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bolivar

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Everything posted by bolivar

  1. I wrote back and demanded the full amount of all the charges, plus contractual interest, as in my original claim, and have now received a further letter which in essence just repeats their original offer, i.e. the difference between the charges levied and £12 in each case. I guess the next step would be a small claims action, but I am just not sure how much work this involves. What is the first step? Also, I am in Scotland, but Capital One are obviously in England, so I would have to decide in which jurisdiction to bring the action. I have read somewhere that I can start a small clain online through MoneyClaim OnLine, but only if I have an address in England. Can anyone tell me whether I can do this using s family member's address in England, even though all the previous correspondence has been from my home address is Scotland?
  2. bolivar

    Bolivar vs MBNA

    Hi everyone, Success with MBNA - they have now agreed to pay in full all 3 claims I had made, including contractual interest - total £884. Very pleased, thanks to all on this site for your help. How do I transfer this to the successful claims thread. Bolivar.
  3. No we haven't, next stage would be an LBA (if we decide to go for the interest too). Bolivar
  4. Got the £410 charges back, just deciding whether to go for the contractueal interest as well. Bolivar
  5. bolivar

    Bolivar vs MBNA

    Hi all, Good news - have now had the full amount back from MBNA, i.e. including the contractual interest I claimed. Total £334.67, including £153.67 interest. I currently have 2 other claims in with MBNA, which so far are following the same pattern - i.e. they have initially offered to refund the charges without interest, to which I have responded with an LBA, claiming the rest of my original amount, i.e. the contractual interest as well. How do I transfer a post to the successful claims section? Thanks to those who have offered their help. Bolivar
  6. Whey hey, Got a letter from RBS today, offering the whole amount of my claim, £616, i.e. including contractual interest at their authorised OD rate. Result! Persistence pays off in the end. How do I move this to the successful claims thingy? Bolivar
  7. I Have submitted 10 claims to different banks and credit card companies to date (since end of December), and have included contractual interest with all of them. None of these claims are actually concluded yet, but so far noone has agreed to pay any interest at all, (even where they are agreeing to refund the charges), except the Coop, who are offereing to pay 8%. However, their calculation is in fact a flat 8% of the charges refunded, rather than a calcultaion of 8% p.a. on the charges they have levied since the date they were levied, over the course of 6 years - makes quite a difference. I'm still going for the contractual interest, and am getting near the point where I will initiate proceedings in relation to some of these accounts. I understand that the courts are by no means certain to award contractual interest. If that is the case, would they award statutory interest instead? Or might I lose out on the interest element of my claims altogether. Basically, I am asking whether it is in my best interests to claim contractual interest, statutory interest, or no interest at all, when it come to making a court claim. Thanks, Bolivar
  8. Update: Had a letter on 8th February, offering me £320, i.e. they have excluded 2 charges totalling £35.33 without any explanation, and have mentioned nothing at all about the £265 interest I claimed (at their overdraft rate of 19.05%). I wrote back, asking them to explain the omission of the 2 charges, and reiterating my claim for a refund of the interest on these charges. They replied on 19th February, repeating the offer of £320, with still no explanation of the 2 missing charges, and refusing to refund any interest, on the grounds that their offer is a "goodwill gesture". Does anyone have any thoughts on whether I should just accept the offer, or demand an explanation of the £35.33 again, and/or demand the interest again, or just go straight to a small claims proceeding? Has anyone successfully claimed interest from RBS? Thanks in advance for any advice, Bolivar
  9. Hi, I submitted a claim to Capital One on 3rd Feb, for £182 plus £134.36 interest at their current rate of 1.405% monthly, totalling £316.36. They have now replied, offering to refund the difference between the charges they have applied, and £12, "in line with our competitors", and saying that they will be sending me a cheque for £50 within 14 days. There is no mention at all of the interest I have claimed. I will obviously not be accepting this, but was just wondering how anyone else has got on claiming interest from Capital One? Any draft letters covering this kind of thing that anyone could let me have copies of? Thanks, Bolivar
  10. Following further correspondence with the Coop, they are sticking to their guns, but in a very confused manner. 1. They are saying they have recalculated our charges, and that they total £603 (last letter, they said £503), of which £192.50 were previously refunded (i.e. at the time they were applied), leaving a total of £410.50. The £495.62 they refunded in January was, they say, a mistake. I still make it that the total charges due were £560 (taking into account charges already refunded). I asked them to explain which items in my Schedule of Charges they were not accepting, but they have not responded to this. 2. In response to my claim for £192.50 interest at their own overdraft rate (13.9%), they have said that they "only refund interest at 8%", and that they have credited my account with £39.65 to meet this requirement. It appears that they have simply credited us with 8% of the total they have refunded, i.e. £495.62, not taking into account the number of years over which these charges have been accumulated at 8% per year. Finally, they advise me that "failure to comply with the terms and condition (sic) of the account will result in us giving you 30 days notice to close". I feel like giving up, how do you deal with these people, is this stupidity or deliberate obfuscation? I won't in fact give up, of course, and will be writing back. Any thoughts on whether I should still go for the 13.9% interest, or whether I should accept their offer of 8%, once they have worked it out properly. Their threat to close our account is rather vague, but what do we do if they proceed with this? Thanks, Bolivar.
  11. bolivar

