mo/tesco and credit card charges

[mo]

can anyone point me in the right direction for help with a n1 and the p.o.c.? i ve looked in the library but i cant find it

[mo]

anyone please?

[ims21]

Hi

 

Have a read of this thread.....it takes you from start to finish for a successful claim and includes preliminary letters, POC etc which are up to date.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**(1-Viewing)-nbsp

 

Regards

 

ims

[mo]

is this ok for brief details of claim?

 

the claimant has held an account with the defendant since .... since.........the defendant deducted from my account various ammounts of money in penalty charges,the claimant contends that these charges were legally unenforceable and the claimant is demanding the repayment of this money?

[ims21]

is this ok for brief details of claim?

 

the claimant has held an account with the defendant since .... since.........the defendant deducted from my account various ammounts of money in penalty charges,the claimant contends that these charges were legally unenforceable and the claimant is demanding the repayment of this money?

 

Have a look at post #62 and subsequent posts about the PoC in the link I gave you above

 

ims

[mo]

thanks i was goin to copy the p.o.c from that post,it was the brief details i was wondering on

[mo]

1. The Claimant entered into an agreement (“The Agreement”) with the Defendant on or around xx/xx/xxxx, whereby the Defendant was to advance credit facilities to the Claimant under a running credit account, Account no xxxxxxxxxx ("The Account").

 

2.The Agreement essentially consisted of the Defendant providing the Claimant with a credit card (“The Card”) which would allow the Claimant to make purchases and receive cash advances on credit. In return the Defendant was entitled to charge interestat the published rate.

 

3.The Agreement was a Regulated Agreement for the purposes of the Consumer Credit Act 1974.

 

4.At all material times the contract was subject to the Defendant’s standard terms and conditionsicon which could be varied from time to time.

 

 

Summary

 

5. Throughout the course of the Agreement, the Defendant has added numerous default charges to the Account for the Claimant’s failure to make the minimum payment on the due date and or for exceeding the credit limit and or if a payment is returned. (Full particulars are set out in schedule 2).

 

6.The default charges were applied in accordance with the standard terms of The Agreement which were:

a). A penalty payable on breach of contract and thus unenforceable:and

b) An unfair term under the Unfair Terms in Consumer Contracts Regulations 1999 (“The Regulations”) and therefore not binding on the Claimant.

 

 

7. The Claimant is accordingly entitled to repayment of the sums wrongly added to the Account.

[mo]

is this too much for brief details of claim?

[mo]

anyone please?

[mo]

im trying finally to fill in this ni,im nearly there,how do i find this daily rate ammount and how do i work it out?

[ims21]

Hi

 

I assume you are referring to the statutory rate. This is 8% per annum (simple interest). When you have worked out the 8% figure divide it by 365 to give the daily amount.

 

ims

[mo]

thanks so i have 121.71 interest at daily rate of0.33 per day?

[ims21]

If the claim amount is £1,521.38 then yes

[mo]

no its for 225.00? what have i done wrong?

[mo]

or is it 0.0033?

[ims21]

£225.00 x 8% = £18.

 

£18 / 365 = 4.93p per day

[mo]

i did the interest at from first charge to end of account,is this wrong?

[ims21]

That's different then...its not the post judgement interest which I thought we were talking about.

 

Which spreadsheet are you using...it should be a compound interest calculator like this one so that you claim compound interest on the charges right up to the date of the claim. You should use at least the interest rate that they were charging you on the account

 

CISheet v101.xls

 

That will give you the value of your claim.

 

On the N1 you can then claim post judgement interest at a simple rate of 8% per annum from teh date of judgement to the date of settlement if you wish

 

ims

[mo]

im a bit thick i think i know what u mean,i didnt use the interest till up to date because the account has been closed for some time so i just calculated on the interest when the account was live

[ims21]

Well you can of course do that if you wish, it is up to you.

 

However, consider the fact that they have had your money right up to now and earned profits from it so you can claim interest right up to date.

 

ims

[mo]

i didnt know that,so if i work out the interest from day one of charge up till now at 8%

[ims21]

Use the rate they were charging you on the account

[mo]

ok ill have a go at that,so were does the 8% come in then

[ims21]

If you are claiming the interest at their rate you can forget the 8%...you don't get both, only as post judgement interest as described above.

 

Have a read of No.4 in my signature

 

ims

[mo]

does anyone know what address for tesco i can use,ive found,p o box southend on sea,and 24 st andrews sq edinburgh