Thread: Contractual Interest - Pros & cons??

Hi

Just about to start my first claim - against Barclaycard. Have been lurking for a while but unsure about the answers to the following.

1 What are the pros and cons of trying to claim contractual interest?

2 If I claim using the spreadsheet for contractual interest and get a refusal and end up having to go to court, do I then also claim statutory interest?

3 If I do claim contractual interest, do I ask for it in my first letter.

Thanks
Jojosa

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Worth bearing in mind that as you're claiming back charges from a credit card company, you have paid interst as a direct result of those charges and you should be claiming this interest back too. That interest is not contractual interest, it's simply a loss you've incured as part of their unlawful charging regime.

Thanks Fat Controller for the info!!!? my head is spinning.

You've set me thinking, although I'm still slightly confused about all the possible ways of arriving at a total. Am I right with the following:

a) could just claim exact amount of charges and claim 8% statutory if it goes to court - use simple excel spreadsheet in the library
or
2) could claim for each charge a fraction of the interest in that month which is due to ithe llegal charge - use advanced excel spreadsheet
or
3) could claim the interest that I have lost due to the charge and the extra interest I paid at roughly 27%pa - use spreadsheet no 15 Vampiress
or
4) as number 3 but compound this interest - use spreadshett no 16 Vampiress
or
5) forget about the extra interest and just claim as in 3 & 4 but using spreadsheets 12 or 13 respectively

Is my thinking right or have I got scrambled eggs for brains this morning?

Thanks