    Bolivar vs MBNA

    Just following up on my last post, got a letter today, saying they are paying £181 as a "goodwill payment", which happens to equal the full charges I claimed from my MBNA Visa card, but not mentioning the interest I had asked for at all (£153.67) - i.e. contractual interest. Any ideas about where I go from here? Has anyone succeeded in getting contractual interest awared by the Small Claims Court? Bolivar
  12. I put in a claim to the Coop on behalf of my wife on 16th March, for £418 charges, plus £168 interest at the authorised overdraft rate, i.e. contractual interest. They have just written back saying they are refunding the full amount of the charges (£410 in fact, £8 was a mistake) , but declining to pay any interest., as the OFT did not refer to this in their ruling. Has anyone actually had any success in claiminginterest, contractual or otherwise, from the Coop. Do we just accept the refund, or should we go for the interest too? All advice or suggestions gratefully received. Thanks, Bolivar
  13. Well, We've had a reply from Sue Sheehan, Customer Relations Adviser, telling us that they are refunding £495.62 into our account as a goodwill gesture. In fact, the money had already gone into the account before we go the letter. This does not even repay the charges we are owed (£560), not to mention the interest we are also claiming. The letter gives no indication of how the figure is arrived at, nor does it acknowledge that it falls far short of the amount we have claimed. I have drafted the following reply, which I plan to send off tomorrow morning. Any thoughts? "Request for repayment of charges ACCOUNT NUMBER: ******** Thank you for your letter or 5th January. I note that you have refunded £495.62 to our account as a “goodwill gesture”. I will accept this payment as part settlement of my claim, but do not, however, regard the matter as settled. You have not in your letter indicated how the figure of £495.62 has been arrived at. This figure does not even correspond to the total of the charges I am claiming from you, not to mention the interest I am asking for. I am still expecting you to repay the remaining £255.61 of my original claim (£751.23). I am also expecting you to comply with the timetable I laid out in my original letter for settlement of this claim. If I do not receive an acceptable settlement of the claim by Monday 29th January (allowing for Bank Holidays etc. since I originally wrote to you on 23rd December), I will have no option other than to initiate proceedings in the Small Claims Court, to recover this amount which I believe I am due. Yours sincerely," Thanks again for your advice people, Bolivar
  14. bolivar

