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Everything posted by ohoh4312

  1. Apologies - that is what I meant of course. Case of fingers and brain not talking to each other. Sorry x
  2. Interested in your comments 2Grumpy, and I will try to explain. I assume above when you talk about daily balances you mean the actual balance of the account at any given time? This is a sticking point because with microfiche data rather than actual statements, the account balance is not shown; it is simply a list of dated transctions. Therefore we are working on limited data, and trying to make the best from what we have. The 8% column is the statutory interest that you are legally allowed to claim through the Court process, on every amount that you have been charged. It is there to show how much your claim increases by once you submit the N1, and subsequently accumulates daily until judgement. Obviously when you first approach the bank you cannot ask for this, so you can just hide those 2 columns when you print it off. And yes, 0.22% is the accepted value for stat interest. Hope that helps. ohoh x
  3. No worries Landy - thanks for your feedback. Could it be the stat interest that is making the difference? I haven't used the complex spreadie myself, but I was under the impression that the 8% was not applicable to these claims, so I wonder if that is the case? And/or have you made sure that once you hit the overdraft limit you have just put the interest figure into column B? Sorry, I am sure you have, it is just that once you go past that figure, the calculation will return a value greater than the actual interest charged, giving a falsely inflated total. I did try to write a formula whereby the calculation would return the actual figure after this point, but it was beyond me I am afraid. Anyway, let me know when you get a chance please. ohoh x
  4. Hi Sunshine54 Yes, you need to start the Court action asap - the 8% is statutory interest which can ONLY be awarded by the Court. If you need any help with the claim, please post on your thread, or post a link here and you will get plenty of advice and support. HTH x
  5. Did you read that they CAN, or that they have done? The answer is NO, they cannot, but that doesn't stop them trying. In fact I was discussing this issue with BankFodder very recently, and he is vociferous in his opinion of this practice. On the subject of claims that have been stayed by the Court due to the Test Case, BF's view is that by pursuing/continuing enforcement action the banks are undermining the judicial process. I couldn't agree more, and I am taking my bank to task on this basis. The banks seem to think that the waiver works totally in their favour, and gives them carte blanche to turn the screws on their customers every which way they can. WRONG. The waiver - although I do not agree with it in its entirety - does afford protection to us from this very practice, and we need to make sure that the banks are reminded of this at every opportunity. Can you imagine the uproar if a bank started litigation proceedings against you for the recovery of an amount which was already the subject of a Court claim?? The judge would look none too kindly on the fact that his decision on a case, that was dependant on the result of another case, had been usurped by counter-litigation. Thats my view anyway.
  6. Okay, yes you can claim the interest charged on the charges that you have already claimed for, and the subsequent charges + interest. SAR requests have a statutory 40 day time limit, so you will not receive the info before the HoL judgement, but it is not set in stone that their judgement will be the end of the matter. I would say that you need to get onto this asap, but do not be put off by the HoL date, as I really don't think any major judgement will be handed down then. Sorry have to go, but I will be back tomorrow x
  7. Would you care to elaborate please? I have just read the Act that you refer to, and I cannot see how it is applicable to bank accounts. Also, I see no mention of 8% above base rate, or any actual rate quoted, so I am very curious as to where you got this info.
