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.
Just a little heads up about some banks that have started to change their terms and conditions.
When someone engages in unauthorised borrowing, this represents a breach of contract. When this happens, the injured party (the banks) are entitled to recover the costs incurred to them as a result of the breach. However, it is unlawful for them to charge more than the costs they incur and make a profit from these charges. This is the legal basis of all of the claims against the banks.
What many banks (including Lloyds TSB and HSBC) have now done is to change their terms and conditions so that unplanned overdrafts are within the terms of the contracts with their current account customers. Therefore, the fees they charge for these are no longer penalty charges for breach of contract and are therefore perfectly legal.
Whether you think these fees are fair or morally justifiable, they will now stand up in court. The banks are beginning to close the loopholes in their terms and conditions which have allowed so many people to get back their charges.
Basically what I’m trying to get across is that people who habitually go over their overdraft limits can’t rely on getting these charges back in the future. If you are at risk of incurring these charges, you need to do one of two things to avoid these charges:
a) Manage your finances very closely so that you don’t go into an unplanned overdraft or
b) Close your current account and open a basic account that does not have any credit facilities attached
Well done your post was more balanced than most of the 'manage your money better brigade' but point B above is flawed. I have seen many cases of people WITH basic accounts being hit with charges.
This is the point I make over and over again much of the money which people dispute is to do with transactions which were not paid. That is to say they didn't cost the bank anything of note.
The courts are accustomed to this kind of tactic to disguise penalties, they even have a name for it - cloaking. If the circumstances are the same but the wording has changed it would be a very show IMO if a court did not see through this.
In any event Nationwide remains steadfast in not changing its T & C's. Somebody has to be wrong.
Sorry to undermine your two keys points but I must also say the Citizens Advice Bureau says most debt problems are to do with a sudden change in circumstances.
I hope this doesn't sound too harsh but if you work for a bank you should openly declare it rather than claiming to offer some kind of sudden insight.
If you are not a banker I am sorry to make such a grave insult!
The views I express here are mere speculation based on my experience. I am not qualified nor insured to give legal advice and any action you take will be at your own risk.
At some point bank charges are going to be non-reclaimable. When that happens, people need a contingency so as not to get into serious debt problems. Do I think this sucks? Absolutely.
The point I was trying to make is this: at the moment a lot of people are using the fact that they can reclaim charges as a safety net, but this won't last.
If this is what all the banks are doing then its only good news for those who have claimed charges and waiting to hear - the banks are acknowledging they have been caught legally and have found there way out for future cases.
I have many friends working for banks but none can shed any light on what the banks are thinking - so agin thanks for that
Hi there - I have a question that I can't seem to find the answer to anywhere on site and yet its quite an important one . . . there seems to be a case pending, the decision of which will confirm whether or not more people can make claims against their banks for unfair charges. Does anyone know how or where I can keep track of this case so that in turn I know when I can make my claim? (if indeed I can)
a jacuzzi with Bananarama. I have not lived in Bolton since 1986
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Re: A little "heads up"
You would be advised to start reclaiming your charges now anyway, as when/if the judgement is made, there is going to be an avalanche on top of those claims already in the pipeline!
I see - many thanks for that useful information. I will get started then. I only just heard about this believe it or not so I'm still learning and trying to figure it all out.
At some point bank charges are going to be non-reclaimable. When that happens, people need a contingency so as not to get into serious debt problems. Do I think this sucks? Absolutely.
The point I was trying to make is this: at the moment a lot of people are using the fact that they can reclaim charges as a safety net, but this won't last.
Saying it won't last and that they won't be reclaimable at some point is plain wrong. How do you know that? What information do you have that will comfirm this? Personally, I'll wait & see what Mr Justice Smith has to say about it. As far as I know, he is the only bloke who can make such a statement with any authority.
Your original "heads up" might be news to you, but its very old news here and has been debated for many months now.
That said, at least your sentiments appear to be on the side of the consumer so I for one would welcome anything you could bring that could help in some way.
I always get told no refund today I was offered one without even asking and he refunded the charges for any items from this month too.
I had phoned up about something different and he offered the refund.
Then there is the barrister who said he knew the banks had got it wrong on another thread...
ANYBODY WHO NEEDS INFO ON YOUR LEHMANS MORTGAGE either SPML/PML/LMC/SPPL; the following are DIRECT tel#s, of the investigating & prosecuting organisations:
DO NOT say you are from CAG-only directly affected or a concerned citizen. 1. Companies House: Kevin Hughes(Compliance Manager-main) @ 02920 380 633 2. CH : Lee Jenkins(prosecuting Amany Attia for SPML/PML) @ 02920 380 643 3. CH : Mark Youde(accounts compliance) @ 02920 380 955 4. Companies Investigation Branch(CIB) : Charlotte Allan @ 0207 596 6108 (part of the Insolvency Service) investigating all the Lehman lenders 5. CIB : Jeremy Pilcher('unofficial'-consumer/company law) : @ 0207 637 6231
__________________ File YOUR 'Companies Investigation Branch'- CIB complaint online NOW!!!!
The whole charges system is too skewed against the consumer, how is it possible that the fee for an unpaid item can be put onto an account with NO overdraft thus taking it overdrawn?
The only way to avoid charges is to use a savings account for payment in but on these you cannot have standing orders or direct debits etc.
The views I express here are mere speculation based on my experience. I am not qualified nor insured to give legal advice and any action you take will be at your own risk.
The whole charges system is too skewed against the consumer, how is it possible that the fee for an unpaid item can be put onto an account with NO overdraft thus taking it overdrawn?
The only way to avoid charges is to use a savings account for payment in but on these you cannot have standing orders or direct debits etc.
...or stop using banks altogether.
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Advice & opinions of Dave, The Bank Action Group and The Consumer Action Group are offered informally, without prejudice & without liability.
Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
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Not so. I haven't had an account since August - and it's a lot easier without.
My wages are paid into a friends account and withdrawn in cash the same day.
[COLOR=olive][SIZE=1]If you feel that we have helped you, or you would like to help keep this web site running so that others can continue to get their money back, please click the donate button at the top of the forum.
Advice & opinions of Dave, The Bank Action Group and The Consumer Action Group are offered informally, without prejudice & without liability.
Use your own judgment. Seek advice of a qualified insured professional if you have any doubts.
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Add me as your friend on FaceBook - I need all the friends I can get
A little "heads up"
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Re: A little "heads up"
Originally Posted by rubisco
