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BANK CHARGES BANK CHARGES BANK CHARGES THE RESULT IS IN!!!!!

26 replies

RTKangaMummy · 24/04/2008 12:34

THE OFT HAVE WON SO FAR

OP posts:
MerlinsBeard · 24/04/2008 20:20

found this on Martin lewis site

.....

What happens next?

On 22 May 2008, there will be a case management meeting; at which point it's possible the banks will put in an appeal. Until then, all cases remain on hold. As explained above, my hope is, not long after that, the regulator will lift the hold on reclaiming that was apparently put in place to 'protect consumers' from inconsistencies.

Yet now the law is clear and binding - bank charges are required to be 'fair' - so hopefully it will soon allow people who think they're legally unfair to reclaim again, after all, the banks are still charging these charges!

If it's on hold, why put in a reclaim now?

Simple, the statute of limitations says you can only claim back six years' worth of charges in England, five in Scotland. The longer you leave it, the less far back your reclaim goes... as many people have had lots of charges stretching back over years, this means if you don't put a claim in sooner, you're less likely to get the old ones back.

Plus hopefully when the FSA ends the waiver on reclaiming, it means you'll be ahead in the queue, and should be dealt with more quickly.

What if my case is already on hold?

We?re still waiting for the FSA to end the waiver; as explained above, my hope is that this should happen in the next couple of months. Until then, sadly, you?ll just have to keep twiddling your thumbs. As always, all news will be included in the weekly email.

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