I have known Mr. Spicer and his family for over 20 years and to see the struggle up close is hard and even harder to imagine. I have had two incidents involving banks that I found "deceiving". One involved my wife's car loan, where she was given the wrong montly payment amount. It should have been noticed immediately, but it continued for more than two years. Eventually, she was approached and told that she was in danger of defaulting on her loan. It was suggested that we convert the "delinquent' amount to a short term loan to avoid repossession. It.just felt like a scam..We learned a lot from that incident. The other involved First Caribbean Bank 15+ years ago regarding our mortgage. About 6 years into the 15 year mortgage, I was doing an excercise with an insurance agent, using our mortgage information. We discovered that our payment table was incorrect and that at the end of the "bank payment period" the mortgage would not be "satisfied" and that it would still require an additional 10 payments. I was hoping that they would have waived this amount, as we were the ones that brought it to their attention. Especially, as they would have already received more than twice the amount of the principle. They did not do that. Instead, their suggestion was to adjust the monthly payments in an effort to "catch up" on the payment table schedule, so that the loan would be satisfied "on schedule". We moved the mortgage to a competing bank.
I truly hope that The Spicers win this case and receive the compensation that they are seeking. It has been miserable for them for many years and the sad part is that this took place in Abaco, a family island, where everyone knows everyone... it really seems as though this colossal mess could have been avoided...It was not as if the bank was going to lose, in fact they stood to make out quite well, It just seems devious...Good Luck Malcolm!