), well, they also told you their charges were lawful, fair and transparent, and did you believe them? Why should you believe them now? d) Bottom line is this: If the bank try to say that they'll only refund you the difference, carry on with your claim. They will still have to convince a judge that what they are charging is lawful, which means they would still have to disclose how those costs are calculated, and they still won't want/be able to do that. Conclusion: Ignore the sensationalism, stick to the facts, and you can't go very wrong. In other words, business as usual, OFT or no OFT report. I hope this helps setting a few minds at rest. 
__________________  Barclays: Won ~ NatWest: Won ~ Halifax (x2): Won ~ FNMF: Won ~ Barclaycard: Won ~ GHD: Won ~ Grattan: Won ~ GE Money: Won ~ Capital One: Won ~ Land of Leather: Won.*~*~*~*~*~*~*~*~*~*~*~*~* All advice and opinions given by Bookworm are personal, and are not endorsed by ConsumerActionGroup or BankActionGroup. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. | 
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1st March 2007, 11:29
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#4 (permalink)
| | Platinum Account Customer |  Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
Thanks, Kimmy.
Don't want to sticky it, as there already are too many stickies up there and it will not get seen as much. So if people keep on bumping it, there's a better chance of it being viewed by more.
__________________ Barclays: Won ~ NatWest: Won ~ Halifax (x2): Won ~ FNMF: Won ~ Barclaycard: Won ~ GHD: Won ~ Grattan: Won ~ GE Money: Won ~ Capital One: Won ~ Land of Leather: Won. *~*~*~*~*~*~*~*~*~*~*~*~* All advice and opinions given by Bookworm are personal, and are not endorsed by ConsumerActionGroup or BankActionGroup. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. | |
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1st March 2007, 11:41
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#6 (permalink)
| | Platinum Account Customer | Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
Someone told me Martin was on Ch5 earlier, repeating that "you only have till April to claim".
I repeat: THIS IS NOT TRUE!!!
*sigh*
__________________ Barclays: Won ~ NatWest: Won ~ Halifax (x2): Won ~ FNMF: Won ~ Barclaycard: Won ~ GHD: Won ~ Grattan: Won ~ GE Money: Won ~ Capital One: Won ~ Land of Leather: Won. *~*~*~*~*~*~*~*~*~*~*~*~* All advice and opinions given by Bookworm are personal, and are not endorsed by ConsumerActionGroup or BankActionGroup. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. | |
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1st March 2007, 11:47
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#7 (permalink)
| | Gold Account Customer | Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
why is martin doing this  what rubbish. didnt affect the credit card claims. and it wont affect the bank claims.
somebody really should put him right on this.
the average joe not on these forums wont be any the wiser
going to go on mse now | |
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1st March 2007, 11:53
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#8 (permalink)
| | Platinum Account Customer | Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
Martin can stand there, wiggling his butt and fluttering his eyelids...and then try to woo people with soft and calming words...ignore him...as Bookie says, it is only his opinion...and it is wrong.
You don't need to look very far to see other opinions that are wrong...they are in the news everyday...and forgotten ten minutes later when the reality strikes home.
CAG methods have been tried and tested, there is experience in the advice, and resolve in the determination to continue with full settlement of claims...the banks will try to concede the beach-head, and convince you that you have won - do not let others reinforce this view...
__________________
Alecto, Magaera et Tisiphone: Nemesis on Earth is come.
All advice and opinions given by Spiceskull are personal, and are not endorsed by Consumer Action Group or Bank Action Group. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.
Last edited by Spiceskull; 1st March 2007 at 12:19.
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1st March 2007, 12:45
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#9 (permalink)
| | Site Team | Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
Excellent posts folks.
I claimed against cap 1 credit card... they offered the difference between the charge and £12. I told them to pay it all up... they did so.
The banks will have to do the same, its exactly the same situation.
this is nothing more than a red herring.
__________________ HSBC WON three times!!!!! Read about my continuing battle (claim FOUR!) Link HERE Capital One WON Link HERE GE capital (5 accounts) WON link HERE Lloyds bank account WON second claim starting! link HERE Budget insurance cough up WON link HERE Principles WON link HERE A&L (Mrs Crusher's account) claim link HERE Barclays claim link HERE Any advice given is on an informal basis only and without prejudice or liability. In in any doubt, consult a qualified lawyer. IF YOU HAVE GOT YOUR MONEY BACK, PUT SOME BACK INTO THE SITE TO HELP KEEP IT OPEN! | |
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1st March 2007, 12:50
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#11 (permalink)
| | Platinum Account Customer | Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
Quote:
Originally Posted by HSBCrusher  lol @ phoenix | Well, it was a nice birthday present for her...and a sincere form of flattery - who else can claim to have been a part of both Phoenix' and Spicey's sig??? | |
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1st March 2007, 13:21
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#13 (permalink)
| | Gold Account Customer | Re: About the OFT impending report - PLEASE READ THIS IF YOU'RE WORRIED
Quote:
Originally Posted by HSBCrusher .
I claimed against cap 1 credit card... they offered the difference between the charge and £12. I told them to pay it all up... they did so.
| likewise with me paid up in full especially when made a court claim  | |
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1st March 2007, 15:57
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#15 (permalink)
| | Platinum Account Customer | |
Debs
