H.O.L Test case appeal. Judgement Declared. ***See Announcements***

[MilkTrayMan]

Yes, it's on Sky news. . . Great result. .

The result was sooo obvious uk

...It's what happens NEXT that will decide things in the long term methinks...

 

In the meantime, can I possible recommend watching Judge Judy on ITV2

...Just to add some 'reality' flavouring to the legal proceedings??...

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[MilkTrayMan]

This would involve the legislature seeking to influence the judiciary - a violation of the doctrine of the separation of powers, one of the cornerstones of the constitution.

Is there any chance of U providing a link to the UK's (...England's preferably) Constitution for us Aequitas??...

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[MilkTrayMan]

'Typo' on THREE letters of a 4-lettered acronym JC??...

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[MilkTrayMan]

Aren't agreements defaulted first then terminated?

That would depend on the cause.

It's a bit like footie...A DEFAULT is akin to being given a YELLOW card.

...But some offences carry an instant RED card...

Or, if U prefer...

If U contravene a condition of your Employment Contract at work, U MAY receive a Written Warning.

...Or be sacked for Gross Misconduct.

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[MilkTrayMan]

Methinks someone types slower than even I do...

...Just get on with it Ladidi...Does it REALLY matter WHO/WHERE the info comes from??...

It's the 'little peeps' Vs the M.I.B. @ the end of the day...

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[MilkTrayMan]

...A run on the 8 banks damaging the already damaged economy can only be a good thing...

Some peeps pensions which they have scrimped + scraped ALL their working lives to acrue, would be devasted...

If such action were to be advocated, perhaps it should be limited to one at a time, until the other Banks saw sense...

The threat to force the de-mutualisation of the Nationwide B.S. would be MY choice to start with...

...They have NO external shareholders to provide dividends for + so have NO excuse for their behaviour re: unlawful Penalty Charges...

[MilkTrayMan]

...Hope the comment by MTM will not stop the posts!

:confused::-?

[MilkTrayMan]

...Sounded like you said it does not matter who the posts came from about the case conference - but it does.

Au contraire ma petite banniere rouge...

 

I was concerned NOT about the source (...a single small reference would have sufficed methinks), but about the time taken for the info to appear.

 

No doubt, the info appears in full on LB anyway...

 

FWIW...I have no personal axe to grind with LB at all, there are many capable + knowledgeable peeps who regulary Post there, as well as on other websites.

...I am just wanting justice/help for ALL the 'little peeps'.

 

As CAG is a major first port of call for NEWBIES, it would make sense to help them learn to navigate this torrid sea that we are forced to sail.

Then once they have gained their 'sea legs'...what they do is up to them.

 

 

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[MilkTrayMan]

MTM, I agree, de-mutulisation would be a very good threat. How do you go about doing that?

Board Members are elected by Members of the Building Society.

Anyone who has an account with the Nationwide is entitled to cast their vote for whoever is standing for election.

(...apparently it's called Democracy??...)

 

However...

 

To deter 'Carpetbaggers' + prevent what has happened with other 'get-rich-quick' building society de-mutualisations, ALL NEW account holders, as a condition of acceptance, have to sign away any right that they personally may have to any proceeds from a de-mutualisation, the monies instead going to a Charity that Nationwide has set up.

 

This has previously negated ANY candidates, to MY knowledge, standing for a position on the Board on a de-mutualisation ticket.

 

The following Thread gives a more accurate viewpoint of Nationwide's current attitude to those Members who may have temporarily fell on hard times...

http://www.consumeractiongroup.co.uk/forum/mortgages-secured-loans/145565-nationwide-tightens-its-lending.html

 

 

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[MilkTrayMan]

Credit Union Direct - idea to reality, an online Credit Union

 

ABCUL

 

 

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[MilkTrayMan]

...I like the idea of a CAG credit union, but seriously, I (and most of us) barely have time to be here as it is at the moment let alone administer something like that.

A professional organisation has a professional workforce.

If CAG set up a Credit Union...even by proxy

Methinks peeps would expect it to be administered by a fully accountable FULL TIME employed professional person/people...

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[MilkTrayMan]

Economies of scale play a part also.

A FULL TIME person's wages would have to be paid by the Credit Union Membership.

The question is...

Could that be done + STILL make it a financially attractive alternative to peeps Mainstream Banking, to encourage Membership??...

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[MilkTrayMan]

Crikey I'm not suggesting CAG set one up...

Why NOT??...I have no objection to U being given the credit for having done so.

 

I personally think that it's a VERY good progressive idea.

It offers a 'One Stop' Consumer Service.

I think that it should at least be looked at for it's feasability.

 

Many of today's socially minded organisations/societies have started this way.

 

 

 

 

That could take at least 2-3 years...

HOW do U know that would be the timescale??...:o

I'm sure that there MUST be an 'off-the-shelf' template that could be obtained/followed?...:-?

 

 

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[MilkTrayMan]

...I don't have a list, but this should be monitored over the coming months also, as the banks change their charging structures.

 

Anybody got ANY rates for any of the big 8?...

The following info is the most recent about Nationwide B.S....

 

Unauthorised overdraft charge...............................................£20 per month

Charge for transaction unpaid - insufficient cleared funds.........£30

Charge for cheques guaranteed - insufficient cleared funds......£21.50 per transaction

 

Overdraft interest rates.......EAR

Authorised overdraft rate........9.9%

Unauthorised overdraft rate...24.9%

(applied to whole balance)

 

 

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[MilkTrayMan]

There is authority for reclaiming the contractual interest applied to the account, though. I haven't tried it myself, but I've seen threads where it is being reclaimed.

