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"Unfair" bank charges - outcome of ruling?
5 Answers
I'm sure that those of us claiming back unfair bank charges were told to wait until Jan 2008 for a verdict (from some ruling body).
However, my bank haven't been in touch, either to stick two fingers up at me nor give me my money back.
What was the outcome of the investigation/deliberation?
T.I.A.
However, my bank haven't been in touch, either to stick two fingers up at me nor give me my money back.
What was the outcome of the investigation/deliberation?
T.I.A.
Answers
1 to 5 of 5
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"Bank charges reclaiming history was made in late April 08, when a High Court judge confirmed that the charges ARE subject to fairness rules. Now the Office of Fair Trading (OFT) is assessing whether they�re actually unfair, and the banks have been given leave to appeal.
In the meantime, reclaiming�s still on hold, yet if you�ve not started your claim you should still try and put it in and if you�re in hardship the hold mightn�t apply to your claim."
http://www.moneysavingexpert.com/reclaim/oft-b ank-charges
In the meantime, reclaiming�s still on hold, yet if you�ve not started your claim you should still try and put it in and if you�re in hardship the hold mightn�t apply to your claim."
http://www.moneysavingexpert.com/reclaim/oft-b ank-charges
Q. What will happen to claims put to the county courts?
A. The courts may continue to handle bank charges cases that were submitted before the test case announcement or online before 13 August 2007, as usual. Unless, one of the two parties involved, in other words the reclaimer or the banks, applies for a stay. However it's almost certain that every bank will apply for a stay, asking that the case isn�t heard until after the final decision.
Yet that doesn't mean the case will then be put on hold; you have a right to object to the stay and argue it should be heard now. There are a variety of reasons that can apply. The most obvious is that by waiting you would be left in undue financial hardship.
Individual judges are likely to react differently to such objections to stays. I�ve no doubt some will allow cases to be heard, while others won�t. It�s likely to be luck of the draw. If your case is heard, the banks may well decide to settle beforehand, so as not to rock the boat before the main test case (where they�ll collectively have their huge legal big hitters).
Sadly, arguing against a stay won�t necessarily be easy, and probably shouldn�t be attempted without detailed research, preparation and an understanding of the court process. Therefore, for most people, the stay will have an impact and your case will be on hold until after the test case.
The win on the 24 April does not change this position as yet. Until the FSA ends the waiver sadly you�ll just have to keep twiddling your thumbs.
(From the www.moneysavingexpert.com website)
A. The courts may continue to handle bank charges cases that were submitted before the test case announcement or online before 13 August 2007, as usual. Unless, one of the two parties involved, in other words the reclaimer or the banks, applies for a stay. However it's almost certain that every bank will apply for a stay, asking that the case isn�t heard until after the final decision.
Yet that doesn't mean the case will then be put on hold; you have a right to object to the stay and argue it should be heard now. There are a variety of reasons that can apply. The most obvious is that by waiting you would be left in undue financial hardship.
Individual judges are likely to react differently to such objections to stays. I�ve no doubt some will allow cases to be heard, while others won�t. It�s likely to be luck of the draw. If your case is heard, the banks may well decide to settle beforehand, so as not to rock the boat before the main test case (where they�ll collectively have their huge legal big hitters).
Sadly, arguing against a stay won�t necessarily be easy, and probably shouldn�t be attempted without detailed research, preparation and an understanding of the court process. Therefore, for most people, the stay will have an impact and your case will be on hold until after the test case.
The win on the 24 April does not change this position as yet. Until the FSA ends the waiver sadly you�ll just have to keep twiddling your thumbs.
(From the www.moneysavingexpert.com website)
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