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THE MORIARTY TRIBUNAL 2nd March 1999 Wow! What a response. Thank you for all your contributions. Watch this space for further news. ( Response so far from them ) |
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Actual case |
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I'd like to tell you about my
dealings with a large Irish Bank. A number of years ago I used to
own a small business in According to a written agreement
from the Bank the loan was to be debited once a month from my account.
I quickly brought this to the bank's attention and they said they would look
into it, several weeks passed and I had not been contacted by the Bank but
they had continued to return my cheques and finally closed my bank account. When I made contact with the
particular branch I was dealing with they told me it was no longer in their
hands and had been passed on to their debt recovery department. Now
this was around 12 weeks after I first noticed their mistake, and when I
pointed out the mistake to the debt recovery department it looked like I
might get some satisfaction. I had at this stage a total debt of £4500
with the bank. Breakdown of this debt of £4500,
£950 bank charges, £700 overdraft, £2850 loan balance. My business
suffered considerably with the restrictions on my finances at this time,
having lost my credit facilities with my suppliers because the bank had
'bounced' my cheques. I was unfortunately left with no option but to
cease trading. Now a cycle began of me
receiving letters demanding payment of the debt every six months or so,
always with a different name on the end of them. The interesting thing
is I don't think I ever dealt with the same official twice, it's almost as if
the buck doesn't want to stop with anybody. I would make contact with
the Bank, ask about the mistake on the bank loan, and as usual it would be
the first time it had been brought to the attention of the official dealing
with me. This cycle has lasted for several years, but recently a bank
official turned up at my parent's home late one evening inquiring about
payment of £6000 now due on personal guarantee. My elderly parent
found this very intimidating. I immediately contacted the official and
arranged to meet with them at their office, well need I say it, but again the
bank's mistake on the loan repayment was news to them. As far as they
were concerened it must have happened at branch level, and they would look
into it and contact me. The original debt of £4500 has
grown in to over £6500, a break down of the increase is not available for I
have not received any account details since the debt was handed over to the
debt recovery department some years ago. I am still patiently waiting
to hear from somebody from the Bank, it's over 1 year since my last meeting. |
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Banks® plc, in |