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.
I had an overdraft with Natwest back in 1992, I was made redundant and it got out of hand and I was offered "help" by my bank manager in the form of a loan to consolidate the overdraft. This was offered to me at 19.9% if I secured it against my property or 29.9% if it was unsecured. Not having much of a choice at the time (I had to take one option) I opted for the secured at 19.9%.
I serviced this for years but due to various reasons I missed payments here and there and in early 2000 the outstanding balance was over £9k, despite the original loan being only £3k. Most of the extras were charges (£3 per day for example) along with monthly penalties etc.
NatWest postured here and there but usually a payment or two satisfied them and the balance kept rising. Naturally they liked this because it was a secured debt, had they wanted to call it in, they could at any time.
I paid it off about five years ago and managed to negotiate a Full and final payment of £6k, arguing successfully at the time that the reason the balance was so high was because of their punitive charges.
I no longer bank with them so have no fear regarding account closures etc. and wonder if I could take this further? I have letters from my bank manager going back to 1992 refuting my allegations at the time that the charges were punitive and that they were a true reflection of the banks costs, which at that time were £27.50 for a returned cheque or direct debit.
As this has since been found to be untrue I wonder if I could claim back beyond six years?
I'm going to have a go anyway, (it's the closest thing I can get to a fight these days!) but would appreciate any advice that any of you can give me.
iGroup (GE Money) - AoS Filed late, defence late, amended defence also late despite extra time requested and granted. Vanquis - Claim issued, no AoS or Defence received
iGroup (GE Money) - AoS Filed late, defence late, amended defence also late despite extra time requested and granted. Vanquis - Claim issued, no AoS or Defence received
You may have a little difficulty gaining the information if you don't already have it, but you can claim for it, even if you have to estimate some of it.
Search the forums for information regarding the 6 year limitation period. There are a few good threads with a lot of information in them already.
Many thanks Vampiress, I have yet to send the SAR letters as had two accounts at the time and need to find the second account number, I know I have it but not sure where!
iGroup (GE Money) - AoS Filed late, defence late, amended defence also late despite extra time requested and granted. Vanquis - Claim issued, no AoS or Defence received
You would also be wise to claim for anything within the last six years first, before commencing any claim for charges that are allegedly outside the limitation period.
Ok, thanks I'll do that. Incidentally I am pretty sure I have a letter from my manager received way back in 1992 or 1993 that states that the charges were fair and reasonable etc, would that be useful in light of the much more recent OFT investigation? For example, as they have been found to be unfair and unreasonable could I use this as evidence of concealment or the true costs? The charge for a returned cheque or DD was £27.50 even back then.
iGroup (GE Money) - AoS Filed late, defence late, amended defence also late despite extra time requested and granted. Vanquis - Claim issued, no AoS or Defence received
Going back to 1992
with Natwest back in 1992, I was made redundant
payment of £6k, arguing successfully at the time that the reason the balance was so high was because of their punitive charges.
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