Why is no one claiming the contractual rate of interest???

[TideTurner]

Sn00psmum,

 

You need to make a SAR to both organisations (see my thread for the full version or go to the Library). Any charges made by the Provi or the RBS are also subject to interest which you can reclaim. Get the details of these via the SAR then make your claim. In the interim, tell them the account is in dispute, therefore they cannot charge any further interest, send threatening letters or make any phone calls.

 

I would be particularly interested in any charges made by the Provi. How can they do this - does the interest or term of the loan extend?

 

Tide

[TideTurner]

SM,

 

I have had other replies, and where a payment is missed with the Provi, the length of the loan is extended and therefore the amount of interest increases. My Mother used these years ago hence my interest, and the fact that they are doorstep and deal with the vulnerable eg. bereavement - get a Provi for the funeral etc.

 

Regarding RBS, you would need to show that they have put you in a difficult position, and as a result of the position you were in, you incurred a loss.

 

If you were bombarded by charges, and as a result had to take out a loan on the doorstep (as your credit record was damaged) at an extortionate amount of interest as the Provi charge, then this must be considered to be a loss.

 

Can you calculate this loss?

 

Tide

[TideTurner]

SM, still here, just considering

[TideTurner]

Hi again:)

 

I know exactly how much interest I have been charged by the Provi over the years as it's all here in b&w in my book, it's the figure in my first post above. And you're right, they do prey on the vulnerable & desperate.

 

Where the interest is extortionate, this could be considered as damage as you would not have incurred these costs/interest/charges if the RBS had not put you in that position. Or did the Provi put you in it? Nevertheless, it is still a damage

 

As for RBS, they know exactly what position they have put us in, they have systematically pushed us further and further into debt (along with many others) in order to enrich themselves.

 

They probably don't know your position, you will simply be a number / account and the application of any charges are automatic.

 

We have pointed this out to them on a number of occasions to no avail. They have bounced countless DDs & SOs (including some for their own products- can they do this?)causing default on a few of them including vehicle, life & home insurance.

 

No they can't. These are as unlawful as any other charges they have made, and simply show they have been taking the proverbial.

 

We now have a claim on our home insurance from a neighbour whose house has been damaged due to a leak from our boiler. It's been found in their favour to the tune of over £1100 and we don't know where we stand with it as due to the bank we may not have been covered!!

 

Where you have house insurance, this must cover next door - what about fire? Are they saying you have been negligent?

 

We are paying a ludicrous rate of interest on our mortgage as due to our crappy credit score (thanks RBS!)

 

This is damage - see Zoot's posts

 

we are considered high risk. We have temporarily withdrawn our claim for a refund of charges from RBS as I had initially miscalculated the amount. I stated in a letter to them that I would submit a new claim once the necessary amendments had been made.

 

They took this opportunity to sell our debt with them onto Moorcroft Debt Recovery within a couple of days. We now have 7 days to repay the entire debt even though they know very well that the account remains in dispute. This is the fastest reaction I have ever seen from them!! They have all but killed our small business by not understanding basic cashflow issues with small businesses. Sorry to go on but I don't think they realise that the effect of these charges creeps into every aspect of peoples' lives

 

You now need to go at them big style for a copy of your contract(s). Banks are starting to try and offload 'problem' accounts (those where the initial contract terms were incorrect). Where these terms were incorrect, it is highly likely that there is no clause which enables them to forward your personal information to any third party, including DCA's. The DCA's therefore have no right to store, process or communicate your personal information, and are not a party to the original contract.

Don't feel better - get even.

 

Tide

[TideTurner]

Thanks Tanzarelli.

Any idea on item 2 anyone?

 

You should go for contractual, as it is harder to add to your claim than reduce it, and you are entitled to it as it has likely been charged to your account.

[TideTurner]

Photoman,

 

I agree whole heartedly, but I'm concerned about the complexity. Certainly spreadsheets are the way forward, where you can input details of your entire financial position (as long as you have your history) and the SS works out your entire damage.

 

The damage can be proven if you can show that you were forced to take an action which caused a loss as a result of something the defendant said or did.

 

Tide

[TideTurner]

Photoman,

 

I agree,

 

But can you confirm if you have ever taken any photos?

 

BigFatGreedyBanker is innocent until proven otherwise.

 

BFGB - have you? Or is it all in a name?

 

Tide

[TideTurner]

Traffic Warden?

[TideTurner]

BFGB, no offence meant, but you may have a problem on the site if you don''t change your name.

[TideTurner]

See what you've done you BFGB!! Now we've all lost our signatures.

 

Have you tried box 11? Only the independent adjudicator knows what's in there.

 

Tide

[TideTurner]

BFGB, apologies and welcome, a little gentle humour to break up the serious task at hand

[TideTurner]

Anybody looking at ITV now? Shared Appreciation Mortgages - CCA 1974 agreements

[TideTurner]

From recent quotes: -

 

Professor Austin Scott, who for many years was the leading American scholar in the field of trust law, wrote in 1949

‘Indeed, trust can be regarded as a “precontractual” element in all social arrangements’.

Indeed, trust has been in all contractual elements where a person or persons have been led to believe that what they were signing up for is true.

It has often been said by the courts that the fiduciary duty of loyalty is based upon the biblical precept that no person can serve two masters

Why then, do Board members or contractors serve several masters?

