Limitations Act

[cmb]

Can I ask why everyone is limiting themselves to charges levied over the past six years.

 

The Limitations Act 1980 allows for the period to take action to recover charges to be extended to six years from the point at which you could reasonably have been expected to know that you could make a claim.

 

Since the banks have been claiming that the charges they apply are legitimate and lawful, and not excessive penalty charges (as they still do), a lay person could not reasonably have been expected to know any different, to know that they are in fact unlawful, and that they could go to court to claim them back.

 

The banks' customers have relied on what their banks have told them in this respect, and because of this have not believed that they had any cause to refuse to pay the banks' charges, or to take them to court to recover any excessive charges which had been applied - until stories began to appear in the media.

 

The limitation on taking action I would suggest runs for six years from when you read an article or saw a news item which suggested that what your bank told you about its charges being lawful was not in fact true, when you first became aware of this fact

 

This would allow you to claim for all charges the banks have applied to your account, back past six years from now.

[dave]

Already covered here:

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?t=3598

 

 

...but you are quite right ;-)

[cmb]

All very well, but judging by the numbers of recent posters who say they are requesting statements for six years, in order to claim charges for six years, this information has not been effectively disseminated

[dave]

True; we're seeing if anyone want's to try this track first before actively encouraging it.

 

If the bank succeeds in getting the claim thrown out because it's outside of the statute of limitiations, then that person will lose their court money.

 

Many people here cannot afford for that to happen on a whim, so once a few people have tried this and have succeeded, then we will know how to fight this angle a bit better.

[neilloffhagen]

True; we're seeing if anyone want's to try this track first before actively encouraging it.

 

If the bank succeeds in getting the claim thrown out because it's outside of the statute of limitiations, then that person will lose their court money.

What court money would that be? If it's just the small claim court, say of around £100 once I've got my money back from my bank (should be soon) I'll give it a go. I've got bank statements back to somewhere in the 1980s. Been with the same bank since my first job, over 30 yeas ago.

Haven't looked at them in details, so don't know how many charges were levied back then.

 

Neil.

[Bovvered]

I'd give it a go too but there is no way I can get duplicate statements now I don't think (from pre 1998 )

[Candice]

After I have won my main case against RBS and have about £3k to play with (and a further 26 DCA's to possible sue), I will give it a go. You'll have to wait for a few weeks first I suspect however.

[cajdad]

......... over 30 yeas ago ...........don't know how many charges were levied back then.

 

Neil.

 

It could be my memory fading with age, but I don't remember charges being at an extortionate level that many years back.

 

I'd be interested to know when they started ripping off their valued customers in this way - probably longer ago than six years though.

[Bookworm]

It is your memory fading with age!

 

I have some surviving Natwest statements from dec 1991, an o/d letter fee was £20. In October, I have an "advice letter" @ £15 + an "unpaid d/d fee" @ £20, both relating to the same d/d.

 

In terms of what wages were like 15 yrs ago, I suspect it was just as disproportionate then. And of course, interest rates were through the roof...

[cajdad]

Really? :o In that case it's pretty amazing that nobody mounted a serious challenge years ago. Maybe that's because there was no internet and sites like this!

 

I couldn't bear to keep my old bank statements - they depressed me! Luckily for me I haven't been stuffed with charges in recent years (my claim is on behalf of my daughter).

 

I certainly remember the high interest rates - I'm sure I was paying up to 15% on my mortgage during the 1980s. Don't suppose anyone knows how I can claim that back!!

[Neo]

I think though, the longer we go back the more chance of manual intervention. There must of been a time when people actually had a list of overdrawn accounts and did some semi manual intervention.

 

I suspect that they have wongly upped the charges to justify IT systems been put in to place.

[cajdad]

I think though, the longer we go back the more chance of manual intervention. There must of been a time when people actually had a list of overdrawn accounts and did some semi manual intervention.

 

I suspect that they have wongly upped the charges to justify IT systems been put in to place.

 

Good point. Before they handed over control and responsibility to the computer someone probably had to make a specific decision to issue a letter telling you that they were charging you £20 or whatever - but I bet that decision took no longer than 10 seconds in most cases! It would have been a stock letter, so no time needed to compose it, but someone would have had to type it. Still not enough work to justify £15 + £20 in 1991 though!

[Don Quioxte]

Can I ask why everyone is limiting themselves to charges levied over the past six years.

 

The Limitations Act 1980 allows for the period to take action to recover charges to be extended to six years from the point at which you could reasonably have been expected to know that you could make a claim.

.

 

Indeed it does. But I think you may find that it is impractical and virtually impossible to claim beyond the six years..

 

now don't quote me on this, I did my securities institute and FSA regulatory paper in 2004, and I am fairly certain that...

 

Under FSA regulations, and in accordance with the Financial Services and Marketing Act 2000.. fianancial service providers are only required to maintain records of customer accounts and transactional history in a format readily accessible for a period of six years. My understanding is there is no requirement beyond this - save for exceptional investments and possibly mortgages which are not covered by FSMA 2000.

 

I might be misleading you, but I think you will find that a bank/lender can turn around and say bog off (or bag off), because they are in compliance with FSMA 2000 and probably don't even hold the data so are not in breach of DPA.

[Neo]

An accessible period yes, but I am sure they need to keep them longer for other legal reasons too... if you can get access to these then there maybe problems... but if the subject has these already(beit past statements etc) then we have a case, maybe..

[Movingon]

That's fine; if they don't have the records then state that you're claiming under the Statute of Limitations S32(1) (b) and ©, and because they do not hold records that you are using an average based upon the most recent six years of charges.

 

That's what I intend to do; although just to be sure I will place this claim on a separate line of my Moneyclaim form, if it goes that far; so that the Judge has the opportunity to grant the most recent six years and deny the rest if that's what he decides.

[neilloffhagen]

I take the point that the bank may not be required to hold the records beyond 6 years, but what if you actually have them yourself? Maybe a bit sad but, I have bank statements from the HSBC going back to early 1980s Would they count and be able to be used, even though the bank may not have their own copies?

 

Neil.

[Movingon]

Sounds like documentary evidence to me... it's still an official statement whoever's posession it's in. Personally I don't; so I'm going with the estimate.

[mispatient]

I am new to this site and I notice that individuals give a report on where they are at with any claims. Some of them seem to be with institutions other than banks, or at least not just bank accounts.

Does this thread of claiming charges include credit card companies etc?

[alanfromderby]

Please post questions to a new thread - I would also suggest that your question is answered in the FAQ's.

[cmb]

This topic was closed on 09 March 2019.

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