dtollan vs RBOS

**dtollan** · 2nd November 2006 14:08

Hi, wish me luck....just setting off on the long road to (hopefully) getting my cash back

Similar Threads:

**Suzy H** · 2nd November 2006 14:54

Good luck ... again ... (already said good luck to you in your Nationwide icon

thread)

I've just received my statements from RBoS so away to get the calculator & highlighter lol so will likely send off my SAR icon

tomorrow

**dtollan** · 2nd November 2006 15:32

Hi Suzy H.....if you've got your statemenst already surely you dont need to post off your SAR icon

?....or am i getting this wrong?

Its all a bit daunting eh.

cheers

**weej** · 2nd November 2006 17:00

DT, youre right. If you have your statements, its prelim letter next.

j

**Suzy H** · 2nd November 2006 17:19

oops ... ment i'll send my prelim next

**dtollan** · 21st November 2006 17:03

Received my RBOS statements on the 16th Nov.....just going through em and adding up all the charges, trying to work out the Royalties Subscription for each month. It changes from £5 to £6 at some point....i need to remove the royalties charge from my claim as it is an agreed fee for each month and therefore unclaimable.

When is the 5 years taken from?...is it from the date of the first letter requesting repayment?......has anyone managed to get anything from further back...i know of the 20 year thingmy but im not too fussed about that...its just that i have a couple of charges from outwith the 5 years...(if it is from 5 years previous of the first letter (does that make sense!!))

Also...does anyone know what a referral charge is and can it be clainmed?

cheers

**dtollan** · 22nd November 2006 18:47

hi folks,

was wondering if anyone can help me.....i'm struggling to find out what the contractual rate of interest icon

is for RBOS....can anyone point me in the right direction.

apologies if its on a thread somewhere...i simply cant find anything at all.

cheers

willowb · 22nd November 2006 19:34

Hiya,

Have a search here

RBS: Personal Finances - Search

I haven't had time to have a good look but it may be in there somewhere.

Wxx

**HydraUK** · 22nd November 2006 20:31

Contractual rate for unauthorised borrowing with RBS icon

is 29.84%, authorised borrowing (i.e. agreed overdraft icon

) is 16.8% I think....

**dtollan** · 23rd November 2006 13:52

thanks hydra,

i've just finished doing my interest calculations on the simple spreadsheet using the unauthorised contractual interest rate. in the prelimenary letter it states:

What I require
I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .
I enclose a schedule of the charges which I am claiming with this letter

however.....is it true that i am claiming the extra in overdraft interest for the sum that they have taken?
or...am i simply applying an unauthorised borrowing fee to each charge over the period of time since each of the charges were applied.
Do i need to reword this part of the letter to reflect this?
maybe an obvious answer to this but after the spreadsheet my head aint working to well.

also a quick question about the bottom of the spreadsheet...this is what appears at the bottom of the spreadsheet....do i leave in the middle column about the judicial interest rate?.....or take it out for the first letters?

TOTAL CLAIMED AT DATE OF SERVICE : £2,675.02

JUDICIAL INTEREST AT CURRENT RATE OF 8% : £0.00

TOTAL CLAIMED AT DATE OF JUDGEMENT OR PAYMENT : £2,675.02

this total includes 29.84% interest, it seems to me that as the bottom line says total claimed at date of judgement or payment this means i wouldnt be able to claim the 8% if i got to court? i know not to add this 8% at this stage...is it a case of simply adding 8% to my £2,675.02 at the time of filing a court claim?

ouch that hurt....not even sure if it makes sense

cheers

**dtollan** · 23rd November 2006 13:53

oops///thanks willowb as well!

**HydraUK** · 23rd November 2006 17:58

There are several posts you need to read that relate to contractual interest icon

claims, but I gather that it is your preference whether you claim interest at authorised or unauthorised levels (unauthorised claimed on the basis that you didn't authorise them to penalise you).

However if I read right, it is expected that if your total claim including contractual interest reaches court you can also apply for the 8% - please correct me if I have misinterpreted this, anyone.

willowb · 23rd November 2006 18:09

Hi

The first part of your question.....it refers to claiming interest icon

applied to your account for unauthorised borrowing....you can only claim this back if the o/d they have applied this to is made up entirely of unfair charges....make sense?

As for the contractual interest issue....you MUST read this thread, it's full of useful discussion and some not so very useful discussion (mainly taking place on saturday nights

)

http://www.consumeractiongroup.co.uk...ctual+interest

Have fun

Wxx

**dtollan** · 23rd November 2006 18:38

hi,

thanks willowb...i've already had a good read through that thread and it was the main reason i decided to apply unauthorised contractual interest icon

.

hydra....cheers, that definately helps with regards as to whether i can add my 8% to that total (inclusive of the added interest) come court time.

however not sure about the best way to highlight the fact in my letter to RBOS that i am charging them the unauthorised rate....(not without sounding defiantly smug anyway!!)

if you (or anyone else) know of anyone who's added this to their letters it'd be a help to see what they wrote.

cheers

**dtollan** · 28th November 2006 17:52

Re: First Letter Question (interest charges) Hi Willowb, I need a bit of advice (apologies if you dont like receiving PM's)

That's ok, but you must post the question in your thread, you'll get more advise that way (I'm no expert!)