  8. Oh sorry hun, didn't mean to confuse you. "Cleared Transaction" is actually a charge - you know when they write to you and say something like: "We have paid the amount(s) listed below even though there are insufficient funds in your account...." How nice of them.... but then they charge you £20 (for example) for the privilege! It may be called something different by your bank - simply enter the charge description that you have on your statement - eg Paid transaction fee, Visa transaction fee, etc etc. Hope that helps x
  9. This is the spreadsheet I have been working on to calculate your Bank Charges claim including overdraft interest. There is a link here to notes I put in BankFodders' thread "Why let the banks keep your money....," but we thought it best to put it here also, where it should reach a wider audience. http://www.consumeractiongroup.co.uk/forum/show-post/post-2206756.html Please let me have your thoughts - the more feedback I get, the better the end result will be for everyone. Draft Int Calc2.xls
  10. Okay, sorted now. A simple solution to something that has bugged me for 3 days. So now the formula exists in every cell in Column B - except the very first, as it is assumed that you had to incur charges to be charged interest on those charges. This means it doesn't matter where your interest charge falls on the spreadie, as long as you use Column H for the actual figure, the calculation will automatically occur. Hopefully that should remove the need for inserting/removing rows, and generally make life easier. I could kick myself for being so dumb, and apologies if you copied the original version. I am not saying it is perfect btw, so I still need feedback please. Draft Int Calc2.xls
  11. AA99, and anyone else - please hang fire! I have just removed the spreadie, and am currently altering it. I was struggling with the formulas recalulating when everyone inserts lines, as they will need to, to accommodate the varying amounts of charges each month, and I just couldn't get my head round it. Now I think I have cracked it, so I will repost in a bit. You can all blame it on me being blonde, but my excuse is the streaming cold I am battling with - and no, I haven't kissed any pigs lately. I'll be back.......
  12. Hi all - sorry but I have had internet probs so not been able to get on here since yesterday. Anyway, I have now prepared a working copy of the spreadie, and it would be good if some of you used to input your data, and came back to me with any problems. There is one issue I have identified, but I have yet to come up with a workable solution, so it is still very much a work in progress. Notes: 1. I have prepared 10 pages, but if you need more (!) you can just copy the entire page down and the formulas will reset to the destination cells. 2. Make sure when you are doing the early interest charges that you enter the figure into the appropriate cell in Column H, otherwise you will overwrite the formula. Obviously once you have hit the point where the total charges are equal to/greater than the overdraft limit, then you can enter the figure in Column B as normal. 3. Your overdraft figure must go into Cell H7 (highlighted) in order for all the formulas to calculate correctly. Don't forget that this is your agreed overdraft limit, NOT how much you are overdrawn by. 4. The days elapsed will automatically change once you enter the relevant date - either dd/mm/yy or dd/mm/yyyy will work. 5. Overwrite the descriptions in Column A as necessary - once you put in the first couple of letters the description will automatically fill for you. Sorry if I am teaching some of you to suck eggs, as they say, but lots of people are not conversant with spreadsheets, so I have to try and make it as clear and user-friendly as possible. I look forward to your feedback - positive AND negative! xx
  13. Thanks yb - yes the calculations would be automatic, although it may involve copy & paste of formulas depending on the number of entries for each individual case. I thought about the fact that overdraft limits change over time, but I worked on the principle of using the largest applicable amount. The reason being that it would involve a lot more formulas, and become over-complicated if you kept changing the amounts, especially if the figure decreased at some point from a higher rate. It is very difficult to produce a spreadie like this in a "one size fits all" capacity, but hopefully by using the highest applicable rate it gets near to the mark, but other input/suggestions/advice are warmly welcomed.
  14. The interest paid by the bank is due to you on YOUR money and should not be taken into consideration, IMO. And in most cases the amount people have "gained" is negligible - some people have not been out of their overdraft for years - yours truly being an example - therefore "interest paid" does not exist on my statements! We cannot effectively rewrite the statements as if the charges were never applied, because that would adjust all the balances and in effect if it brought you ought of the red then MORE interest would be due to you. All we want is the portion of interest that directly relates to the corresponding charges, nothing more.
  15. Actually I don't agree that positive balance interest would have to be repaid - that is part of the agreement with the bank that they pay you interest on + balances, and deduct it on - balances. All we are reclaiming here is the interest deducted on the charges themselves, as 1) the charges are unfair, and 2) they have directly contributed to/exacerbated the - balance. Sorry if I am a bit slow off the mark here and this has already been explained.
