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taylormandy

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Everything posted by taylormandy

  1. I claimed (and received) unauthorised contractual rate at 24.9%. I had severed my claim and this was the most recent portion (2004-2006) so the charges only went back a couple of years. I'm sure there are some who will shake their heads in dismay at my ignorance, but when I was looking into the question of interest rates back in July, there were only the 2 spreadsheet available, simple and complex and I wasn't even aware of the compound v simple interest discussion. As I freely admit, I am a complete novice at all of this and just changed the 8% to 24.9% in the relevent column in the advanced spreadsheet. For some reason, my computer keeps closing down the internet when I click on my own thread in Nationwide Successes, so I am responding in this thread, which it doesn't seem to mind me doing!
  2. I have heard today I have been refunded a further £2918.95, £811.45 of which is "to cover lost interest". It is slightly shy of my total claim, but I seem to have been refunded most of the 24.9% I asked for. The only trouble is, it has been paid into the account which they are closing and I have no access to, so I am now sorting that out. :D :D
  3. The Nationwide closed my Flexaccount account once I reclaimed my charges, but seem happy to keep my money in my ISA! There has been no mention of closing my ISA, however, I will be moving it shortly!
  4. I don't think it makes any difference, but if you post it, make sure it goes recorded delivery, and if you take it in by hand, make sure you get a receipt, including the name of the staff member you give it to and that it states it is a letter asking for return of your charges. Be reassured you will get your money back, don't be put off by their delaying tactics. There will always be somebody here to help you.
  5. Just to update..... I received no answer at all to my preliminary letter, and to my LBA was told my complaint was being passed on. I received no further communication. I have now sent my N1 forms to my local court and am waiting to hear. Will let you know how it goes!
  6. I was advised to sever my claim as it was over £5000, as have other members on the forum. I certainly wasn't advised I may have my second claim thrown out. I successfully claimed back the initial amount. I am a week into my LBA for the outstanding amount. It now seems I may have done the wrong thing. Has the advice changed now that it is apparent that the banks are not going to court?
  7. I can't tell you how much satisfaction I have gained through getting my money back. When I think of how many double shifts and agency shifts I worked just to keep our heads above water, with a baby only a few weeks old, only to see it swallowed up by astronomical charges, I get so angry. At least I am getting them back, but it doesn't bring back the times I missed with my children when they were tiny. By helping myself and other family members and anyone else I meet, to get their money back, I feel a little better. My frustration is that everybody knows these charges are unlawful and yet the banks keep on doing it. Not everybody knows they are unlawful, or that you can get your money back and it's these people I really feel for. I guess that's why we must spread the word!!
  8. Hi. My total charges were just under £7000, so first time I claimed Approx £4975 charges, then added 8% at the moneyclaim stage. They said they were going to defend, but then paid up! I then needed to claim the remaining £1900, but this time decided to go for the contractual rate for unauthorised overdrafts right from the start. Bear in mind that the contractual rate is taken into account when determining small claims or fast track (the £5000 limit), but the 8% statutary rate is not. If this second claim gets to the moneyclaim stage, I obviously will not then add the 8%, BUT will claim it as an alternative in case the judge doesn't agree. So hopefully I can't really lose. I will either get the 24.9%, OR the 8%. I used the "complex calculation spreadsheet" emailed from vampiress and yes, I included those monthly interest charges as most of the time I was overdrawn when they were applied. The spreadsheet is very easy to use. As far as I can tell, if you take it over the £5000 and take it out of small claims, your main risk is that you are liable for costs up to £750 if you lose. Good luck with your claim and keep us posted! p.s. After this claim, I am going to try and claim for charges between 1993-2000!!
  9. I successfully got approx £6400 back earlier this month, but had to sever my claim. I am now going for the remainder which is just under £3000. This includes adding contractual interest at 24.9% (unauthorised rate). I'll soon find out if this is a step too far! Prelim letter sent 14.7.2006 - no response. LBA sent 1st Aug. I'll keep you posted!
  10. Hi thanks for your reply. I realise the 8% can only be claimed at moneyclaim stage, but I am considering claiming contractual rate of interest. As far as I am aware, this can be claimed right from prelim letter stage. Obviously, I would not then claim the 8% at claim stage. My problem is that I don't know how to work out the 24.9% on each charge, unless I go through and do it manually. I wanted to see if I can change the formula in the spreadsheet to do this!
  11. Can anyone help on this? I'd like to try and claim the contractual rate, but can't see how to change the 8% column to contractual rate. Thanks
  12. I have recieved the spreadsheet for complex calculations, but I cannot see how to change the formula from 8% to the contractual rate. Can anyone assist? Thanks.
  13. Thanks for that advice. I'll keep reading around and around until I'm sure. I probably will go for the unauthorised rate. Let me know how you get on. Do you know if anybody has yet succeeded with the contractual rate?
  14. I have a few questions regarding the contractual rate. Nationwide charge 7.75.% for an authorised o/d, 24.9% for unauthorised. As my charges occured because I was over my o/d limit and in those months I was charged an unauthorised O/D fee of £20, is it right to assume I claim the 24.9% rate? Do I claim this 24.9% on the whole lot of charges? Obviously, my account is not over the o/d limit all the time, so is it still ok to claim the higher rate? I'd be grateful for any help. Thanks.
  15. As far as I am aware, Nationwide will close the account of anybody who claims their charges back. They certainly gave me 30 days notice of closure after I got my charges back! Good Luck with your claim - your money will be back with you very shortly! :grin:
  16. Juicy, I'm so pleased for you. Isn't it a fantastic feeling when you see that money go in! Well done you!
  17. "However, having reviewed the schedule of charges supplied under cover of your email dated 6 July 2006, we note that your claim includes various charges which were incurred more than 6 years before the date on which you issued your claim (13 June 2006). We would point out that you are prevented from reclaiming these charges by the Limitation Act 1980. In particular, you are not able to reclaim the charges you have listed as incurred during the period 30 September 1999 to 30 May 2000." From Seminole's post. How does this leave the argument that we may be able to go back further than 6 years? - see Bankfodder's thread in "general". Are you going to try and argue against this? That the banks were deceiving you as to the true costs of the charges? I ask because I am interestd in going back beyond six years.
  18. Hi, I have recently had my charges refunded and am sending the prelim. letter for the next lot (as it was over £5000). I would be interested in persuing them for the amounts between Nov 1993 and March 2000. Has anybody yet had success claiming beyond the six years? I haven't sent the Data Protection Act letter for this period yet, so cannot estimate the amount as yet.
  19. The very best of luck to you Juicy!! It won't be long now!!
  20. Thanks to you all for your kind words!! It truly is a wonderful feeling and Tia, be reassured that you will get your money, although I'm afraid dolly is right - I had the closing account letter on monday! - I bet they will be pleased when I go back to claim the rest of my money! I had to sever my claim as it was over £5000. I will then investigate the possibility of claiming for more than six years ago!!
  21. :D :D :D I checked my bank balance today and found I had been refunded all of my charges (just under £5000). I haven't yet had my court costs or interest as yet - I assume I will get those in the coming days. Once this is settled, I will go back for round two!! ( My original amount of charges came to just under £7000). So all of you going through this process - YOU WILL GET YOUR MONEY BACK!! p.s I will fill in the survey when I get the costs and interest back, but I will donate today!
  22. I will have to go back for more, as I had to sever my claim because my charges were over 5K. My moneyclaim was considerd "served" yesterday so I am now just waiting. When I get my refund I will have to claim again on the same account for the outstanding amount, but as you have done, will suggest as I've already (hopefully!) claimed once it would be just as well for them to cough up straight away!
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