orfoster vs Natwest

[bwfs2003]

Well done mate.

[orfoster]

Hello all,

 

Im back. Now then!

 

The 2nd account i have with NatWest im claiming back £1200 and the account is £1021 overdrawn so the account is solely made up over charges on an unauthorised borrowing rate, can i have people advise please. I have been reading about people claiming this back at a contractual rate.

 

Unarranged borrowing

 

Current, Current Plus and Advantage Gold2.19% a month (EAR 29.69%) variable

 

So if i go over my overdraft and they charge me their EAR rate 29.69% variable can i then put this in instead of my 8%, what are the risks in doing this?? Im going to be putting in on MCOL by 2moro night but if i see that this other interest rate will work i will look further into this.

 

Help and feedback would be great. Cheers.

[orfoster]

Hello all,

 

Im back. Now then!

 

The 2nd account i have with NatWest im claiming back £1200 and the account is £1021 overdrawn so the account is solely made up over charges on an unauthorised borrowing rate, can i have people advise please. I have been reading about people claiming this back at a contractual rate.

 

Unarranged borrowing

 

Current, Current Plus and Advantage Gold2.19% a month (EAR 29.69%) variable

 

So if i go over my overdraft and they charge me their EAR rate 29.69% variable can i then put this in instead of my 8%, what are the risks in doing this?? Im going to be putting in on MCOL by 2moro night but if i see that this other interest rate will work i will look further into this.

 

Help and feedback would be great. Cheers.

[MARTIN3030]

CONGRATULATIONS.........please fill in the survey >

[Guest NATTIE]

I'm not sure on this one because MCOL state that you can claim 8% once you file

[orfoster]

Ok after alot of reading i have found this to be most helpful. I am now going to go for the charges PLUS the contractual rate. Im not sure on which rate to claim. Is it the unarranged borrowing fee @ 29.69% or is it the normal Typical 18.86% EAR. Im really not sure which it is, anyone?

 

The other question i have is like NWSM has said above, is it possible to do this on money claim or will i need to do this through the courts??

[markgrey]

Can anyone help me with who i should address my pre lim letter to at natwests head office in bishopsgate. I addressed my S.A.R request to the data controller but not sure who to address the pre lim letter to. Any help would be greatly appreciated

[orfoster]

NatWest. It will get to the right people.

[Skell18]

orfoster,

 

With regards to your loan, it is illegal for a person under 18 to obtain credit full stop as you were under 18 it was illegal. I don't know how they have gotten away with selling a loan to someone who was under 18. I would suggest that you persue it, not only to get back any charges but to have it writen off if you are still paying for it and to claim any interest that was charged, BUT!! If you do persue this I would strongly advise you to seek advice from a solicitor, it is not something easily tackled by ones self. IMO it is a clear cut case, you would win, but i would think it would go higher than the small claims court as there is a serious breech of the law.

 

Good luck with any other claims and congrats on your successful one. Let me know how the loan one goes.

 

Adam

[orfoster]

Many thanks for your reply. Yes i will take the matter further, im going to claim back all of my bank charges which i have done 2/3 of it now, i have one account left to do then i will be taking this further if i can. I will seek advise first. I have paid back all of the loan. I actually left college half way through my course to pay it back as they were gonna take me to court. Isn't it funny how they CANNOT "locate" ANY documents relating to a loan account with them yet it clearly shows on my statements "Personal Term Loan" payments. I have no evidence other than the payments into the loan that it existed.

[Skell18]

Do you not have a copy of the agrement? If you take them to court over it they will probably miraculously find the documentation. My natwest account still shows the loan account I had when I had to take out a loan to pay for my legal training, I paid it off last year early, they tried to charge me an early settlement fee but I sad no, and had it refunded

[orfoster]

No i don't have a copy simply because i didn't want people to find it at home. The account can't be seen anywhere on my account history apparently, even if they did find the document what would they be able to do with it? The only thing i have is copies of payments leaving my account, however i don't think this will be enough evidence to take them over this. What do you think??

[Skell18]

This is a tough one!! Well you have payments going out to pay back a loan. If they searched your financial history for the time when you had the loan they would only find that loan (unless you had others?), so put 2 and 2 together, those payments were to pay that loan. My legal opinion, get advice, there is a slim chance you could have them on something. Also there will be a copy of your loan agreement out there somewhere, its a question of finding it. The action could casue the bank to 'magically find it' or it could casue them to panic because they have genuinely lost it (unlikely). This could bring up another issue for the bank, you would be sueing them under a civil case, the outcome of which could then bring about a criminal case against the bank as you were sold a loan when you were under 18 (illegal). Give me a few days to do some research on the matter, see if there have been any similar cases to yours, if i have anymore questions I will let you know. In the meantime seek further legal advice on where you stand, you could be sitting on something major here with the underage loan (i am still struggling to see how they sold a loan to someone who was under 18), sit tight, get more advice and I will look into things for you.

 

Good Luck, im behind you all the way on this one.

[orfoster]

I contacted FSA and Financial Ombudsman, i won't do anything till i claim back my last account with them that is solely made up of charges then i'll do whatever so thats prob a few weeks as i have to send them in a letter telling them i'm claiming contractual interest. Thanks for your help. I've not really got very far looking into it. I have copies of my credit file and there is no search on it. Nothing, thats the only loan i held. They called me up and said how my account was overdrawn 80% of which was due to bank charges and they offered me this loan which i paid off. I take responsibility for my actions now but when i was 16 i was scared of going to court and telling my parents i was in debt so took this loan out without mentioning it. I then left college to pay it off, lucky im now in a rly good job otherwise i would be in trouble, i actually blame them for that! Many thanks for your help. I'll wait to hear from you. Cheers.

