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What Interest Rate?


kendraflo
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Can anyone tell me what interest rate they have claimed in their preliminary letter? I have been on the website and assume for a current cheque book account I should claim 22.52& as that is what they have charged in overdraft interest. I am claiming 650.00 and have worked out the interest on this is £564.00 - the account is going back to charges 01 - 03 - any help would be appreciated - don't want to muck this up for my husband.:confused:

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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I didn't claim any interest until it got to court. My overdraft limit and the interest rates had changed so frequently over the six years that it all just got too complicated.

 

There are lots of threads on interest rates in the general forum which are worth reading. £564 sounds like a lot of interest on a £650 claim, but not impossible I suppose, given the time span.

Matt

 

First Direct: £6639.77 settled in full

MBNA Visa:

Co-Op Visa:

Capital One Visa:

M&S Financial Services:

IKANO Financial Services:

 

"All the truly great men are dead - and I'm not feeling too well myself."

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Received letter this morning from First Direct offering me a goodwill payment of £540.00 on £650.00 charges - they did noty mention the interest claimed - rejection letter going off tomorrow.

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Letter received this morning offering £635.00 but makes no mention of the interest husband is claiming. Rang them this morning - spoke to "Carolyn" - letter signed Maureen Watson (she was there but wouldn't speak to us - this "Carolyn" kept putting me on hold and speaking to Maureen and then coming back to me!) - they say they don't refund interest - I said that the first letter said if I was dissatisfied them I could write to Robert Kernaghan which we did on 2nd NOv - they received our letter but did not put it before him - I have told them that I want my letter placing before him and I am claiming interest and if it goes to Court (which I will issue) they will end up paying more than I am claiming now. She still insisted they do not pay interest out 0 only refund of charges. She said Mr Kernaghan is "the highest person who deals with refunds - you can't get any higher than him" and she will put my letter before him and he should reply within 7 days.

 

Am I right about this interest situation - the interest rate I have claimed is 22.52% and stands at £564.44. Could anyone shed any light on this for me.

 

Thanks

:)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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can any moderators shed any light on the interest situation with first direct? Need help please

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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