LBA letter?

asa_carter · 2nd October 2006, 14:48

Hi

I recently opened an A&L account and have always been in credit but in August my balance was around £10 in credit. They transfered £15 to my A&L savings account and charged me £100 for going £5 o/d.

I sent the preliminary letter one week ago and today got the standard reply saying the OFT's ruling was for credit cards etc.

Should I send the LBA letter as that states that they failed to repond to my letter?

Thanks

Asa

bill-k · 2nd October 2006, 14:57

Asa, you just need to alter the template letter(s) to fit your own situation. Just add "satisfactorily" to it, so it reads "failed to respond satisfactorily." Check the rest of it fits with your situation (including your name & address AND THE DATE !!)
If their recent reply to your prelim. suggests that is the end of the matter, then send your LBA.
HOWEVER - your LBA should state exactly what it is you're claiming from them, so make sure you have got this straight first. Are you claiming interest ? If so, at what rate ? (I prefer Contractual interest Compounded daily)
If - and probably when - they force you to issue a SCC claim, then this claim should be essentially the same as you claim in your LBA.
HTH.
Bill

asa_carter · 2nd October 2006, 15:08

Hi bill-k,

Thanks for the quick reply. As far as I can tell, they haven't charged any interest. my prelim letter was sent the 26/09. Should I wait the full 14 days to send the LBA or can I send it sooner?

Regards

Asa

bill-k · 2nd October 2006, 15:24

Asa, you might as well give them the full 14 days, unless you're in a desperate hurry. As they've replied, then you should be able to send the LBA now in response to their reply.
HOWEVER, if I were you, I'd read up on claiming interest, first - I think you'll be amazed at how much they have REALLY charged you by keeping your money all this time. It's not so much about claiming back whatever interest they charged you (same as me - not much) - it's about actually CHARGING THEM interest on the money they kept from you and made money on themselves.
It's a big thread, but I'd check out "A New Way of Looking at Interest" first.
Don't let them keep that money - it could be quite a lot.

Bill.

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