 

My original statements were provided in dollars, which shows an immediate concealement. Where any information was transferred outside of the EC without your knowledge is unlawful under the DPA 1998.

 

Tide

[TideTurner]

Gents,

 

Can we focus on English Law and get back to the subject. This is extremely interesting but perhaps needs its own thread.

 

I am itching to make points about info being processed outside of the EC which I believe has been happening since the late eighties. I have evidence to this effect, but we're not helping others if we don't keep it readable.

 

PS What's the thread?

 

Tide

 

PPS Tell me to FAQQ off if necessary

[TideTurner]

un1boy,

 

Who needs to be scared? You, or them?

 

Tide

[TideTurner]

OK, so you go in high and get shot down. This interest has been charged against your account, and they have enjoyed it, and in contract law, all actions have an equal and opposite reaction.

[TideTurner]

Good lord.. talk about a complicated matter! How about this:

 

1) The bank, having taken your money by way of debiting penalty charges and charging interest on those, has unjustly enriched itself.

2) You are entitled, on the basis that they did this, to demand restitution.

3) The easiest way of quantifying the value of that unjust enrichment, and thus your restitution, is to determine the Bank's net profit margin (available from their annual publicly-filed accounts) and use that as the basis for calculating what rate you should claim.

 

ie. if NatWest's net profit margin for 2006 was 30%, you can quite reasonably justify claiming 30% per annum back for that year (pro rata on a monthly basis) on whatever debits they have made from your account unlawfully.

 

It must be beyond question that the Bank have achieved a total return, net of their costs and operating expenses, of their stated net profit margin for any given year. Its in their filed annual accounts. Thus you can unequivocally say that this represents the precise and exact rate at which you can without question state the degree they have benefited from your money.

 

Bugger using the contractual rate of their overdraft facility, authorised or otherwise. Hit them with their own net profit margin - they can't possibly argue with that!

 

Thoughts?

 

Jalex,

 

You will find that every contract is treated on its own merits. Where interest has been charged, an equal reaction will be allowed. This will not apply to the general profit margin as some clients will have contributed a greater percentage than others, and each contract is seperate.

 

Why are you not insisting on the 'actual' rate of interest applied?

 

Tide

[TideTurner]

Jalex,

 

I can't see a Court in the land agreeing to this.

 

I could however, see them agreeing to a claim based on today's rate if they are not forthcoming. Can you calculate off that rate?

 

Tide

[TideTurner]

Woodentop,

 

You need to do a proper SAR, then look in the library for the interest calculator. Input all charges and analyse the interest.

 

No charges were added to account when frozen!!

 

Get a full breakdown of your account, dates, amounts, full description etc.

 

Then question each and every charge and try to get a description of each.

 

It doesn't matter if charges were made when the account was frozen or not.

 

You need details of all info they hold on you.

 

Tide

[TideTurner]

hi could someone please help. Im really confused . If anyone has a spare minute would you please check this over for me and see if ive done it SCHEDULE OF CLAIM FOR CHARGESTOTAL INTEREST: £178.89FROM:24 December 2004TOTAL INC. INTEREST: £814.11TO:11 May 2007DAILY RATE (FOR CLAIM FORM): £0.43TOTALS: £607.00£169.75£776.75£28.21£9.14£37.36DATE OF CHARGEPENALTY AMOUNTCOMPOUND INTERESTCOMBINED CHARGE & INTERESTDATE OF INTERESTINTEREST PAID ON PENALTIESCOMPOUND INTEREST ON INTERESTCOMBINED INTEREST & C. INTEREST124/12/2004£20.00£15.91£35.9100/01/1900£0.00£0.00£0.00222/09/2005£32.00£15.83£47.8300/01/1900£0.00£0.00£0.00322/11/2005£30.00£13.03£43.0300/01/1900£0.00£0.00£0.00422/11/2005£35.00£15.20£50.2000/01/1900£0.00£0.00£0.00522/11/2005£35.00£15.20£50.2000/01/1900£0.00£0.00£0.00622/12/2005£20.00£8.11£28.1100/01/1900£0.00£0.00£0.00722/12/2005£30.00£12.17£42.1700/01/1900£0.00£0.00£0.00822/12/2005£35.00£14.20£49.2000/01/1900£0.00£0.00£0.00922/01/2006£35.00£13.18£48.1800/01/1900£0.00£0.00£0.001022/02/2006£35.00£12.18£47.1800/01/1900£0.00£0.00£0.001123/09/2006£20.00£3.35£23.3522/02/2005£0.20£0.14£0.341223/09/2006£30.00£5.03£35.0324/03/2005£0.16£0.11£0.271322/10/2006£35.00£5.08£40.0824/03/2005£0.21£0.15£0.361422/12/2006£20.00£1.98£21.9822/05/2005£0.00£0.00£0.00

 

Overflow,

 

It's incredible that when you take the above figures and replace them with their binary compliment, change the font to wingdings and font size 8, the figures appear to resemble the stolen Madonna with the big mahoogees.

 

What the frick? 10 out of 10 for the best post tonight. You need to forward your completed file for someone to look over, but don't copy and paste.

 

Tide

[TideTurner]

Overflow,

 

Got cross replies here, how are you doing this? If you are concerned, get it right first, don't just send it.

 

Tide

[TideTurner]

Which is exactly why they are shying away from Court, and claiming their rates / methods of calculation are 'Commercially Sensitive'.

 

Tide