[Its WAR]

Great news. Taunton Rocks.

[orfoster]

Ok, heres the plan.

 

2nd October I will be going to the local courts to file my claim against NatWest for an account solely made up of charges.

 

Total amount claimed = £1368.95

Court Costs = £120.00

Total Claimed = £1486.95

Im claiming this at the contractual interest rate @ 29.69% which is NatWests rate for unauthorised overdrafts. My Particulars of the claim are below, if anyone thinks they are wrong please let me know but they have been edited for anyone wanting to do this:

1. The Claimant has an account, Account Number XXXXXXXX Sort Code XXXXXX with the Defendant which was opened on or around 11th November 2005

2. During the period in which the Account has been operating the Defendant debited numerous charges to the Account in respect of purported breaches of contract on the part of the Claimant and also charged interest on the charges once applied. The Claimant understands that the Defendant contends that the charges were debited in accordance with the terms of the contract between itself and the Claimant.

3. A list of the charges applied is attached to these particulars of claim.

4. The Claimant contends that:

a) The charges debited to the Account are punitive in nature; are not a genuine pre-estimate of cost incurred by the Defendant; exceed any alleged actual loss to the Defendant in respect of any breaches of contract on the part of the Claimant; and are not intended to represent or related to any alleged actual loss, but instead unduly enrich the Defendant which exercises the contractual term in respect of such charges with a view to profit. In the event that the charges are not a penalty, then they are unreasonable under the Supply of goods and Services Act 1982 section 15. The defendant has declined to justify the charges, dispite repeated requests to do so.

b) The contractual provision that permits the Defendant to levy such charges is unenforceable by virtue of the Unfair Contract Terms in Consumer Contracts Regulations (1999), the Unfair Contract Terms Act 1977 and the common law.

5. Accordingly the Claimant claims:

a) the return of the amounts debited in respect of charges in the sum of £1149.51 and any interest charged thereon;

b) Court costs;

c) the Claimant claims interest at the contractual rate of 29.69% per annum, from the date of each transaction to 3rd October 2006, which is £217.44, as set out in the attached list of charges. The Claimant further claims interest, on the resulting total of £1366.95, at the same rate up to the date of judgement or earlier payment, at a daily rate of £0.93 per day. The Claimant believes this rate to be justified under the principle of mutuality and reciprocity, and is based on the Defendants interest rate that would be applied under the terms of the above mentioned account.

Should the court find that this interest rate is not applicable, then in the alternative the Claimant claims interest pursuant to Section 69 of the County Court Act 1984 at the rate of 8% per annum calculated from the date of each transaction to 3rd October 2006, which is £58.84 and also interest at the same rate until date of judgement or earlier payment at a daily rate of £0.25.

Statement of truth:

I believe that the facts in the particulars of the claim are true.

 

[Its WAR]

Hi ORF,

 

Very similar to a couple of my claims. I got bored with the sect 69 interest. No results yet though. Remember, if the case is defended, Taunton will transfer the claim to Bristol. It will waste a month and you will be invited to a case management hearing. My CMH is next week. Of course I could have settled approx 50% offer which arrived a couple weeks ago. My feeling is maybe soon, someone will get to court.

Regards Haydn (also from Taunton)

[orfoster]

Hey, where are you living now? Ah rite cool well hopefully i will get to court considering all the time i have spent researching what i would use in court. I have like a massive file of things at home. I actually want to go to court so i can bring up other things on why their charges are unfair in my case. I think they will pay up before court but we shall see. Let me know how it goes.

[deanandalexa]

Hi,

 

I'm just starting off a NatWest claim for £1470 of charges on my girlfriend's account and have been reading with interest Mindzai vs Lloyds and taylormandy vs Nationwide, both of which are going for contractural interest.

 

Will be interesting ot see the outcome.

[orfoster]

NatWest have till the 18th to respond to my claim. They haven't done anything yet. I will keep you updated.

[orfoster]

E-mail from Watchdog asking me for my mobile number to discuss my situation with them. They want me to talk over the phone and possibly come in to them. ahhhhh...... cool.

[Skell18]

wow excellent, that would be great exposure and hopefuly get others to take action too. Also it may lead into a big inquirey over the loan to a minor issue.

 

Nice one

[orfoster]

17th October 2006,

 

NatWest filed a acknowledgment with the intentions of defending the claim. Oh dear what a shame. I will await their further resposne so they now have i think till the..............1st November to do anything?

 

On another note, i have had a e-mail from someone at the BBC Watchdog wanting me to give them my contact details about explaining my stories.

[orfoster]

I had a payout of a claim for £134 for charges. I did a boo boo, when they paid up, i clicked on judgment by addmission. I now know not to do that! Whoops, didn't realise that but think i've solved the problem now.

[orfoster]

Right well i have heard nothing from NatWest. So i take it that today as long as i have no post when i get home i can take in my judgment to the local courts and apply for default judgment?? I think i've got my dates right. I hope.

Well today is the 28th day. Is it today or 2moro i can file for judgment?