Tuesday 8th July - Latest News on the OFT v Banks Test Case

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

actually no idea why there are two of those lol will tyr and make it easier.

(sorry hijack)

oh I'll try and write a whats happened so far thing in PIL (plain intelligible language) at some point soon. Takes me a while to get my head around stuff and I hope no one feels awkward asking ANYTHING they are not sure of or don't understand.

[Budgie]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Thanks for the updates folks.

Am gutted that I missed the three day hearing due to holidays.
However it looks as though there will be many more to follow so will be able to get my "fix" a bit later.

Exc, do you know if transcripts will be available for 7th, 8th, 9th July ??

Budgie

[scottishlass]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

actually no idea why there are two of those lol will tyr and make it easier.

(sorry hijack)

oh I'll try and write a whats happened so far thing in PIL (plain intelligible language) at some point soon. Takes me a while to get my head around stuff and I hope no one feels awkward asking ANYTHING they are not sure of or don't understand.

Ame I didn't feel awkward, just didn't want any one to know how thick I am

[EXC]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Exc, do you know if transcripts will be available for 7th, 8th, 9th July ??

Budgie

In theory they should be as it was a hearing but as with the last transcripts, they probably won't be available until after judgment. But give Merril a call.

[RedCardPete]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

A simple thank you for all the work/effort that goes into updating these forums seems a bit inadequate. Not just that, but to then translate the complicated issues and decisions into language we all understand is admirable. Hope all you people involved in doing all that realise how appreciated it all is.
Presumably if Smith does say that under historical T's and C's, the charges could be penalties, then that will bring business accounts potentially back into play?

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

good question. It could bring them back into play for historics (pre Nov 07) T&Cs - business accounts have been treated differently through out the waiver period - this was because the argument was penalties not UTCCR - which seems odd now thinking about it as the case is pretty concenrated on penalties and that aspect seems to be being discussed more than the UTCCR aspect.

But yes, if historic terms are ruled as penalties it does read over to all historic terms - although it will 'be specific for current accounts, basic accounts etc and may differ between those, they are the same terms in business accounts so if high court has ruled a virtually identical term is a penalty in a current account I can't see a county court applying a different ruling to the same term on a business account.

I don't know really...I think yes but will read back and work out why we shoved Business claims out of the equation after the initial judgement - I think u are rightit was just penalties ruling on current terms.


Thanks for the thanks too. EXC does a marvellous job and commits a lot of time and energy to attending these hearings.

[Jester]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Hmmm...I'd forgotten that the hearing was this week. Thank-you to all of you for the updates.

I have to admit that what reminded me of the hearing was a phone-call I had last night (that I didn't answer) which appeared to come from Leeds. My claim is with First Direct (and they are based in Leeds) so I was half-hoping that it had been First Direct trying to contact me to make an offer (well, one can dream).

I am gutted that the appeal won't be heard until October though as I am in Court on the 27th July with RBS who are trying to repossess my home. My solicitor doesn't think I have much hope of hanging on to my home now unless I sort something out on the monies front (unfortunately, I don't have a couple of hundred thousand sitting in my bank account). Having a decision (and therefore First Direct paying out on my claim) would have at least given me some breathing space.

Ho hum. Always thought this would be resolved too late to save me, but one did live in hope.

Thanks you lot and keep up the good work

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Jester - nice to see you xxx you want to have a look at your reposession a bit more on your thread ? What happened with the new job ?

[Jester]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

I didn't get it. Thought it was all done and dusted, but I didn't get it. So am still looking.

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

~(((((((((((((((((((((((((((((((hug))))))))))))))) ))))))))))))))))))))))~ would the refund help stave off the reposession? we can try again on the hardship if you wanted. The FSA are discussing a £500 per year charges applied equals hardship situation with the banks at the moment to try and get hardship clariefied and people in need out of the waiver. Shout if you want to look again at it - i know you have lots more going on but if it might help has to be worth a shot?

Love your signature btw xx

[Jester]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Ame,

I'll drop you a PM on this subject as I don't want to be the cause of taking this thread off-topic. A lot of people are reading this for information about the test case not about my personal woes.

BTW, thanks for the comment about my signature. It's a phrase I came up with 7 years ago when I had my own website. I used to do a lot of creative writing at one time and have even been published !!

[Budgie]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Some basic observations.

As judgment has not yet been handed down wrt historical T+C's for either the penalty charge issues or the UTCCR 1999 issues there is absolutely no need to delay making or proceeding with any claims based upon reclaiming charges applied to accounts under historic terms. This applies to either personal account claims or Business account claims. OK, personal account claims will still be "stayed" by the county Courts but at least they will be in the County Court system.

It is important to note that Business claims should be limited to charges applied under historic terms and not include charges applied under current terms ( by current terms I mean those modifed since the test case announcement in July last year ). Although the Test Case has not specifically covered Business account T+C's it is highly likley that the County Courts will read across the "Not a Penalty" judgment for personal accounts to Business accounts for charges applied under the current terms and conditions. If the Bank specific Business Account Terms and Conditions have not been updated since the Test Case announcement in July last year it is quite possible that a Claimant could argue that the penalty charge aspect does apply to recent charges as well as historic ones. But it will be necessary to check this situation on an individual claim basis.

There is no need, at present, to amend any of the standard template letters for claims that are based upon historic charges ( those applied before the latest changes to Bank terms and conditions. I would recommend splitting a claim if it includes charges applied both under historic terms and current terms. Start the claim for the historic charges first and raise a seperate claim for the charges applied under current terms once the outcome of the Banks appeal against the original judgment is made known.


Budgie

[TANZARELLI]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Some were modified prior to the test case though don't forget, the cloaking had begun before this started.

[McHeist]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Just a quick note - Buisness Claims are still being processed by the Financial Ombudsman Service. They are not querying any of the charges historic or not.

[Amethyst]

Re: Tuesday 8th July - Latest News on the OFT v Banks Test Case

Thanks McHEist.