How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ash Your Own Question

Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I retired in 2001,deposited over £100,000 with Llyods/tsb,persistant

Resolved Question:

I retired in 2001,deposited over £100,000 with Llyods/tsb,persistant pressure from the bank persuaded me to invest over £100,000 in a safe/low risk portfolio.Within 12 months they had lost approx 30,000.I phoned to complain(which they recorded,but subsequently said I had not wished to complain) perhaps they thought I was calling to congratulate them on losing 30G.They did nothing and I told them I was going to move my portfolio if they did not respond,they did not,so i moved it. Despite many complaints over the years I got no response. In 2012 I was advised to contact the financial ombudsman,over the last three years this has been back and forth,the ombudsman has said that I should have complained earlier or should have known how to complain,even though noone at the bank had told me how to,and it was now out of time.Can I sue the bank?
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

For now please when did the final amount they lost take place?

Customer:

In 2012

Alex Watts :

Then yes you can bring a claim. You have 6 years from the date of breach under the Limitation Act 1980

Alex Watts :

You can issue proceedings by going to: www.moneyclaim.gov.uk

Customer:

sorry I meant 2002

Alex Watts :

Oh I see.

Alex Watts :

If its 2002 then it is out of time.

Alex Watts :

You have 6 years from the date of breach to bring an action

Alex Watts :

This means you needed to do it by 2008

Alex Watts :

As its now 2015 sadly you are 7 years out of time

Alex Watts :

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest

Alex Watts :

Can I clarify anything for you about this today please?

Customer:

Even though I had complained to the bank in 2002 about performance,lack of communication,etc of which they have acknowledged but dispute that it was a complaint.

Alex Watts :

Yes sadly. The clock starts ticking from date of breach.

Alex Watts :

I am sorry.

Alex Watts :

The Limitation Act is quite strict. If you had been a day or two out a Court may be sympathetic but sadly you are 7 years too late.

Alex Watts :

I am very very sorry indeed.

Alex Watts :

If you had been in a coma or something the Court may have given some grace.

Alex Watts :

But extensions to the Limitation Act are few and far betweeb

Alex Watts :

* between *

Alex Watts :

Can I clarify anything else for you?

Customer:

It appears that because I did not Know the law and the bank was not forth coming about how I should complain,I am the one to stand the loss for the incompetent actions by the bank. Although not in a coma I retied on health grounds due to a genetic illness that has now led to cancer.

Alex Watts :

Indeed. I am very sorry. Just because you retired sadly that is not enough

Alex Watts :

I know its bad news and I really feel for you. It really is not the answer I want to give you, but I have to be truthful

Customer:

Many thanks

Ash, Solicitor
Category: Law
Satisfied Customers: 10915
Experience: Solicitor with 5+ years experience
Ash and other Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice