Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
You need to keep reading.................!
But as your a newbie your quite within your rights to be a bit dazed and confused!!
Yes, Natwest like to fight back but they always lose. Look at the 'survey results'
and look at the survey categorys on 'survey' Totally different page?! to see the average stages at which the banks returned their ill gotten spoils!
There are no hard and fast rules each case is different but they will try to scare you off.
I've sent my DPAs of recorded delivery last week and the post office say they havnt recived them yet. first class???
Keep reading the FAQs and all the threads particularly the NW forum to get a feel.
Just so you know where to start, read Mountainof Debts 'have I opened a can of worms' she got back over 2k on saturday also rbrears thread, he got back 4.5k last week.
Any q's or worries, post them here on your personal thread, which as the weeks pass will act as a sort of diary, you'll get loads of support and advice along the way.
Just wondered what DPAs are? I have tried to follow most of the steps. Found out the amount im owed, asked for it back (twice), letter before action etc and am now at the moneyclaim stage. just wondered whether Natwest really take people to court i guess!
And when you fill in the moneyclaim site, what address do you put for natwest? i am assuming its the bishopsgate london address at the bottom of the correspondence....
dont worry
you are way beyond the stage of dpa's. Data Protection Act Subject access request letters are sent right at the start if you have lost some or all of your statements. it's a way of getting your data held by the bank about you.
sounds like u kept your statements and know what they owe you.
have u used Vamp's excel speadsheet to calculate your 8% apr as its going to moneyclaim? if not u need it. it's in Bank Action Group templates (green coloured) Click Consumer Action Group (top of page in blue) scroll down to the green bank templates section and have a look. V Imp part of site!!
hi. as i said im knew so no laughing if this is a stupid question (because I belive the original article never made this clear)...
is it just the charges for returned cheques and unauthorised borrowing that we can claim back or can we claim back the interest on these overdrafts, which seems to be a good £20 a month?
you can claim back the unauthorised overdraft interest but it is quite tricky to differentiate normal interest and unauthorised. it can really mount up though so if you're feeling mathematical, have a go.
Don't forget if this winds up at the MoneyClaim stage you also add 8% apr on top. There are spreadsheets for this in Bank Templates (green)
Do some reading up on interest from other peoples threads to get more details on how to calculate.
good luck
kate
the interest you can claim back from your overdraft is only the proportion of interest incurred by those charges though, and at the rates that applied at the time the interest was cahrged.
You would need to know what the interest rate was at each point from the time the charged was levied, and how much of the your overdraft interest was due to charges and how much was due to being overdrawn without their help!
It can mount up in some cases, but I think most people would drive themselves mad trying to work it out.
Am I missing something here?! Working out the interest you've incurred as a result of the bank's unlawful charges is pretty straight-forward assuming: (1) You've got all your statements to hand; and (2) You use Vampiress' spreadsheet(which you'll find in the bank templates section).
This being the case, you merely need to key in the figures and the spreadsheet does all the work for you by calculating what proportion of any interest you were charged was attributable to unlawfully levied charges.
My charges added up to more than 4k and, using the spreadsheet, I was able to calculate that I'd incurred another £600 in interest as a result of these charges - which, of course, I added to my claim! ;-)
Fred_Funk
NatWest: seeking unlawful charges + interest incurred as a result of those charges of £4,292.82 and contractual interest (compounded) of £4,559.41. Court claim issued 16.01.08; acknowledgement of service filled by Cobbetts on 30.01.08
the interest you are talking about is the 8% the court allow you to add on for not having had the money in your account.
the interest razor is presumably asking about is the interest rate they charge u for unauthorised overdraft use. ie mine went from 2.3?% to 29.4?%.
thats why its difficult, plus u also have to work out which part of said overdraft is caused by the charges going out. tricky..... i left it off because my brain couldn't cope! correct me if i'm totally wrong anybody!?
k
The 8% interest added when you get as far as a court claim is another thing altogether.
I don't know if you used Vampiress' excellent spreadsheet when you were putting your claim together but if you did it will, as I've said, work out the amount of interest you've incurred as a result of unlawful charges.
... if you fill in columns g, h and i then the spreadsheet does all the work for you!
Moreover, you're confusing the issue unnecessarily when you start worrying about what rate of interest you might or might not have paid.
Let me give you an example; say, in month one you incurr £100 of bank charges. If at the end of month two, you find you're still £100 overdrawn and as a result you've paid £20 in interest then you can ask for that money back as it's entirely down to the unlawful charges. Similarly, if at the end of month two you were £200 overdrawn, only half of which was attributable to unlawful charges, and you paid, say, £30 in interest then you could reclaim 50% of it.
Don't worry abouth the maths, the spreadsheet does all the work for you - just as long as you can input your balance at the end of every month and the amount you paid in interest.
Hope this makes things a bit clearer?! ;-)
Fred_Funk
NatWest: seeking unlawful charges + interest incurred as a result of those charges of £4,292.82 and contractual interest (compounded) of £4,559.41. Court claim issued 16.01.08; acknowledgement of service filled by Cobbetts on 30.01.08
Hi Fred
Thanks for that! I'm blushing at my ignorance!!
The reason I'm getting thrown is cos although i've incurred alot of charges the interest amounts are usually only about £2 a month.
I've just done the spreadsheet, apart from owt else to get my head around it!!
I've done 2001-2004 thus far and the interest has totalled about £28.00, is this cos i wasnt going way overdrawn (average £150-300 over).
Your total of £600 interest due threw me cos my 8% interest comes to about that (if it gets that far, dont worry i'm not counting it now;-) !)
Hope i've got this right now?
grateful kate x
26/01/07 Awaiting court date 25/01/07 Courts lost my file!! Said it will be sorted soon 23/11/06 Defence recieved from Abbey 20/11/06 Statements a full 6 years received 16/11/06AQ completed & submitted 30/11/06 Claim number 6SQ06250 recieved from courts 24/10/06Claim submitted to courts x3 copies 21/08/06 Prelim letter asking for it back, sent to Pam Speed. 14 days up 05/09/06. 21/08/06 Data Protection Act non compliance letter sent. 7 days up 29/08/06 11/07/06 Reply to Pam Speed Data Protection Act fob off letter. 10/07/06 Data Protection Act fob off letter received from Abbey. dated 06/07/06. 29/06/06 Data Protection Act statement request sent
26/01/07 Awaiting court date 25/01/07 Courts lost my file!! Said it will be sorted soon 23/11/06 Defence recieved from Abbey 20/11/06 Statements a full 6 years received 16/11/06AQ completed & submitted 30/11/06 Claim number 6SQ06250 recieved from courts 24/10/06Claim submitted to courts x3 copies 21/08/06 Prelim letter asking for it back, sent to Pam Speed. 14 days up 05/09/06. 21/08/06 Data Protection Act non compliance letter sent. 7 days up 29/08/06 11/07/06 Reply to Pam Speed Data Protection Act fob off letter. 10/07/06 Data Protection Act fob off letter received from Abbey. dated 06/07/06. 29/06/06 Data Protection Act statement request sent
Hi. Just wondered what the general theme is regarding Natwest's reaction towards these claims. I have just heard from Moneyclaim that they have just received a response/defence from NatWest (which I will receive soon).
Have most people who have reached this stage received a defence and if so, what happens then?
Moneyclaim and onwards....
situation'.
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