oh forgot to add they also say this in the letter ... 'Further, even if you were successful in your arguments the bank would have a claim against you for dmages suffered as a result of your breach of contract in failing to adhere to the terms & conditions of the account. Such a clam would incur court costs & interest for which you may be held liable' :o Sounds pretty serious - is this standard scaremonger stuff?? :-?

oooaaaaahhhhaaawwwww I knew u were gonna say I'd av to send it back oh well, spose it's nice to see as a starter ... can I keep a photocopy? PMSL!

Sort of - I've already calculated the interest each month as n when the charges were added - My Q is more that I don't really use this a/c now - just pay in a bit of dosh every now n then to try n reduce the overdraft - I'm obviously still payng interest each month on the overdrawn balance & my claim for charges is MORE than my overdraft so they owe me more than I owe them. i don't wanna just claim back the charges + interest I wanna also include the extra interest added each month since up to the current date. Wot I've done is added a line onto the spreadsheet for each month with the interest charged details on to try & account for claiming this back but there are no more charges to add alongside Does this make sense - it's reall hard to explain in type!

I've had a cheque with the same terms today for about a 3rd of the claim ... yes u guessed - YORKSHIRE BANK! Was wondering what to do with cheque here is wot I'm asking on my own thread 'Wot if I keep the cheque but don't cash it & state something in my letter to the effect that I will withold until I receive another for the balance etc? I really am loathed to tear it up n send it back!' Link to my thread .. http://www.consumeractiongroup.co.uk/forum/yorkshire-bank-clydesdale-bank/40827-my-claim-yorkshire-bank.html Any thoughts? ur gonna just tell me to send it back aren't u .... sob sob!

As far as I understand it ... contractual interest is you charging the bank their interest rate (or whatever but usually either their authorised or unauthorised rate - up to you) for YOUR money they have - it's based on the principle of mutuality and reciprocity (or what's good for the goose is good for the gander) You are charging them for 'borrowing' your money Compound interest is just the way it's applied & is basically the adding of interest to the original 'stake' then adding interest on top of that - interest on interest! I'm claiming compound contractual interest on my claims now too & also using the Vamp's sheets Remember If you go down this route you CANNOT also claim the 8% under county court section 69 if it goes to court - only one or the other Hope this helps?

Wot if I keep the cheque but don't cash it & state something in my letter to the effect that I will withold until I receive another for the balance etc? I really am loathed to tear it up n send it back!

Getting ready now to start my claim - does anyone have any comments as to my theory on interest?

Oh right I see - pity the online statements don't go back far enough or give enough detail ... oh well - hopefully not too long b4 u get your statements

Sherlock the charges were stated as Administration charges - the interest was on the statements as service charge. If they haven't provided you with copy statements or at least a detail of the charges incurred then as far as I'm aware they haven't complied with your request - have they just provided you with a balance of account? Hope this helps?

Rec'd leter today from Neil McKirdy (Anyone had dealings?) with a cheque for £170.00 in full & final settlement and without admission of liability etc,etc. It also states that encashment would be taken as acceptance. Says bank would like to resolve without the disproportianate expense of copurt action. Also states the letter is written in an attempt to resolve without need for court action & is without predjudice to the banks whole rights & pleas and may not be founded on in any action to follow without the banks written consent (does this mean a copy can't be sent to court as evidence?) Obviously will do a refusal letter stating cq would only be accepted as part payment but what do I do with the cheque? Very tempting isn't it when it's in your hands! :-| Any comments on how to approach?

Update just incase anyone is interested - Cheque posted & letter sent as follows ... Studio Cards & Gifts Customer Services Department Preston PR20 2BP (DATE) Re: Account number xxxxxxx Response to settlement letter Dear xxxx Thank you for your letter dated (XXX) and your cheque for the amount of £xx.xx. As previously advised, I will accept this as part settlement only and request, once again, that you return to me a cheque for the balance of the total sum of my claim. I am disappointed that my previous letters and e-mail detailing the full amount of my claim appear to been disregarded. I made it quite clear in my letter of (DATE) and my e-mail of (DATE) the full amount of my claim. As well as the charges and interest I am also claiming interest on these levies at an annual rate of 39.8%. I believe this rate to be justified under the principle of mutuality and reciprocity, and is based on your credit charge rate that would be applied under the terms of the above mentioned account. I shall accept payment by cheque no later than Monday 20th November 2006. The total sum of my claim including interest at 20th November will be £xx.xx. I look forward to receiving your payment for the balance of this claim in full settlement. I trust this clarifies my position. I look forward to receiving your reply but as stated in my previous correspondence, should my request not be settled in full by cheque, I will proceed with my letter before action on 20th November 2006. You are reminded that there will be no extension to this timescale. Yours faithfully chezt Lets see what happens now!