I seem to be hanging back from sending off my prelim letter. I have totted up my charges, and inserted them into vampiress's simple (scottish) excel spreadsheet (using unauthorised contractual interest rate of 29.84%. The interest adds at least 1000 pounds onto my claim.

Yeah, it's amazing isn't it!!! have you done it 'simple' or 'compounded' ?
I personally would claim the authorised rate but compounded. Not that I have done it! but if I were to do it then that would be a more comfortable route for me. Have you checked out any of the on-going threads on this? I can link them for you if you want.....best to be totally prepared!!!

Do i put this in my prelim letter,

yes

and is this extra amount the interest on the overdraft icon

which the bank have charged me, or just the interest on each of the the charges since they were levied?

It's interest on the charges. If you want to claim interest that the bank has levied on an unauthorised o/d, you have to prove that the o/d was made up entirely of charges or it gets very fiddly!!!!

Like I said, post the question in your thread and I will pm those links to you if you have not read them already.

Wxx

Thanks very much for the above reply willowb. I am a little unsure as of the difference between the simple interest and the compound interest. I have had a look at the advanced spreadsheet, however my account was a student account with free royalties, then graduate royalties etc etc, i dont seem to be able to find out what my OD limits were over the past 5 years, (lets face it when your a student you dont care as long as the money keeps coming out the hole in the wall!!). I therefor will not even be attempting to claim interest for my overdraft. What i have done so far is to input my charges on the simple spreadsheet and use the rate as 29.84%, i assumed that would do it, i take it this is simple interest. Am i able to calculate compounded interest without calculating overdraft interest.

Thanks for the offer of the links to the relevant threads, but i already have them subscribed and am following (or not as the case may be) the proceedings carefully.

willowb · 28th November 2006 18:11

Oh I see! I have replied to you before....

Well, compounded is the method which the banks use to apply the interest icon

, so it is fair to argue that it is valid to claim interest from them using the same method. There is a spreadsheet available for this.

At the end of the day, you must do what you feel confident with. If you go for contractual (authorised or unauthorised) interest then you must put it in your prelim.

Good luck

Wxx

**dtollan** · 12th December 2006 12:35

Prelim letter sent to my local branch today

.......14 days and counting.....I wonder if theres any christmas spirit on the go at RBOS Maybe they'll settle painlessly

I decided to go for unauthorised contractual interest icon

so lets see what happens.

**dtollan** · 30th December 2006 16:27

Hi folks,

Following my prelim letter I received an offer from RBOS today. From: Sandy Watt of Customer Relations.

They have offered me the full amount of charges i have claimed

minus any interest icon

.

He has suggested that I call him if I am unhappy with this to discuss.......

I am thinking of offering a compromise of dropping from Unauth. interest rate to Authorised rate if he settles now.

Or....should I just keep steaming ahead and get the unauth. Int.

In a good situation as I dont really "need" the cash right now. So can afford to wait, but I feel that I should at least try and meet them halfway.....a bit of a dilemma methinks.

Any thoughts or encouragement welcome...

Cheers

**HydraUK** · 30th December 2006 18:03

If you can get them to offer authorised rate I personally would take it.

**dtollan** · 5th January 2007 13:57

hi all,

Phoned RBOS today and spoke to Sandy Watt (Customer Relations) who is an agency worker, He referred me to Ross McDonald who told me that the RBOS is only offering charges back minus interest and are quite happy to let people take court action. (possibly just trying to wear everyone down)

I am therefore going to carry through with my claim all the way if necessary. I am thinking of sending my letter before action icon

asking for authorised borrowing rate instead of unauthorised......is it wise to change my claim at this point?

Also thinking ahead to filing a claim....I calculated my interest on Vamps simple spreadsheet...I simply changed the rate in the yellow box to 29.84%....is this the right thing to do?...or have i messed up by not using the complex spreadsheet? I would appreciate it if someone more in the know could cast an eye over my spreadsheet and let me know if theres any probs. Just to ease my mind.

After typing this I decided to phone my local branch to find out what my past overdraft icon

limits had been....i have to write to them requesting this info...they then get the info and i can use it to complete mindzia's spreadsheet and therefore add compounded contractual interest...so this has put my timescales out....but will hopefully be worth it.

Let me know what you think.

cheers

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