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OFT v Banks - **Don't panic!!!**


Bookworm
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da_jones.jpg...................... PLEASE!.......................da_jones2.jpg

 

 

 

So the OFT is taking banks to court. A great wind of uncertainty is sweeping CAGgers and non-CAGgers alike. At times like these, it is easy to listen to all the rumours, half-baked truths, and feel despair, especially when the media is not letting the truth getting in the way of a juicy headline.

 

HOWEVER! The main things to actually remember are these:

 

If you complain to your bank, or decide to go through the FOS, then your case will be put on hold. But there is absolutely no legal reason not to stick to your deadline and start your court claim as previously planned, or not to carry on with your claim if you had already lodged it.

 

There never was any cast-iron guarantee that you would get your money back within certain timescales, and now, these have just increased, that's all. (Yes, I know that sentence doesn't sound logical

tongue.gif )

 

As before, all you stand to lose is your court fee and not get the money you had lost a long time ago if you proceed with a court case and the OFT loses. On the other hand, if the OFT wins, your case will be already in the system, and wouldn't you rather be near the top of the list than at the end when this ends?

 

Another thing to bear in mind is the Statute of Limitations act 1980. SoLA 1980 kicks off from the date you first FILE AT COURT.

 

If you don't, and you were close to the 6 years period, by the time the OFT v 8 banks case is decided, you will have lost hundreds, maybe thousands of pounds. On the other hand, if your claim is already filed, then THAT date is the one where statute barred will run from.

 

Finally, a piece of advice for those with claims already in the system: Do NOT ignore courts direction because you think it's all over. People have been phoning courts all over the country since Friday and the message that is coming out loud and clear is this: BUSINESS AS USUAL, cases are proceeding. So don't neglect your court deadlines, and if you have a chance to get the defence thrown out because THEY didn't comply, do it ASAP, don't give them a chance to apply for a stay.

 

The banks have jumped at the chance to postpone all refunds, so fight back harder. Hit fast, hit low, and don't give them an opening.

 

In other words, KEEP GOING. We'll all get there in the end, but it's up to every one of us not to give up.

 

And most important of all:

 

DON'T PANIC!!!

;)

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Excellent, reasoned, balanced and reassuring advice!!

Any advice given by me is based solely on my experience in claiming, my experience in CAG or my opinion. I have no legal background. I want to encourage others to reclaim what is theirs.

 

Got a DCA breaking OFT guidance. Complain to the OFT about the DCA. Help put an end to these practices-

 

http://www.consumeractiongroup.co.uk/forum/letter-templates/155095-complain-oft-about-unfair.html#post1652270

 

Register with CAG today, its free, its a great community:

http://www.consumeractiongroup.co.uk/forum/register.php

 

[email protected].

 

 

 

Thankyou Kennythecelt:)

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solid sound advice:)

:D Actions in progress

Natw West on hold pending test case

LLoyds claim 3 on hold pending test case,

 

:lol:Claims Settled

LLOYDS TSB x 2 WON,

MBNA WON,

A&L WON,

GE Money x 2 WON , c

o-op visa WON, capital one visa WON,

Halifax (o/h) WON,

capquest, WON

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Just to clarify then, I am about to start recaliming my bank charges by asking for previous statements, does this mean I can carry on ahead with this?

 

Yes, start your own thread and we will help you there.

Disclaimer: Anything I write in these forums is my personal opinion and offered without prejudice. If in doubt, please seek independent legal advice.

 

*If what I have told you in this post has helped, please press the star at the bottom left and tell me!!*

 

My charges claims:

un1boy vs egg *SETTLED* | Un1boy vs LTSB-SETTLED | un1boy vs Black Horse-SETTLED | Un1boy v Smile *WON* | un1boy v HSBC - SETTLED! | Un1boy's HSBC CC - SETTLED! | Un1boy vs Co-Op *SETTLED* |un1boy vs Co-Op CC *SETTLED*

 

Default removals:

un1boy v Equifax - Default removal

un1boy vs Experian - Default removal

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i rang the courts today to pass judgment due to non compliance, they did not send me there court bundle.

but the lady on the phone said i would have to tell the judge,can i not do this before my court date which is this wednesday, the lady also told me that the bank will turn up to court????

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Excellant post Bookie :)

Any typos spelling mistakes are due to leprechauns in my keyboard they move the letters around sometimes (amended just for Bookie)

 

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I offer help and advice in good faith, based on my knowledge and experience. I am NOT a legal or financial expert. There are many CAG members and site team who are better qualified. Please do not make major decisions based on my advice alone.I do not give advice via P.M's. If anyone can correct my mistakes or improve on my advice, please do.

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Can someone (ie Bookworm or another Mod) please clarify this business regards the Statute of Limitations act ?

 

Many of us are claiming that section 32 of the act should be invoked anyhow, under the contention that the charges were paid due to the concealment of the true nature of the charges by the Banks, and/or that they were conceded under mistake.

 

Now, if the OFT case does finally come up with the ruling that the charges are/were unlawful then surely this provides scope (in fact further confirms) our rights to contend any 6 year limitation under this act ?

 

So why now the urgency to beat the 6 year limitation ?

 

I can appreciate the wisdom of getting claims in as usual in order that they get dealt with as soon as after the case is complete...... but I don't see that this is going to have any detrimental effect on our right under section 32 anyhow ?

 

 

Someone please clarify if this ruling would change those rights or not ??

 

 

PM

All opinions and advice I offer are purely my own, and are offered without any liability. If unsure seek the help of a licensed professional

...just because something's in print doesn't mean its true.... just look at you Banks T&C's for example !

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So why now the urgency to beat the 6 year limitation ?