Remember you can claim the charges & the service charges - this is what I have just had refunded in full. I'm now going to persue the claim for contractual interest (I sent them a revised Prelim letter a while ago) as they seem to have ignored my request for this. Basically I'm charging them interest at their rate for MY money whilst they've had it. Please let me know if I can help you in anyway with this - perhaps you could try sending a revised prelim if you haven't already done your LBA? May have to check with of the mods if you've done LBA already but I'm sure there is a way round it - why not try going for contractual interest too? Anyway - think about it & let me know if you need help

Still nothing - deffo looks like one for the courts! Only bonus is that I then get to add 8% interest to my claim

guess what!!??!! A blinkin reply in the post this mornin - only standard stuff - thanks for communication .....sorry not happy with service .....investigating & expect a reply within 10dys .. etc. etc Bit tough really though as I'd already been to Post office & sent LBA recorded delivery before I got home & opened post ...... whoops! Never mind - still not a satisfactory, positive response tho eh!

My cheque arrived today! Well before I get toooooooo excited they've only sent it for the charges + the interest I paid - they haven't settled the whole claim as they've omitted the contractual interest so it's about £100 short! Gonna do a letter 2moro accepting cheque as part settlement & see what happens - nowt to loose & my account is clear with them. Well actually it's in credit! Had a statement today confirming it too! Dunno what's happening there 'cos it's the service charge (Interest) refund & 4 x £20 charges!! Off to bank me cheque 2moro then! I know some have said not to as it's accepting the settlement but I'm gonna anyway & back it up with my conditions

Well done - they've been quick with me so far too!

Carol - did you get a cheque for your initial offer? I've had my cheque today for all charges plus the interest (Service charges!!) charged - They haven't paid the contractual interest I was charging them though so I need to send another letter. I don't understand what is happening with your claim - I haven't even got to LBA stage yet. If I were you I would forget about seeing the credit agreement (if you read my post they mentioned it in my letter but contradicted themselves!) and I would issue another request for payment - they really should not have forwarded this to a debt collection agency as your debt is in dispute - surely?!

Hi Gazzah - Didn't get to the post today but DEFFO 2moro! Still nothing in post either ... gogw - Luv it! Nice to know I've got folk watching too

You're much smarter than me doin your own sheet I spose if you have the confidence to understand it if/when u go to court then all the better Luckily, I don't have the added 'complication' of ppi on my claims. I've studied the vamps sheets & I'm happy that I understand the workings to a degree - but as they say on here time & time again - 'The argument is stronger than the calculation' (I think that's it anyway!) Basically as a lay person if you demonstrate that you have had a fair go at workin out your claim (which lets face it will never be spot on as the banks just make it sooooo complecated) then if it's wrong it's up to the banks to calculate it correctly - they are the ones 'on trial' here - not us!

Still nothing from Littlewoods or their solicitor - LBA runs out this week - They're cutting it fine if they're gonna make an offer - looks like this may be a trip to MCOL!

No change of tune to report - LBA duly typed & ready to post tomorrow - recorded delivery of course!

Well I never! The 14days has passed & no reply ... not a sausage! Just prepared LBA for posting on Wednesday 15th Nov

I see Steve - so your sheet will still account for the charges too then - I've used the Vamp's sheets n they seem to work ok for me - I'm claiming compound contractual interest on my claims too - it does make a difference Good luck with your claims mate!

Nothing in post today ... preparing LBA with tommorrow's date on so onwards we go .....

Well my deadline was up today to proceed to LBA & guess what?! I got a phonecall from customer services apologising & advising they are processing my cheque but as it's a very busy time of year it is a little delayed & they will get a cheque signatory asap - I said that I would accept payment no later than Sat 18th Nov & that I wanted to clear this up asap so prompt payment would be appreciated. I have just e-mailed them to confirm my 'gesture of goodwill' and advised the full amount including interest up to Saturday 18th & that if the cheque wasn't with me by then that I would be proceeding with my LBA on the Monday ;-) Checked my online account again & they have credited the £24.93 they offered in their last letter & it's still the other £80 in credit for refunded charges! Keep watching for next installment!