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I initially sent off my claim only for my charges then realised from reading on this wonderful helpfull site that I could also claim interest.
I quickly sent off a new claim for charges and contractual interest (from the simple contractual interest spreadsheet)on a Barclaycard and Mastercard for the last six years.
Barclaycard charges come to £455.00 and the contractual interest on this from payments going back to 2002 amount to £438.28 and Mastercard charges are £200 contractual interest is £163.32.
I got a reply back from my first claim repaying the difference between £12 and £20 charges.
Then I got another letter back from them two days later saying they are prepared to pay me my charges but not the contractual interest and 8% interest on my charges totaling £474.12 on the Barclaycard and (which I work out on the spreadsheet when you set it to 8% to be out in their favour by £160.00) and £259.20 on the Mastercard (which I work out to be out by £10 in their favour) They have headed their letter as Final response.
Is it worth my while pursuing this for the contractual interest or would the courts think I am being unreasonable as Barclaycard are offering 8% and the charges straight away?
Would you be so kind as to clear up weather this was your initial claim to Barclaycard or your claim at court either by Form N1 or MCOL.
There is a big difference as you can only claim interest after you file at court.
If Barclaycard are offering a full refund and the 8% interest without a court claim, grab it while you can !!! It's very unlikely the courts would award you more.
Lex
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Advice & opinions given by me are personal, are not endorsed by the Consumer Action Group or the Bank Action Group. Should you be in any doubt, you are advised to seek the opinion of a qualified professional.
This is my initial claim. They have been really quick in getting back to me.I think I will still send off my calculations of the 8% as I cannot work out where they got their figure from?
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Advice & opinions given by me are personal, are not endorsed by the Consumer Action Group or the Bank Action Group. Should you be in any doubt, you are advised to seek the opinion of a qualified professional.
Yes I used the simple interest calculation spreadsheet. I'm just a bit confused though because I thought you could claim contractual interest from the start? Barclaycard are not paying this back but are paying 8% that I would normally add on when filing for court action?
BC have been a bit sharp recently, saying they'll repay chgs plus 8% but in reality the are adding a flat 8% to the total chgs. This is very different to them offering chgs plus 8% as calculated by the use of our Simple Spreadsheet.
You can, however, claim CI (Contractual interest) using the Advanced spreadsheet linked in post #4 above.
You should claim CI from your Prelim Letter onwards and doing this may increase your claim considerably, especially if you're reclaiming older charges. If you haven't included CI in the Prelim, start the process again. Don't claim the 8% on top until you file at court.
The downside is that BC will be most unlikely to offer to settle, you WILL have to file your claim at court, and they'll be unlikely to settle until JUST before your full court hearing.
To help you make a decision, try putting your chgs figs for one or both a/c's on the spready in the link I put above. Compare this with the amount BC are offering to repay on each a/c.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Thanks slick the difference of what they have paid me so far and what I could have with contractual interest would be £500 but then I would have to pay the court fee up front and have all the hassle involved in taking them to court I think I may just cut my losses and accept what they have offered me .I have got all my charges back along with the flat 8% which isnt too bad after only two letters!
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
I've sent off a letter yesterday asking for the £170.00 difference in the 8% flat rate that they have given me and the 8% interest rate going back to 2002 I've told them if they pay this I would be prepared to settle.
If they dont pay this and I go through to the court proceedings what is the liklihood of them paying ? I did claim the contractual interest on a second prelim letter I sent off two days after my first? Isnt it going to look bad in front of the courts if they have paid the charges back to me so fast, arent I just going to look like I am being difficult?
They say they have credited my accounts but I am waiting for the statements as I no longer have the cards as I cut them up.
If they don't want to increase their offer + 8%, they don't have to as the offer to pay anything on top is a gesture of goodwill. Statutory int't cannot be added to your claim until you File at court.
If you sent a 2nd Prelim claiming CI so soon after the 1st, that may be ok. Next step on this track is lba.
So you have to choose:-
1) Accept the existing offer, or any improvement they make make in view of your letter sent yesterday.
2) Proceed with the claim including CI.
When you sent the 2nd Prelim claiming CI, did you include the Schedule of Charges showing how the CI claim was made up.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Thanks Slick.
Yes I sent a seperate spreadsheet for each of the cards showing the charges and the contractual interest(the interest is almost as high as the charges but it goes back to 2002 and I calculated it at 16% as an average which I think is probably a bit lower than it should have been)
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Well got a reply back from them stating the 8% covered the total charges. Nothing else !
I think I'm going to take this further now. I'm away this weekend but will follow it up next week and seperate the threads.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
Well thats done have sent off rejection letters for both accounts (I'm not seperating the threads as they are both Barclaycard ,ones a visa ones a mastercard and I'm dealing with the same woman Charlotte Scott for both)
So shall wait the ten days and then get started with court proceedings would you still not recommend MCOL?
More space for your Particulars of Claim, less chance of the case being mistakenly Stayed (if it's wrongly taken as a bank charges claim) and it'll save time as you don't have to wait for MCOL to transfer the case when BC Defend.
Any help and advice is offered in good faith, based solely on my own knowledge and on experience gathered from this site. I am not qualified to offer legal or financial advice, which you should seek from an expert before making any important decisions. My opinions are therefore offered without liability.
I am an Independent Financial Adviser trying to reclaim over £50,000 in unreasonable charges for a Business customer of Barclays, can anyone help as I have written to them locally, it was passed to London HQ, then back to local office and then they said no refund and have given me the details of their legal department if I want to take court action !
Hi Blakeray,
read through the reclaim charges guide and spend some time going over this forum so you get used to their responses are the charges bank or credit card as bank charges are on hold at the moment awaiting the OFT's decision of what they deem to be reasonable as a guideline ?
Hi Parklife, these were called 'extension fees' after a long expired and my client said he was not informed the loan had expired and what options he had to re-negotiate.
Parklife vs Barclaycard
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