  16. Draft Spreadsheet with info boxes if anyone would like to take a look: Draft Int Calc2.xls
  17. I have been discussing this issue with BF, and looking at formulas etc to cover this issue. However, it is vitally important to note that we are NOT talking about Contractual and/or Compounded Interest. It is simply about recovering the portion of interest charged that relates to the charges applied. My initial thoughts on this are as follows: Current Overdraft Rate 1,000 (a) Charges applied on (date) total - 60.00 (b) Interest applied on same date = 5.25 © Interest on charges = (©/(a))*(b) = 0.31 So then your running total = 60.31 (d) Next set of charges applied = 75.00 (e) Interest charged = 6.75 (f) Interest on charges = ((f)/(a))*((d)+(e)) = 0.91 Once your running total is equal to or greater than the overdraft figure, in this case 1,000, then you would remove the formula and simply enter the full amount of the interest charge. Gosh, it seemed so simple, but still looks really complicated when you lay it out like that. But on the spreadsheet the formulas would be embedded so that the calculations would be automatic. Please discuss, dissect and dismiss as necessary!
  18. Thanks for the quick reply BF, and I understand exactly what you mean. Bank is shabbey, and the link to my (horrendously long) thread is here: http://www.consumeractiongroup.co.uk/forum/abbey-bank/94341-us-abbey-7-500-a.html BTW, I don't know who added the ***won*** tag, but as far as I am concerned I only won a battle, not the whole war! But I understand the sentiment. I am ready to fight, and seriously appreciate your input and advice. Bring it on!
  19. Hi all Need some advice on dealing with cretins please! Brief -ish summary: Bank charges claim lodged mid 2007, and subsequently stayed indefinately. Overdraft left on account and not paid off due to a) court claim for over 3 times the amount, and b) severe lack of funds. Account passed to banks in-house debt collectors 2008 - managed to get the message across after a serious ding-dong battle. Applied for refund under hardship earlier this year. A month AFTER hardship letter delivered (as per POD) account passed to external DCA cretins. Hardship claim accepted, and paid last week - over 3 grand short of court claim amount. Cretins threatening letter ( addressed to other half only, even though it is a joint account) received same day as cheque. Email sent to cretins in my name - as OH has done a bunk - advising them that account in dispute etc etc. Reply received today by email - addressed to him, surname spelt incorrectly - saying client has advised that dispute has been resolved, therefore please contact urgently to discuss the situation. WTF?? Payment was made, according to letter, in order that I could sort out PRIORITY debts ie mortgage arrears, C Tax liability order, CSA liability order, secured loan arrears etc etc etc. So, can you help me with a suitable reply please? Just because I got some money from them doesn't make me rich - god I wish - its all been swallowed up, and the bank know that as I sent them a very depressing I & E spreadie. Appreciative thanks in advance xx
  20. Thanks very much both. I will follow your advice, and let you know. Thanks again x
  21. Hi all - looking for some serious help please. I recently seperated (well, OH just upped and disappeared) and therefore applied for Income Support, CT benefit etc. My IS claim has been accepted, but I received a letter from the council re CT benefit, stating the following: "You state that you are the owner of this property; please can you provide proof of this as we have reason to believe Mr X is the owner as he is on the Council Tax records. Please also confirm your relationship with Mr X as this will enable me to assess your claim correctly. I need to see original proof. I cannot use photocopies..." It does not say in the letter what they accept as proof - would a mortgage statement in both names suffice in answer to the first point? And how on earth do I confirm my relationship - now defunct - would the mortgage statement be acceptable here also? Or do I need to show them the kids birth certificates too? I did actually write to the Council when it all happenned, basically just saying that my name should be substituted for his on the Council Tax and any other correspondence. They obviously didn't get my letter. I have been on the electoral roll here for 11 years - is that not proof enough? Any help would be much appreciated. Thanks very much xx
  22. Hi there I am really sorry to hear this - I got landed in a similar situation years ago, and it took a long time for me to right his wrongs, and to trust people again. But it can be done. I have asked the Mods to move your thread to a more appropriate section of the forum where hopefully you will get better advice, and I have also asked for Site team assistance for you - they may be able to advise on the legal side. I sincerely hope you get some help for your sister. Best regards xx
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