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    • Hi All,  I would appreciate a bit of advice re a speeding offence.    I lease a vehicle and the leasing company received a Notice of Intended Prosecution (NIP) dated  7/1/21  relating to an alleged offence speeding offence (fixed camera) on 12/12/20.   As soon as I heard from the police, I wrote back and informed them that the notice was well over the 14 days set out by the Road Traffic Act. and sent them a copy of the notice issued to the leasing company dated 7/1/21.   The police persisted in simply replying and advising me that the it was issued within 14 days! After four letters from me, asking them to explain how this could possibly be within 14 days, they eventually put a bit more meat on the bone and said that an NIP was sent out on the 15/12/20, which would, of course, be within the statutory time.    I then contacted the leasing company again,  and they have confirmed that the only NIP that they received was on 7/1/21, otherwise, they would have contacted me earlier!     The NIP dated 7/1/21 presents as an original notice, not a reminder; not sure if that is relevant.    Any suggestions as to how to deal with this one?     Many thanks.      
    • was your car on the public highway.? and how far were you into the LBL when they took it.?   outline when you took the loan out? for how much and how many months for?   dx  
    • Yes, if you don't want their money then this is the time to write to them rejecting the offer and threatening to start County Court proceedings and 14 days. Don't imagine that your letter of claim will have any effect. It simply a formality and you will have to issue the court papers. If you want to send a letter of claim then post up a draft so we can have a look. Keep it short and to the point. Make sure that you understand the next step – which is issuing the claim
    • i've done it now.  
    • Sorry,  it won’t let me edit it.
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    • I sent in the bailiffs to the BBC. They collected £350. It made me smile.
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    • Hi @BankFodder
      Sorry for only updating you now, but after your guidance with submitting the claim it was pretty straight forward and I didn't want to unnecessarily waste your time. Especially with this guide you wrote here, so many thanks for that
      So I issued the claim on day 15 and they requested more time to respond.
      They took until the last day to respond and denied the claim, unsurprisingly saying my contract was with Packlink and not with them.
      I opted for mediation, and it played out very similarly to other people's experiences.
      In the first call I outlined my case, and I referred to the Contracts (Rights of Third Parties) Act 1999 as the reason to why I do in fact have a contract with them. 
      In the second call the mediator came back with an offer of the full amount of the phone and postage £146.93, but not the court costs. I said I was not willing to accept this and the mediator came across as a bit irritated that I would not accept this and said I should be flexible. I insisted that the law was on my side and I was willing to take them to court. The mediator went back to Hermes with what I said.
      In the third call the mediator said that they would offer the full amount. However, he said that Hermes still thought that I should have taken the case against Packlink instead, and that they would try to recover the court costs themselves from Packlink.
      To be fair to them, if Packlink wasn't based in Spain I would've made the claim against them instead. But since they are overseas and the law lets me take action against Hermes directly, it's the best way of trying to recover the money.
      So this is a great win. Thank you so much for your help and all of the resources available on this site. It has helped me so much especially as someone who does not know anything about making money claims.
      Many thanks, stay safe and have a good Christmas!
        • Thanks
    • Hermes and mediation hints. https://www.consumeractiongroup.co.uk/topic/428981-hermes-and-mediation-hints/&do=findComment&comment=5080003
      • 1 reply
    • Natwest Bank Transfer Fraud Call HMRC Please help. https://www.consumeractiongroup.co.uk/topic/428951-natwest-bank-transfer-fraud-call-hmrc-please-help/&do=findComment&comment=5079786
      • 33 replies

RBS Interest rate swaps- cap/collar

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Hi Aggi / all,


I am both a commercial business which I know is against the rules, and at the same time I am an individual trying to help in this overall situation. I don't / won't sell my business on here - but this sort of forum is important for everyone to understand and communicate what they are seeing and how they are going about this matter. I trust this will be taken as it should be. In fact much of what I do is look at whether people have a case (from a regulatory / FSA angle) and actively do reject cases that are not "mis-selling."


Aggi - were you put under any confidentiality clauses in the settlement through the FOS? There was a case last July that hit the Internet but was retracted after a confidentiality clause - part of the acceptance of more than the £150k that the FOS can legally bind.





