Those impacted by trackers should pool their resources

Moved from the very specific AIB 3.65% FAQ

Brendan Burgess said:

So what should I do?
There is strength in numbers. One person needs to take a case to the High Court. If the High Court upholds that case, then the others can take cases of their own as the ruling of the High Court would set a precedent.

User Bungaro on Askaboutmoney has set up a group to take such a case.
Don't spend your €1,615. Send it to the group to fund the legal action. If the action is successful, you should get your money back. You should also get a cheap tracker backdated to when you came off the fixed rate. You should also get compensation for the distress caused by being overcharged.

Click to expand...

@Brendan Burgess - is this not the best advice for a number of the remaining cohorts across all banks who are planning to take their claim to the FSO as the next step? Would they all not be better to get together into groups of impacted customers and take a test case to the courts and see how they get on? Even if they just set up a crowd funding type structure, would it not show the banks that there is a genuine risk that they will be taken to court and therefore try and address the issues before they get there. There would have to a commitment from the person taking the case that they would not settle unless all impacted customers would be corrected and compensated accordingly

If nothing else, it may keep pressure on the banks, central bank and finance committee ....

hi all
for anyone who has been affected and would like to join our group, can you please email us at [email protected] so we can keep track of who is in the same boat and more importantly, who would like to take this further. anyone who has sent a pm to Bungaro already or any new people, can you please let us know in the email what your username is as well as your normal details.
strength in numbers
thanks

Is this just for AIB customers

Yes I am afraid.