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Almo23 v Nationwide


Almo23
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Time to start my own thread I think!

 

Prelim sent and received usual s0d off letter back. My LBA will go out next thursday. I am claiming a tiny amount in comparison to some of the claims on this site, only £382, but it's a lot of money to me. I have been reading up for some months now and need to decide, before sending my LBA, whether to try for compound contractual interest, and if so at the authorised or unauthorised rate.

 

As far as I can see, I have the following options:

 

8% simple (once in Court only)

24.9% simple (ditto) - have seen that this has been successfully claimed

7.75% compound

24.9% compound

 

I have tried using Vampiress' spreadsheet but it didn't save properly to my computer, so I need to find another way to calculate that. I know a few people have successfully claimed 7.75%, it does make me slightly nervous, and perhaps I'm being paranoid, that this is the authorised rate. Would I not effectively be admitting that the charges were authorised if I claim at the authorised rate? It is only now I am in the first steps of my own claim that I realise how scary the prospect of being the one they take to court (even though I know this is completely unlikely) is!

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