do i have to claim overdraft interest?

Sjkl18 · 8th November 2006, 18:23

Have decided to claim against the Woolwich for charges on my account.

First of all I requested a list of charges owed to me, which they sent and I have added up to be £1682. The last three charges that occured have since been refunded after ringing them and asking for a refund.

I have been reading the threads on the site and have the template for the preliminary letter ready to fill out. The only problem i have is with the overdraft interest. How do i work it out? is it 8% for all banks? i am claiming for the period 24/04/02 - 21/08/06. Do i have to claim it back?

I would be grateful for any help anyone can give me as I am nervous about this whole process and am dreading filling out the court papers!

e28bigalbexley · 8th November 2006, 20:51

Hi Sjk

You dont have to claim it and i think, if the penalty charges are the cause of the overdraft then yes, but it is a bit

.

im sure someone could help if you needed it. If its £40/50 it may not be worth the hassle and just worth sticking with your Penalties and the interest attached to them. Its up to you.

AL

paddym · 9th November 2006, 11:49

yeah BigAls right i didnt bother with overdraft interest just my charges and added 8% when i issued my county court claim !

Sjkl18 · 9th November 2006, 13:59

Hi,

Thanks for the help and i won't claim for the overdraft interest. I am sending my preliminary letter, so do i need to add the 8% now and put it in the letter or wait till the claim goes to court and add it in in the court papers?

MadMat · 9th November 2006, 16:09

When you send the preliminary letter (and LBA) You just claim back the charges. The 8% Statutory interest is added when you file the court claim.

Have a really good read of the FAQ (especially the step by step guide) before you start sending letters, if you get it wrong you could either delay your claim, or worse allow them to wriggle out of paying on a technicality!

FAQ here http://www.consumeractiongroup.co.uk...splay.php?f=92

There are templates for the letters here
http://www.consumeractiongroup.co.uk...splay.php?f=33

Mat

MadMat · 9th November 2006, 16:27

When you send the preliminary letter (and LBA) You just claim back the charges. The 8% Statutory interest is added when you file the court claim.

Have a really good read of the FAQ (especially the step by step guide) before you start sending letters, if you get it wrong you could either delay your claim, or worse allow them to wriggle out of paying on a technicality!

FAQ here http://www.consumeractiongroup.co.uk...splay.php?f=92

There are templates for the letters here
http://www.consumeractiongroup.co.uk...splay.php?f=33

Mat

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