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arni999

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  1. Well, they have refunded me £750 today which is nice of them, but the best is yet to come... They also took out £90 in overdraft excess charges at the same time. They really do know how to p**s me off!! Can someone pleeaaase answer my question from above as i am now looking to send my N1 form to the court but don't know how to word all of the changes i have made to the schedule i.e. £750 deduction from the charges and the fact that i still want to charge them contractual interest on the sum that they have so far paid me back. Please someone help and thanks in advance Regards Mikey
  2. Hey Tedsbird, Thanks for that. I think they are realising that it's costing far to much to go to court every time. Not that it's going to help them when it comes to offering CAG members part refunds. Rock solid us lot!! Mikey
  3. Thanks Gary, i had to read that a few times to understand. hehe (only just got up!! lol) They haven't paid it into my account as yet but have said it will be in my account within the next few days. But... if say they had refunded it into my account today and as of today the total interest they owed was £847.95, what i need to do is take off 750/29 = 25.862 from each charge? Find the new total amount (£383.68.) of interest and deduct it from the £847 = £464.27? The £465.27 should then cease to acrue interest but the remainder of £383.68 will continue to acrue interest at the daily rate of 383.68x0.00022 = 0.0844% per day? ok, i think i just about have it so far So far so good then i think but this is where i come unstuck, how do i word the N1 form to include all of this new information? Obviously i'll be claiming the £464.27 interest at a static level but the £383.68 interest will remain dynamic as interest will continue to acrue on a daily basis. Also, how do i word the fact that i have altered each charge on the schedule to reflect the charges that have already been refunded? Is there a template for such eventualities or will i have to start from scratch? Corrrr Blimey, my head is really hurting now!! At least this is giving me something to do though, as i'm stuck at the dropzone and the weather is awfull. Therefore no skydiving! A pretty boring place when theres nothing going on! Regards Mikey
  4. Ok, This morning i received a letter from Lloyds that started off with the general BS that they usually send i.e. "...We've already explained that we believe it is fair to charge you for extra services you've requested, as long as you know about the charges in advance..." etc etc It then goes on to say; "...Generally we don't agree to adjust any of these charges, but i can tell you that on this occasion we are prepared to reduce the charges by repaying you £750. You may have read that we and the other banks are discussing overdraft charges with the Office of Fair Trading. Meanwhile we do consider each customer's position individually, and we are making you this offer as a gesture of goodwill because we might face that cost in dealing with your complaint if you took it any further. (damn right they would) I need to let you know that this does not mean we consider we have any legal obligation to do so. This sum will be credited to your account in the next few days. As i've explained, these charges are avoidable and we would strongly urge you to keep within the limit you've agreed with us or to ask us now to se if we could increase it for you. (right yeeaaahhhh, and get myself further into debt with them?? I don't think so!!) This letter is the bank's final response, which means that if you remain dissatisfied you may refer your complaint to the Financial Ombudsman Service. If you decide to persue your complaint through the Financial Ombudsman Service you must do so wthin 6 months from the date of this letter. I have enclosed their leaflet that outlines how to contact them." So what does this mean in terms of court action? Obviously i sent a letter 2 days ago requesting that they refund my charges in full and that part payments would not be accepted (as can be read in my previous posts). Obviously if they are to credit my account within the next few days i will have no choice but to accept. What do i need to do now? If they have given me £750 back i would obviously have to deduct this from the claim. But by accepting, does this mean that i am unable to claim the rest via the courts? Also, how will i recalculate the interest, do i just take off £750 from my charges schedule and file that? Thing is though, in my last letter i specifically said that i would not accept part payment and that if they offered me anything less than the full amount then i would proceed with the court claim. I would really rather not accept any part payment but i am unsure how to 'not accept', if you now what i mean. I'm so confused, what do i do now? I really need some help now as i haven't got a clue how to proceed!! PLEASE HELP Regards (a very confused and frustrated) Mikey
  5. Excellent, thanks very much for that Gary. I'll get it sent off tomorrow. Next week then i can get my claim in Mikey
  6. Hi Tedsbird, thanks for that. I am sticking to letters only and certain deadlines. It's a good idea but i think i will try to stick to my structure as i won't be accepting any part payment. I have now re-edeited by final LBA so it reads as below ____________________ LETTER BEFORE ACTION Dear Sir/Madam, ACCOUNT NUMBER: xxxxxxxx I am very disappointed with the response to my letter dated 14/12/2006. I now understand that the regime of 'fees' which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits and so forth are unlawful at Common Law, Statute and recent Consumer regulations. I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law. I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary. I calculate that you have taken a total of £1375 from my account. Should you wish to settle this matter in full out of court (part payments will not be accepted) then I am willing to add no interest to the total amount owed. However, if full payment is not received then I shall take this matter to court. At this point I will be adding contractual interest at a rate of 29.8% on the principle of mutuality and reciprocity. I am enclosing a copy of the schedule of the charges for which I am claiming. I have already sent you two copies of this with my original letters, the last of which was dated 14/12/2006. This schedule does include the contractual interest and currently stands at £843.16 as of today. This interest accrues daily. Although, as I have stated above, this is not to be applied if settled in full out of court. I require repayment in full of this money. If you do not comply fully within 7 days then I shall begin a claim against you for the full amount plus interest, plus my costs and without further notice. __________________ Does this sound better or worse than before? Regards Mikey
