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The book is easy to understand and clearly explains the rights
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Could anybody let me know if when sending in my letter asking for my money back, do I also ask for all the interest they have charged as this comes to £145.00.
If you wish to claim Contractual interest then you must do this right from the beginning, ie in your prelim, I think RBS unauthorised rate is currently 29.8%, you will be able to check on their website. You cannot ask for statutory interest (8%) until your case reaches court.
Read as much as possible, especially if you are going for CI as you need to be sure of your arguments. Ask lots of questions as everyone here is really friendly and eager to help.
I am a layperson not a legal expert, my advice is offered without prejudice or liability, it is purely my opinion based on personal experience and should be treated as such. If in any doubt seek the advice of a qualified professional.
Could anybody let me know if when sending in my letter asking for my money back, do I also ask for all the interest they have charged as this comes to £145.00.
Regards
Sean
When you send a letter for your money back you do not add interest you apply this when you issue your court claim.
Sean, I think it best you clarify which interest you are referring to. As snoop and paul have both said, you can't add statuatory interest until you go to court. Contractual interest is claimed from prelim stage as is overdraft interest.
What is the 145 quid made up of?
If my post has been useful, tip my scales and let me know
You can claim the charges
The interest you have paid as a result of those charges.
Additionally you can claim interest on both those amounts either Sec 69 interest at 8% simple interest or contractual interest based on the unathroised interest rate.
Sec 69 can only be added into your claim once you file at court. Contractual interest you add from your pre lim. It should be pointed out that the arguments for contractual interest are not striaght forward and its open to debate about your entitlement.
Since you seem to be after interest they have charged it would seem you can add this to your claim from the start.
HTH
Glenn
Kick the shAbbey Habit
Where were you? Next time please
Abbey 1st claim -Charges repaid, default removed, interest paid (8% apr) costs paid, Abbey peed off; priceless
Abbey 2nd claim, two Accs - claim issued 30-03-07 Barclaycard - Settled cheque received
Egg 2 accounts ID sent 29/07 Co-op Claim issued 30-03-07
GE Capital (Store Cards) ICO says theyve been naughty
MBNA - Settled in Full
GE Capital (1st National) Settled
Lombard Bank - SAR sent 16.02.07
MBNA are not your friends, they will settle but you need to make sure its on your terms -read here Glenn Vs MBNA
Interest
they have charged as this comes to £145.00.
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Originally Posted by seanpirie