 

 

No urgency as such, except that SoLA is still a complicated and uncertain area of the law. A lot of people will simply not be prepared to argue it, and will be happy with the 6 yrs (or more by the time the case is decided) charges back.

 

I personally think that 32 © will be the way to go once the dust settles, but that's way away in the future, as you know.

 

In the meantime, I think that the less litigious amongst us :razz: should get in their claims now, hence the emphasis in my post. Can't speak for others, naturally. ;-)

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Thanks Bookie

 

Thought so.

 

I think that the OFT case, if ruled in our favour, would actually become an insurmountable precedent which could be used and cited in court bundles as evidence of the past concealment and/or mistake triggering either or both parts of section 32.

 

I think this could be easily applied and won in all cases, and would not require vast efforts. I do hope that when the time arrives CAG will encourage it, and employ it as standard practice in all POC's.

 

Thanks again

 

PM

All opinions and advice I offer are purely my own, and are offered without any liability. If unsure seek the help of a licensed professional

...just because something's in print doesn't mean its true.... just look at you Banks T&C's for example !

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Excellent post Bookworm - the main thing is to stay calm, collective and PROCEED AS NORMAL. As they say "Patience is a Virtue" - we've waited this long surely we can wait a little longer!

Oooh well off to send my S.A.R. to Abbey who are next on my "To Do" list.

Good luck everyone

Woody

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hello,

 

went to court today and a representative barrister for Barclays turned up with details of a Stay pending final determination. She indicated that the process will be quite lengthy (court case is not expected before CHRISTMAS!) and that final determination could take anything from 12 - 18 months!

 

What I would like to know is if there is some way of getting the bank to pay out before this date (are they really expecting it to go in their favour?)

Could I not appeal to their greedy side and ask for say 2/3 of my original claim, telling them that paying this now will be beneficial as I can still add the interest accruing on a daily basis until Judgement and will in all probability be adding costs on for my time spent getting to court and time off work etc.

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You mean to FOS? SoLA doesn't apply, since it's an arbitration process. If you were to go down the FOS route, there is nothing to stop you from going as far back as you want, and see whether it gets anywhere. I know some people have been successful in getting further than 6 yrs that way, but can't really be more definite than that.

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It's time to rethink our strategy now - what we need is something to present to court to counter the stay claim, which the banks solicitors will be working on frantically. I am due for my prelim hearing next month and hoping to have something i can counter stay with by then.

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Many thanks, Bookworm - at last a level-headed thread that hopefully will continue to directly address the issues with the OFT case, and not get drawn into emotion and bad feeling (as has happened on other threads).

 

We all need somewhere to come to read the latest developments and advice, straightforwardly, and without countless posts full of negativity!

 

Once again, many thanks - Adam.

I do my best to be helpful, but at the end of the day I'm not a professional - please seek further advice if you're not sure. On the other hand, if I have helped, please click my scales - thanks ;)

 

Current Claims (all for friends!) -

 

Abbey - over £4k - Court claim issued & AQ filed ('Tish vs Abbey'). Alloc'n Hearing 21 Sept - Claim stayed 29/8/07.

Cap One - just under £2k - WON (just over 2k!)('Tish vs Cap One')

Cap One - just under £1000 - WON (just over £1k) Nov 07 (JimmyBoy vs Cap One)

Lloyds TSB - £3.5k - Court claim issued, defence rec'd and AQ filed; Alloc'n hearing 7th Sept Claim stayed 29/8/07! (JimmyBoy vs Lloyds')

MBNA - over £1k for mis-sold PPI - WON - approx £1500(IpswichWitch vs MBNA . . .)

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Just wanted to add my say as well.

So many conflicting views going around that it is good to have a reliable source for the info we are all looking for.

Human nature being what it is we will panic all depends how long for .

This thread will help to stop the rot.

Thank you so much Bookworm

30-12-2006--Requested statements from Local Halifax.

02-02-2007--Statements Recieved.

18-04-2007--Prelim sent.

20-04-2007--Reply , Thanks , give us 8wks letter.

02-0502007--Sent L.B.A. & Schedule of Charges

11-05-2007--Recieved reply ,still investigating.

17-05-2007--Sent Amended L.B.A. for Contractual Interest this time.

14-06-2007--Received standard Bog Off letter.

13-06-2007--Took N1 to Local Courts.

26-06-2007--Copy of N1 from Court, issued 21-06-2007. to Halifax, Deemed Served 25-06-2007

Have till 09-07-2007 to file Defence.

05-07-2007--Note that Acknowledgment of Service been Filed on 29-06-2007.

Have 28 days from date of Service to File Defence.

07-07-2007--Offer from Halifax.

09-07-2007--Rejection letter sent to Halifax. Next day delivery.

10-07-2007--Money put in Account:mad:

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Superb post Bookworm, one everyone should read, particularly in conjunction with Photoman's contribution reminding claimants of the potential way around the Limitations Act. Well done both!

If I've helped, please tick the scales at the bottom left of this message!

 

17th Sept: Found this site! :)

 

Lloyds TSB

 

22 Sept: Subject Access Req.

3 Nov: statements arrived. Charges calulated at:

A/c 1 - £2,178.01 + int of £1,206.54 (18.4% authorised)

A/c 2 - £206.11 + int of £211.07 (18.4%)

7 Nov - prelim.

3 Dec - LBA

13 Dec - £750 offered

23 Dec - £750 credited

28 Dec - rejection letter

2 March - issued

16 April - complained at court failure to forward defence

 

Halifax

 

22nd September: Subject Access Request.

4th November: No reply so LBA giving 7 days.

 

Cap One

 

22nd September: Subject Access Req.

5th October: Letter saying no record of account!

15th October: Replied telling them to try harder...

22nd October: Subject Access Req acknowledged.

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