Claiming on a Business account? Lets join forces?

[photoman]

Originally Posted by Aweltywi

Hi all.....

Just signing on the dotted line to join this thread.

I have a NatWest Business a/c and overdraft with them as well.
Usual concerns about them calling the o/d in etc and closing the account but have got in place an alternative business account.

Still missing a few statements but looking in the region of £3500 before interest.

Couple of Q's

1. Do we send the request to the same address as normal or is there a special Business Dealings address ?
2. Any readers or subscribers gone the whole way yet and had a result on the business side - just for moral support !

Now fired up and ready to go ..........

In future, any business dealings I do will be through a personal account.
I would advise anyone to do the same.
Forget opening another Business account, just run everything through a personal account, until such time as the Bank cottons on and asks you to switch to a Business account.
I would then just be inclined to show them your middle digit and go bank elsewhere !!
I do not believe you are actually obliged by any regulations or laws (as a sole trader, that is, don't know about Limited companies etc) to run a business through a Business account.
It's just that it's more to the Banks benefit because they can make more money from you, (they try to justify this by to kicking up a fuss about the number of increased transactions on a Business account, and so subsequently feel they can charge you all kinds of additional monthly fees, item fees etc).
It sucks that not only do they screw more money out of Business accounts, you are then not protected by Consumer laws either !!

So what benefits do we get in return for using a Business account?:

a/ A more fancy chequebook
b/ Possibly a higher overdraft facility (but even then at Business rates which are often higher anyway)

wow........bargain, sign me up,.... and would you like my first born too ?? !!!

Anyhow in response to your 2 questions>

1/ Re address, Will be same address as Personal accounts, If you send to the Registered office address ( find it on NatWest Forum) it will get to relevent department. Once they start responding to you, if you notice a different address, then you can post there instead if prefer.

2/ Regards successful Business claims...yeah loads of em ! Just try the search facility on here and look them out.

[innocent]

Agreed Photoman.......


And indeed "Shelty" vs NatWest WON today!!!!!!



Innocent

[scott150663]

hi all

im Claiming £37000 from nat west (business account) so ill join this thread as well

can anyone tell me if it will make any difference as i have sent my MCOL with the template from a private account rather than a business account

i.e. consumer law has been mentioned

thanks for any advice u can give

regards scott

[AJG]

37 Grand

and u are still in business

Good luck with the claim and keep me posted

[scott150663]

Originally Posted by AJG

37 Grand

and u are still in business

Good luck with the claim and keep me posted

lol yes and doing very well ( nat west are totaly crap at helping new business's . they are only interested in taking as much money as possible)

there reason not to lend me money was I GREW TO BIG TO QUICKLY!!!!!

unreal

[photoman]

Scott
How have you arrived at that figure?
Is it just charges for returned items?
Have you been careful not to include any legit charges such as arrangement fees for agreeing overdrafts etc (still outrageousley high....but unfortunately not covered by this action)
ALSO....does your £37k include the interest you are charging them?
If so, what rate are you using? Statutory (8%), or Contractual (ie authorised or unauthorised lending rates equivalent to their own) ?

ALSO.
Yes, you could encounter problems with having used the Personal account particulars in your claim, Consumer regulations do not apply to Business accounts. I would suggest (also bearing in mind with a claim of this size ) that you should file at a court on an N1. It gives you much more room to put in details. I think you can withdraw your MCOL and resubmit it as an N1. Alternatively, I think you can amend or resubmit particulars on your current MCOL. I do not know the procedure for either, but maybe PM one of the site helpers or Moderators, and they should be able to tell you the process.

[AJG]

Originally Posted by innocent

Agreed Photoman.......


And indeed "Shelty" vs NatWest WON today!!!!!!



Innocent

Why the delay on your Business Claim

You seem to know what you are doing - Can you provide any tips

[photoman]

