Fully Paid Up And Settled...

[razor25]

Hello. Sorry if this is somewhere else (I have been looking all morning!) but I would like to clarify the 'NatWest situation'.

 

- Is NatWest the type of bank to usually make you at least get to the filling in the court form stage?

 

- at what stage do most of you NatWest guys get your money back?

 

Many thanks.

[katesage]

Hi Razor

 

You need to keep reading.................!

But as your a newbie your quite within your rights to be a bit dazed and confused!!

Yes, Natwest like to fight back but they always lose. Look at the 'survey results'

and look at the survey categorys on 'survey' Totally different page?! to see the average stages at which the banks returned their ill gotten spoils!

There are no hard and fast rules each case is different but they will try to scare you off.

I've sent my DPAs of recorded delivery last week and the post office say they havnt recived them yet. first class???

Keep reading the FAQs and all the threads particularly the NW forum to get a feel.

Just so you know where to start, read Mountainof Debts 'have I opened a can of worms' she got back over 2k on saturday also rbrears thread, he got back 4.5k last week.

Any q's or worries, post them here on your personal thread, which as the weeks pass will act as a sort of diary, you'll get loads of support and advice along the way.

 

kate:)

[razor25]

Hi - many thanks for the reply.

 

Just wondered what DPAs are? I have tried to follow most of the steps. Found out the amount im owed, asked for it back (twice), letter before action etc and am now at the moneyclaim stage. just wondered whether natwest really take people to court i guess!

 

And when you fill in the moneyclaim site, what address do you put for natwest? i am assuming its the bishopsgate london address at the bottom of the correspondence....

 

Sorry!

[katesage]

dont worry

you are way beyond the stage of dpa's. Data Protection Act subject access request letters are sent right at the start if you have lost some or all of your statements. it's a way of getting your data held by the bank about you.

 

sounds like u kept your statements and know what they owe you.

 

have u used Vamp's excel speadsheet to calculate your 8% apr as its going to moneyclaim? if not u need it. it's in Bank Action Group templates (green coloured) Click Consumer Action Group (top of page in blue) scroll down to the green bank templates section and have a look. V Imp part of site!!

 

Kate:)

[Michael Browne]

Although nothing's impossible, it's very unlikely for the bank to turn up to court. They will have settled before then.

 

Yes, the HO address

[razor25]

brill. thanks very much.

[razor25]

hi. as i said im knew so no laughing if this is a stupid question (because I belive the original article never made this clear)...

 

is it just the charges for returned cheques and unauthorised borrowing that we can claim back or can we claim back the interest on these overdrafts, which seems to be a good £20 a month?

 

thanks.

[katesage]

Hi Razor

 

you can claim back the unauthorised overdraft interest but it is quite tricky to differentiate normal interest and unauthorised. it can really mount up though so if you're feeling mathematical, have a go.

Don't forget if this winds up at the MoneyClaim stage you also add 8% apr on top. There are spreadsheets for this in Bank Templates (green)

Do some reading up on interest from other peoples threads to get more details on how to calculate.

good luck

kate:)

[mahala]

the interest you can claim back from your overdraft is only the proportion of interest incurred by those charges though, and at the rates that applied at the time the interest was cahrged.

 

You would need to know what the interest rate was at each point from the time the charged was levied, and how much of the your overdraft interest was due to charges and how much was due to being overdrawn without their help!

 

It can mount up in some cases, but I think most people would drive themselves mad trying to work it out.

[Fred_Funk]

mahala, katesage, razor25 et al,

 

Am I missing something here?! Working out the interest you've incurred as a result of the bank's unlawful charges is pretty straight-forward assuming: (1) You've got all your statements to hand; and (2) You use Vampiress' spreadsheet(which you'll find in the bank templates section).

 

This being the case, you merely need to key in the figures and the spreadsheet does all the work for you by calculating what proportion of any interest you were charged was attributable to unlawfully levied charges.

