I received a letter from my local authority stating that a final bill for maintenance work they sent me in 2007 for £700 was an over payment.

I had already paid £4000 previously to that,

they asked would i like the money back lol, I obviously said i would but i think i should be entitled to interest on the amount seeing that they have held it for five years. They offered me £50 compo without prejudice, which i refused. Does anyone know how much interest im legally entitled to ? i am sure it must be more that the £50 offered. Thanks in anticipation for you kind advice.

desamax,

is 4% above the base rate about right

is 4% above the base rate about right

Hi Ya

Your lucky they have even acknowledged the fact that they owe you money back - LOL

£50 is a bit of an insult thought isn't it?

Check the CPR rules on interest payments - this will give the actual percentage to quote : )

i would think you are quite within your rights to charge them statutory interest that any court [and themselves!!] would charge on an outstanding debt.

8%

dx

They aren't far off. 8% of £700 is only £56.

Or is it 8% per month/year rather than just 8% of the overall total?

They aren't far off. 8% of £700 is only £56.

 

Or is it 8% per month/year rather than just 8% of the overall total?

Per year, in fact im informed its 8% above the base rate for that years.

1st January - 30th June 2012 0.5% 8.5%

1st July - 31st December 2011 0.5% 8.5%

1st January - 30th June 2011 0.5% 8.5%

1st July - 31st December 2010 0.5% 8.5%

1st January - 30th June 2010 0.5% 8.5%

1st July - 31st December 2009 0.5% 8.5%

1st January - 30th June 2009 2% 10%

1st July - 31st December 2008 5% 13%

1st January - 30th June 2008 5.5% 13.5%

1st July - 31st December 2007 5.5% 13.5%

1st January - 30th June 2007 5% 13%

i hope this is correct

They aren't far off. 8% of £700 is only £56.

 

Or is it 8% per month/year rather than just 8% of the overall total?

I agree..its under the 6 Stat Law year limit, so I see no reason why you shouldnt be refunded the full £700 plus 8% interest, however the 8% interest is only claimable if you start a court claim.

Write to them asking them to refund you the £700, and point out if they dont, you will start a court claim, and then they will be liable for your costs (approx another £150) and interest of £261 (this is assuming date of 1st August 2007) so eralier will be more, later less.

I had a similar claim against my landlord, I had been overcharged ground rent for many years, (in fact using S32 of limitation Act I was able to go back further than 6 years to appox 14 years back, my original claim was £500, but came away from court with costs & interest bring the total to just over a grand.

To calculate the interest I used a modified spreadsheet that I think I got from here or maybe another forum which I used to calculate interest in my bank charges claim

If you start a court claim, put £700 plus Costs plus Interest at 8% rising at the rate of £0.35 per day.

Andy

Per year, in fact im informed its 8% above the base rate for that years.

 

 

1st January - 30th June 2012 0.5% 8.5%

1st July - 31st December 2011 0.5% 8.5%

1st January - 30th June 2011 0.5% 8.5%

1st July - 31st December 2010 0.5% 8.5%

1st January - 30th June 2010 0.5% 8.5%

1st July - 31st December 2009 0.5% 8.5%

1st January - 30th June 2009 2% 10%

1st July - 31st December 2008 5% 13%

1st January - 30th June 2008 5.5% 13.5%

1st July - 31st December 2007 5.5% 13.5%

1st January - 30th June 2007 5% 13%

 

i hope this is correct

No..Its just 8% claimable under the Section 69 Of The County Courts Act 1984, but realistly you must first just ask for the full £700 (as perhaps a Notice Before Action).

Andy

I feel im entitled to more that the £700 that they offered seeing they held onto it for five years and could of informed me, but never did until now. They have asked would i like it back, when i asked about interest they offered the £50. The over payment was demanded by them and i paid promptly. They could and should have refunded me in 2007 and say it was overlooked.

D

I feel im entitled to more that the £700 that they offered seeing they held onto it for five years and could of informed me, but never did until now. They have asked would i like it back, when i asked about interest they offered the £50. The over payment was demanded by them and i paid promptly. They could and should have refunded me in 2007 and say it was overlooked.

D

You could point out IF you went to court itn would cost them £700 + £261 + £150 (approx) plus their costs plus your personal costs (for time off work, max £90), and they might up their offer, otherwise start court action, they are then liable for the 8% interest as soon as you start it.

Andy