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Hi All

Not sure if anyone can help me I have a swap have been arguing for some time now im just before issuing in the courts I think as I am outside FOS compensation limits

I do not bank with Barclays just borrow and I am in a tight fix I may miss this next quarters payments for the swap I will make sure my loan is paid direct to the account as what they do is take the swap then normally threaten to take the loan out of terms

Has anyone missed a rate swap payment and can they tell me what the consequences were or might be

I see James Ducker is in this forum would be very pleased to know your thoughts as well

Certain you have all seen it but Telegraph are doing a great job and nice to see that the Treasury may look into it sad that Vince cable didn’t do his job properly

Hope someone can advise

Many thanks fellow victims

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You should really try to find some way to talk to this individual as she seems to have interesting info that’s not been gagged

I have one of the top three companies in google search working on my case and it is slow

I think I will not be able to make this quarters payment any ideas what Bar Cap will do?? Its in my personal name

Be good if you can help

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Hi AnonBarcap,


I'll be at my desk for a while yet finishing some work if you would like to call. Happy to talk over with you.

I've had a really useful chat with Aggi as well - thank you Aggi!

I'll be arranging a gathering for everyone in this situation shortly so we can share thoughts and experiences. I don't want there to be a hard-sell or fear of turning up so any and all ideas / comments / thoughts welcome.


In terms of missing a payment, I'm not a solicitor, but in my opinion the bank should have the loan and hedge tied up either through an ISDA, a TMA (Treasury Master Agreement) or a long form confirmation. At worst they have "implied ISDA" (ie. never got one signed but assume it to be agreed. What these documents in effect do, is tie together the loan and the hedge for breaches and for security - so if you miss a hedge payment they can call a breach on the deal, and "call-in" the security (usually property). This would of course more than likely put the loan in breach etc. etc.


I have outlined the hard and fast rules, and in reality the bank may well act differently, but if you can avoid breaches at the moment I would suggest doing so. Each situation is different and each breach different, indeed the security may not be there or may be worth less than the loan - a perverse extra problem for the bank to consider. Due to each case being unique it's difficult to talk generally, but I hope that helps in some way. As these are legal documents I'd also ask for a review from a solicitor with regards to the ISDA etc.


Can I ask which firm you are using from the "Google search" - I wrote recently in a blog that there are sharks already in these waters and some are using Google Adwords quite extensively. I wouldn't publish which firms I believe these to be openly, but happy to talk honestly and openly about any and all firms that I know.



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  • 2 weeks later...

Hi we believe that we too were mis-sold our cap & collar and were not told at the time that it was a 'condition' of the mortgage that we took it out. we have sought council on this matter which cost us quite a lot but we were told back in 2009 that the contract was valid. we have had a couple of law firms ask us if they could act on our behalf to take legal action agianst the HSBC banks but we are just a small company employing 3 staff and cant afford the court fees. It has made my husband very ill with all the worry and we have paid out in fees about £40.000 so far. We thought we were being protected by the banks but we feel we have been 'sold down the river' If anyone out there has any news that could help us fight this case in the courts I'd love to hear from you

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  • 2 weeks later...

Hi Aggi,


Did you have a cap and collar or a dirivitive rate swap ?


A solicitor who contacted me said that most of the recent cases in the telegraph related to the Dirivatives rather than the cap & collar that we took out.





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Hi All,


I was told to take a rate swap in 2007. I was told by RBS that it was in my best interest!!. They told me that interest rates never come down and will be going up. I never asked for a loan swap. I wanted a normal repayment loan but that was not possible without me signing the swap papers. They faxed over to me the paperwork I had to sign so they could release the monies.

Each month I am paying over £4000 back to the swap. I called the number on the swap papers last week and asked them for statements to see what I have paid upto date, but the guy on the phone was rude and said you are ringing the wrong department and this is risk management (Nigerian accent). When I said your number is on the statements and take my reference number he said ring me when interest rates go up!!!!. Then we can talk business.

Half the numbers on the paperwork I received from RBS do not work anymore.


Another thing you have to remember is that when you have a business and someone offers you money you would do basically anything for them until you repay them back. These are the laws of nature and every hard business person knows this. We are all afraid that to go to our banks and complain, this could jeopardise our relationship with them. Everyone is afraid that they could ask for the loan back. The banks KNOW this and have everyone over a barrel. I was even advised by the bank to use a different solicitors to the one I have been using for the past 10 - 15 years to do the deal. They recommended one in their own area a firm that I never knew existed. This was another condition of the loan.


