8% Interest at LBA Stage

[PKea]

Having read a few threads re MNBA, they seem to settle at the lba stage. So you wont get the 8% interest will you?
Is it possible to change the LBA letter to state that you will be adding the 8% to the total as of now, and if they want to settle they must now pay that amount as well?
Any thoughts

[Spiceskull]

Unfortunately not. The s.69 8% interest is allowable at the discretion of the courts - if you don't actually raise the claim you do not get the interest.

However, if you are feeling brave enough to claim contractual interest, as the bank charges you, then the prelim and lba are the stages at which to do this.

[roydosan]

No that won't work. You can only add this when you issue the claim with the county court

[PKea]

I am at the stage when i sent my Data Protection Act Subject Access Request request
They replied (@45days) with a list of charges (£900) and a couple of copy statements along with my £10 cheque. Also an offer of £420 for goodwill.
I am going to send a lba on the basis that they didnt send all the info as requested and havent fulfilled my Subject Access Request request.

As I only have their list of charges and to get the contractural interest i will need all my statements.
SO in my LBA do i state the amount as per their charges as a initial amount to be confirmed when they send all the info?
Any thoughts?

[Spiceskull]

Basically yes. But first you send the preliminary request for repayment, the lba is 14 days later.

You need to include the charges that you know about, and make a note that the figure will be amended once they fulfil their obligation to provide you with ALL the information requested with the Data Protection Act request.

[PKea]

I thought i sent the lba based on the fact that they haven't provided the Data Protection Act Subject Access Request information within the 40 day time limit?
The action i will be taking is for them to disclose all info, which they havent done.

[Spiceskull]

Their non-compliance with your Data Protection Act request is an issue for The Information Commissioner. Your lba needs to let them know that you will be reporting their failure to comply, and also that you claim is estimated at this point - and will reflect the true value of the penalties once they have complied.

You may want to try and get all your statements online - HSBC goes back six years, so you can actually work out exactly what you are claiming be refunded...

[Glenn UK]

Originally Posted by roydosan

No that won't work. You can only add this when you issue the claim with the county court

Roy

Im sure this is not correct, CCA interest is only there for claims where there is no contracual rate of interest hence why it can only be awarded by the courts.

Our contracts do have a contractual rate, you dont need the court to determine what the rate is or indeed if you can claim any interest, that is if you accept the reciprocity and mutality concepts.

In the same way your bank or cc company charge you interest on money you borrow, they dont need to go to court to enforce that because its part of the contract. THereofre you are chargingn them in the same way they are charging you.

You then add interest at the prelim and lba stages

Originally Posted by bankfodder

http://www.consumeractiongroup.c o.uk/forum/general/7252-new-way-looking-interest.html

Glenn

[PKea]

This is the letter I am going to send to them:

Dear Ms Claridge

ACCOUNT NUMBER: xxxxxxxxxxx

I am in receipt of the documents that you have supplied in response to my Data Protection Act Subject Access Request dated 15th July 2006. The disclosure of personal data is incomplete in that at least the following documents are missing.

1) You have failed to provide a complete list of transactions and charges.
2) You have provided no notes, or documents relating to any legal action between you and myself.
3) You have provided no notes, or documents relating to instances of manual intervention.

This is not an exhaustive list by any means, it is just an example of some of the information I am missing.

Accordingly, I have to tell you that you have not yet complied with your obligations under the Data Protection Act 1998.

The time for compliance with my request has now expired. If you do not comply fully with my Subject Access Request within 7 days, I shall apply to the county court for an order to enforce compliance, together with damages at the discretion of the court.
I have also re-enclosed the £10 fee along with a copy of the original request.

Yours faithfully,

What do you think? Its based on 'Alanfromderby's thread

[CrispDust]

Yep that looks OK but also add that you will be making a complaint to the Information Commissioner if they don't comply within 40 days.

You should apply contractual interest at your prelim letter.

[roydosan]

Glenn,

I take what you say about the contractual interest but it is open to interpretation and I think most people would rather play on the safe side, follow the FAQs and claim for interest they have actually been charged and then the 8% when the court claim is raised.

Roydosan

[Spiceskull]

The letter is fine, and yes, it must mention that you will report them to the Information Commissioner.

Regarding interest you do have two choices: contractual interest, which is claimed at this stage, or s.69 8%, which is claimed ONLY when you raise your claim in the courts.