Apologies if this is going over old ground, just a bit mixed up and would like someone to confirm if possible, Thanks in advance...

1. I understand that 8% can only be added once it goes to court, (JUDICIAL INTEREST RATE?)

Question is can I add 8% to my total for normal interest so to speak.

2.Whats the exact lenth of time you can claim back on in Scotland, i've read its 6 years but pretty sure someone said 5 years on one of the posts, cant find it now.

3. What's the name of the dog in the wizard of Oz...

3 = Toto

1. No

2 5

J

So thats 5 years from today ?

I believe so, or from the day that you start the proceedure

Is the only way to claim interest to calculate the amount listed on the statement? Is is useful to calculate the Compound Contractual Interest (the 8%, calculated using the relevant spreadsheet) and mention in the LBA? ie should you not settle now I will be claiming £xxx plus compound contractual interest of £xxxx plus any further costs accrued to myself...

I'm Sorry cant help you with that one, I have just added up the total charges and no interest from my statements or any interest added on the spreadsheet it's £980, but looking back, this is for the full six years of statements, need to take off a years

5 years from date of SAR.

If claiming contractual rate...declare it now (circa 29%). If it is the 8%, that only goes in at court stage and cannot be claimed if they settle earlier.

So from my total charges (980) I add the 29% of the £980 on the spreadsheet for my total, then if / when it goes to court then i can add a further 8%

many thanks..

no, on your spreadsheet, you would change the interest rate from 8 % to 29 % approx (- depending on your bank's unauthorised borrowing rate), so that It calculates the interest from the date of "offence".. That is why some people are putting in claims for, say, £10K against charges of about £2K. I havent seen any winners yet (or losers), but am watching with interest.

If they start paying out contractual interest easily, this could turn this forum on its head....exciting times!

Personally I just went for the normal interest and the bank paid up before I had to file at court...........good enough for me :grin:

j

The normal interest rate being? i.e the one you used:smile: ?

Thanks very much for all the help by the way, ive got 4 other accounts and this is my first so hopefully I'll get the just of things soon enough.

8% - but kept this off the spreadsheets. I only introduced this as a nudge before I filed court claim, and it worked.

Basically, "if you dont pay me now, you will end up paying plus interest, plus costs etc"

Many Thanks, I'll give it a go!