george mcm vs Clydesdale bank

[Piggy bank]

Is up to you George. In my opinion, there is very little point. There is a very small chance that they initially send you a settlement offer if you give them a schedule with the £3k+ charges on it, but any settlement offer like that is unlikely to be for the full amount anyway.

 

Their current strategy is to leave it until the last minute to settle for the full amount. During my recent small claim, I received 2 offers before the hearing date: first offering the amount without interest, and then an offer including the interest but without the costs. They only forked out the full amount including cost until after the prelim hearing.

 

Any settlement offers were related to the court case and the court case number. Sending all the charges in the hope they will pay out the full shilling might be worth a long shot, but you are unlikely to see your full amount without court involvement.

 

I would be quite happy to be proven wrong though - it would save you a few trips to court:)

[Piggy bank]

About the contractual interest, I wouldn't worry about that. I included 8% contractual interest in my claim, and got the full amount. I didn't word it like it was contractual interest as such, but just that I claimed 8% interest on the charges. My next claim will likely be a more realistically interest percentage, like 10%.

 

Just claim it the way you want to. The bank doesn't go to court to clarify the matter of contractual interest, because it would mean that the bank would have to actually defend itself during a proof hearing. Y will end up getting the money anyway.

[caro]

8% is the statutory interest rate normally awarded by the court, but contractual interest is the rate that the bank would charge you, not just a random figure that you think is fair. There are quite a few threads about contractual interest if you are interested Piggy Bank.

[Piggy bank]

I know the difference between statutory and contractual interest Caro. In my first claim I just claimed 8% without stating that this would not be the usual statutory interest, so that it would be less noticeable that I actually claimed this as well, regardless of what interest the sheriff would be awarding me

 

Like I said, I will be claiming the contractual rate charged to me by the bank, which is in effect inbetween 10 and 25% - it's just kinda tricky to calculate precisely.

 

Either way, if the bank has any issues with how these rates has been calculated in the claim, as far as I'm concerned they can state so during the hearing, and provide the breakdown of the actual percentages charged by themselves.

 

Thx

[caro]

Fair enough Piggy, although that wasn't clear to me from your earlier post. I personally did not distinguish between a claim for 8% interest and S69 interest which is currently 8%. If you're planning on claiming contractual interest I would have thought that the current rates published on the banks website would be appropriate, because as you say it would be difficult to calculate otherwise. Obviously you must do what is right for you.

 

Sorry for the hijack George.

[Bigmac versus]

Thanks Caro and piggy bank, thats whats great about this site, everyones opinions helps make your decision easier, SOMETIMES,lol. I get what you were saying Piggy bank caimed 8% interest (contractual) just hid the contractual bit within the POC so as they think its the sec.69 interest and pay up, very cunning move that one lol, just a thought surely they would have a schedule of charges from you and see the amount of interest on that. Will wait for a responce from bank as not due up till end jan anyway.

 

 

What i done with my claim was include contractual interest at 29.25% as i have letters from them saying they were charging me that but applied it to the most recent charges i had, (last year) making the interest look a little less, then if they pay hit them with the first charges on the account which has the highest amount of interest on them, in for the long haul so lets see what they do. Will prob send them an updated schedule dated for that day of court and advising them if they pay early they will save some dosh, AND let me start claim no2 quicker,lol. Thanks again for advise.

[Piggy bank]

George. My schedule of charges did include the interest on it, but it didn't actually specifically state the interest rate used... Very cunning;)

 

I think there is nothing wrong with your approach regarding the contractual interest. The clydesdale for example has, as far as I can see, charged me interest rates between 10% (authorised overdraft rate) and 25ish% (for unauthoriased overdrafts), so if these are the rates quoted by the bank, you are fully within your rights.

 

Like I said, I doubt that this is a point they want to argue in court anyway, because the only way they can actually argue this would be in a proof hearing, where they would also have to argue they main point of the (un)lawfulness of their charges.

 

I hope your strategy pays off in terms of speeding up the process. Either way, you will get your money. I just doubt that, due to the processes that seem in place at the banks, they exercise this much judgment in individual cases. They pretty much seem to process them in the same standard manner.

 

Fingers crossed though, and if you need a hand for court (I forgot where in scotland you were) feel free to give me a shout.

[Bigmac versus]

Thx Piggy bank feel at a loss now, lol, all this time to pass before court, maybe i will go pester the halifax for now, to be honest probably go and get my court bundle ready early so i can be well prepaired for them, makes you wonder though how the banks can spin it out for so long yet when we owe them we have 3 days to pay or you are hit with another charge.

