The OFT Case

[ppauls150]

I just can't believe that the courts are going to really make an impartial decision on this at the moment especially with all the hype about how banks are really in trouble, then compound the misery that the banks would stand to lose on having to pay back if they lost would really have a detremental affect on the world and would they really take that chance. It is annoying that this could be a factor in the decision.

[Gez]

In sincerely hope not. If any economic factors play a part (which I doubt to be honest), I would hope that with the economy going into slow down & possibly recession, a few £billion put back into circulation might be the better thing to have.

Failing that, I would simply hope that the judge gives a ruling based on common sense and what is blindingly obvious.

[The Phantom]

Originally Posted by Gez

I would simply hope that the judge gives a ruling based on common sense and what is blindingly obvious.

I dito that !

[Leecabs]

Hi just a quicky I started my claim in Feb 07 it went to court in May 07, now I just want to confirm once you have filed your claim it will be valid for all charges 6 years previous to the date the court file the claim i.e. 6 years previous back from 23/05/07 in my case. That doesnt change does it?

[breeze1996]

I've been watching the Test Case and the OFT are saying wait till July to expect and news, but I also think if the money is paid out we will all just use it to settle old bills and treat our-selves to a bit of luxury.
I also wondered what will happen if we lose, maybe we could all do some thing to show how we feel.

	Bank Charges You should have started your claim for your bank charges by now. Don't wait. You should send your bank a Subject Acess Request asking for all personal data they hold on you - not just statements. You should calculate all of your bank charges and related interest as far back as 1995. You should send your bank a demand for a refund giving them 7 days. You should commence your legal action adding 8% statutory interest. If you wait for the outcome of the test case, you may not be able to claim like this. you may not be able to claim interest. You may only be offered the difference between the charge and the OFT "fair charge". The repayment scheme will try to limit you to refinds from 2001 only. A repayment scheme will not deal with any bank charges related defaults on the credit register whereas in a court action you can ask for these to be removed and to be compensated for the damage caused to you and your family by them. You should also write to the bank and to the CRA and put all charges related credit entries in disupte and warn them that you will want them removed from the Register when the test case is over. Warn them also that you are likely to be seeking compensation for these wrongful data entries. Full and final settlement Have you previously accepted a partial repayment of your bank charges in full settlement? You will still be able to claim the rest of your money back after the Test case is decided. Get all your information back to 1995 and put in your claim now.

[kennythecelt]

Welcome to CAG breeze!

Are you reclaiming unlawful charges? If so, how can we assist you?

Good luck, Kenny

[breeze1996]

I'm like most people here trying to claim, Abbey have accepted my claim and just say it is on hold till the case ends. I think what I hate most is the lack of anything being said about the case.
The banks must love how quiet the news is about the charges. We seem to be expected to wait till we are told what to do. i think the judge should have asked them to provide the cost, becasue that is what they don't want to reveal.

[kennythecelt]

I know how you feel breeze. Hopefully it will be good news in the not too distant future.
Take care and best wishes, Kenny

[Bookworm]

Originally Posted by Leecabs

Hi just a quicky I started my claim in Feb 07 it went to court in May 07, now I just want to confirm once you have filed your claim it will be valid for all charges 6 years previous to the date the court file the claim i.e. 6 years previous back from 23/05/07 in my case. That doesnt change does it?

When you say you started your claim in Feb, but it went to court in May, do you mean you started sending your letters in Feb and filed in May, or that you filed your claim in court in Feb and had a court date in May?

The 6 years run back from the date you filed your claim at court.

[Son of Shoestring]

I would add the cynics viewpoint here (again, I guess), that in view of what is happening to the global banking system (Bear Stearns, Carlyle Capital Credit, Northern Rock and many others still to hit the wall), one should not be too hopeful.

The government and G7 will not permit the system to fail -- and bad news is going to be heavily curbed. I would offer the perspective that this case, if it goes against the banks, would be viewed as bad news, bringing further pressure on an already fragile market.

Yours in cynicism

Shoestring

[breeze1996]

I've been Surfing the net alot over this issue, I really do think we won't be getting any refunds this year. If you look the Banks say they will appeal, and so do the OFT. That means more time while someone else decides if the banks can charge us.

I was shocked the Judge didn't demand an account of the really price.
I really thought how can he decide if he doesn't know how much we are overpaying.

Which then means even if he decideds we should get a refund he couldn't decide what would be a fair amount, to charge in Future.

Can't we the public do something to demand to see how much it costs.

Because that will be the next stalling tactic of the banks. Yet that's the one thing they refused to reveal.

[texel]

As no doubt the court will be aware of the amount of money involved if we should win against the banks which makes me think that no way will the court let us win!!!

[butty_a]

It isn't just about the cost to the banks but the legality of the charges, do correct me if I'm wrong. So if the charges are illegal then only a full refund will be right no matter what the cost is to the banks

[texel]

I would not be surprised if the court allows a small refund instead of what is due!!!

[wino]

It says in the Mail On Sunday today that the decision on the test case has been delayed for three months until July!
Why is it taking so long?
If I was in court for taking someones money unlawfully I bet the judge would make a decision pretty quickly.

