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.
Could you just clarify that again - £317 in overdraft interest, solely due to the charges imposed?
That seems very high against the level of charges you have shown.. £658
Are you sure that you have not claimed for 8% interest by mistake?
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Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.
I did have an overdraft on my account and this is the interest i have paid for the past 3 years. Have i misunderstood and can not claim the interest from my overdraft.
I think it may do you good to rectify this early on.
On your new letter, state that this request superceeds the previous one dated xx/xx/xx.
For your reference..............
There is often a lot of confusion regarding interest - not least because there are effectively 3 types that are referred to....
(1) You can claim for the interest that the bank applied to your account solely due to the charges, i.e. NOT for general interest which occured simply because you had gone overdrawn.
This, in my book anyway, is more complicated to work out because you should ideally know what APR they charged you for general overdraft rates and for 'over limit' rates - unless, of course, you are one of the 'lucky' ones whose statements break this figure down for you.
It can also be argued that by not claiming this (possibly much smaller) figure, that you are allowing the bank an amount you consider IS proportionate to the costs it incurred dealing with your failed direct debit / Cheque etc etc.
If you had to face the enemy in court, you would at least have an arguement to show you have allowed for actual cost. Remember though, you do not have to give them it.....
The choice is yours........
(2) If your case gets to the stage of court action, AND ONLY IF IT DOES, then you may claim 8% interest on each and every charge made - this is also from the DAY the charge occured.
Use the spreadsheet in FAQ section (or the new online calculator) which works this out for you - very simple indeed.
(3) Additionally, we can finally complicate matters by sticking on interest on a daily basis from the time the court case is started until settlement.
If you don't understand these, it is VITAL that you spend more reading through the FAQ section. You are either about to, or have already started, a legal process to recover funds from a large financial institution - do not do so lightly - even if the evidence suggests that it is an easy process.
Good luck...!!
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Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.
lindseyj74 v's RBOS
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Re: lindseyj74 v's RBOS
and calculate the