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    • I usually clear my credit card balance by direct debit each month.  On 23rd December I bought some wine which I hopped would be added to my January statement for payment in February.  Unfortunately, I miss calculated and the wine was charged on my December statement for payment in January.  I made three payments in January which were not enough to pay the full amount.  I was left with a negative balance of £272.60.  I also made a purchase of one item which added £7.50 to the balance.  Since I had reinstated my direct debit payment in time for my February payment, the full balance was cleared on 18th February.  By my calculation, the £272.60 was in deficit for 57 days and the £7.50 for 30 days. I have been given the daily compound interest rate of 0.0407814%.  My calculation is the interest due on the £272.60 for 57 days is (1+0.000407814)57-1 or (2.3513%) multiplied by the debt = £6.41.  The same calculation for the £7.50 is (1+0.000407814)30 -1 or (1.2307%) multiplied by the debt = £0.09.  I have calculated the days by taking the purchase date from the repayment date of the 18th February 2022.  This totals £6.50, but my bank has calculated the interest at £15.64 in January and a further £2.46 in February.  I have asked how bank calculates interest but none of the employees at the bank know.  Apparently, its too complicated and no employees who deal with customers can provide the answer.  My question cannot be escalated to someone who can explain what is wrong with my calculation.  Apparently, the computer works it out and that is all that matters (to the bank). I did calculate the daily rate at 0.040435% on the basis that it is 15.9% annually.  I used the formula (1+0.00040435)365-1 to confirm an annual rate of 15.9%.  The same formula using bank’s calculation produces an annual rate of 16.04%.  My calculations may not be perfect but the bank interest calculation is nearly 2.8 times mine.   What is wrong with my calculation?
    • Hi Caggers,   Heart in mouth moment! Just got an email through for a teams meeting tomorrow for a hearing at the combined courts....   With regards to the thread of this post last year in April i did the mediation which didn't work out as expected and then all went quiet on the western front.   I moved house about 6 months ago and i updated all of my creditors but didn't think like an absolute imbecile to do the same for the court.    I haven't prepared a witness statement, nothing! If this email hadn't of come through i wouldn't of had a clue this hearing was even due to take place. I feel like a right numpty!   Is there anything at all i can do at this point?
    • I am guessing at a link to PPI as HMRC won't send my anything pertaining to the investigation in writing although I've asked for it. This matter is already supposed to have been investigated by HMRC so this is all post investigation and I've been told to cash both cheques on the phone today.   I recieved two tax calculations form HMRC both saying the tax repayment was from Savings Income, the amount on both these calculations is actually slightly different to the amounts on the corrosponding cheques, just a few pounds out. As you can no doubt tell I did not recieve a huge amount of savings income / or interest from my savings more like £2 as opposed to £2500!   The only thing it could be is PPI, if it isn't that then it must be an error. However HMRC have already investigated this and the outcome is that the money is mine? Why would they make another error like this after investigation? Are HMRC that incompetent? Was the call handler who was taking my call and put me on hold to look at my case just too lazy / busy to actually check? I feel like they are putting me in a bad position by not properly explaining the outcome of the investigation by sending a letter. Obviously I don't want to take or spend money I'm not entitled to but at the same time don't want to not get it if it is due to me.   @Ethel Street , I have not cashed either cheque yet so probably would have to request a replacement for the November Cheque now.
    • Re-reading your post I'm not clear whether you have cashed either of the cheques yet.   Normally HMRC cheques are only valid for 6 months from the date of issue (the date on the cheque). If you haven't paid them into your bank yet the one you got last November may already have gone out of date. If it isn't out of date yet pay it to your account quickly. If it has gone out of date you'll need to contact the taxes helpline to get a replacement cheque sent. 0300 200 3300
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hopeless case v a&l


sowerby17
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offer them 7 days to supply statements or face court action

-----------------------------------------------

Mortgage Express charges- settled in full after issuing claim

 

------------------------------------------------

To view the FAQ'S click here: http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

To view the PRELIM letter click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

