OFT/Banks to make Refunds of over £149 million

[di30]

Re: OFT/Banks to make Refunds of over £149 million

This one has gone quiet!

Hope they are making payouts to the ones they should be paying out on!

[di30]

Re: OFT/Banks to make Refunds of over £149 million

Only just seen th ethread but will keep an eye on it now thx

Your welcome.
It will be interested to know of any payouts they been making, as i have not heard of many as yet.

[lookingforward]

Re: OFT/Banks to make Refunds of over £149 million

Only just seen th ethread but will keep an eye on it now thx

[di30]

Re: OFT/Banks to make Refunds of over £149 million

Anyone else heard anything further on this?

[pompeyfaith]

Re: OFT/Banks to make Refunds of over £149 million

With this in mind:

"Since October 2008, under Section 77A of the Consumer Credit Act 1974 (CCA), lenders have been obliged to send periodic statements to customers. These must contain specific information and wording. A creditor failing to provide the periodic statement as required is not entitled to enforce the agreement, and the debtor is not liable to pay interest or default sums, during the period of the creditor's non-compliance"

What is the score if you was hounded and taken to court and they got judgment on a credit card that could not be enforced?

[pompeyfaith]

Re: OFT/Banks to make Refunds of over £149 million

Do the banks have a duty to check past closed loan accounts?

What is the actual wording that should have been on post-contractual information, statements and arrears notices?

[di30]

Re: OFT/Banks to make Refunds of over £149 million

I take it the banks are not in a great hurry to send our more cheques lol!

[di30]

Re: OFT/Banks to make Refunds of over £149 million

Interesting thank you.
I used to have my mortgage with them but did not have arrears then,and we re-mortgaged to chelt and glos from them in 2007.

Not sure who are involved though, but maybe this is to do with the same thing loo x well done on your refund x

[Loopyloo]

Re: OFT/Banks to make Refunds of over £149 million

Today we received letter from Chelsea advising we will be receiving a refund of arrears administration fees as they were incorrectly charged to some customers since Jan 2009, the refund will be credited to the mortgage account. Not sure if this is connected to the recent press article or if it is something else.

[di30]

Re: OFT/Banks to make Refunds of over £149 million

Me too LOL!!

[Loopyloo]

Re: OFT/Banks to make Refunds of over £149 million

I would just hate to miss mine in the post

[di30]

Re: OFT/Banks to make Refunds of over £149 million

I do know that this is being passed on to the FCA from the OFT on the 1st April.

No official lists enclosed yet and not sure on a timescale.....

[Loopyloo]

Re: OFT/Banks to make Refunds of over £149 million

Anyone received any correspondence on this yet or know when the banks will start contacting people?

[di30]

Re: OFT/Banks to make Refunds of over £149 million

.......to add the repayment was 229 a month, as shown as owed on the above notice posted, that is just one months repayment, so it didnt go into another month to make it £458, you know what I mean lol...

[di30]

Re: OFT/Banks to make Refunds of over £149 million

a litle cropped sorry lol......but are these details notices what they should be back in 2009 does anyone know please? thanks.

Niddy do you remember our posts over at MSE when i said we were issued with a default notice? Check out the threads, the notice i mention is the one i posted up yesterday, and that is a default notice isnt it? I was shocked to have received this notice within one month of missing just one payment.
http://forums.moneysavingexpert.com/....php?t=2559453