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Hi guys,

 

I need some advice on behalf of a friend of mine who is going through this process!

 

He has:

a) got his statements,

b) compiled his spreadsheet,

c) sent off LBA1 & LBA2,

d) got a stupid offer from Halifax which he refused, then

e) made a claim on Moneyclaim Online:

 

TOTALS:

(ORIGINAL CHARGES) 525.00

(+8%) 122.63

COSTS 120.00

 

767.63

 

(INTEREST ON CHARGES) 365.59

(+8%) 69.39

434.98

TOTAL: 1,202.62

 

He has now received another offer from Halifax, a bit less stupid than the first, but still considerably less than he asked for:

 

TOTALS:

(ORIGINAL CHARGES) 525.00

(+8%) 124.44

COSTS 120.00

 

769.44

 

 

TOTAL: 769.44

 

(Disputed: 433.18)

 

They seem to be paying him for the charges, and 8% interest on the charges, but not the original interest & 8% on that (if that makes sense!). (NB: for my HSBC claim, I got the lot.) The letter states: '...we do not consider you are entitled to the further £433.18 that you are claiming. Unless you can provide evidence of this further loss the Halifax will file a defence in respect of this part of your claim'.

Most people on this board seem to agree that Halifax only dispute charges at this stage if they think they can win - do you think that they have a point with this and that he should just settle? Or are they trying in on and he should hold on for the lot? Or, third option (as he needs to respond within 7 days) - should he ask WHY they are disputing the £433.18?

 

Any help and advice very much appreciated!

 

WendyN

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Hello,

hope the formatting of the figures works this time...!

(First column of Vampiress' interest calculation spreadsheet)

Original Penalty Charges for last 6 yrs 525.00

+8% interest on claiming through MCOL 122.63

MCOL court costs 120.00

Total: 767.63

 

(Second column of Vampiress' interest calculation spreadsheet)

Compound Interest on Penalty Charges over last 6 yrs 365.59

+8% interest on claiming through MCOL 69.39

Total: 434.98

 

GRAND TOTAL: 1,202.62

 

Halifax Offer:

 

TOTALS:

Actual Penalties 525.00

Nominal Interest Payment 124.44

MCOL Court Costs 120.00

 

GRAND TOTAL: 769.44

 

(Disputed: 433.18)

Thanks

WendyN

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I,m afaid IT,s EITHER OR you cant claim compound interest and 8% MCOL interest..Or so I read on here..

This is MY oppinion for what it worth

BARCLAYS BANK LBA 23/10/05 £2,626.67:)MCOL ISSUED 11/11/05

LOMBARD DIRECT LBA + Default removal 25/10/06 £290.50 :grin: Received settlement but they won,t remove default

BARCLAYCARD LFB 10/9/06 £320.00 :cool:

AKTIV KAPITAL LBA DEFAULT REMOVAL letter sent 22/9/06 + 23/10/06 and as yet have had no reply (sent letter to all 3 CRA re-there none compliance):confused:

 

"divant worry aboot what ya owe let them woory that want,s it off ya"

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?????

 

I claimed, and got, both from HSBC not above two months ago.

I just followed the guidance from the FAQs, and from Vampiress' spreadsheets:

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

 

Surely that's not right?! Kind of want to fight for this if we're entitled to it.

 

WendyN

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Hello,

just checked the figures again - it's the advanced spreadsheet that we are using to calculate interest, as per Vampiress' page. The figures are all correct -

PENALTY CHARGED £525.00

INTEREST ON PENALTIES £365.59

8% ON PENALTIES £125.28

8% ON INTEREST ON PENALTIES £71.24

Has anyone else had this problem?

A partial offer of payment AFTER the MCOL claim has been submitted?

Just need some reassurance with turning it down - if this has happened to a lot of people, then it's just Halifax trying it on...

Thanks for your help!

WendyN

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  • 6 months later...

Just letting you all know that ~ one week before the court date, Halifax phoned us and settled in full - 'to save on court costs'.

 

NB: this is charges, plus interest, plus 8% court interest.

 

Now we have had this in writing, and had the money in our bank account, we can breathe easily!

 

Thanks to all for your help, and good luck to anyone else in this position - hang in there!

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