Scottish Courts or Financial Ombudsman?

[Tallcmp]

Hello All,

 

I've just sent off my letter asking for a refund and it's a pretty heft £5143. So I'm thinking about what to do next. Assuming I get a 'pat on the head and go away' letter, I'll send a letter before action. My question is: what action?

 

Me and the bank are in Scotland, so I think I'm stuck with the £1500 Summary Action limit. I don't want to file four separate claims one after the other as I've read a couple of things about the banks insisting that the first £1500 claim is final and/or petitioning the court about the pursuer abusing the small claims system.

 

So the next step up is an Ordinary Action, which really needs a solicitor, could incur hefty fees and carries the risk of losing and paying the bank's costs.

 

I read in The Independent today about the Financial Ombudsman Service and that the bank have paid up in every claim the FOS has intervened in. My understanding is that it will take longer and they don't have any enforcement powers - but it is free.

 

Does anyone have any experience of using the FOS to arbitrate/win a big claim?

 

Or does anyone have any advice about the 'no win no fee' solicitors that are springing up to deal with this? I'd consider sacrificing a 25% commission most of them seem to be asking for if it means getting £4K in one action with a solicitor to do all the complicated court stuff.

 

Thanks for any tips!!

[caro]

Definitely go via the FOS unless you are able to claim in England. You will need to exhaust your banks complaints procedure first, but you should still get interest.

 

Which bank are you with?

 

(Sorry for the embarassingly late response by the way).:o