What happens now is in the hands of the FSA. Who pays the FSA?.......

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  • 2 weeks later...

There is a meeting of MPs in Committee Room 14 on Tuesday 24th April.


Please contact your MP as soon as possible so that he/she attends what will amount to a seminar educating them in the area of Swaps.

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  • 2 weeks later...

Have you all signed up with Bully Banks ? If not email them. I cannot give the address as I do not have enough posts to my name. They instigated a meeting of over 35 MPs in Parliament on 24th April. Sign up with them and they will keep you informed and advise on action to take. It might help

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Anyone who has a potential legal claim against the bank has only 6 years in which to lodge the claim so they should seek out a decent law firm which offers true no-win no-fee service, all too often they charge hefty fees.


There are major problems for those who have been bankrupted as a direct result of unsuitable advice.

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This one used to work at the FSA in enforcement and then at SRB Legal but has moved on to a much more substantial firm which happens to be one I have used for many years and can vouch for their track record.

Give her a call.


For the record I do not benefit from referrals as the practice of payment for such referrals was banned last year.

Clare Harries


Clarke Willmott LLP

1 Georges Square

Bath Street Bristol BS1 6BA

tel: 0845 209 1346

fax: 0845 209 2519

international tel: +44 117 305 6346

international fax: +44 117 917 5594

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  • 4 weeks later...

I have just sent this to a lawyer on the Bully Banks site,

I had an IRSA product covering £2.43m of debt, which indeed has now been wound-up as a result of a complaint to the Ombudsman. The product was with RBS, cap at 6.2% collar at 3.75%, this was ‘linked’ to a loan at 1.225% over base. The terms of this variant were such that when rates fell to below 3.75% the full 6.2% was charged. My point here is that RBS/Nat West did not then lower the payment due on the loan itself, so we were still being charged at the agreed amount in the original mortgage deed-when interest rates were higher. In theory this should have reduced the term of the loan, however as they never sent statements it is difficult to tell. So your clients are probably facing a double charge, certainly I did ask RBS to reduce the pay rate on the loan and they refused, I asked them for a refund of the extra capital we had repaid, they refused. You can easily check what they should be paying, (a least a good ball park figure) on a capital repayment loan at the Council of mortgage lenders web site


If indeed they are doing this, and I suspect RBS is, then the whole reason for selling the product in the first place is a sham.


Apologies if you are already on top of this, but it’s not something I have seen in the press about these products and I know RBS were adamant that the loan pay rate would not be reduced!.

Edited by Aggi
Didnt mean to include my name
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What's Best for You?



The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.


Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007



Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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  • 8 months later...

Hi Ive just registered as I was looking for a forum such as this, My brother who owns a care home in Surrey has a swaps product and Barclays has put his business into Administration, taken £160000 from his account, I have been trying to get more info and any group of businesses looking to take out a class action against the banks. As has been said a group action would have more clout and cost less.

We are aware of the current action against Barclays by Gardian Homes

Any help or guidance would be of great help

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Hi Kibsey,


You have to join Bully Banks, over 1,000 of us are now involved. Just google them, they are amazing. They have, with the help of Harry Wilson from the Telegraph, been responsible for the FSA paper published today. The findings were that over 90% of the products were mis-sold.

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We were old a interest rate swap in 2007 and still paying this today.


Everything was arranged by our business manager who had previously arranged other borrowing (no previous swaps). We are a small restaurant and bought our property which we were previously renting.


We have complained to the bank only are now going to review accounts as per FSA announcement but cannot provide timescales.


We are looking to start court proceedings we are sure of our case(mainly due to our history with our banking manager) and want to go it alone. I know we have to send in a LBA and then issue court papers but wouldn't know where to start with the particulars of claim.


Any help would be appreciated




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The legal system is a minefield even for supposedly competent lawyers. Do you have legal expenses insurance? I always insisted clients added it to their policy.


You have to make a commercial decision, personally I would allow the bank to do what the regulator has told it to but make sure you have a second opinion on the suitability of the product and of course the level of redress if it is forthcoming.


AND, watch what you say on the telephone or in writing. Cunning they be.

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