D
- How did you find the process overall? Wearying and frustrating.
- Was there anything that surprised you? How much leeway the FSO gave the bank. E.g. the FSO would set a deadline, the day of the deadline the bank would write to the FSO with some issue requesting extra time. The FSO would give in to whatever they required. This happened on quite a few occasions. I actually wrote to the FSO about this at the time.
- If someone was preparing for the process, is there anything specific that he should do? Make your own data access request to the bank in advance so you have all your information to hand.
- What was the attitude of the bank (did they play hard-ball or were the more conciliatory? did they engage in brinkmanship? threaten to abandon the talks, etc.) They refused to enter mediation, no matter how many times I requested a face-to-face meeting. Point blank. They made a number of offers during the process and put time limits on these offers.
- How well was the meeting facilitated/mediated? N/A
- How long did it last? N/A
- Was it stressful? N/A
- Did you go alone (with your spouse/partner) or did you have a professional advisor present? N/A
- How legalistic does it get?
- Basically - any general advice would be appreciated. Get your account checked by a professional and take legal advice if you can before you enter the FSO process. Make sure that the bank doesn't omit essential documentation from their submission. Check through everything they submit to the FSO with a fine tooth comb.
I'm going to respond to each below.....
I believe the FSO worked in favour of the bank.
There were periods of up to 6months where I heard nothing from the FSO. I've head anecdotaly at the moment that they have an 18month+ wait.
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