Thread: Bank charges issues post test case - Debt collection agencies

Assuming then that the OFT confirms its preliminary view that bank charges have been historically excessive and therefore unfair: --

debt collection agencies

An enormous number of debts which are passed to -- or even sold onto -- debt collection agencies are debts which are comprised wholly or very substantially of bank charges. Debt collection activity on these accounts will have to cease.

·How will debt collection activity on these debts be stopped?

·Will banks be able to contact all debt collection agencies and recall charges related debts?


After the heat - post test case issues in full

This would depend on the judge

If he/she noted the "bank charges" element of the claim, he may stay it but it would more than likely be down to the defendant to bring it to the Judges attention and request a stay due to the ongoing case

(though unlikely this would apply after Wednesday's ruling)

If you view the advice given on the site you will see any claim brought can be quiet easily defended

If you are in this position, please start a thread in the relevant bank's section HERE then people with direct experience of that banks approach will be able to offer appropriate guidance