  7. Edit out above to put it in: I calculate that you have taken a total of £1375 from my account. Silly me hadn't read it through properly!! :o
  8. Excellent, thanks Gary. This is what i have now written in my latest LBA. Note: I have only given them 7 days to comply this time as they have already had since 01/12/06 to settle: ____________________ LETTER BEFORE ACTION Dear Sir/Madam, ACCOUNT NUMBER: xxxxxxxx I am very disappointed with the response to my letter dated 14/12/2006. I now understand that the regime of 'fees' which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits and so forth are unlawful at Common Law, Statute and recent Consumer regulations. I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law. I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary. I calculate that you have taken £1375 plus which you have charged me in overdraft interest for the sum which you have taken. Total £1375. I will accept this amount in full should this matter be settled out of court and I am prepared to add no interest to the sum at this point. However, should this matter enter the court then I shall be adding contractual interest at a rate of 29.8% on the principle of "mutuality" or "reciprocity" I am enclosing a copy of the schedule of the charges which I am claiming. I have already sent you two copies of this with my original letters, the last of which was dated 14/12/2006. This schedule does include the contractual interest, but as I have stated above, this is not to be applied if settled in full out of court. I require repayment in full of this money. If you do not comply fully within 7 days then I shall begin a claim against you for the full amount plus interest, plus my costs and without further notice. Yours faithfully, Mikey ________________________ If this looks reasonable i will send but if i can improve it in anyway, i would be greatful if someone could throw their ideas this way Also, whilst im on the subject of contractual interest, i have seen a P.O.C. somewhere on here that included what to say regarding contractual interest. It said something along the lines of "...but should the court see this interest as innappropriate then i will be claiming statutary interest instead..." Can someone point me to the link where this POC is pasted so i can print it out for future use? Everyones help is very much appreciated with all this so thank you VERY MUCH Regards Mikey
  9. Hi there, no i want to claim for contractual interest like the banks charge us when we go over our overdraft limit. Not sure if i should have included it in my LBA though and if i didnt, does this mean i cant claim it. Also, what do i need to change on the template so it is included? Regards Mikey
  10. Anyone at all? I can't go ahead with my claim until i know what i need to do so i'm desperate. Regards Mikey
  11. NEED HELP!!!! I'm just about to put in my MCOL (would have preferred to do it over the counter but the court is miles away and i work full time). I want to claim contractual interest on the charges that have been levied on my account. I didn't include contractual interest though on the LBA so can i still claim it? Or is it a case of because i didn't include it on my LBA, i can't claim for it? If i can claim for it, how do i alter the MCOL template to include this? Would really appreciate any help that is offered, especially from the all knowing GaryH hint hint!! hehe Regards Mikey
  12. If you go to google, type in your bank name along with 'interest rate' it will bring up the relevant pages. If you want to know what Lloyds charge though, here is the link: Lloyds TSB - Current account rates Mikey
  13. Aha, well the bank has charged me interest at a rate of 29.8% every time i have owed them money (via unauthorised overdraft) so why shouldn't the same apply to them? I don't believe i have 'authorised' Lloyds TSB to have any form of overdraft facility from myself and i would therefore argue that from the first time they unlawfully drew upon funds from my account, they have held an unauthorised overdraft of their very own! Like you said before though, it will ultimately be up to the court to decide which rate of interest is fair. Pen, good luck with your claim and don't take any cr4p from Lloyds. Hijack finished! Mikey
  14. I'm intrigued about this 'contractual interest'. What exactly is it? Pen, how did you work yours out? Didn't mean to hijack the thread but i thought the topic was quite relevant as you have talked about it quite a lot. Hope you don't mind Mikey
  15. Thanks for that Gary, i'll have a look into them. I've been skim reading both the consumer credit act and also the 2006 amendment to try and find the relevant sections that refer to unfair charges and penalties. After going through both of them i have drawn a blank and couldn't find any particular section that is specifically related to the said matters. I have read through the Unfair Terms in Consumer Contracts Regulations 1999 and have found all the data related to unfair charges etc, namely section 5 in it's entirety (of which i found sub section 4 to be very relevant if my case does go to court), and also section 1e of schedule 2. I believe that these are the most relevant areas within the UTCCR but if anybody can suggest anything else from the regulation i would be greatful if you could let me know. What i am ultimately looking for though are the most relevant sections of the CCA 1974 and the amendment of 2006. I'm not exactly used to reading the sort of terminology explained within these types of documents so it might be the case that i can't see the wood for the trees! Therefore any help that anybody can contribute will be greatly received Mikey
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