lloydstsb overdrafts charges reclaiming.

[hesanmp]

i had a current account with Lloyds which was closed back in 2007. the balance was over 10k. are there any time limits on Lloyds, or their agents, chasing this debt?

[dx100uk]

depends upon when the bank called the debt in.

 

 

limitations act obviously

 

 

dx

[hesanmp]

dx again thanks, i have sent sar to lloyds. i used to have too may accounts and credit cards etc etc, i should have got round to dealing with them years ago!

[hesanmp]

just putting together my spreadsheet for lloydstsb bank charges. each month i was hit with overdraft excess fees, unpaid dd's & so's. on top of this was of course o/d interest. i take it when the o/d interest was calculated it was also on the fees? is there any simple way of calculating the interest on the charges, so i can claim that back?

 

cheers

[ims21]

Put the charges into the Compound Interest spreadsheet to get a value that you would use for the interest on them.

 

However, this being a current account makes it very difficult to get the charges back.

 

On what basis are you attempting to reclaim these charges? BCOBS?

 

During what date periods were these charges incurred?

[hesanmp]

between 2001 - 2008.

 

currently in serious hardship.

 

not looking to claim under the banking code, i was reading with interest the recent success against lloyds which focused on unfair terms.

[ims21]

Well you might be lucky but I don't think this will be easy.

 

Did you communicate your hardship to the bank at the time the charges were being applied?

 

BCOBS is not the old banking code....BCOBS came into force in November 2009 i.e. after your charges were being applied.

[hesanmp]

at the time yes, they rejected my claim

[ims21]

So is your plan now to go the whole hog and sue them in court over this?

[hesanmp]

in light of the success in taunton county court what have i to loose?

[ims21]

Ok I am going to see if I can some more opinion for you.

 

You do realise that this was a low level County Court judgement and not binding on other courts? It may however be seen as persuasive to a judge in another court but that is the lottery part.

[hesanmp]

the charges plus interest should be just under 10k. i will get fee remission for issuing a claim. therefore the max i could loose would be any court costs lloyds incur. it is therefore worth it.

[steampowered]

Provided that the claim is for less than 10k (and hence small claims)

and provided that you are prepared to put a fair bit of work into this

and provided that you seek help with drafting your court documents to ensure they are legally sound (in order to avoid the bank trying to claim their legal costs by arguign that you acted unreasonably or that your claim was hopeless)

 

I say go for it!!!!

 

I believe the recent Taunton county court case is being appealed. The outcome of that should be known later this year. If you want to be careful it could be worth waiting for the outcome of that.

 

If you intend to go through with this whatever the result of that appeal, there is some merit in just going ahead and filing now anyway. There are no guarantees about whether the Taunton CC judgment will stand - my personal view is that there is a decent chance of it getting overturned in favour of the banks (although I hope this doesn't happen).

[hesanmp]

cheers steampower. i have calculated the charges and interest and it comes to over 12k, i used 8% for the interest calc. should i round down the interest to bring it under 10k?

[Guest]

.......

 

I believe the recent Taunton county court case is being appealed. .

 

 

thought that wld happen.

the cty cts view was though perhaps something that the supreme court (oft case) hinted at. imo. time will tell.

[hesanmp]

wasn't it the claimant that appealed??

[Guest]

wasn't it the claimant that appealed??

 

presume we mean orfosters cty ct case? http://www.consumeractiongroup.co.uk/forum/showthread.php?397677-Lloyds-Default-due-to-PENALTY-charges-going-to-court-under-BCOBS/page13

 

now apparently to be appealed, by loyds the defendant (not claimant)?

[hesanmp]

indeed

[Guest]

indeed

 

then is the defendant loyds appealing, not orfoster

[hesanmp]

that is my understanding, have a read of the daily mail article regarding the case...

[Guest]

that is my understanding, have a read of the daily mail article regarding the case...

 

 

have read it.

you said it was the claimant that appealed!

[hesanmp]

i'm confused as i just read this from his article!!

 

The judge initially said the ruling only applied to the claimant, but Mr Foster-Burnell has been back to court to ask if the rule could be applied to all bank customers – a decision is expected later this year.

 

He added: “There could be 12.6million people impacted if the case becomes a legal precedent – the floodgates could open.

 

“Many people would just have accepted the charges and done nothing about it.

 

“It wasn’t about the money – it was the principle.”

[Guest]

ah ok. that wldnt be an appeal as such by orfoster, rather a request for a (general) ruling.

 

steampowered can explain it better.

[caro]

cheers steampower. i have calculated the charges and interest and it comes to over 12k, i used 8% for the interest calc. should i round down the interest to bring it under 10k?

 

Can you clarify which interest you are referring to please. If the claim is under £10k before adding on 8% section 69 interest then it is still classed as under £10k. If you mean the interest that you've paid out on the charges takimh it over £10k then it would be fast track and you would be liable for costs if you lose. Also if you are talking about section 69 interest awarded at the court's discretion, then you can't claim that until you actually put in a court claim.

[hesanmp]

hi caro

 

thanks for that. the charges come to just over £7k. i then calculated the 8% sect 69 which took it over the £10k. on reading your email when i send them my letter before action, do i therefore just detail the charges which i am claiming for?

 

cheers