bgqs v Halifax

[bgqs]

Okay, I issued my SAR and have recieved a list of charges (not statements) amounting to £336.00

 

I was simply going to issue my Prelim letter but there is one problem. Halifax have not given me details of interest that has been charged and I want to claim contractual interest on this amount. Is this still possible ?

 

Can I apply a notional % of interest to my claim pre-court in lieu of the 8% statutory interest.

 

I have done a lot of reading on this but dont really understand the best method to take considering I have not been given information of interest deducted.

[dpick]

Hi bggs from my reading most people are claiming back charges then when entering claim at court adding 8% interest.

 

good luck with your claim

 

dpick:mad:

[bgqs]

I am looking at it another way. Here are the figures:

 

If I claim Statutory Interest (When claim is filed in Small Claims), I will be entitled to 8% to be added to the claim figure.

 

Eg. £336 + £138.47 = £474.47

 

However, if I opt to apply for the contractual daily rate of 0.16p (18.9% AER) to the claim value of £338 and advise them of this in my Prelim Letter & LBA, then the figures work out to be as follows based on when the charges were deducted:

 

Eg. £336 + £484.58 = £820.58

 

I know it is questionable whether compound interest would be deemed satisfactory by a judge but if I could provide evidence of previous claims that were calculated using this method, then surely it would go in my favour.

 

???

[bgqs]

As I best going for the contractual interest method ?? Anyone ? Sorry to push but I want to send my prelim letter tomorrow

[bgqs]

Okay contractual interest method being used....Total claim is:

 

I calculate that, as at today’s date, you have taken a total of £280.00. In addition, I also claim Contractual Interest (compounded) under the principle of mutuality and reciprocity in our contract and as such, enclose a summary of charges and interest with this letter for your information.

As Halifax PLC has taken unlawful charges from my account, this constitutes unauthorised borrowing – thus, the rate of Contractual Interest used is the bank’s unauthorised borrowing rate.

The standard rate of unauthorised borrowing set by Halifax PLC is 29.8% EAR (see Halifax PLC Current Interest Rates), therefore this rate is added to the above amount and will continue to accrue (at a rate of 0.20p per day) until this claim is settled. I calculate the Contractual Interest element at £778.61 (to 16th March 2007).

The total amount claimed including contractual interest is £1,058.61.

 

Let the good times roll

[bgqs]

LBA being posted Monday 26th March 2007.

[bgqs]

N1 Being Sent Sat 7th April

[bgqs]

I have received an offer from Halifax in the order of £517.98. The amount of interest has been recalculated to £117.98 rather that the full amount of contractual interest claimed...

 

They have advised that if the offer is not acceptable, then they will enter their defence....are they bluffing ?

 

They have said they will refund the charges, an element of calculated interested and incurred court fees...however, this is some £660 short of my claim valued which included contractual interest...

 

Should I refuse their offer ?

[bgqs]

I have partially accepted the offer from the Halifax and requested to have a judgement in default made for the balance.

 

However, Halifax have now entered a defence and I have received an AQ to complete...

 

Should I go for the Contractual Interest balance ??? What is the chance of Halifax defending this one ?

[bgqs]

I have partially accepted the offer from the Halifax and requested to have a judgement in default made for the balance.

 

However, Halifax have now entered a defence and I have received an AQ to complete...

 

Should I go for the Contractual Interest balance ??? What is the chance of Halifax defending this one ?

 

I need advice on this one asap...thanks

[sea-sidelady]

They have recently thrown a case out (http://www.consumeractiongroup.co.uk/forum/halifax-bank-bank-scotland/11164-cank-halifax-9.html#post847697)

 

This guy was in the same position as you. He had won his claim, and was going after the CI.

[bgqs]

Thanks. I did read this thread but his claim was pre-6 years so it may have failed on the limitations alone ?

[Bigmac versus]

As sea-sidelady rightly says canks case was lost, right enough to say it was over the 6 years also and it may have been any or both that swung it but it was lost which dosent give much encouragement.

Sorry i cant say YES/NO but that choice is yours based on what you have read within the forum and i must admit there isnt much there that would make me pursue the CI especially as it is the CI alone that you are chasing.

[doo]

http://www.consumeractiongroup.co.uk/forum/halifax-if-successes/18017-me-helifax.html have a read of this, if you are claiming CCI you should reject any offer to keep your claim intact, I see you have already accepted a partial offer and now it is really up to you if you continue for contractual alone, the link I have posted for you should help.

[bgqs]

Okay decision made....I dont want to risk paying £100 for the allocation questionnaire and not being able to get the money recovered...I will tell the court that the claim is settled.

 

Thanks all...