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 have a friend who worked for a bank (not as a banker but in computing) - he told me that he believes the banks are intending paying back the money if you claim because they don't want to go to court - they just wait until the latest time possible to give us back "OUR" money so that they can gain as much interest as possible! I wonder are they making more than 8% annually on "OUR" money !
So if they take you to court the chances are at the last minute they will give us "OUR" money back. Or just before going to court before they incur other costs.
It is the same as them keeping "OUR" cheques in the bank for 3 days to clear because they gain the interest! That's part of my argument if they do go to court - how can banks keep cheques for 3 days and then Lloyds TSB decide to change their rulings and clear cheques straight away ! If this WAS possible in the past then the banks are responsible for a lot of cheques not clearing in time for payments to credit card companies. They sit with "OUR" money earning interest and we get charged for LATE payments because of their greed. Then when Lloyds TSB decide to change it if we think we have 3 days grace to ensure we have cash in the bank they bounce a cheque because they are now clearing immediately ! They win all ways in this case. They are a PROFIT making scheme - sheer greed to exploit the less fortunate.
So keep smiling and keep pressing for "OUR" money back.
Lloyds aren;t clearing cheques straight away. I'll explain. The clearing cycle is 5 working days re Bank of England works Monday to Friday. What banks usually do is give you interest from the third working day. lloydstsb are saying they give interest from day one, not clearing the cheque just giving you the interest from day one. The profit making bit has been said before in the thread so I think you have said it before. Unless your friend works in litigation then the conversation was speculation on their part. The bank does incur court costs and interest from the date someone sues so to aviod court to avoid costs is not true.
I could get into a debate on if we give banks the opportunity to do x and y then what do we expect and yet at the same time if the banks did x and y then we wouldn't get into that position but it has been said in other threads.
Reassurance from an ex bank member !
as possible! I wonder are they making more than 8% annually on "OUR" money !
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