Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
As a newcomer I hope someone can help, as this is not about bank charges per se, but still enough to get anyone's blood boiling!!
Several months ago I moved my bank accounts to A&L. I took a Premier Direct Current Account and linked Premier Direct Saver (10% interest for 12 months) as they looked like a good deal.
I filled out the monthly savings amount and requested £200 a month. Or so I thought.
I recieved the confirmation letter which stated an amount of only £20 a month. So I 'phoned them and said 'sorry, this amount is wrong' and asked to have it corrected.
They replied that 'Sorry, the interest has already been calculated and the amount cannot be changed. But you can write to a department and ask them' (beg them..)
So, I wrote, and nearly 4 weeks later, I recieved a letter basically stating the same as above.
The problem was that it turns out they had only fixed the interest amount several days before the date of the reply letter!! So what had they been doing with it for 3 WEEKS??!!
In that time I could have had the amount amended as I had asked!!!
So... another 'phone call to ask AGAIN if there was anyone in authority I could persuade to help me (due to their incompetance).
This time they advised 'oh, but we can change these now on the system. Hold on, I'll try for you'.
I waited with baited breath, but again - no joy.
So I then asked them to cancel the Saver account, as £20 a month was pointless (sticking my £200 a month in the ING Direct at 4.5% was better than £20 at 10%).
So guess what - THEY CANCELLED MY CURRENT ACCOUNT!!
All the new DD's I had set up for my bills bounced back, and after recieving nasty 'phone calls and letters from these people I eventually got them all sorted out (with bugger all help from the bank).
All I got after complaining AGAIN to A&L was a brief 'we're sorry' letter and a pamphlet about 'how to complain'.
All financial institutions (FI) are the same, they are not interested in customers unless they can exploit them. For investors, it is much the same.
I do not need to borrow so am always looking for top investments for 4 tranches of £25k.
We should all keep our own interest calculations as the FI are adept at making mistakes in their favour.
One of their favourites is reducing interest rates at the end of a guarantee period yet refusing to transfer the account(s) to ones with better rates, giving the investor no choice other than to close the account. At this time they are particularly fond of ignoring representations from the investor.
One answer if you feel screwed is to take out a loan for the amount of any losses or costs with the FI or a different FI in the same ownership and play one against the other. The ball is then in their court.
A&L Premier Direct Saver
for 12 months) as they looked like a good deal.
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Re: A&L Premier Direct Saver and The Rest
Rob