AJG
Was that question directed to me?
If so, here's my answer.
Slowly, slowly catch a tiger !!!
I've been online a couple of months, at first overawed, but slowly as I've got more submerged into this site, and read around elsewhere, my plan of action has become a passion. My realisation of the effect the banks behaviour has had on my life has slowly dawned upon me, and I've become determined that they will not get away with it.
I've spent my time productively; researching, reading, posting, gleaning all the info I can, and making sure I know as much in advance about each and every step. If I find something interesting here or elsewhere, I look into it further. I copy and paste interesting bits into sectioned folders on my PC, do library or google searches on anything I'm not sure on, look up legislation, case laws, new angles and arguments, and have built up a resource of info that will hopefully have me prepared for every step before it occurs.
Do not leap into this action lightly, or be misled into thinking the Banks will be a rollover. Yes, they have not yet gone into court yet. Yes, they won't admit to things, yet seemingly cave in every time? But they will test you every step, and are looking for any flaw in your claim.
As it happens my steady approach is working to my benefit. At first my claim although significant, was not really adequate at redressing the balance. Now as my confidence and knowledge have grown, so has my claim. I now know about lots of various regulations, statutes and case law based upon Business claims, I know about the arguments for and against Contractual interest, about section 32 of statute of limitations and lots of other issues. More importantly I feel I understand them sufficiently to be confident to use them, and even more importantly I feel I know how to deal with any counter arguments.
For the record, my claim is in full swing. I have recently re-issued a new LBA, now based upon over 20 years of abuse, and with CCI, and will be issuing my N1 next week. In the meantime I am not just going to sit back and wait for a reaction. I plan to always be one step ahead all the way, and already have stuff prepared for my AQ, my court bundle, responses to their defenses, and whatever they throw at me.

[innocent]

I think the question was directed at me.....(my signature )

I totally totally agree with photoman again....

Previously.... I had also a large personal claim going on with NatWest too (now won) and I was (probably unnecessarily) nervous about a business and personal claim running together....

I was nervous about filing for an ex limited company; albeit the ex business bank account now seems to of been set up as a sole trader account by accident....

And back in September; the discussion was all about "Contractual Interest"..... another delay, whilst I learnt....

And of course I had 3 claims running together without any wins..... now 3 wins

NOW.... three statuatory wins under my increasiing money belt and I have recently posted:
innocent vs monument (barclays)
innocent vs lloyds tsb mastercard
innocent vs lloyds current

All 3 are at the N1 ready to file stage!
*I think Im ready to start innocent vs lloyds current next week,
*Monument have sent me an offer which will delay me somewhat
*Lloyds Mastercard.... I have some converns about some contractual rates I sent in the LBA which may have been incorrect


I will kick these 3 off next before I re-examine my business LBA again.... (can't wait really NatWest is sooooo much easier I believe than lloyds or barclays)


Like Photoman says..... slowly slowly catch ur monkey....

I am older, wiser, more knowledgable, more confident, richer, more relaxed, and undoubtedly will ultimately put in a larger claim than I would of done....

Watch this space eh

Innocent

[darling]

Hi guys I am watching this thread with much interest! We have a small-medium sized business and I am looking at preparing for claims at a later date. So at the moment I am watching this thread and supporting you all.

Good luck guys

darling

PS A further update on my situation in the near future.

[photoman]

Innocent,
Thanks for your post , sorry for responding on your behalf....but at least we are in full agreement about how to go about this, ie; take it seriously, but don't be intimidated by them, and your rewards will not only be financial, but also satisfaction.
..........otherwise....I' ve always got those compromising photo's of the Bank Managers wife to use !!

[scott150663]

photoman

thanks for your reply i will speak to mcol on monday and will post ther advice in case it helps anyone else.

answers to your questions are as follows

1. Q...how did i arrive at that figure
A.... only claiming for cheques &ddi's
2. A... only legit charges yes no arrange ment fees etc
interest.... ( actual charges Are 26010 Interest 10280 +4000 mcol fee
i used a template on moneysavingtips to work out the interest to charge(all my charges are between Jan 01 &May 03 so alot of interest to be reclaimed)

thanks photoman for replying it a great help to be pointed in the right direction

thanks again
Scott

[AJG]

Thanks innocent

Was not being funny, so please do not take any offence

There were a number of claims you have won and a business a/c claim which appeared dormant for 6 months - now know why

Any advice given will be greatfully received

This is my 1st claim and is a business a/c for c£9k, with BoS so expecting a battle, Of which I want to win. When this is out the way do expect to start 3 other business claims- all sizeable.

Does anyone know if it applies to interest penalties when repaying a business loan early - 3 months interest another c £16k claim with Banking Ombudsman who are "homers" - Complete breach of OFT 620 regulations - seeing if the regulatory body with sort that out but not much hope.

Thanks

[miapia]

Hi

Im claiming from the BOS. basically theyve siad they are not giving me bak my 2800 pounds because it was lawful what they were doing and that it doesnt apply to business customers. Im now on the LBA. Is this different for a business account? can anybody show me the templates for business customers.

[AJG]

Try this

http://www.consumeractiongroup.co.uk...sic-guide.html

[miapia]

thanks. meant to say i am in scotland. If it goes to court will i have to do a summary cause or an ordinary action because its 2800 pounds