Hi

i have been with the Co-Op since 1982

i have every statement

i have been unhappy for the whole of that time over charges.

thru the media & now thru recommendation i come to here

i am going to start the process.

i have not done any calcs etc

i have yet to read the stickys/FAQ.

maybe we can help each other.

i will document each step i take

i will start doing this over the xmas holi period.

if i have all the statements already, do i need to apply to the bank for them again?

where do i state my claim process?

thanks

dx100uk

Hi DX100uk. Welcome to the family.

I would advise you to spend a few days reading the FAQs and the step by step guide in the library section. There is a shed-load of information available and the more you learn about the process the easier and more enjoyable the whole process will be.

If you have all your statements then you can start the proceedings by transferring the details of all the unlawful charges on to a spreadsheet, (see templates library).

When you have list of charges ready (your schedule) send the preliminary letter (also in the templates library) to the bank and enclose a copy of your schedule to support your claim. You should find the address on the top of your statements.

PLEASE NOTE. You can claim back up to six years charges. Any more is barred by the statute of limitations.

Post any questions and progress reports here, in this thread. You will be able to draw on the experience of other users who are dealing with your bank.

Good luck with your claim.

Regards, Rooster.

thats a very nice reply & i thank you for it

i shall now move fwd to compiling those charges which cover that last 6yrs & get down to some reading

thanks again.

dx100uk

There's alao a useful guide to getting your head round the co-ops rather bizaare descriptions of charges:

http://www.consumeractiongroup.co.uk/forum/cooperative-bank/36308-beginnings-charges-guide-historic.html

ive done my spreadsheet from vampires site

simple compounded contractural interest one [the one vamp recommends]

£*****total amount + £***** int claim = £*****

is there any one that can have a look over it please to make sure + how do i do this , give people access??

regards dx100uk

ok well i sat down last night and redid the figures using the figure of 16.9% and its £****

so the prelim & spreadshett are it the post this morning 1st class.

dx100uk:rolleyes:

std apolo letter received this morning from coop

dx100uk

ok, well just gnore it and keep on with your timetbale - when the 14 days expires, issue the LBA

just looked at the A/C on line and they have re-paid my total for every charge i listed, inc the [serveral] £10 service charges & inc a £25 charge i know was for setting up my £1k O/D a few years back.

now, my next question then, tomorrow is [was?] LBA time, views on sending it & keeping the claim going to get the £500 odd i also wanted back for compound interest?

my thoughts are yes!

dx100uk

You can only claim the interest if you go to court, is my understanding, and as they have repaid the monies owed you have nothing to take them to court for. Bit of a pain that, but I think that's the way it is.

thanks for that& the one in the other thread.

i'll leave things there then.

claim concluded ************ WON ************

dx100uk

percentage being paid to funds

I'd double check that- I have never even claimed the compound, but it is my understandign you claim that from the beginning....I may be absolutely wrong though - do a search for a thread called "Why is nobody claiming compound interest?"

Yes, my mistake: you can claim compound interest, but not the statutory interest. However, you will need to know what interest rate you were being charged at the time you were unfairly charged, then add that up. As Smile inconveniently apply their charges on the 21st of the month, it usually meant a few days of interest being charged up to pay day for me so wouldn't have amounted to enough for me to spend a day or so working it out, but that is a personal choice.

Yes same for me Robbie, personally I haven't claimed it.....but that is my personal decision!

got a personal letter today regarding the refund.

signed by a Dennis Moffatt Customer Relations Officer

barring all the usual blerb about being sorry. a couple of bit might be of interest to people here.

As you are aware, the charges are valid & in line with the terms of your account. However having reviewed your A/C i can confirm the total charge of £***.** has been refunded to your A/C as a goodwill gesture.

Interest was not included in the Office Of Fair statement you refer to regarding default charges. I am, therefore, unable to meet your claim for interest. etc etc.

************

i have read a few choice letters on here and i think i am going to write to him back.

how can he say in one sentence 'they are valid' and in the next say 'they have been refunded'.

This interest bit is good too.

so it's ok for the bank to charge us interest when they lend us money, but not Ok for us to charge them when we lend them money!

thoughts welcomed

i have not 'stopped the clock' yet, though i've spent the money!! LBA was due on the 18th.

dx100uk:!:

latest

i've written a letter to Mr Moffatt indicating i think it is unfair they will not repay the interest etc etc. giving 14 days before further possible action

see what happens

dx100uk

Charge them at their unauthorised o/d rate.

We are.

Un!Boy

Th thread is actually titled "Why is no-one claiming CONTRACTUAL interest?", and I would be interested to know who has made a claim for this and won it?

P

well i just checked the A/C online & i've got another £50ish ADJ COMMISSION entry.

so something is going on, i'll have to wait for the exp letter, to see what it is.

now it is nowhere near my cont int figure i quoted them, but, if it is to do with my claim, then it must be some form of 'addition' ontop of the charges which they have already repaid in full [minus int].

the 14day deadline is near, so they might be wriggling a bit.?

got me puzzled as to what it in relation too..oh i cant wait for the letter, could this be the first sign of Co-Op returning cont interest?

dx100uk

Well they have paid the interest at 8%

just got a letter from Sharon Rankin - Customer Complaints Manager.

usual blurb.

but with an added sentence which says:

Regarding the interest on the A/C. the Co-Op will offer 8% on the amount refunded. This is accordance with the FOS guidelines.

So case concluded.

mod can you please move this thread and mark it as closed.

thanks to everyone DX100uk

:lol: :lol:

Well done thread changed to settled and moved.

Thanks for the donations...and of course your help in sticking with us.

here is the text of my 2nd letter for ref:

Dear Mr Moffatt.

I thank you for your letter dated 17th January, 2007 & I also thank you for the goodwill gesture of remittance to my A/C of £703.50, this I accept as partial payment in respect toward my on going claim against you.

I am finding it difficult to understand how a bank of such repute seems not to operate on the principles of "mutuality" and "reciprocity" mentioned in my banking contract with you.

I am fully aware that the Office of Fair Trading statement made no direct reference toward interest. However, it is respectfully my view that the sum above was unlawfully taken & was therefore the equivalent of borrowing by you, from me, over a period of up to 6 yrs. Thus this sum should attract some type of interest in my favour.

I will give you 14 days from the date of this letter to indicate some form of positive action on your behalf toward refunding the outstanding amount to my account.

Failure to do so will leave me no option but to start Court Proceedings.

Yours faithfully,

:twisted: :twisted:

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