Abby -v- First Direct | Settled Iin FULL

Abby · 1st June 2006, 14:18

I have requested all my statements from First Direct and got them (via DHL and did not pay a penny for them), I totalled up the amount and wrote to them asking for the money back and got a refusal, I am now about to send a letter saying I will take them to court if they do not pay me.

What I would like to know is does it make any difference if I closed the account? I had the account from August 2000 to June 2003 but could not keep going with the high charges and they would not let have a large overdraft so I swapped banks to one with a higher overdraft. Will this make a difference?

Thank you

Abby.

barracad · 1st June 2006, 14:21

No it doesn't make a difference.

Please read the FAQs there is a lot of information in there.

dinghy · 1st June 2006, 14:23

Makes no difference what so ever... They've still effectively taken your money. It's still yours to get back...

Abby · 1st June 2006, 14:30

Thanks for the welcome.

I have found the FAQ's you were referring to, I originally thought you meant the user maintenance ones and wondered what on earth that had to do with anything!

Abby

Abby · 5th June 2006, 16:33

I think I have miunderstood something here. I received my statements from First Direct and totalled up that I have paid them £1806.50 and I wrote to them with the prelim and LBA. However, reading the other threads (to which I am quickly becoming addicted) and FAQ's I believe I can claim interest as well. I understand I cannot charge the 8% interest unless it goes to court but am I right in thinking I can charge interest on the charges?

If so, do I need to start the whole process again or just work it out correctly and sue for that amount?

Cheers

Abby.

Janet-M · 5th June 2006, 16:41

From what you have said you look like you have done everything right so far .Yes,you only need to claim the interest when you start your claim so until that point you don't need to work it out.When you start to put your claim in there is a spread sheet to help you.

dinghy · 5th June 2006, 17:23

Quote:

Originally Posted by Abby

I think I have miunderstood something here. I received my statements from First Direct and totalled up that I have paid them £1806.50 and I wrote to them with the prelim and LBA. However, reading the other threads (to which I am quickly becoming addicted) and FAQ's I believe I can claim interest as well. I understand I cannot charge the 8% interest unless it goes to court but am I right in thinking I can charge interest on the charges?

If so, do I need to start the whole process again or just work it out correctly and sue for that amount?

Cheers

Abby.

There is a lot of discussion as to the possibility of adding the interest charged on the charges... however it would appear to be untested as of yet (although I would be very happy if someone could prove me to be wrong in this)

In your position if you are happy with the way these are calculated and with the argument advanced to reclaim this then first things first I personally would probably do the calculation and see how much you are looking at reclaiming.
Most people on here do not bother as the amount may be negligible, the calculation not necessarily simple, and the arguments for and against a little convuluted.

For example IMHO the continuing interest calculation may be extinguished if the account goes into credit or partially extinguished if the balance goes above the running total of the charges...(if that makes sense!)

Although there is also the argument regarding 'unauthorised' borrowing by the bank of your funds...

If you decide these charges may be worthy of adding to your claim, then IMO it probably wouldn't be neccessary to go right back to the start, but perhaps giving them a further 7 days in a letter advising them of the amendment to your figures would be in order...

Abby · 5th June 2006, 18:20

Thanks, I think this will get to the moneyclaim stage at least so I will add the interest on then.

Abby · 5th June 2006, 18:54

Ok - Not only am I unable to work out interest it seems I cannot tell the date either.

I sent my Data Protection Act letter on 14th May 2006 asking for 6 years worth of data what I got back starts from 18th August 2000, surely it should start from the 14th May 2000?

Am I wrong or just plain stupid?

Bookworm · 5th June 2006, 19:49

Well, not stupid as such... But didn't you say you only had the account from August 2000?

Lord knows I don't like to side with the banks, but even I can't really fault them for not providing info going back BEFORE you actually banked with them...

.

Abby · 5th June 2006, 19:52

Oh dear, I am a complete nit.

Please let the floor eat me.

No wonder they got away with charging me so much for so long.

monkey_uk · 5th June 2006, 19:54

Abby · 5th June 2006, 20:02

It does mean there is another bank out that owes me money though!! Lloyds TSB I am coming for two months worth!

Bookworm · 5th June 2006, 20:06

Atta girl! That's the spirit!!!

.

Janet-M · 6th June 2006, 20:18

Is this post of the month ?

Abby · 7th June 2006, 09:05

I await my award and little icon that I can add to my posts!

monkey_uk · 7th June 2006, 09:17

Quote:

Originally Posted by mjanet

Is this post of the month ?

I think it's a toss up between Abby's post and the one from the user who sued himself/herself!!!

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