Curlyben,

I'm hearing stories about banks putting claims on hold because of cases that are already going on. Saying they are waiting for the out come of a 'test case'. Got any information on this?

Bluerose, yes there is a test case going on involving the OFT and 8 Banks, so the is a stay of action while this is decided.
This doesn't stop you starting the process, it just means that court action will be put on hold.
This test case does NOT affect credit card claims though.

Okay. Thanks. I'll pass that information on.

Just a quicky here.
The OFT's test case is well and truly underway.

It's just a case of sitting back and waiting for the judgement.
OFT Test case - Google News

Then the real fun begins as this case is simply the opener to see if the OFT can enforce the UTCCR against the banks for their "services".
What ever the outcome of this first case I believe that it WILL be appealed and possibly end up in The House of Lords, the HIGHEST court in the land.

Even more quicky... the OFT test case (high court case) result is out tomorrow, so good luck Ben;)

Well it been a hectic 12 months in the world of Bank claims, but they have finally had their last domestic appeal to the UK's highest court, The House of Lords.
Judgement most likely delivered after the summer recess, so some time in October..

This is merely the first part of a potentially two part case, but if the banks have any sense, especially with the current financial crisis and the huge amount of bail outs, they will throw in the towel and refund people wrongly charged..

Either that or they will waste even more tax payers time and money with yet another round of test cases centred around the actual unfairness aspect..

As a rough guesstemate the total value of refunds due, within the "normal" 6 year limitations window, is approx £20 Billion.

Yes seems like a lot of money and a few years ago was an unheard amount, but today it's a different matter.
in context the Global financial crises has cost upwards of £10 TRILLION ($15 TRILLION) so far.
This includes all of the bail outs, failures and grantees offered.