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UK|Banking|Litigation|Report|Introduction
Banks and bankers no longer enjoy the status of being automatically trusted as professionals. That is a statement of fact, proved (even more) during 2021 but also right up to the date of this updated page by the huge amount of Litigation being conducted against Banks. Many millions are at stake and Litigation Funding is now playing it's part for the larger businesses who can afford to pay the premium for those insurances. However, there are a great many business bank customers or ex customers, who cannot pay large fees and large premiums for Litigation Insurance. That inevitably means many bank customers are attempting to do DIY Litigation. But, DIY Litigation can be very dangerous for the bank customer and their own case. Bank customers will be emotive. Then their verbal complaints or inaccurate facts or case law with ill judged statements or 'pleadings' can easily be manipulated by banks to strengthen the Bank's claim. We have also seen from many enquiries, how bank customer's verbose complaint/s can then also lose the bank customer defences which were present before the bank customer spoke to or wrote to the Bank with poorly constructed complaints. From the enquiries we receive we have seen some very ill prepared 'pleadings' from bank customers who were seeking help. IBAS are not funded by banks or Government and never have been. IBAS is a membership organization which is funded by membership and by donation. Protecting families and the family home is a major priority for IBAS when we offer membership. We also require specific and accurate facts to properly advise and represent our members. A great deal of time and effort is spent on behalf of those we represent, obtaining 'background' information and also investigating matters in depth - which we know profit motivated organisations just would not do. What IBAS offers is a very effective, low cost, tailored membership which provides direct assistance. IBAS assistance and advice has kept many in their homes and kept their families together. Otherwise, those families may have been destroyed. I do not say that lightly, especially at this time of the year and whilst Covid 19 continues to disrupt all our lives. IBAS help has been available since 1992 for business bank customers. An email to IBAS is completely confidential and requires so little - just your time. But, that email could save your home, your assets and your family. If you are looking for someone you can actually trust for your Business Banking issue, complaint or dispute and for them to provide their experience to help you - then look no further. Eddy Weatherill IBAS ceo ---------------------------------------------------
Bookmark this page - IBAS is very experienced and 'up to date' in UK Business Banking matters including litigation assistance
In 2002 IBAS had already obtained in excess of £21 million in refunds, write-offs and write-down of bank debt from successful investigations of UK Business Banking Disputes and complaints since 1992.
How can we help you? - email us your 'situation'
IBAS investigate Directors Personal Guarantee Disputes and Debt Claims and can help defend bank legal claims on directors personal guarantee debt claims and help avoid personal guarantee judgment
If you truly believe you have a legitimate complaint against your lender in your business banking dispute or a business banking account debt dispute - IBAS knowledge and our bank information from current and historical case work is essential as we know the many banking litigation 'tricks' that banks will use to defeat customer claims.
TM in his testimonial for IBAS stated
This is a battle that we have won, which could quite easily have been lost had I not joined IBAS. I would recommend them to absolutely everybody - TM Testimonial
--------------------------------------------------- Came across this piece recently:
How optimism bias shapes our decisions and futures [Jessica Mudditt, BBC News, 29 April 2021] Gina Vangelis life has not been easy. As a child, she was bullied; as an adult, she faced abuse, along with the breakdown of two marriages and recurring health problems including being hit by a truck in 2016. Last year, Covid-19 wiped out the 52-year-olds livelihood as a pastry chef. By her own admission, Vangeli looks on the bright side of life. She tends to overestimate the likelihood of positive events happening to her, and subsequently underestimate potentially negative ones. This is known as optimism bias, something that 80% of the global population possess to some degree. Thinking positively is an evolutionary hallmark, because it facilitates envisioning what is possible, allowing us to be courageous and innovative. Levels of optimism bias vary according to our mental state and current circumstances, and there are ways to temper or increase it. Thats good, because a surfeit of optimism can lead to underestimating risk. Understanding where you sit on the optimism spectrum can help you adjust for your bias and maybe even make better choices. Thought this was an interesting article as it demonstrates why exactly LIPs can & do get so carried away in Banking Litigation thinking they have thought everything through (based on what they know and their experience) when unfortunately many just do not have the depth of experience necessary to make the best choices - therefore they over estimate their own position and miss the warning signs.