	Bank Charges You should have started your claim for your bank charges by now. Don't wait. You should send your bank a Subject Acess Request asking for all personal data they hold on you - not just statements. You should calculate all of your bank charges and related interest as far back as 1995. You should send your bank a demand for a refund giving them 7 days. You should commence your legal action adding 8% statutory interest. If you wait for the outcome of the test case, you may not be able to claim like this. you may not be able to claim interest. You may only be offered the difference between the charge and the OFT "fair charge". The repayment scheme will try to limit you to refinds from 2001 only. A repayment scheme will not deal with any bank charges related defaults on the credit register whereas in a court action you can ask for these to be removed and to be compensated for the damage caused to you and your family by them. You should also write to the bank and to the CRA and put all charges related credit entries in disupte and warn them that you will want them removed from the Register when the test case is over. Warn them also that you are likely to be seeking compensation for these wrongful data entries. Full and final settlement Have you previously accepted a partial repayment of your bank charges in full settlement? You will still be able to claim the rest of your money back after the Test case is decided. Get all your information back to 1995 and put in your claim now.

[kennythecelt]

Hi Wino,

Nothing on BBC or any newspaper web site that I have been on.

This was posted by someone on the media forum, but it was not backed up.

Have you read actually read the article? Can you please relate what exactly it says.

Are you sure it does not relate to the waiver which lasts until July 2008.

Thanks, Kenny

	FSA Waiver The FSA has granted a waiver to the finance industry in respect of bank charges claims. The waiver has been in place since July 2007 and will continue until the OFT test case is decided. The OFT test case will be heard by the House of Lords in June 2009. We are likley to get a decision before the end of the year. Under FSA rules, banks must normally deal with all complaints within 8 weeks. The FSA waiver has allowed banks to put bank charges claims on hold pending the outcome of the Test case. The FSA waiver is expremely one-sided as it allows banks to put claims on hold but it allows banks to continue levying charges. It also allows banks to continue enforcement action even in relation to disputed bank charges. The FSA waiver has been assisted by a general stay on charges-related County Court claims. You are still permitted to begin a County Court claim for the refund of your charges but your claim will be put on hold pending the outcome of the OFT test case. Despite this, we recommend very strongly that you begin a County Court claim now!! If you are on benefits, you will not have to pay court fees. You should start a County Court claim to recover your money straightaway.

[wino]

Sorry it is not scanning properly but on page 61 of the Mail On Sunday it says

Delay over fees verdict by Dan Atkinson

A crucial ruling on the legality of bank overdraft fees has been delayed by three months.
With billions of pounds of potential customer refunds in the balance, the verdict, hoped for next month, will not be delivered until July.
It has emerged that should the banking industry lose the case, some banks may be unable to calculate what they owe their customers because full office records stretching back six years will not exist.

That will cause a big headache if the banks are ordered to cut past and present charges to a level where they simply reflect the cost to them of an unauthorised overdraft.

With no way of working out the costs caused by overdrafts in years gone by, banks may be forced to offer more generous refunds than the ruling requires, according to a top industry source.

The delay in a ruling from the High Court case means that a wait for what are thought to be hundreds of individual lawsuits from customers aggrieved over 'excessive charges'.

>>THE new banking code comes into force tomorrow and for the first time requires banks to look out for customers facing debt problems.

	The Banking Code Follow this link to read the Banking Code in full. Ofen ignored by its subscribers, half-heartedly monitored and poorly enforced

	Bank Charges You should have started your claim for your bank charges by now. Don't wait. You should send your bank a Subject Acess Request asking for all personal data they hold on you - not just statements. You should calculate all of your bank charges and related interest as far back as 1995. You should send your bank a demand for a refund giving them 7 days. You should commence your legal action adding 8% statutory interest. If you wait for the outcome of the test case, you may not be able to claim like this. you may not be able to claim interest. You may only be offered the difference between the charge and the OFT "fair charge". The repayment scheme will try to limit you to refinds from 2001 only. A repayment scheme will not deal with any bank charges related defaults on the credit register whereas in a court action you can ask for these to be removed and to be compensated for the damage caused to you and your family by them. You should also write to the bank and to the CRA and put all charges related credit entries in disupte and warn them that you will want them removed from the Register when the test case is over. Warn them also that you are likely to be seeking compensation for these wrongful data entries. Full and final settlement Have you previously accepted a partial repayment of your bank charges in full settlement? You will still be able to claim the rest of your money back after the Test case is decided. Get all your information back to 1995 and put in your claim now.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[kennythecelt]

Many thanks Wino!!

[dave]

Originally Posted by wino

It has emerged that should the banking industry lose the case, some banks may be unable to calculate what they owe their customers because full office records stretching back six years will not exist.

So presumably their breach of the Data Protection Act will be taken into account as well then?

6 years is the minimum, in the insurance industry it's 7 years.

Oh dear, how have we allowed the banks to get into this position -where their incompetence can dictate the timescale of a ruling on the judiciary.

Unbelievable!

What's worse is that they probably believe that this is a decent excuse.

...still, it's a good sign; in a way. It looks like they expect to lose, but there are deals going on that mean that they will only lose a certain amount due to their incompetence.

[kennythecelt]

Thanks Dave
Valuable commentary.