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Does yesterday's announcement affect unfair credit card complaints submitted to FOS?


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I've submitted my complaint to the Financial Ombudsman service, there's no mention on their site as to whether the suspension of dealing with bank charge complaints pending the outcome of a test case will affect people like me too, who are trying to reclaim credit card charges rather than bank charges.

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I think this test case will cover all aspects of banking. Have a read of this thread Oft test case: what this means for you

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LATEST NEWS: OFT LAUNCH HIGH COURT TEST CASE26th July 2007

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Hi on BBC news this morning test case is regarding unortharised overdraft charges not credit card charges which are under a seperate OFT investigation

 

all the best dpick:lol:

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http://www.consumeractiongroup.co.uk/forum/consumer-forums-website-questions/53182-cant-find-what-youre.html

 

 

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The law surrounding the reclaim of the Full credit card charges is exactly the same as for bank charges (ie Unfair Consumer Contract Terms Regulations 1999), therefore, I suspect there will be a full moritorium on the processing of claims depending the outcome of the test case to be heard in October.

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The test case is regarding bank overdraft charges so credit card claims aren't affected by the OFT announcement and should continue as normal. :)

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Part of OFT announcement states clearly currant account unauthorised overdrafts nothing is mentioned regarding credit card agreements though there is a separate investigation into credit card charges it is not connected in any way to this test case.

 

dpick

cannot find it A to Z

 

http://www.consumeractiongroup.co.uk/forum/consumer-forums-website-questions/53182-cant-find-what-youre.html

 

 

Halifax :D

Paid in full £2295

 

MBNA:mad: 20/03/2008 settled in full out of court

 

Capital One:D

07/07/2007 Capital one charges paid in full £1666

19/01/2008 recovered PPI £2216 + costs

 

Littlewoods :-D

12/08/2007 write off £1176.10 debt.

 

JD Williams charges refunded in full £640

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The law which is being tested is Section 5 of the Unfair Consumer Contract Terms Regulations - (ie are these charges an Account Charge or are they a penalty) whether bank overdrafts OR credit card charges the same law is being tested, therefore, if you go to court over credit card charges you'll be saying the charge is unfair under the UCCT Regulations and I suspect a judge will simply stay the case awaiting the outcome of the test case !!!!

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The law is not being tested. Whats being tested is if and how the law - specifically the Unfair Terms in Consumer Contracts Regulations 1999 - applies to the terms of the account contracts which permits the banks to levy 'overdraft charges'.

 

A credit card has a completely different type of contract with different terms, none of which are being tested in the OFT case. The UTCCR's, and also the common law principles, can only be applied to the specific terms of contract in each case, and not broadly.

 

Credit cards, mortgage charges, catalogue charges, even business account charges are not being tested in the OFT case, and therefore will not be effected by any stays or "waivers".

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Although with credit cards there is a clear breach of contract and could possibly proceed. Current account charges are slightly different in that the banks argue there is no breach of contract. Some banks T & Cs state that the customers must not exceed their limit other banks do not place such a prohibition.

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The law is not being tested. Whats being tested is if and how the law - specifically the Unfair Terms in Consumer Contracts Regulations 1999 - applies to the terms of the account contracts which permits the banks to levy 'overdraft charges'.
What about a case against 'overdraft charges' base purely on the common law?- ie a case such as

 

a) I have a contract with my bank

b) I broke it

c) They charged me as a result more than it cost them

 

I think you could make such a case without any reference to the UTCCR1999.

 

And why can't the OFT get things right?! THeir previous forrays into this area concentrated on transparency of charges, now it's fairness (effectively). What about lawfulness?

Steven

 

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What about a case against 'overdraft charges' base purely on the common law?- ie a case such as

 

a) I have a contract with my bank

b) I broke it

c) They charged me as a result more than it cost them

 

I think you could make such a case without any reference to the UTCCR1999.

 

And why can't the OFT get things right?! THeir previous forrays into this area concentrated on transparency of charges, now it's fairness (effectively). What about lawfulness?

The penalty at common law angle is also being tested.

 

Here - The Office of Fair Trading: Questions and answers for OFT test case announcement 26 July 2007

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Any advice or opinion is offered informally & without liability. Use your own judgment and if in doubt seek advice of a qualified and insured professional.

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Thanks Gary

Steven

 

Using CAG Toolbar will generate much needed income - Download Here

 

Confused by Simple Interest? Confounded by Compound Interest? Read my Interest Tutorial

My Wins

 GE Money Won unconditionally May 2007

NatWest Won unconditionally August 2007

Brighthouse Won unconditionally August 2007

Goldfish Won unconditionally April 2008 (including CI on the basis of Sempra)

Clydesdale Financial Services (now BPF) Won unconditionally February 2008

 

Any opinions are without prejudice & without liability. Do not take any legal action on my advice alone. Almost everything I know concerning the law I learned from this site.

 

Please note, I will not give advice by PM. Please send a link to your thread and I will do my best to answer there.

 

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