Bong v Morgan Stanley - **WON**

[Guest bong]

she probably wouldn't see them!!!!!

[angry cat]

Your probably right!

Anyhow, just keep on going.

 

I personally am waiting for a response from the charming Ms. Maschio...maybe she needs new glasses? Normally she responds quite swiftly, but in this instance, my letter has obviously been sent to her superior, for anlysis possibly Stephanie Oliver; line by line, word by word.

 

If you are reading this Morgan Stanley, HELLO:) We are not going to cave in, there are 70,000 of us, so do not play the Bully in the playground game!

 

Good luck Bong and Andrew1-

Just be brave and stand up for your 'Rights'.

 

Love AC

[Guest bong]

Yes and HELLO:) from me too VICTORIA:shock: !!

 

AC I've just had another peep at your thread and can't seem to see whether you've posted your dates on it. Sorry if I've missed it. When is their 28 days up for filing their defence in your case?

[Guest bong]

Just remembered I had my statement from MS today showing another £12 charge. Know it's post-court claim but think I might just include that in the amount required to withdraw my claim aswell.

[angry cat]

Hi Bong,

I think that the correct way to add the additional £12, is to amend you Claim.

 

Maybe, you should pm a mod to obtain their opinion?

 

Love AC

[Guest bong]

Please could a mod advise on this. I've tried pm-ing a mod yesterday with no reply. I know I'm impatient but want to get this reply out.

[angry cat]

Try seminole, Bookworm or Tinkerbelle.

 

Incidentally, I received a cheque in the post this morning but...

it was incorrectly made out?

The surname was correct, but guess was the christian name was?

VICTORIA and my name is not VICTORIA!

 

Someone needs glasses!!!!!!

 

Love AC

[Guest bong]

Just remembered I had my statement from MS today showing another £12 charge. Know it's post-court claim but think I might just include that in the amount required to withdraw my claim aswell.

 

Have now pm-ed two mods but no relpy. Can anyone advise on this please? Would it be 'extortionate' to ask them to repay a new charge since court action in my settlement?

[Bookworm]

Not extortionate, but irrelevant.

 

Your claim is for the sum specified, you can't change it now unless you amend your court claim with the courts, which cost £35, non-reclaimable. You do the maths.

 

The other possibility is when it comes to settlement is to say: "Oh, I have incurred x amount of charges since, how about paying that up as well, might as well, otherwise I'll only have to start a new action as soon as you've paid this one, whaddayasay, huh, huh? Go on, go easy on yerself, why dontcha?" or words to that effect....

[Guest bong]

That's what I was thinking of trying. Thanks v. much Bookworm.

[Guest bong]

Am sending this today (didn't get around to it last week)

 

 

10/10/06

Dear Ms Maschio

County Court Proceedings (claim no. xxxxx)

Account no. xxxxxxxxxxxxxxxx

T/y for your letter of 28/9/06

As at today's date I will accept a cheque of £1,007.75 to withdraw my Claim. May I remind you that I am claiming county court interest, which should be added to the above figure for each further day that it remains unpaid, at a daily rate of 17 pence.

In order to prevent a future action for the penalty charge of £12 debited to my account on 22/9/06, you may consider it economical to refund this at the same time.

When the cheque has cleared I will withdraw my Claim at court and notify you of the same. I do not agree to your settlement terms and I consider that they would not be granted should this go to a court hearing.

Y/S [bong]

 

Lets hope it won't be long now..............

[angry cat]

Bong,

The daily rate under s69 County Courts Act 1984 is 8%-

doesn't that rate work out at just over 0.22p per day?

AC

[Guest bong]

Hi AC,

 

my claim is charges & interest on charges £764.52, 8% interest since 2001 is £158.81 and court costs £80.

 

Have you had a new cheque from Ms VM yet?

[Guest bong]

Woooohoooooooo!!!!!!!

 

YES!!! Letter today:

 

Dear [bong]

 

Without prejudice etc..

 

"Morgan Stanley are prepared to make a payment (by cheque) of £1,019.92 in respect of your claim. This includes county court interest to date [yep, she's even added on one days worth since I wrote!] and, as a gesture of goodwill, a refund of the £12 fee applied to your account on 22/9/06."