    Bolivar vs MBNA

    Hi folks, I'm just about to post off preliminary letters to 3 different MBNA cards I have held. These are among a total of about 20 claims I will be making to different banks and credit cards, mostly for quite small amounts, but adding up to quite a lot. I've previously asked for advice about whether or not to claim for interest at this stage, and how much, but have received conflicting advice. I've decided to go the whole hog, and claim for interest at the rate originally charged by each card, from the date the charges were made until today (even though some of the accounts were actually closed down some time ago). Any views on this? The cards and amounts are: MBNA Mastercard: £220 charges + £173.50 interest = £393.50 MBNA Visa: £181 charges + £153.56 interest = £334.56 Alliance and Leicester: £92 charges + £64.13 interest = £156.13 Any thoughts or advice gratefully received, Thanks also for all the great contributions to this site, really helpful to newcomers like me. Happy New Year, Bolivar
  15. Hi all, Glad to see so many people getting onto this. I've got a total of about 17 lots of charges to claim back from different banks and cards - some of them for pretty small amounts, but they add up to quite a bit. Started off with the Coop, and now going on to my RBS current account - have just sent a letter off claiming back £350 charges, and I'm also including interest at 19.05%, the authorised overdraft rate, totalling £265.86. I was very unsure whether to include interest, and if so, how much, but having spent may hours perusing the website, decided in the end to go for it. Anyone else have experience of this? Will post again as things develop. Merry Christmas, Bolivar
  16. Right, I've gone ahead and posted off my preliminary letter yesterday, total charges £560, and in the end I decided to go for interest too, £192.50, at the Coop's authorised overdraft rate (13.9%). I'll keep you posted about what transpires. Has anybody had any result in terms of claiming interest as well as the charges at this stage of the proceedings? Incidentally, my wife was on the phone to the Coop yesterday, and the nice lady at the call centre advised her ("personally, I'm not allowed to advised you on behalf of the bank") that we should submit our claim as soon as possible, as it may be that the banks are imminently going to come up with some formula where they only have to pay back part of the charges, not the whole amount. Does anybody know anything about this? Happy Christmas to all, Bolivar
  17. No, I used the authorised overdraft rate, as most of the time my overdraft was within my limit. Is that right?
  18. I've actually just calculated the amount of interest that they would owe (simple interest, not compound) if I was to claim at the authorised overdraft rate (13.9%), and it works out at £191, which seems quite a significant amount, so I am inclined to claim this if there is any way of doing it that won't jeopardise my claim if it ever gets to court. Any more thoughts about this? Thanks
  19. Hi all, I have about 20 different claims to put in to different banks and cards, and amabout to start off with my first preliminary letter, to the Coop. I'm claiming a total of about £500 in charges, but I am very confused about what I should be doing about the interest on these. I've spent a long time looking at the various sections in the forum, and have put in posts previously, but have got conflicting advice. Can anyone tell me whether I should be claiming any interest at this stage of the process, and if so, how much - unauthorised o/d rate, authorised rate, or statutory rate. I've also tried to work it out on Vampiress' Complex Bank Charges spreadsheet, but I can't for the life of me work out how to use it, so I'm giving up on that. Thanks people, Bolivar
  20. Thanks Scott and Rooster, Very helpful comments. If possible, I would like to claim the interest at this stage - it does actually mount up to quite a lot, as most of the charges that I have incurred were between 4 and 6 years ago. If I do decide to go ahead and claim the overdraft interest from by bank accounts at this stage, am I right in thinking that I do need to use the complex bank charges spreadsheet, rather than the simple one. Is there any further guidance anywhere about using this spreadsheet, other than the notes contained in the spreadsheet itself? As far as credit card charges go, this seems to me a simpler matter - I guess I could just claim interest at whatever the going rate on the card was, for the period up to today, or up to the point where the balance was paid off. Is that right? One other thing - if I do claim overdraft/credit card interest now, and if it does eventually go to court, do I then claim the 8% judicial interest on top of the the overdraft/credit card interest charges, or would it be instead of? I hope it's clear what I'm asking, it does all seem very complicated. Thanks again, Bolivar.
  21. I'm a new member, and about to start making claims in repect of multiple bank account and credit cards (about 10 in all). I've spent a lot of time looking at all the very helpful material on the site, and am ready to start making my claims, but I am still a bit confused about whether I should be asking for interest at this stage, and how much. I've tried using the Complex Bank Charges spreadsheet, but to be honest, I don't understand it or how to use it. I've entered all my charges on the simple spreadsheet, but I'm not clear whether I should be entering any interest at this stage of the claim. I understand that I can claim the 8% statutory interest if it gets as far as small claims court proceedings, but I am hoping it will not get that far. Should I be claiming no interest at all at this stage, or 8%, or the overdraft rate (for bank accounts) or interest rate (for credit cards) - and can I just use the simple bank charges spreadsheet for this. It's great to see so many people having success with this - you are all obviously just a bit brighter than me. Thanks
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