Contractual interest - another full settlement!

[lucid]

Mindzai I didnt say that. I copied it from bills new thread contactual confusion. .

 

Milly X

 

Hi Milly,

 

I've gone in and edited that for you (as Mindzai). I don't think Mindzai meant to quote you as having said that.

 

_______

 

Crispdust,

 

I completely agree with you way of thinking and this is what we did with our two settlement offers. We got offered amounts without contractual itnerest and so completely rejected the offers. Rejecting the offer in its entirety is the only way that you can proceed to court without having to dispute the interest on its own.

 

Lucid

[lucid]

Hi Milly,

 

To be completely honest, no we were never worried that we were being unreasonable and I don't think we were unreasonable at any stage of our claim. We got an offer on our joint account of charges + court costs + 8% interest approximately up until the date we filed the claim (but no daily interest at 8%). They said that overdraft interest isn't reclaimable and that they wouldn't entertain our list of letter writing costs or 29.85% interest. We rejected the offer entirely pointing out that it is up to the court to decide which parts of the claim are applicable or not. We didn't hear anything back from them and then our claims were settled completely the day before the court hearing. But even if they had offered everything apart from 29.85% interest (replacing that with the correct amount of 8%) we would have still rejected their offer entirely. But we were confident in what we were doing and we were prepared to turn up in court if we had to. If we had turned up in court and the Judge had completely dismissed the contractual interest then we would have accepted that and would not have regretted trying.

 

However I do believe that anybody who is unsure of what contractual interest is and couldn't tell you the grounds for claiming it, should not be considering adding it to their claims. These are the people who could end up having their claims struck out or turning up at court and not having a sound case to present to the Judge. In my opinion if you thoroughly prepare your case and turn up to the court prepared then even if the Judge doesn't agree with applying contractual interest, I am sure they would accept that you have put a lot of time and effort into preparing a case that you believe to be accurate. I can't imagine they would then proceed to striking out your claim and potentially awarding costs against you. This is of course pure speculation on my part but we are all litigants in person and I think the court will look upon you more favourably if you have obviously taken this seriously and prepared. But it is the people who go ahead without understanding who are going to be vulnerable.

 

Lucid