We DID intimidate customers with fake debt collection letters, admit bosses

[vanman]

We DID intimidate customers with fake debt collection letters, admit bosses

• HSBC, Barclays, Santander and RBS/Natwest all admit using the trick
• Treasury committee said banks are 'pulling the wool over customers' eyes'
• Labour MP John Mann: Practice 'obviously designed to intimidate people'
• Release follows campaign highlighting the scandal by the Daily Mail

The admissions, which follow a campaign by the Daily Mail to highlight the scandal, came in a series of letters released last night by MPs. In one of them, the chief executive of Barclays confessed the bank had used a number of ‘debt collection brands’.

story here

[wesd25]

Re: We DID intimidate customers with fake debt collection letters, admit bosses Read

I was looking for this online to post here after seeing it in the paper today.. You beat me too it lol...

I wonder if this could turn into another PPI type scandal for the banks.. Class action anyone?

[PAWS]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

Not a huge fan of the mail but thanks for that link. :tinysmile_twink_t2:
I somehow cannot see this gaining momentum in the same way the mis-selling of PPI but I would like to see a pound of flesh stripped off these bullies who caused so much fear and panic. Unfortunately scandals concerning the big banks are more news worthy than those concerning the same tactics used by DCAs.

[Fred]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

The worrying points of this are the risks associated with getting monies allegedly owed vs the success rates of intimidation............the consumer once defaulted was unimportant as in their priorities......the recovery process a "rat race"

[dogtired]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

Bet they wont hurry themselves to get in touch with those affected.
Having been a " victim" and then being enpowered by Legal Beagles I consider my self lucky but I am not holding my breath

[mystery1]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

Interesting admissions. I guess they think consumers, en masse, are too weak to do stuff like http://www.bailii.org/ew/cases/EWCA/Civ/2013/882.html http://www.bailii.org/ew/cases/EWCA/Civ/2013/982.html http://www.bailii.org/ew/cases/EWHC/...011/B3.htmland http://www.bailii.org/ew/cases/EWCA/Civ/2009/46.html

I suspect they are correct but hope some are able to strike a blow or 2 for the little guy.

M

[Fred]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

In my experience it is that consumers are far to short of experience or educated facts in chasing many complaints of this nature.............meaning they give up too soon & do not follow up what could be totally reasonable arguments/disputes, ignorance is our enemy in a lot of cases & the said take advantage.

[Amethyst]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

Of course in defence of the individual consumer pushing these cases forwards, Roberts won, but pretty much lost everything because of the massive costs involved in bringing the case.

[Fred]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

Of course in defence of the individual consumer pushing these cases forwards, Roberts won, but pretty much lost everything because of the massive costs involved in bringing the case.

Which is a huge reason why a lot of stuff that desperately needs looking at rarely does..........instead we rely on someone willing to take the "whack" ............regulation dare not.

I was purely referring to basics & the statistical trickle that hides the swollen dam behind.

[mystery1]

Re: We DID intimidate customers with fake debt collection letters, admit bosses

Of course in defence of the individual consumer pushing these cases forwards, Roberts won, but pretty much lost everything because of the massive costs involved in bringing the case.

I only know what is on bailii. I know sometimes a win isn't really a win EG Durkin but wasn't aware of that in Roberts.

M1