NatWest Credit Card Charges

[citybloke]

Hi

I put in a claim for credit card late payment charges on my account to be returned to me from NatWest credit cards.

I've had a reply saying they will refund the last 6 years £12 charges + 8% but not the interest that has been accruing as a result of these charges at the credit card interest rate - Can I insist they pay the contractual interest (credit card interest was 19.9%) also?

 

NatWest also state that for the charges over 6 years old, they are not legally obliged to refund these charges - Is this correct?

 

Many thanks

 

Citybloke

[Bazooka Boo]

Have you got that in writing?

 

AFAIK, and I will be corrected if wrong, but there is no time limit of how far back you can reclaim their unfair charges...

[citybloke]

Yes I have it in writing - The exact quote is "We are only legally obliged to refund charges within the last 6 years"

 

What do you reckon on them not wanting to pay back the interest that has accrued?

 

Thanks

 

Have you got that in writing?

 

AFAIK, and I will be corrected if wrong, but there is no time limit of how far back you can reclaim their unfair charges...

[ims21]

Hi

 

You will need to sue to get the contractual interest and charges over six years old. You would use S32(1)© Limitations Act 1980 for the charges over 6 years old.

 

Case Law for this is Kleinwort Benson -v- Lincoln City Council.

 

Have a look in the Barclaycard forum for shelley's recently won thread because, although a different bank, there is a lot of useful information in there as to how to proceed to court.

 

Regards

 

ims

[citybloke]

Hi

 

You will need to sue to get the contractual interest and charges over six years old. You would use S32(1)© Limitations Act 1980 for the charges over 6 years old.

 

Case Law for this is Kleinwort Benson -v- Lincoln City Council.

 

Have a look in the Barclaycard forum for shelley's recently won thread because, although a different bank, there is a lot of useful information in there as to how to proceed to court.

 

Regards

 

ims

 

Cheers ims

What about them saying they will only pay 8% interest and not the 19.9% they were piling on in interest on the £12 charges they say they will pay back?

 

Thanks

 

Citybloke

[ims21]

What they say they will pay and what a court might say they should pay are two different things.

 

No reason why you shouldn't go for interest in restitution at 24.9% if you wish

 

ims

[Bazooka Boo]

Thanks for clearing that up ims...

[ims21]

Thanks for clearing that up ims...

 

Hi

 

No probs.

 

Just to put some meat on the bones, if you consider that the original charge of £12 is unlawful then so is any interest the bank has charged on that £12. In addition the interest (or profit) they made on that interest is also unlawful and so is the interest (or profit) they made on that interest too and so on.

 

If you expand this, there are several levels of this unlawful proft and this encompassed in the principle of unjust enrichment and that was the basis of the case law of Sempra Metals.

 

While the general feeling is that a nominal rate of 24.9% is a good rate for claiming interest in restitution for this unjust enrichment, there are recorded wins on the site where a claimant has used 29.9% ass the nominal rate. Some have even got 8% statutory interest on top.

 

At the very least you should claim back the charge and the interest the bank charged you on that figure but the higher rates are available if you wish. It is down to the individual claimant to go for whatever they feel comfortable with.

 

Hope this helps.

 

Regards

 

ims

[citybloke]

Hi All

After several letters back and forth from myself and NatWest trying to settle my claim, they are only willing to pay back charges up to 6 yrs old, but only on the condition that I make no further claim. So i will have to go to court for the whole amount/period.

I intend to use the S32(1)© Limitations Act 1980 for the charges over 6 years old (Case Law for this is Kleinwort Benson -v- Lincoln City Council) and wondered if anyone had advice on how I should word the limitations act part of my N1 form?

Thanks as always

Citybloke

[citybloke]

Bump

[ims21]

There are many threads with POCs in the bank forums....here's one to start you off.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**

 

Have a read around and use the site search facility too because you will need POC (particulars of claim) to go with your N1

 

ims

[carcar]

Hi Citibloke,

 

are there any developments on how you got on with this?

[citybloke]

Hi Citibloke,

 

are there any developments on how you got on with this?

 

Hi carcar

No developments at the moment, as i'm waiting to see if I can get statements going back further than I have already. Either way, I will have to take this to court to get what i'm claiming as they won't budge on charges over 6yrs old.

 

Citybloke

[citybloke]

Hi

 

You will need to sue to get the contractual interest and charges over six years old. You would use S32(1)© Limitations Act 1980 for the charges over 6 years old.

 

Case Law for this is Kleinwort Benson -v- Lincoln City Council.

 

Have a look in the Barclaycard forum for shelley's recently won thread because, although a different bank, there is a lot of useful information in there as to how to proceed to court.

 

Regards

 

ims

 

Hi ims

 

I'm unsure how to word the fact i'm claiming charges over 6 yrs old using the S32(1)© limitations act and the case law you mentioned.

 

Are there any example wordings for tihs? as it's probably a generic statement for this scenario. I've had a look on CAG, but don't seem to be able to find what i'm looking for....maybe just my poor searching!!

 

Cheers

 

Citybloke

[ims21]

Hi

 

This is pretty much a step-by-step

 

long thread but well worth a read and note-taking

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**

 

ims

[citybloke]

Cheers ims....will study that.

 

I think the only option open to me is court action as they are adamant about not having to consider charges older than 6 yrs old. I'm just trying to get some older statement information from them, but they are saying they don't have it.

 

Citybloke

 

Hi

 

This is pretty much a step-by-step

 

long thread but well worth a read and note-taking

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**

 

ims

[SabreSheep]

I know this comes a bit late. But NATWEST DO keep statements over 6 years old. Or at least the very infomation. I recieved 07/05/14 copy statements going back to October 2001 which is about when I opened the account.

 

Assuming nothing more happened here. If for any reason you did not progress I would recommend Saring them again, make them aware that Natwest can provide transaction lists going back to at least 2001 and restart your claim.

[SabreSheep]

Bump, was this resolved?