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| | | | | | | Alliance & Leicester Successes **Existing Successful Claims Only *NO* New Threads Please** - Contact a moderator to move your thread | Welcome to The Consumer Action Group
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The Bank Action Group
Before beginning to claim your bank charges be sure to read the FAQ by clicking the link above. Read it carefully and also read as much of the forum material as you can manage before you start claiming your bank charges refund.
You will have to register before you can post or view the materials which may assist you in reclaiming your penalty charges: click the register link above to proceed.
To start viewing messages, select the forum that you want to visit from the selection below. Understand what you are doing and you will be able to Reclaim the Right more effectively.
Why don't you come and introduce yourself in the Welcome section at the top of the forum. Then have a look around the rest of it.
Do not post or start claiming until you have read the entire FAQ section and step by step guides and you have a good basic idea of what to do and of the layout of the forum.
Good luck claiming your bank charges. We strongly suggest that you register under a UserID and not your own name |  | | 
20th August 2006, 09:05
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#2 (permalink)
| | Basic Account Customer |  Re: Credit lists and interest
claiming the interest seems complicated so i and my girlfreind didn't bother as it usually doesn't addup to much, and if you go for the contractual rate you get more than enough to compensate you for it  A New Way of Looking at Interest Why is no one claiming the contractual rate of interest???
to find out about any defaults they may have put on your credit record go to experian and order the £2 report, it's hard to find as they try to hide it to make people to pay for the more expensive ones.
you just send a printout of date of charge, what charge is for, how much charge is, and any interest yuor claiming, total claim amount
hope this helps
__________________ Rbs £114 + contractual at 29.84% I won total=£125 no laughing it's a win Don't moan about it DO SOMETHING ABOUT IT  | 
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21st August 2006, 18:51
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#3 (permalink)
| | Basic Account Customer | Re: Credit lists and interest
Quote: |
Originally Posted by dchambers Hi
I'm just starting to amend the form to retrieve my Alliance bank charges
I know how much they owe me as I have the statements but have just noticed that you have to claim the interest
I haven't a clue how to work this out
I also dont know if they have me on the bad credit list
How do I find this out?
Can anyone help me on this? I have tried to look up these queries but my head is in such a mess that I could be looking in the wrong places
Also do I send copies of my statements or can I just list dates and charges on an ordinary letter?
Diane | It may well be that the interest is small but it is surprising how it adds up.
To calculate the interest (simple method).
Find out the interest rate applied, it may be in the terms and conditions but in any event the bank is obliged to tell you.
CH = the charge taken by the bank lets say £35
Int = the anual interest rate. Lets say 7%
Days = the number of days between the date of the charge being taken and the date of this calculation.
CH*7/100/365*days= the interest charged
If the interest is added to your outstanding debt then the next time the interest is calculated by the bank it will charge interest on the Charge plus the previously calculated interest i.e compound interest. If you wish to aclculate that (compound interest) you will need to determine the date(s) on which the bank charge the interest and do the above calculation with the interest added to the charge before each calculation is done.
In reality while it may be worth doing the Simple Interest calculation the additional time taken to do the series of Compound Interest calculations is probably not worth it unless the charge was first taken some time ago.
If you get to the stage of claiming via the small claims procedure in the County Court (e.g. via MCOL moneyclaim on-line) remember to add the statutory 8% interest to the total taken by the bank i.e the charge Plus any interest they charged you. The 8% statutory interest is not instead of reclaiming the interest the bank charged you, it is on top of it.
Bad Credit list
The Bank should tell you if they have you on a bad credit list, if they refuse you can use the Data Protection legislation to force to do so. Certainly if they have made such a report to a credit reference agency the agency will tell you.
Last edited by Aitken Brotherston; 21st August 2006 at 18:54.
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3rd September 2006, 02:21
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#7 (permalink)
| | Site Team | Re: Request for payment of charges sent
There are different methods of dealing with interest, and there is no easy answer to that. There are spreadsheets in the bank templates library that help, but I think you should do some more research on the site, including the links in post 2 of this thread. You can certainly add any new charges on to the LBA though, whether you decide to add interest now or not.
__________________ to discuss any health, fitness or relationship issues. Using the Consumer Health Forums helps support CAG Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007 Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06 Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007  Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional. | |
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3rd September 2006, 14:57
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#8 (permalink)
| | Basic Account Customer | Re: Sending LBA in on Monday
Quote: |
Originally Posted by dchambers I'm about to send my letter before action letter in to the Alliance & Leicester on Monday the 4th September
I had the ususal response from them to the preliminary letter
I sent in the spread sheet for dates of charges but didnt include the interest
I know I read somewhere on the site about including the interest on the court letter but cant find the info about the LBA
Do I include the interest in this one and do I add further charges on to this whichhave been taken since the prelim letter went in or do I save all these for the court letter?
Please help I dont want to do this wrong | Diane
The bottom line is that you are claiming back what the bank has unlawfully taken from you. Charges and any interest on them are therefore all claimable. The only thing you need to do is to be able to identify the interest you are claiming back.
To test this, imagine your claim goes to court, you are standing in front of the District Judge and (s)he asks you to justify the interest part of your claim. If you can do that you are safe.
If you discover additional charges/interest at any point in the process up to the court hearing, there is no reason why you cannot include them. Once the judge has made his/her rulling, that particular action is closed and any further charges/interest would have to be the subject of a new claim.
It is most unlikely that you will have to go to court but you should always prepare as if you will even at the preliminary and LBA stages of your action. | |
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10th September 2006, 20:13
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#13 (permalink)
| | Basic Account Customer | Re: Reply to LBA from A&L
Thanks for info
I'll have to wait till Thursday for money to go in bank to send £120
so I'll send it on the 14th day which is the 18Sep
Let you know how I go on  | |
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15th September 2006, 18:41
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#17 (permalink)
| | Basic Account Customer |  Re: Got paid so sending in court letter & need help
Thanks
Will try it | |
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dchambers V Alliance & Leicester ***WON*** 
Request for payment of charges sent 
