Equiniti/Lloyds TSB Owe me over £3000 in savings they have failed to repay me how Can I sue them?

Question

I completeda 5yr sharesave scheme on 1st July and asked for a refund of my savings , I sent them the form mid june and expected to get my money back 1st of July or soon after.

I am still waiting despite phone calls and 2 letters to their CEO who has not replied.

I wanted my cash as the shares were cheaper to buy on the open market , i was gonna buy them and sell them as soon as the price got better. If I had done this and sold today I would now have made a profit of £500 but as I did not get my money I could not buy the shares.

Since their CEO hasnt bothered his a*se to reply can anyone suggest how I can recover the money they should have paid me and could I claim the£500 loss I have made due to them not fulfilling the contract we had. Any suggestions as to the easiest and cheapest way I could do this would be gratefully recieved

It makes me so angry that these companies are only too eager to bill you if you go1 penny overdrawn for a day yet can keep £3+K of my money for over 1 mnth

Answer 1

talk to dominic littlewoods or watchdog or ofcom.

Answer 2

find a solicitor, banks have to reply to them. also make ur solicitor sign a contract to recover all of his fees from the other side.

Answer 3

You certainly have good grounds for a complaint.

Under UK regulations you must go via the Financial Ombudsman Service [FOS] involving a solictor is unnecessary and pointless at this stage.

If they (the FOS) decide that you lost out because the bank didn't operate 'fairly' they WILL order them to pay you the money. Such an order is like a court decision and enforcable in law.

All UK banks are required by law to have a complaints procedure and MUST (and I quote)

"send the consumer a prompt written acknowledgment (if you have not been able to resolve the complaint on the spot, or by the end of the next working day);

■ ensure you keep the consumer reasonably informed about the progress of their complaint; and

■ send the consumer a “final response” within eight weeks from the date your business received the complaint (if you have not already resolved the complaint by sending a response which the consumer has accepted in writing)."

You obviously feel that they haven't done any of these things, so I suggest contacting the Ombudsman direct... it costs nothing apart from the 'phonecall and they'll even call you back if you are worried about that cost.  They will call the bank for you if you wish and willl get a lot quicker response than writing to the CEO who is probably on holiday in the Seychelles anyway.

The banks HAVE to deal with the ombudsman by law... if they don't, they get fined.... big time.

Contact details, forms and all the info you want can be found via the link below.

Please feel free to drop me an email if you want further info.