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.
Due to a little confusion, I am posting this to hopefully clear up some points.
You can claim unlawful penalty charges.
You can claim any interest that was taken from your account in respect of those charges.
These added together is the total amount taken from you that you wish to be refunded.
You can then add interest if you wish.
Statutory (judicial in Scotland) interest is to be claimed only when raising your claim in court and is currently 8%.
Statutory interest is in place for circumstances where contractual interest does not exist. If you claim contractual interest you must add this at the start of your claim and amend the template letters according to your arguements.
There is a debate about whether or not contractual interest exists. Please do not let this debate cloud your claim. If you do not understand or cannot argue the points of law, then simply avoid the subject. It is not a necessary part of your claim. If you do wish to take this route there are many users who are willing to assist you.
The fight is for banks to refund unlawful bank charges.
If you have Google access, here is a spreadsheet to clarify the points made. Google Docs & Spreadsheets - claim
(This is for example purposes only. Please use spreadsheets from the library or my Chambers or other users templates such as Mindzai's to assist in building your own spreadsheet of calculations.)
BEFORE starting your claim read through the FAQ's and if there's something you aren't sure of then ask.
If you win, donate to this site
Contents of my posts are purely my own personal opinions, some formed by personal experience and some from research. If in doubt seek qualified legal advice.
I mean the amount that they took that relates to accumulated charges. This is difficult to calculate. If someone can post the notes in my guides on this here I'd be grateful. I'm struggling with computer access.
You are advised to give the bank a detailed Breakdown of what you are claiming from them. This can be a simple hand-written list or a more legible document prepared using a typewriter or software on a computer.
Reading this, you are likely to be claiming numerous charges from your bank or credit card company. These should be listed with the dates and detail of what they are.
You were probably also charged interest on what were considered overdrawn amounts. The overdrawn amounts may include accumulated charges. If you can apportion the interest you were charged between the accumulated charges and the "true" overdraft, you will probably like to add to your claim the interest that was charged on the charges which you are claiming to be refunded.
The advanced spreadsheets I have created should give a good estimate of the apportionment.
Having listed the items you wish to be refunded, you are entitled to request interest on each one of these as an individual item. The courts state a statutory rate (judicial rate in Scotland) of 8% that you can add in the absence of any contractual rate.
Some argue that there is a contractual rate, by means of mutuality and reciprocity within the contract you have with the bank or credit card company. The bank will state their rates in published brochures and leaflets, and on their websites, and you may wish to use these.
Statutory (judicial) interest cannot be claimed before raising your court claim. Contractual interest should be claimed at the outset.
Statutory interest cannot be compounded.
Both statutory interest and contractual interest are taxable.
You must understand what you are claiming and why, and be prepared to explain and reason your arguments for your calculations in a court of law.
Remember at present, the template letters and particulars of claim on consumeractiongroup.co.uk are for claiming statutory interest. You must amend these to your own personnal claim.
If you have transferred an overdraft into a consolidated loan, some of the interest added to the loan may be reclaimable.
When you have opened a file, click on "File" and click "Copy spreadsheet". You will then have your own to edit.
At present you can only enter dates in the American style, e.g. 9/19/2006, however, they are formatted to look like 19-September-2006.
Some reports need to be printed in landscape. After clicking "Print", you should have an option to change your printer settings. Alternatively you can export your document to pdf format to print.
These spreadsheets are simple to use, and stored online so that you can access them from any computer with internet access, invite others to share them with you, and hold online conversations within the spreadsheets themselves. This is why I have chosen this particular software.
If you prefer to use other software, feel free to use the calculations used here. You can also export these documents as csv, xls, pdf, ods or html if you wish.
If you need to export to Excel, there is a little work involved as some of the formulae will not export correctly and will show as errors in Excel. If you want to use Excel then some of the formulae will have to be manually copied is all. You should save your own Google version of the spreadsheet, then you'll be able to double click in the cells that haven't exported correctly to read what is in them, You can then type this formulae into your Excel spreadsheet manually.
Remember - "Ctrl + Z" will undo your last entry made if you feel you've made an incorrect entry. General spreadsheet assistance is available in the Google help within the spreadsheets.
Spreadsheets 1 to 21will help you calculate a refund of charges, the interest charged by your bank to you in respect of those charges, and any statutory or contractual interest you may be entitled to claim on those amounts.
Advanced version spreadsheets estimate the portion of the interest that the bank has charged to you that relates to the charges they took from you. This requires you to enter an estimate of the average overdrawn balance during the period the interest covers. Use the last date of the period the interest covers. Also enter any interest-free overdraft that you may have had. If you don't have this detail, or it is too complex, please use the simple spreadsheet and decide whether to claim all, none, or a fraction of the interest they have charged you.
Advanced versions of the credit card spreadsheet assume charges are the last to clear from your statements. Check your T's and C's for information on allocation of payments.
Statutory interest can only be claimed when raising a claim. Contractual interest should be requested with your first letter to the bank, and subsequent letter before action. Change the interest rate from 8% within the spreadsheet you save if you are claiming contractual interest to your bank's authorised or unauthorised overdraft rate.
Calculations are different in Scotland. Please ensure you use the correct spreadsheet.
Ensure you have entered all dates and rates correctly, typing over what has already been entered for example purposes. Ask a family member, friend or colleague to check over your calculations or assist you if you are unsure.
Spreadsheet 22 will help you calculate your costs to claim in court if you have been fast-tracked. Ensure you type over the data already entered for example purposes.
You are likely to need to insert rows here. Ensure the sum calculations include any inserted rows.
Spreadsheet 23 will help you to detail to your creditors your income and expenditure within a given period, and highlight the amount of money available that you can use to repay them. Thanks to Jonni2bad for this spreadsheet.
Spreadsheet 24 is to help yourself with cashflow from one period to the next. A period is likely to be a week or a month.
Spreadsheets 25-27 will help you calculate any interest included in a consolidation loan that relates to any penalty charges and interest paid on those charges that have been included in the loan. Enter the details of your loan at the top of the spreadsheet and view details of what you are claiming at the bottom.
my first time on here....so pls excuse if posted in wrong place etc.
I wanted to enquire if i can make a claim on behalf of my late husband.....for many years we were crippled by bank charges sometimes as much as £300 a month and we really struggled. If he were still here he would be jumping at the chance to re-coup some of the fees. I hope I dont sound money grabbing but with 3 children to raise and support I have no option.
What i am looking at is i am owed £280 by Capital One.
I am looking to add interest but not at the statutory rate of 8% more like the rate that they charged me of 29% on money owed is this possible.
I don not have statements just a list of charges with dates.
What can you claim?
that was taken from your account in respect of those charges.
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