To view the Letter Before Action click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/92-3-letter-before-action.html

To find Registered Address:

http://www.esd.informationcommissioner.gov.uk/esd/search.asp

 

 

If my advise helps click here http://www.consumeractiongroup.co.uk/forum/reputation.php?p=366404

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  • Confused 1

-----------------------------------------------

Mortgage Express charges- settled in full after issuing claim

 

------------------------------------------------

To view the FAQ'S click here: http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/

To view the PRELIM letter click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/516-1-data-protection-act.html

To view the Letter Before Action click here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/92-3-letter-before-action.html

To find Registered Address:

http://www.esd.informationcommissioner.gov.uk/esd/search.asp

 

 

If my advise helps click here http://www.consumeractiongroup.co.uk/forum/reputation.php?p=366404

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Agree, only I would be tempted to ring aswell. This sometimes helps speed them along abit.

Kingliam

:!:

 

On behalf of the Ginger one

Lloyds TSB - 1ST 12/07/06-LBA 26/07/06-MC-14/08/06-Court-31/01/2007

Halifax - D P A 02/10/06

On behalf of MumKing

Barclays Bank D P A 29/08/06

 

On behalf of DJ Sunny

Alliance & Leicester D P A 29/08/06

 

On behalf of GrandmaKing

GE Capital D P A 30/10/06

Barclays Bank D P A 30/10/06 - 1ST 15/11/06 *Microfiche [problem]

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have read that A&L always get to court action is this true?

Also read that they will always settle any claim.Is this true?

If so why go to court stage?

Any information will be gratefully accepted

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It sorts out those who have the determination to go through with the claim, and those who will take no for an answer. If they genuinely thought they were in the right they only need to let one or two cases before a judge to stop everyone claiming, but they claim it isn't cost effective. The truth is they know they wouldn't win.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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None of them have ever gone to court. A claim has been put in to the court and A&L settle before going to court, as do every other bank. They may go to court for other reasons, but not when it comes to the actual claim itself. You will need to do a court claim, but you will not need to go to court. Read the successes forum and you will see what I mean.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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  • 2 weeks later...

Use MCOL or the form at your local court, er I forget the form. Read the successes to get the wording for the MCOL form. It pays as you are very limited to the ammount of words you can use.

You cannot (MCOL won't let you) apply for judgement before the 14 days are up.

Keep at it!

We haven't got the money, so we've got to think!

Ernest Rutherford

 

A & L

Data Protection Act Letter sent 11/08/06

Data rec'd 14/09/06, Prelim letter sent 16/09/06

LBA sent 22/09/06, MCOL 6QZ68670 issued 2/10/06 - chq for £6,375.34 rec'd 04/11/06.

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There are also samples of how to complete MCOL or the N1 for claiming in court in the Bank Templates Library.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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N1, that's the form. :)

We haven't got the money, so we've got to think!

Ernest Rutherford

 

A & L

Data Protection Act Letter sent 11/08/06

Data rec'd 14/09/06, Prelim letter sent 16/09/06

LBA sent 22/09/06, MCOL 6QZ68670 issued 2/10/06 - chq for £6,375.34 rec'd 04/11/06.

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is it quicker to do claim through mcol or at local court just had second letter from a&l saying they are definately not giving me my money back.

That what they think I want my money back and intend to get it.

 

both way are straightforward and simple MCOL may be slightly quicker. There are certain conditions to using MCOL if you are exempt from the court fee you can not use MCOL.

 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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No difference in the timescales that I know of, but if you are on benefits you can apply for exemption. Certain types of tax credits allow exemption too.

 

What's Best for You?

 

 

The Consumer Action Group is a free help site.

Should you be offered help that requires payment please report it to site team.

 

Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007

Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06

Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007

:p

 

Advice & opinions given by Caro are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

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  • 2 weeks later...

about to send off mcol took a template from somewhere on here to write for cliam hope it is ok had to adjust it a bit for it to get into the 24 lines 1800 words was not too hard. not sure but what is fast track and does anyone think i should use it? By the way a&l closed my account last year so not even open.

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