LINKS: Please note that information re links is given without any liability. The information is intended to be helpful.

BANK CHARGES COMPLAINTS .  

The Office of Fair Trading have commented on the Supreme Court Ruling 25th November 2009 in favour of the banks. See http://www.oft.gov.uk/news/press/2009/137-09 . The full copy of the Supreme Court Judgement is at http://www.supremecourt.gov.uk/docs/uksc_2009_0070_judgmentV3.pdf and the Press Summary at http://www.supremecourt.gov.uk/docs/uksc_2009_0070_ps.pdf  . The Supreme Court had to decide NOT whether the banks' charges for unauthorised overdrafts were fair but whether the OFT could launch an investigation into whether they were fair.

The Office of Fair Trading website should be consulted for their latest update. Use the OFT search for 'bank charges' to monitor updates www.oft.gov.uk .  http://www.oft.gov.uk/news/press/2009/144-09 (December 2009 update)

THE FINANCIAL SERVICES AUTHORITY (F.S.A.) has removed the deadline 'waiver' for banks to deal with customer complaints with immediate effect from 25th November 2009 see http://www.fsa.gov.uk/pages/Library/Communication/Statements/2009/bank_charges.shtml  . See the FSA website for information (March 2010) on unauthorised overdraft charges. http://www.fsa.gov.uk/Pages/consumerinformation/product_news/banking/unauthorised_overdraft_charges_/index.shtml

The FSA has produced a paper on 'Delivering Better Regulatory Outcome' in December 2009 http://www.fsa.gov.uk/pubs/other/oft_fsa_jap.pdf This is joint between the FSA and OFT and covers bank charges and various regulatory matters that are ongoing.

Govan Law Centre (based in Govan, Scotland) has useful information on many consumer issues including bank charges (December 2009) http://govanlc.blogspot.com/2009/12/bank-charges-update-where-are-we-now.html

Money Saving Expert (Martin Lewis) has regular update advice for those wishing to reclaim bank charges for hardship reasons http://www.moneysavingexpert.com/reclaim/bank-charges-hardship and http://www.moneysavingexpert.com/reclaim/oft-bank-charges

(see Debtwise view and fuller information in Disputes/Claims/Liabilities Section)

CLAIM MANAGEMENT COMPANIES : If an individual wishes to use a claim management company (which normally gives free advice but will charge for success in any claim) please ensure any claim handling company is regulated by the Ministry of Justice at www.claimsregulation.gov.uk . NOTE: The Ministry of Justice have warned claim management companies http://www.justice.gov.uk/news/newsrelease170209a.htm about misleading statements (17th Feb 09)

CONSUMER CREDIT ACT AGREEMENTS : There is a lot of forum comment regarding possible unenforceability of CCA Agreements and Claim Companies offer to look at an Agreement (normally for a fee). There is ongoing legal work concerning the validity of CCA Agreements where a lump sum has been added up front or incorrect interest has been quoted. Debtwise strongly recommends that great care be taken before paying a fee for a CCA Agreement to be 'checked'. If anyone has any views please feel free to email adv@debtwise.co.uk in order that information can be shared.

DEBT HELP ADVICE

See below for advice in individual areas. The Government Insolvency Service leaflet  'In debt - dealing with your creditors' http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/indebt-web.pdf (leaflet in PDF format) is essential reading and covers all options including debt management plans, IVA, Bankruptcy and implications of each option.

INDIVIDUAL VOLUNTARY ARRANGEMENTS ( IVA) : See Free Debt Counselling for more details or contact the UK Insolvency Helpline 0800 074 6918 www.insolvencyhelpline.co.uk . Send email to adv@debtwise.co.uk for general information help sheet.

SCOTLAND: Trust Deed Advice http://www.trust-deed.co.uk/what_is_a_trust_deed.php (Voluntary Arrangement in Scotland)

Links to other advice websites :  www.cccs.co.uk  www.nationaldebtline.co.uk www.citizensadvice.org.uk www.adviceuk.org.uk www.payplan.com (for more details see Free Debt Counselling).

YOU AND YOUR BANK ACCOUNT: From budgeting to borrowing Moneymadeclear from the Financial Services Authority www.moneymadeclear.fsa.gov.uk has facts about getting the best from your bank account. (Download leaflet from website or call 0300 500 5000)

BANKRUPTCY : As well as free debt counselling, anyone with major debt problems should consider all options, including not only the IVA (above), but also Bankruptcy. The Insolvency Service advice on bankruptcy and IVA's is available from http://www.insolvency.gov.uk/ .

Please also have a look at Piggy's Bankruptcy Information website with lots of bankruptcy related information and advice  www.piggybankrupt.co.uk

DEBT FORUMS (for exchange on information, views etc on debt related subjects)

Consumer Action Group : www.consumeractiongroup.co.uk

Debt Forum UK : www.debtforum.org.uk (Debt Forum is a support board allowing people with debt problems to 
share their experiences with each other. Members help and offer mutual support and advice to others facing bankruptcy and similar debt
related issues).

GENERAL ADVICE : MONEY SAVING EXPERT...Martin Lewis who often appears on GMTV www.moneysavingexpert.com provides free financial guidance and has a mailing list. Compares credit card offers and rates and is helpful to those searching for a better financial deal.

CONSUMER ADVICE : Consumer Direct national helpline www.consumerdirect.gov.uk 08454 04 05 06. Also www.whatconsumer.co.uk has information about consumer related issues, including consumer credit act rights, debt management and debt collectors.

COUNSELLING : To find a counsellor to go through personal problems, which may be associated with debt or other problems, The Counselling Directory may be able to help. http://www.counselling-directory.org.uk/debt.html

DEBTWISE holds a Consumer Credit Licence - 478241

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