OFT Test Case on Bank Charges ......from House of Lords to Supreme Court

[EXC]

Re: TODAY at the House of Lords - OFT v Banks latest news

In a way stage 2 litigation isn't needed in the scenario that the OFT come out and say the charges are unfair and as an authority that has the power to enforce UTCCR it's view stands until it is challenged in court.

I very much hope there is a stage 2 as it will make a nonsense of the whole concept of a 'test case in order to provide legal clarity and certainty'.

But even If the OFT don't partake in a stage 2 then it is beyond doubt that someone else will, in the form of a Representitive Action.

[Amethyst]

Re: TODAY at the House of Lords - OFT v Banks latest news

[Sapphire]

Re: TODAY at the House of Lords - OFT v Banks latest news

I reckon it will be sometime between now and the General Election (usually held in May), somehow I feel it could become part of a Manifesto.

Go on tell me how wrong I am :kiss:

[Bankstormer]

Re: TODAY at the House of Lords - OFT v Banks latest news

Im sorry but my knickers are in a twist.

I am well aware of what is happening and the procedures that have to be followed, however, I find myself in a position that I am sure the majority of claimants are in.

DEBT!

If all goes our way I am owed thousands by the banks. I am really struggling to make ends meet. (Please do not start going on about financial hardship cases as it doesn't apply to my circumstance, and i presume many other peoples)

I face possible redundancy in November and Christmas is around the corner.

My point is that if we don't get a decision until December then it will have taken them almost six months to hand down a decision that we all know was made in about two days.

This decision is also on an appeal of an appeal of a loss. The powers that be know how important this is to people, why are we being made to wait for so long.

In an Ideal world it would be great to drag this on for ever and a day to make sure all bases were covered and to limit the banks to being able to charge 15p for any mistakes, however time is running out for a lot of us.

If I were drowning I would take an empty barrel to cling onto right now rather than wait until i could be dead for a shiny new life boat to turn up.

[Sapphire]

Re: TODAY at the House of Lords - OFT v Banks latest news

Don't please don't apologise for getting yourself in a stew, I agree there's loads of people out there hoping hard that this will get resolved and 'refunds' due will help get them out of debt. Its such a crying shame that so many people are struggling whilst waiting.

[Budgie]

Re: TODAY at the House of Lords - OFT v Banks latest news

Im sorry but my knickers are in a twist.

I am well aware of what is happening and the procedures that have to be followed, however, I find myself in a position that I am sure the majority of claimants are in.

DEBT!

If all goes our way I am owed thousands by the banks. I am really struggling to make ends meet. (Please do not start going on about financial hardship cases as it doesn't apply to my circumstance, and i presume many other peoples)

I face possible redundancy in November and Christmas is around the corner.

My point is that if we don't get a decision until December then it will have taken them almost six months to hand down a decision that we all know was made in about two days.

This decision is also on an appeal of an appeal of a loss. The powers that be know how important this is to people, why are we being made to wait for so long.

In an Ideal world it would be great to drag this on for ever and a day to make sure all bases were covered and to limit the banks to being able to charge 15p for any mistakes, however time is running out for a lot of us.

If I were drowning I would take an empty barrel to cling onto right now rather than wait until i could be dead for a shiny new life boat to turn up.

I appreciate how you feel Bankstormer and for a lot of people it's already too late. People have lost businesses, houses, their family life, their sanity and in some cases their lives as a direct result of the delays in proceedings and the length of time it is taking to resolve matters.

Unfortunatly, there is nothing anyone can do to speed matters along.

I am pretty sure that even when the Supreme Court judgement is handed down and the banks appeals dismissed that even at that stage the banks are going to continue to argue that their charges and the terms that apply them are fair. I personally don't think they will nicely step down and refund everyone's money. If they were going to give in easily they would have done so by now and if they had been considering giving up after the Supreme Court judgment I am pretty sure there would have been some sort of leak about it.

Sadly, I think the banks will see this matter through to the bitter end. They just do not give a toss about the untold misery and pain these charges have caused and will continue to cause many thousands of people until the matter is finally put to bed.

All we can can do is continue to work together as Consumers on a united basis keep our eyes peeled for opportunities to get interim settlelements for the people who really need it and make sure that we do whatever we can to make sure our voices are heard.

Budgie

[natweststaffmember]

Re: TODAY at the House of Lords - OFT v Banks latest news

Bankstormer, there is the hardship route and you will be ticking boxes on it so I wouldn't discount that at all because we may be at least 12 months or more from the real decision that we all want to hear ie refunds, how far back and when the clock finally stops so to speak on this issue.

[Bankstormer]

Re: TODAY at the House of Lords - OFT v Banks latest news

Bankstormer, there is the hardship route and you will be ticking boxes on it so I wouldn't discount that at all because we may be at least 12 months or more from the real decision that we all want to hear ie refunds, how far back and when the clock finally stops so to speak on this issue.

Thanks, but hardship route simply isn't possible for me.

LOL, im not feeling sorry for myself, I just get sooo angry with it all. We'll get there in the end. Oh, and when I run the country - they are all gonna pay!

[Budgie]

Re: TODAY at the House of Lords - OFT v Banks latest news

They are going to pay anyway, irrespective of who is running the Country.

The only questions are when, over what period, and how much on top.

[EXC]

Re: TODAY at the House of Lords - OFT v Banks latest news

My point is that if we don't get a decision until December then it will have taken them almost six months to hand down a decision that we all know was made in about two days.

This decision is also on an appeal of an appeal of a loss. The powers that be know how important this is to people, why are we being made to wait for so long..

As frustrating as it is it's important to remember that there are dozens of other cases awaiting judgments from the Supreme Court - which after all consists of only a handful of people - that are of equal importance to other people. Just because we think it's important to us doesn't and shouldn't give us a devine right to a monopoly of justice.

[ROBSTER]

Re: TODAY at the House of Lords - OFT v Banks latest news

As frustrating as it is it's important to remember that there are dozens of other cases awaiting judgments from the Supreme Court - which after all consists of only a handful of people - that are of equal importance to other people. Just because we think it's important to us doesn't and shouldn't give us a devine right to a monopoly of justice.

and as merv puts it:

"To paraphrase a great wartime leader, never in the field of financial endeavour has so much money been owed by so few to so many,"

"And, one might add, so far with little real reform."

[WendyB]

Re: TODAY at the House of Lords - OFT v Banks latest news

Saw this in the Daily Mail yesterday.... I see someone we know is quoted in it. http://www.dailymail.co.uk/money/art...t-charges.html

And this article as well, in which the writer says he thinks there will be a compromise solution THE LAST WORD by TONY HAZELL: Don't let the banks off the hook | Mail Online

[ROBSTER]

Re: TODAY at the House of Lords - OFT v Banks latest news

Whilst your on that page what about voting up "jim from jeddah" ?
(on the comments below the artical).

The red arrow is the one on the right

[EXC]

Re: TODAY at the House of Lords - OFT v Banks latest news

Ombudsman's letter to banks about hardship claims:

http://www.financial-ombudsman.org.u...p-letter-A.pdf

[agnes]

Re: TODAY at the House of Lords - OFT v Banks latest news

Did you see Martin Lewis on Watchdog tonight, he cleverly managed to mention the letters he had from Nick Clegg David Cameron and Gordon Brown !