Hi,

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

Hello

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.

And good luck:D

SM:p

You could on the other hand be referring to debited / overdraft interest. If you are then this should be claimed from the start.

Hi,

 

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?

Clarification needed i think.

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