 

Terms - I will sign and date a copy of their letter and return it, I will write to the court as soon as payment is cleared in my account withdrawing my claim and send a copy to MS counsel.

 

Nearly there.......come on cheque.......

[Guest bong]

Letter on its way:

 

Thank you for your letter of 11/10/06.

I enclose a signed and dated copy of your letter of 11/10/06 confirming my agreement to the payment offered.

I look forward to receiving a cheque by return and thank you for resolving this to my satisfaction.

 

Must say I'm not too happy about signing their copy letter though - its on two pages and the second page where you have to sign doesn't contain the main text of the settlement terms. I have qualified my signature though with a statement to say it refers to the settlement terms dated 11th October, as I've now had three separate letters with unacceptable terms in them.

[natsmanc]

Hi Bong

 

Well done, congratulations!!!

I've beebn offered a refund today but I want it in the form of a cheque and not credited to my account. Your thread has been a great help...thanks

 

Nat

[Guest bong]

Thanks

[Guest bong]

Received letter and defence from Morgan Stanley today (as they are required to file a defence by today and although we have agreed a settlement they are still filing a defence to prevent judgement being entered against them).

 

So I am just posting the (summarised) contents of their defence for information

 

THE DEFENCE

 

1. Defendant denies that it acted improperly or unlawfully - specifically that it debited the account unlawfully or in breach of the claimant's rights in respect of the account.

 

The Agreement

 

2. Claimant applied for c/c on xx date. Claimant signed credit agreement confirming agreement to be bound by the terms and conditions of the MS credit agreement (copy attached)

 

3. The Agreement entitles the defendant to charge default fees if the claimant commits breaches of the Agreement (CURRENT terms and conditions attached)

 

4. Reasonable steps were taken to bring the fees to the claimants attention during the course of the claimants application for a MS c/c.

 

The fees

 

5. Claimant breached the Agreement 24 times between xx date and xx date as described in the attached schedule ("The Breaches").

 

6. Defendant admits that 24 default fees were debited to claimants account by the defendant between xx date and xx date in respect of the breaches.

 

7. In each case the defendant was authorised by the claimant to debit the fees in respect of the breaches pursuant to the Agreement

 

8. It is denied that the fees are penalties or otherwise unenforceable

 

9. The fees represent a genuine pre-estimate of the loss that would be suffered in the event of a breach of the Agreement by the defendant. Defendant has at all times complied with its obligations under the Agreement by continuing to provide credit facilities and associated services to the claimant, including an online account centre, access to customer service representatives, convenience cheques and other services. The defendant will rely upon authorities such as

 

a) White and Carter (Councils) Ltd v McGregor (1962) AC 413

b) Export Credits Guarantee Department v Universal Oil Products Co and Procon Inc and Procon (Great Britain) Ltd (1983) 1 WLR 399

c) Indian Airlines v GIA International Ltd (2001) EWHC 2361 and

d) Jeancharm Ltd (t/a Beaver International) v Barnet Football Club Ltd (2003) 92 Con.LR 26

 

in this regard.

 

10. Further or alternatively the fees are not unreasonable, extravagant or unconscionable when compared with the losses, costs and other expenses that were incurred by the defendant as a result of the breaches. The defendant will produce evidence of its losses, costs and other expenses in support of this position. Accordingly the fees are properly recoverable as liquidated damages.

 

Statement of Truth & signature

 

Attachments

 

1. Schedule of fees and breaches

2. Copy of application form

3. Current terms and conditions and credit card agreement regulated by the Consumer Credit Act 1974

[Guest bong]

Cheque received from Morgan Stanley (Glasgow - Paul Mulholland) today!!! :D All in order (£1,019.92 including county court interest to 11/10/2006). Also very nice letter - last paragraph "Thank you for taking time to provide us with your comments. We do take customer feedback on board as an integral way to improve our procedures and products."

[stoppaRed]

Bong- what happened? Does it end here? I was on the edge of my seat with this and then............................

 

Nothing, nowt, de nada.

did you get your money?

[stoppaRed]

Sorry, Missed The Few Extra Pages

[Guest bong]

LOL