Sparkler V Barclays

[Nightstar]

no difference one's more detailed than the other.

correcto on the interest column delete until you file a claim. good luck.

[bram stoker]

Hi,

 

The advanced spreadsheet aims to divide the interest between what was applied to charges and what was applied to actual overdraft. This means you can claim the portion of interest that relates to your charges.

 

The statutory 8% interest and the contractual interest that you can claim ontop of the above are extra, and it's either statutory or contractual.

 

Never state before claiming in court, the statutory interest. You can request all other interest claimable from your very first letter.

 

Hope that helps.

Vamp.

[pauldean]

:idea: :idea: :idea: So how do i find out what the % rate was for the interest charged to my account overdraft? i understand about the 8% thing and that can only be claimed later but i am about to send the first letter request out. thanks deano.

Hi,

 

The advanced spreadsheet aims to divide the interest between what was applied to charges and what was applied to actual overdraft. This means you can claim the portion of interest that relates to your charges.

 

The statutory 8% interest and the contractual interest that you can claim ontop of the above are extra, and it's either statutory or contractual.

 

Never state before claiming in court, the statutory interest. You can request all other interest claimable from your very first letter.

 

Hope that helps.

Vamp.

[bram stoker]

If you are looking to claim contractual interest rate, you will need to look up their interest rates on your bank's website.

[Longleigh10]

Hi Vampiress,

I'm confused. when I sent off my schedule of charges I included the 'interest' figures that were on the statements that were debited from my account; regardless of whether it was overdraft or charge, as I see it as an unlawful fee and part of the above. Was that correct?

[sparkler]

Hi...sorry but what is contractual interest?

 

thanks for your replies guys

[sparkler]

Hi Peeps,

 

OK i will try and keep this short and sweet. I don;t understand the interest. When people refer to claiming back the interest is it the interest on the money that Barclays have bene holding?. Vampiress (think thats her name) mentioned something about contractual interest aswell?, what is this what is the difference?, what do most people claim for?, i really want to send my letter to claim back my cash but i can't until i understand this part

 

Please help - PLEEEEEEEEEEEEEEEEASE

 

Thanks so much

 

The not so bright Sparkler

[chindley]

Hi Sparkler, You can only claim the interest back when you fill in your Court Action form. This is 8% from the date each charge was taken. There is a form that will work it out for you when you get to that stage that is easy to fill in. But until you get to the court stage you do not need to worry about interest just what they owe you .

[rdm2006]

The 8% is what you are allowed under section 69 of the county courts act.

The contractual rate is the rate that they charge you for an overdraft some people are saying that if the contract allows the bank to do this then the situation can be reversed I only claimed the 8% just to be sure, but it is personal choice

[Spiceskull]

There is a difference between reclaiming the interest that the bank has taken from you, and claiming the interest that your money would have earned if the bank had not levied it from your account.

 

The former can be totalled from your statements, and usually appears as an interest charge in much the same way as a penalty charge. There are differing ideas about how much of this you reclaim: the bank is entitled to charge interest on money you have borrowed, but not on the charges that should not have been applied. In working out how much to reclaim you need to use common sense, and if you want a more accurate figure you can use the advanced spreadsheet.

 

As for the interest that your money would have earned, this is a straightforward calculation based on the amount of each penalty charge, the time since the charge was applied and the %age you wish to use. As has been explained, you are entitled to 8% under s.69 of the County Courts Act, or you can try for the contractual rate that the bank currently uses.

 

When making your initial request for a refund you should ONLY include the interest that the bank has taken from you - the s.69 8% is NOT included until you raise your claim. However, if you decide to claim the contractual rate, then this IS included in your initial request, and you will NOT be able to claim the 8% when raising your claim.

 

In a nutshell:

Claim all the interest they have taken

Claim for the contractual rate

If you are not claiming the contractual rate, then ONLY apply the 8% when you raise your claim.

[sparkler]

Thanks so much guys!

 

I understand now...

 

i shall crack on!

 

[sparkler]

im about to send my preliminary approach letter off to the offending bank but thought there used to be a sticky at the top of this page with the addresses on?. wheres it gone?, am i losing it?...

 

please help a lost one ...

 

thanks lots

 

[argyle]

Hi Sparkler.

 

Sent my prelim to the following address as instructed by Barclays.

 

Got a 50% offer today so it must be a good address.

 

Barclays Bank PLC

Leicester

LE87 2BB

 

Go for it.

Argyle.

[sparkler]

Top stuff

 

im gonna nail their a**es

 

thanks Argyle!!!

 

good luck with you claim

[sparkler]

Hello there...

 

I sent my prelim letter on 6th september giving barclays 14 days to comply so they had until 21st give or take a couple of days but i have recieved a letter from them this morning with the usual "we're sorry you're unhappy blah blah blah" nice little leaflet in there and said we will get back to you soon, but no later than 5th october....

 

 

WTF?

 

this has really annoyed me, i have given them 14 days not 30. what do i do now?....im ready for action!!!

 

please help me nail their butts!

 

[Holteender]

Best bet is to read the Step By Step Instructions thread.

[Welshman]

On the 21st, send them the LBA - you will find the template letter in this site's library. Work to your timescale. Read the FAQ's and Step by Step section for guidance.

[sparkler]

Hi there,

 

I sent off the prelim letter to barclays on the 6th september with my schedule of charges attached. Im about to send the LBA (wednesday) but i have just discovered that since sending the prelim i have been charded a further £100.

 

hmmm how do i do this?, do i just add this on to my schedule of charges when i resend them with the LBA?, or do i have to leave it now?...i want it back obviously but dont wanna mess up my claim

 

thanks very much, im pretty stuck with what to do

 

[Welshman]

Yes, you can change the amounts you are claiming back up 'til filing your claim. Add the charges to the end of your schedule.

[sparkler]

Thanks Welshman, do i need to mention this in my letter or shall i just change the amount and go from there...

 

thanks again

[Welshman]

No, just add it to the list, that should be fine.

[sparkler]

Hi there just a quick update and also in need of some rough guidance...

 

I have sent both the prelim letter and the LBA and today i've been offered a third of what im claiming for - are they having a f'king laugh?...i think they are, im coming to get you barclays poxy bank.

 

One problem though since sending off my schedule of charges we have since been charged a further £65 (i know i know we tried to not go over drawn but we messed up ) is there any way i can add this on to my claim?...

 

i know my next step is to fill out the court form on the money claim website but i have already added an extra charge when i sent my LBA. will i risk screwing things up if i add a further charge?...

 

god i hope this makes sense...

 

cheers everyone

jane

[essjaysea]

Just add the extra £65 to your claim when you issue proceedings with Moneyclaim. Good luck

[Fullyskinted]

Hi Sparkler

 

Seems I'm up to the same stage as you (although I went through all mine with a nice yellow highlighter)

I am going to crack on with the spreadsheet today.

Which address are you sending your letter to?

 

Thanks

Lippy

 

Same here.

 

Need the address:rolleyes:

[essjaysea]

Freepost RLTA-CSUE-TCHC

Barclays Bank plc

Head office Customer Relations

1 Churchill Place

London

E14 5HP