P.O. BOX 5, FRODSHAM CHESHIRE WA6 6FL
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PRACTICAL
HELP TO RESOLVE DEBT COMPLAINTS & DISPUTES WITH UK LENDERS (BANKS,
BUILDING SOCIETIES & FINANCE COMPANIES) INCLUDING LIAISING WITH
OMBUDSMAN/ARBITRATOR & SOLICITORS. ALSO FREE DEBT
CONSOLIDATION, DEBT COUNSELLING, ENDOWMENT MORTGAGE, OLD MORTGAGE DEBT
ADVICE.
THE LENDER IS TAKING ACTION, WHICH YOU FEEL IS UNJUSTIFIED??...FIGHT BACK !!
HOW TO COMPLAIN (Free Guides are available from the British Bankers Association www.bba.org.uk , the Financial Services Authority www.moneymadeclear.fsa.gov.uk and the Finance & Leasing Association www.fla.org.uk )
Put your complaint in writing, initially to the account holding office. Clearly mark the letter 'complaint', keep a copy of all correspondence. Ask for a written reply within 14 days; include any relevant reference numbers, and also state what action you wish to see taken to remedy the complaint.
If no progress is made write to the Head of Customer Service at the lender's Head Office requesting immediate action and enclose a copy of the earlier letter. Quote the name of any persons you have been dealing with. Request a written reply to be sent within 14 days. If again no progress is made you could request a 'deadlock letter' from the lender to enable you to refer to the appropriate Ombudsman -see ‘Problems’ web page for Financial Ombudsman Service and Finance & Leasing Association information. We also recommend you obtain a copy of all Legal Charge forms/Credit Agreements and if possible correspondence. An application to the lender under the Data Protection Act for your file should cover this, although the cost is likely to be around £10, it is well worth it. If the Lender has produced a Customer Information booklet saying how excellent they are at customer service obtain a copy and quote relative sections back to the Lender if they have breached their own guidelines. DEBTWISE can help!!!
NOTE : It is recommended that dates and comments are put in date order and bullet point form and that the reply covers each point raised.
Alternatively or as well as you could seek legal advice from a solicitor (who may charge over £200 an hour ! ) or PRACTICAL advice from DEBTWISE upon completion of an initial Assessment Form.
Disputes include:
NOTE: The Financial Ombudsman Service prefers that consumers make complaints themselves. From experience it is considered that help is needed in order to ensure a complaint is focused and that there is documentary evidence. The intention of DEBTWISE is to assist in trying to ensure a complaint is presented in the best way possible to ensure it can be dealt with fairly.
ALSO COMPLAINTS AGAINST SOLICITORS - help with compiling complaints and referring to Legal Complaints Service www.legalcomplaints.org.uk
The legal complaints system has undergone a number of changes over the last few years and these will hopefully culminate in 2010. The Legal Services Board (Office for Legal Complaints) will then take over. In the meantime the systems at the LCS, which appears to have no 'Mission Statement' or commitment to users, leave much to be desired. The introduction of the new Solicitors Regulation Authority - Code of Conduct took effect from July 2007 and this appears to have weakened the ability of clients to complain about costs/risks/benefits. Any feedback from persons making complaints to the LCS would be welcome. Please email adv@debtwise.co.uk . (please note that at no stage am I able to provide legal advice - please see 'About Debtwise' for my background').
Please also note that a website has been set up which is to independently survey LCS complaints. Please refer to www.lcs-test.co.uk
SOLICITOR.INFO - You be the judge : For information on obtaining solicitors and leaving comment. http://www.solicitor.info/aboutus/
NOTE : The joint Legal Complaints Service/Solicitors Regulation Authority 'Plan for Complaints Handling 2008-2009' was rejected by the Office of the Legal Services Complaints Commissioner ( www.olscc.gov.uk ) .
DON'T BE BULLIED BY LENDERS:TAKE ADVICE !!
BANK CHARGES/INTEREST CHARGES
email adv@debtwise.co.uk for information sheet (updated to March 2009) giving reference articles with suggested letters. The Financial Ombudsman Service should be used as a reference point see http://www.financial-ombudsman.org.uk/faq/bank-charges.htmlThe OFFICE OF FAIR TRADING have criticised bank charging which is not transparent. They have taken a test case against the banks to court. An Appeal Court ruling in favour of the OFT was made on 26th February 2009. For the latest update on bank charges either go to www.oft.gov.uk and use the search site for 'bank charges'.
The Financial Services Authority (FSA) has (26th February 2009) extended the deadline for UK banks to deal with customer complaints about unfair overdraft charges, until 26th July 2009.
For Interest and Bank Charge disputes certain companies can re-calculate interest but they do charge. DEBTWISE does not focus on interest complaints, but can help in the drafting of correspondence to the Lender. Banking Liaison Group provide an interest checking service and help with calculating and obtaining refunds web site link www.bankexperts.co.uk/interest/index.htm . Also Bank Action Group have been set up to fight punitive and unauthorised bank charges web site link www.consumeractiongroup.co.uk . Another web site set up to fight penalty charges is http://www.penaltycharges.co.uk/guide/ Which? Magazine have information on their website www.which.co.uk/bankcharges . GMTV have advice which is shown at http://www.gm.tv/index.cfm?articleid=21859
Various daily newspapers started campaigns to encourage people to complain about bank charges. The Daily Mail website www.thisismoney.co.uk has devised letters to help in writing to banks challenging charges also also covering possible court action against the bank. This action can be taken online using www.moneyclaim.gov.uk . Please note that any action can be costly and if an action is defended then specialist advice may be needed. NOTE : June 07 LEGAL CASES RE BANK CHARGES ARE POSING A PROBLEM - email adv@debtwise.co.uk for information sheet or see www.consumeractiongroup.co.uk for up to date information.
Claim Companies : Whilst claims for refund of bank charges and miss-sold PPI can be done by quite easily by an individual, some companies have been set up to make claims. Please note that you should check what fees are being charged. The following company gives free advice and works on a 'no win, no fee' basis. RBC Claim Management http://www.bank-charges-claim.co.uk/contactUs.html .NOTE: The Ministry of Justice have issued a statement warning claim management companies making misleading statements. http://www.justice.gov.uk/news/newsrelease170209a.htm (17th Feb 09)
Other information see : Motley Fool information website have guidance and feedback about bank charge disputes. Link : http://www.fool.co.uk/index.htm?ref=Yo