[Piggy bank]

Yep, it's a big black hole after all the correspondence. It's now just a long wait for your money to arrive

 

Just make sure you don't forget when the return date and prelim hearing dates are!

[Bigmac versus]

All is well as ive now got a fight with Halifax as they will pay charges for last six years but not any longer back as they have written "Legislation states that you are only entitled to re-claim charges you have incurred over the last six years" however they have invited me to phone them and discuss the matter, mmmmmmm.

 

Total charges from 7 and a half years till now £1700

offer of £434 which is the last 6 years

cant get why they want me to phone them, suppose theres only one way to find out.

[Bigmac versus]

Piggy bank that would be just the thing after all the hard work to fall at the final hurdles eh.

[caro]

I see that YB paid Mollyhannah back over 6 years without too much trouble, although she accepted it without interest.

[shauna63]

Hi George, Im new to the forum, I have read through your posts and this has given me some insight on the Clydesdale bank.

I too have received the initial letter from them Quoting "they dont have to provide proof of manual intervention under the DPA but will provide all statements required".

I wish you all the best and will watch forum for your progress.

[Bigmac versus]

Hi Shauna and good luck to you, be patient, read up, follow the proven routes and you will get there in the end. got a settlement offer today including the contractual interest at 29.25% but not the court costs, how their minds work puzzles me. £39 court costs arent much in relation to the claim but its the principle aint it?

[Piggy bank]

That's a first result george! I take it this was just for the money claimed in the case and not the full amount of the £3k+?

 

They offered the same to me as well: claim plus interest but without the costs. I rejected the offer, after which I was offered the full amount including costs, following the prelim hearing. Up to you whether you want to leave it at that really.

[caro]

Good offer George but I don't understand how their minds work either. They'll pay my court costs but not the interest. Although that is Yorkshire, not strictly Clydesdale, but Clydesdale legal bods. You can never predict what they'll do.

 

And yes George it is the principle. I understand why people are settling for less than full claims, but it doesn't help the rest of us who hold out, and those claiming in the future. I find it quite frustrating.

[Bigmac versus]

Yes Piggy bank it was for that claim only, but if they pay once would they have to pay the rest of my claim the same, with cont int, just a thought. Yes Caro it only gives them the encouragement to continue down this road, the thing is if no one accepted without costs they would never offer it, thats never going to happen. But as Piggy bank already said you could wait till after the prelim hearing and if you have multiple claims it could take a hell of a time to get it all back. Deep thoughts required here due to the contractual interest being included in my offer, think i will accept the first one without the costs so as i have a settlement with the contractual interest for future claims, hate losing the £39 but will after settling this one settle for no less than the full claim plus costs.

[caro]

For 39.00 when you are getting contractual interest I think that's reasonable. I was forgetting the costs are lower but the interest rate more than makes up for it. How many times are you going to have to do this George?

[Bigmac versus]

if get contractual prob 9, without 5,6.

Cheer me up why dont you! lol.

[caro]

Only another 5 years and you've cracked it then! PMSL

But hold on, by then it will be so much more interest it will probably be another 5 years.

[Bigmac versus]

I know pmsl always said this looked like a good retirement fund even though ive got 30 yrs to go, was wondering IF u sent another prelim and lba to them would they have the cheek to reply in the same manner as they did the first time knowing that you have already had a settlement.

[caro]

I'm sure they would. I think Robertxc has said you don't need to send another prelim, just an LBA. Presumably it's because you already told them the total amount you will be claiming so can go straight to LBA. That saves a bit of time.

[Bigmac versus]

Thx Caro, have accepted that offer and will wait till actually get it before sending lba again, hope to have 2nd sent before xmas, THIS YEAR,lol.

[Bigmac versus]

UNBELIEVABLE, this shower are so incompetant, today i received a letter from them and inside it was someone elses BANKBOOK with sort code, name, account no, etc etc and £34 thousand pounds, IDENTITY THEFT is on the increase and this mob dont help, phoned them at 11am they took my number and said they would phone back, at 3pm i phoned the scottish Sun who took the details and phoned them for any comments, after that converstaion the Clydesdale Bank did phone me and asked if i could send it to them via mail. Shocking the actions that this bank take.

[Bigmac versus]

Quick update will be in next weeks Sun newspaper, Clydesdale bank will not like it, lol, see if i can get The Consumer Action Group mentioned in the report.