i have emailled the Law Society

[itsamomentintime]

hello

i understand that the yearly rate of interest is 8% but moneyclaims website is asking for a daily rate as well

 

does anyone know what the daily rate is?

[nathal]

Statutory Interest

 

 

1. To calculate the "Statutory Interest" of 8% you must take 8% of the amount of your claim. For example, if your claim is for £3,000 the Statutory Interest of 8% would be £240.

 

2. Take the Statutory Interest figure and divide it by 365, e.g. £240 divide by 365= 65p (The daily interest figure).

 

3. Calculate the amount of days between the date of your claim and the final hearing. For example, if you started your claim on the 22nd Sept 96 and the Final Hearing takes place on the 31st Dec 96, then this is 100 days.

4. Multiply the number of days by the Daily Interest rate figure, 65p x 100=£65. This gives you the amount of interest to be added to your claim at the end of your case.

[itsamomentintime]

email as follows:

 

''changes to the law in april ruled that various bank charges (unpaid direct debit fees, etc) were unlawful. my question is, what happens when, after suing a bank for the fees back (and winning), the bank continues to apply unlawful fees to your bank account?''

 

i will post their response when i get it

 

 

HARDCORE WILL NEVER DIE

[Glenn UK]

Out of curiosity what made you ask the Law Society?

 

Aren't they the body that regulates practitioners and not the law itself?

 

Glenn

[gizmo111]

And which law are you referring to that changed in April

[POCA]

Both good questions. The Law Society will not answer your question and will probably direct you to a solicitor.

[Bookworm]

Well, be fair to the Law Society, they can't answer that one, since the law didn't change in April...

[itsamomentintime]

unfair terms act, or consumer credit act is the law involved - if they refer me to a solicitor then i will ask the same question.

[POCA]

The law relating to penalty clauses being unenforceable is common law.

[gizmo111]

unfair terms act, or consumer credit act is the law involved - if they refer me to a solicitor then i will ask the same question.

 

To my knowledge neither of these laws changed in April. Are you maybe getting confused with the OFT report in April on unfair charges?

[itsamomentintime]

yes i am - sorry. bank charges are unlawful. if a person is consistently punished by unlawful charges, the person should be protected yes?

[gizmo111]

yes i am - sorry. bank charges are unlawful. if a person is consistently punished by unlawful charges, the person should be protected yes?

 

Yes - that's why CAG is here!

The law society cannot do absolutey anthing - you would be best of concentrating on reclaiming your charges. if you need any help let us know.

[itsamomentintime]

i am already claiming the charges back.

 

people please understand, banks are being sued for the same offence - meaning they are guilty of committing the same offence more than once, twice etc. i am sick of it. they must be punished

[gizmo111]

i am already claiming the charges back.

 

people please understand, banks are being sued for the same offence - meaning they are guilty of committing the same offence more than once, twice etc. i am sick of it. they must be punished

 

They are being punished - they keep paying out.

There are suggestions on here on wording letters to financial ombudsman and your MP - use those as part of the campaign.

There is a demo on 1st December in London - come to that.

[notlam]

They are being punished - they keep paying out.

 

Eh? If somebody steals something, gets caught and is then told to give it back, do you really consider that as "being punished"?

 

That's why most of them are still doing it. :-|

[itsamomentintime]

Eh? If somebody steals something, gets caught and is then told to give it back, do you really consider that as "being punished"?

 

That's why most of them are still doing it. :-|

 

 

i agree - simply giving money back that they should not have in the first place is not a punishment

[Jimbo44]

i agree - simply giving money back that they should not have in the first place is not a punishment

 

That's as maybe, possibly I agree with your reasoning. However, the Law Society regulates solicitors and the legal profession but not the banks/financial institutions who are actually 'doing the taking'.

 

As has been suggested earlier, possibly the best places for your complaint are either your MP, the FO or the OFT (who's original report last April brought this issue to more general attention).

[CrispDust]

itsamoment - drop it with the Law Society - a complete waste of time.

They "regulate" the legal profession. Well they don't. They have no teeth really and its a case of jobs for the boys (or girls) so don't waste your time, paper or stamps.

[itsamomentintime]

ok will do - didnt get anything back anyway

[e28bigalbexley]

Is it HK in disguise?