 

My charges added up to more than 4k and, using the spreadsheet, I was able to calculate that I'd incurred another £600 in interest as a result of these charges - which, of course, I added to my claim! ;-)

 

Fred_Funk

[katesage]

hi fred

 

the interest you are talking about is the 8% the court allow you to add on for not having had the money in your account.

the interest razor is presumably asking about is the interest rate they charge u for unauthorised overdraft use. ie mine went from 2.3?% to 29.4?%.

thats why its difficult, plus u also have to work out which part of said overdraft is caused by the charges going out. tricky..... i left it off because my brain couldn't cope! correct me if i'm totally wrong anybody!?

k

[Fred_Funk]

Kate,

 

Sorry but you're totally wrong! ;-)

 

The 8% interest added when you get as far as a court claim is another thing altogether.

 

I don't know if you used Vampiress' excellent spreadsheet when you were putting your claim together but if you did it will, as I've said, work out the amount of interest you've incurred as a result of unlawful charges.

 

Take a look at...

 

http://www.bankactiongroup.co.uk/TEMPLATE.xls

 

... if you fill in columns g, h and i then the spreadsheet does all the work for you!

 

Moreover, you're confusing the issue unnecessarily when you start worrying about what rate of interest you might or might not have paid.

 

Let me give you an example; say, in month one you incurr £100 of bank charges. If at the end of month two, you find you're still £100 overdrawn and as a result you've paid £20 in interest then you can ask for that money back as it's entirely down to the unlawful charges. Similarly, if at the end of month two you were £200 overdrawn, only half of which was attributable to unlawful charges, and you paid, say, £30 in interest then you could reclaim 50% of it.

 

Don't worry abouth the maths, the spreadsheet does all the work for you - just as long as you can input your balance at the end of every month and the amount you paid in interest.

 

Hope this makes things a bit clearer?! ;-)

 

Fred_Funk

[katesage]

Hi Fred

Thanks for that! I'm blushing at my ignorance!!

The reason I'm getting thrown is cos although i've incurred alot of charges the interest amounts are usually only about £2 a month.

I've just done the spreadsheet, apart from owt else to get my head around it!!

I've done 2001-2004 thus far and the interest has totalled about £28.00, is this cos i wasnt going way overdrawn (average £150-300 over).

Your total of £600 interest due threw me cos my 8% interest comes to about that (if it gets that far, dont worry i'm not counting it now;-) !)

Hope i've got this right now?

grateful kate x:)

[razor25]

tell me where the thread on the Daily Mail newspaper article is please?

thanks.

[orfoster]

Daily mail article? What was it about?

[eyespy]

http://www.consumeractiongroup.co.uk/forum/general/13653-court-ordered-claim-cancelled.html?highlight=daily+mail

[eyespy]

Elliot v lloyds - the "test case" settled in full by Lloyds

[razor25]

great, thanks for that

[razor25]

Hi. Just wondered what the general theme is regarding NatWest's reaction towards these claims. I have just heard from Moneyclaim that they have just received a response/defence from NatWest (which I will receive soon).

 

Have most people who have reached this stage received a defence and if so, what happens then?

 

(ie does it mean trouble?!)

cheers

[razor25]

natwest have issued a defence, which i should be receiving within a day or two. is this normal and if so, what happens now?

 

thanks.

[Chrissielr]

NatWest have issued a defence, which i should be receiving within a day or two. is this normal and if so, what happens now?

 

thanks.

 

Sorry replied to your reply on my post!

[jubbit]

Hi Razor,

 

This is standard, you'll be getting a letter from their solicitors requesting more info & and an Allocation Questionnaire from the court in the post.

 

It seems they may offer part payment once you respond to their request for more info, you then may have to file your AQ, but they seem to settle after this. (I'm only at the 'received part offer' stage, so hoping I'm right that my big juicy cheque is on it's way!)

 

Good luck and no need to worry, quite a few of us in this boat at the moment!

[grey_lady21]

I didnt even get that far although it was a small amount. They said they were going to defend and then 2 weeks later sent me a cheque.

[razor25]

phew. ok, thanks guys. when you get a mo, could someone point me in the direction of where the advice on the questionaires is please? of course, just let me know if i have to look through the cases.

 

thanks again, very relieved.

[razor25]

despite my worry last week and defence issued by Natwest, I have received a letter this morning saying it is not 'viable' for them to defend the case. so i have won!

 

yipee. many thanks to everyone at the site and to everyone who posted to my questions. i will now donate a little to the site then its off to tesco at lunch for a crate of beer.

 

good luck to the rest....