 

Statutory interest is a given once the claim issued and reclaiming contractual interest seems to depend on the circumstances and the opinion of the Judge.

Awww Bless...A 1yr old NEWBIE...

http://www.consumeractiongroup.co.uk/forum/cases-library/106112-sempra-metals-irc-july.html

 

 

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[MilkTrayMan]

Perhaps further thought to the following Thread MAY once again be topical + appropriate car2403??

can we have a new section in the forum for links to claims with contractual interest

 

...Methinks even the most apathetic NEWBIE Claimant is recognising the extra profits that the Banks are raking in when they are doing the basic maths between what they are STILL being Charged + what they would be expected to be able to Reclaim with s69 8%p.a. Simple Interest.

 

Perhaps a MORE concerted push for Daily Compounded Contractual Interest would also make the Banks squirm just a little??...

 

 

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[MilkTrayMan]

...i see this as a victory for CAG and sites like it...

£8 is still NOT a true reflection of Banks processing costs.

This smokescreen is just another pathetically feeble attempt to defer the inevitable...

 

The Law is the Law.

...There is NO victory until the Banks are made to realise that they are NOT above it...

 

 

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[MilkTrayMan]

...I had a sneaky idea that this would happen.

 

http://www.consumeractiongroup.co.uk/forum/show-post/post-1490995.html

 

Your linked Post says that U expected a Bank would 'break rank + cough up'.

 

Please correct me if I'm wrong...But Barclays aren't 'coughing up' anything + paying out Claims (...albeit to a £8 figure).

...Or have I missed something here??...

[MilkTrayMan]

I haven't looked in depth at it myself yet

...But noticed this morning that skbuncks has ALREADY given it a rough thumbs down.

 

 

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[MilkTrayMan]

...+ AFTER those 5 days have elapsed...what about the Charges then??...

[MilkTrayMan]

So in effect...ALL Barclays are offering is a two-tier micro-short term O/D facility...:o

Methinks that it is 'designed' confusion, similar to the Mobile Phone Tariffs + what, until recently, applied to Train Tickets also.

It deliberately dis-empowers those 'little peeps' who MAY not have the intellectual wherewithal to understand + serves to keep them within a financial 'bonded slavery' socio-economic system...

[MilkTrayMan]

Sounds like an accurate description of my financial understanding MilkTrayMan :D

U should have read some of my CIMA exemption modules coursework when I was at Uni...

...Typed after I'd been on a night out on the 'pop'...

 

 

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[MilkTrayMan]

The problem is though TheyrCriminals, that that £8 per day Charge is infinitum, whereas the £35 Charge was a one-off Charge.

For those peeps that can least afford to 'catch up' on their debt, this smaller, but more frequent amount, would VERY quickly snowball out of control + cause them to be in an even greater debt than what they would be under the majority of Banks current unlawful Penalty Charging systems...

Let us NOT forget those less fortunate than whatever financial position we may be in ourselves please.

...Cos no matter what, there are plenty of other peeps out there that we should be fighting for, whether they realise it or not.

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[MilkTrayMan]

£8 per uncleared item unlawful Penalty Charge per day X 28 Charging days = £224 (...the single person's Dole money for 28 days is ONLY £242 btw)

 

£35 per uncleared Charge would have to be re-presented SEVEN times in that particular same 28 Charging day period to be MORE expensive.

I suggest that this would simply NOT happen...A couple of times perhaps...but SEVEN??...nah

 

As NO doubt U will appreciate, a person on limited funds would NOT be able to Credit their current account as quickly, nor sufficiently enough, to be able to cover the Cost of the enforced unlawful Penalty Charge, the same as what a person in F/T employment could.

Therefore the original £8 per day unlawful Penalty Charge per uncleared item would continue 'infinitum', regardless of the number of times the uncleared item was ever re-presented, until such time as the O/D was brought back into Credit so as to allow the next months DD's etc to clear.

 

Thus the poor become even poorer...to help finance those that MAY save the odd bob or two under the NEW T&C's...

[MilkTrayMan]

...Barclays will not charge you £8 per day for the same bounced item!! It will charge you £8 per day if you bounce 1 item every single day!...

BARCLAYS' NEW OVERDRAFT CHARGES

£22 for each five-day use of the Personal Reserve

£8 for each guaranteed but unauthorised payment

£8 per day for each bounced payments above overdraft limit (up to five per day)

 

It is the early hours of the morning, but the above is my understanding of the proposed NEW Costs.

I have only briefly looked at the OLD Costs, but on reflection they seem astronomically exorbitant if the person's O/D limit is exceeded...

 

BARCLAYS' CURRENT OVERDRAFT CHARGES

£30 for each guaranteed but unauthorised payment (up to three a month)

£35 per day for bounced payments above overdraft limit

27.5% interest rate when paying back each unauthorised payment

 

At 2nd glance there DOES seem to be a significant reduction per day in the unlawful Penalty Charges aspect...

...That will teach me to check the small print...

 

However...That STILL doesn't explain nor excuse, the STILL unnecessarily complicated + high unlawful Penalty Charges that Barclays have concocted as a replacement, in answer to the financial dilemma's that face it's 'less profitable' Customers.

 

 

 

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