Thread: Starting My Claim

Hi All,
I'm new to the site (last night) and have so far downloaded and marked up all of my bank statements for the last 2+ years.
I'm getting ready to send my letter this evening.
Does anyone have any comments before I do ?
Thanks,
In debted...

I have now read up on what I need to do - Can anyone confirm the following:

Stage 1 - Open http://www.consumeractiongroup.co.uk...-approach.html

Stage 2 - Fill out the letter, inserting my personal details and Insert the amount plus the interest amount and then total it.
Stage 3 - Send the letter

Question: Am I missing something it seems so simple... HELP





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Hi ID, you haven't included the 8% interest in your prelim letter have you? Also, if you finish this claim I'm fairly sure you can start another claim for the rest of your backdated statements though would probably be best to just do one claim. Just my opinion.

Are you talking about the 8% interest as on the spreadsheets, or interest charges on the account?

I see, so how do you work out your own interest rate?

...which in Nationwide's case was 24.9% the last time I looked on its website!

As U can see...It's alot more than the S69 Statutory Rate of 8%
So for someone claiming significant charges from a few years back it can make a HUGE difference!!!

I think that quite a few people have had successful claim payouts already by using Daily Compounded Contractual interest % Rate.

The S69 Statutory Interest Rate of 8% is what the Court would apply to a winning claim if asked to do so by the Claimant.

But as the Banks are rarely, if at all, contesting claims, it does no harm to claim the former rate, with the later as in the alternative for the court to consider if the Bank actually contested the use of Daily Compounded Contractual Interest.

The Court will ONLY give the Claimant what he/she claims for, if it is put down on the forms for the Court to consider!!!

So how do you find out what a banks rate is? I have a claim against HSBC and would LOVE to claim extra interest!

Sorry In debted we seem to have taken over your thread!

Hi Guys,

Thanks for taking over my thread... lol

Today I received a letter from the Nationwide which reads:


Thank you for contacting us on 05 December 20{about charges incurred on your flex account.

We appreciate the time you've taken to get in touch with us about this issue, and are grateful for the opportunity to explain the rationale behind our charging policy. We are aware there has been a lot of speculation about fees and charges in the media and that the Office of Fair Trading has issued a directive regarding credit cards.

As you know if we allow items to be paid and it means you exceed your agreed overdraft Or we have to return an item unpaid on your account then we will make a charge in accordance with the terms and conditions. Details Of our tariffs are contained within out `FlexAccount Interest Rates and Charges' leaflet, freely available in branches and provided when opening an account and agreed to by yourself when you sign in acceptance of these terms when signing the application forms.

Nationwide believes it is open and transparent about charges and members are pre-notified prior to charges being debited via their monthly- statements. If, at any time, we make changes to the tariff, account holders are always informed. We hope that you will feel that you can abide by the terms and conditions of the account but if you cannot, then regrettably it may be appropriate. for you to consider alternative banking arrangements.

I hope. that this has helped to clarify our position and you will appreciate why I am unable to refund any charges on your account. If you have any further queries don't hesitate to call me. My contact number is 01793 712603

I must make you aware The Nationwide Group uses the Financial Services Authority rules when dealing with customers' concerns. I've enclosed a leaflet that explains our Internal Complaints Procedure should you not be happy with my reply.

Yours sincerely

Richard Huntley

Customer Service Manager Member Account Servicing



What do I do if I'm still unhappy?

The Nationwide Group uses the Financial Services Authority rules when dealing with customers' concerns. Under their guidelines, you inay consider the following course of action if you're not satisfied with my response.

1. Our Member Service Department can review your concerns. I will be glad to refer it for you. If you decide to go ahead with this option, please contact me.

?. If you are still not satisfied, you may then approach the Financial Ombudsman Service for an impartial, independent assessment of the situation.

if vou don't come back to us within the next. aG days, I will close our file.




Its my guess that they are not going to play ball, what should I do now?

Any (sound, lol) advice appreciated.

Thanks,

In debted

That's a standard letter. Just continue with the next letter once the 14 days have passed.