Better to have IBAS 'in your corner' to bounce ideas off - email IBAS for help
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In our experience, avoiding litigation is even more important now, with so many attempting to defend as 'Litigants in Person' (LIP's) - they will face a 'Banking Litigation Team' - sometimes totalling up to 15 and all working 24/7 if the case reaches court - that 'Team' will not only have the bank's Recovery Team but also Top 10 solicitors advising on strategy along with leading barristers and even QC's (if the case is important to the bank). The 'fire power' used by the bank is very costly and intended to intimidate. Whilst the 'Banking Litigation Team' has not changed in structure or indeed in tactics since our UK Banking Litigation Report was first published (in the Sunday Times in 1997) -and when even obtaining a solicitor 'willing' to 'act' on a case against a bank was almost impossible to find - what has changed is the volume of 'Litigants in Person' attempting to defend against a bank. Many with low resources and very few funded by litigation insurances. If the bank is already moving toward litigation against the customer there will be no choice as the bank customer has no 'control' - and a bank's claim, if successful, may well cost the business banking customer their family home. IBAS advise and directly assist directors, partners, sole proprietors who were business banking customers and now facing business banking debt dispute claims by Bank Litigation. IBAS is the only non-profit organisation which will help and provide practical assistance for business banking customer defending bank debt claim disputes from bank litigation or acting as Litigants in Person.
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I'm so pleased to achieve this exceptional settlement. Thank you again for all your guidance and advice. I know I could not have done it without IBAS investigating the EFG issues in depth and your diligence in making me gather the fine details.
- CW Testimonial
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Testimonial:
'Thanks for firstly remotely assessing my bank debt claim complaint/s and then saving me time and money by advising me exactly how to achieve a successful outcome, without solicitors being involved. Your remote working and knowledge based systems are remarkable. IBAS has saved me many thousands of pounds by obtaining all the facts, then advising me 'safely' on an effective resolution (without wasteful or ineffective 'face to face' meetings in the current Covid 19 'climate'). Brilliant result all round and very safe and cost effective for me. Carry on your good work'
- AS Testimonial
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'I found IBAS to be Impressive & professional with no nonsense. I followed IBAS strategy totally and the result was spectacular. Thanks for putting my life back on track and saving me a bucket load of money I cannot thank you enough. I would now start with IBAS and ignore all the others who are 'selling' an imitation of these guys but without IBAS knowledge!
- AT Testimonial
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We've been asked many times: does or will IBAS help business bank customers with bank litigation? The answer is YES, IBAS does help business bank customers with their bank litigation - we have done so for many years. Our experience is that laying the groundwork' for a successful litigation starts early by preserving defences which then exist, ready if or when required.
That's because Banks will ' bully' in a number of ways to destroy the customer's case. That preservation should start at Demand or even earlier if the customer has already made a written complaint to their Bank. Banks do not 'play fair', they are capable of many underhand tactics - particularly if they see your case as a potential threat to the bank. Banks will destabilize any threat where possible and they start at the first point of contact - the customer.
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IBAS has assisted in many cases which have been won by our members after litigation in the County Court, High Court and the Court of Appeal - IBAS experience is essential for any business banking customer in a debt claim or dispute with a bank.
Diminish-Defend-Defeat-UK-Business-Banking-Debt-Demand-Claim
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IBAS UK Banking Litigation Report was first published in 1997. At that time our report evidenced the volume of banking cases which were legally aided (84%) and we did not have a figure for LIPs (Litigant in Person). Since that date driven by successive Government's desire to cut legal costs, legal aid has all but disappeared for the majority facing business bank claims for debt repayment.
IBAS Report on Bank Customers in Litigation - This report was compiled from 1200 questionnaires we sent to individuals known to have been involved in litigation in October 1996 - from the completed responses the report was then completed in early 1997.
When IBAS obtain confirmation of a full write off of a BTL shortfall debt claim for our member that result is always very pleasing for us too. When we obtain an exceptional £150k write off we are jubilant - as CL said:
“This is amazing news. Thank you for all your hard work. I am relieved at long last. Couldn’t have done it without you! I am so grateful to you for having been there for me. Once again thank you for your expertise and support throughout.” - CL Testimonial
Email IBAS & see if we can help you too
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IBAS featured on BBC TV, BBC TV News, ITV News, Meridian TV and Sky TV News since 1992 and has contributed banking editorials and business banking articles for Sunday Times, Times, Daily Mail, Daily Express, Telegraph and Daily Mirror.
BBC Testimonial for IBAS - Your Money Not a moving account
Independent Banking Advisory Service (IBAS) - IBAS launched in 1992 as a specialist unincorporated business banking membership organization assisting bank customers with UK business banking account loan disputes and business banking debt disputes with their bank.
Last Modified: 27th April 2022 |