Contractual Interest & Default: I want 19.9%, they're offering 8%!

[Missy06]

Hi. I've been following this thread but it appears it gone a little quiet!

 

History of my claim:cool::

 

15/10/07 - issued claim in court for 100.00 charges, 31.68 interest charged, contractual interest of 80.43 (@ 19.9%) and court fee of 30.00 as well as the removal of a default from my credit file. Total claim is for 242.11. The Date of service was 20/10/07. They have till 20/11/07 to file an acknowledgement of service.

 

1/11/07 - they sent me a letter saying "All default fees charged to any account are always charged at the purchase interest rate. The total amount of purchase interest we have ever charged to your account since 2002 is 10.30......I am prepared to offer a refund of the default fees in the sum of 100.00, the purchase interest sum of 10.30 and 23.34 which is 8% you are entitled to claim under section 69.....This means you've held an account with us without paying interest on any of your purchases.....I'll also refund the court fee of 30.00....." "....I've refunded 163.64 to your account today. I have advised Robinson Way and they will reduce your balance with them...." "....we have also written to the court to confirm that we have paid in full...":x Are they for real?!?

 

1/11/07 - I also received a notice from the court that Crap1 have filed an Acknowledgement of Service. They then had till the 20/11/07 to file a defence.

 

3/11/07 - received a notice from court that a defence has been filed. Had to complete AQ by the 19/11/07.

 

9/11/07 - dropped completed AQ with directions at court. I believe they have 14 days to file their AQ.

 

21/11/07 - Crap1 sent me a copy their AQ.

 

Today - I intend to write them and the court that the claim is not settled as said in Crap1's AQ. They've paid everything but haven't paid my contractual interest!...just 8% statutory.

 

Am I on the right track? I really don't mind going to court as I also want the default on my account removed.....that's another story for another day!

[Fully_charged]

I intend to write them and the court that the claim is not settled as said in Crap1's AQ. They've paid everything but haven't paid my contractual interest!...just 8% statutory.

 

Most importantly they havent said/done anything about the default on your credit file. My case is due for a hearing soon, the amount claimed is negligible but my focus is on the default.

 

If i were you i would tell the court they havent settled, also confirm with robinson that they have put the money in. With my previous case they said they would but didnt.

 

play carefully with Cap One(absolute to55ers)...

 

F_C

[ukaviator]

Hi

 

Most claims for Contractual Interest are paid out on the purchase rate of interest. A few have had Purchase rate and 8%. To get the default removed, you need to keep your claim whole. Don't accept the refund without default removal. This need to be a condition of them settling your claim.

[Missy06]

Thanks for the feedback.

 

I've sent a letter to the court saying the claim is not settled and will not accept any settlement w/o the removal of the default. I also faxed a copy of the letter to the Legal Dept of Crap1.

 

Robinson Way confirmed about 1.5 weeks ago that Crap1 have already refunded the 163.64. Do I have to ask them to refund this to Crap1?

 

The balance on the account with Robinson Way is now 105.00 (less the 163.64 paid by Crap1) and last week I said I might clear the balance with payments of 35.00 over the next 3 months. RW have since written to me that they can agree to the 35.00 over 3 months with the 1st payment due Dec 1. What do I do?

[ukaviator]

No. I would just inform them that the refund is just a partial settlement to your claim. Just make the payments as agreed to get them off your back.

[Missy06]

Hmmm! There are parts of this forum highly suggesting that one shouldn't accept partial payments where contractual interest in concerned...

[ukaviator]

Her is a link with some guidance and letters to use.

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/25716-rejecting-offers.html

 

Some people send back the cheque, or if it's paid into their account, ask for it to be removed. If you accept the refund as part payment, it shows the court that you are reasonable. Quite a few people here have kept the refund as part payment towards there claim, as they have been in desparate need for the money. It is in the end your choice.

[Missy06]

Thanks for the feedback. I've decided to keep the partial payment. I'm just awaiting a court date now. I'll make the 1st payment of 35.00 to Bryan Carter and hopefully when I get my contractual interest of 85.00 from Crap1, it'll clear the remaining balance.

 

When all this over I'll be claiming for wasted costs as well!.......especially on the default side of things. I've spent so much time on this it's unreal!!