Application Notice ??????????

[Michael Browne]

Yes, fine. As Glenn says the N1 version leaves the door open for a judge to award a different rate, but for that to happen you've actually got to be in court

[Glenn UK]

Michael

 

forgive me for being pedantic (no change there then!) but if we file a claim requesting exactly what we want in terms of interest then even if we don't get to court we can ask for the contractual rate.

 

If we submit the claim based on Sec 69 alone then the defendant knows that we cant ask for contractual if they decide to negotiate before court.

 

As usual i don't think i made my point very well,

 

Regards

 

Glenn

[Michael Browne]

forgive me for being pedantic (no change there then!) but if we file a claim requesting exactly what we want in terms of interest then even if we don't get to court we can ask for the contractual rate.

 

So are you saying that by including:

 

or at such rate and for such periods as the court deems just.

 

that if the bank negociates before court, you can ask for contractual, even if this hasn't been mentioned in the prekim and LBA and isn't in the schedule of charges?

 

Lets keep this one short!!! lol

[Curt]

My brain is well and truly FRIED!!!! lol

[Glenn UK]

Lets keep this one short!!! lol

 

That'll be a first!!

 

What i mean is if you include contractual interest in your pre lim/lba and claim you can claim that whether you got court or not. If it does got to court then the court could award anything from the contractual rate down.

 

If you only ask for Sec 69 then then the defendant will only ever consider paying up to 8% simple interest and of course if it ends up in court the max the court can award is 8%.

 

glenn

[Michael Browne]

What i mean is if you include contractual interest in your pre lim/lba and claim you can claim that whether you got court or not. If it does got to court then the court could award anything from the contractual rate down.

 

 

But would just this cover contractual rate:

or at such rate and for such periods as the court deems just

 

I understood that it had to be specifically mentioned in your POC's:

 

The Claimant also claims interest at a rate of xx%, from the date of each transaction to (date of claim) of £xxxxxx, as set out in the attached list of charges. The claimant further claims interest at the same rate up to the date of judgment or earlier payment, at a daily rate of £xxxxx per day.

 

The Claimant believes this rate to be justified under the principle of mutuality and reciprocity, and is based on the Defendants overdraft interest rate that would be applied under the terms of the above mentioned account.

 

Should the court find that this interest rate is not applicable, then as an alternative the Claimant wishes to claim interest pursuant to section 69......

 

 

 

If you only ask for Sec 69 then then the defendant will only ever consider paying up to 8% simple interest and of course if it ends up in court the max the court can award is 8%.

 

Agreed.

[Glenn UK]

But would just this cover contractual rate:

 

No i think you would need to specifically mention contractual interest in the claim. As the court cannot claim more than asked for in the claim and contractual interest in the case of banks and CCs is applied in a compound fashion i don't see how we could rely on this clause without specific reference to the contractual rate.

 

I understood that it had to be specifically mentioned in your POC's

 

i agree and think my post has caused more confusion than help!

 

Sorry

 

Glenn

[Michael Browne]

 

i agree and think my post has caused more confusion than help!

 

Not at all, helped clear a point. I'm not at all confused, at least I don't think I am, which is probably more dangerous!!!

 

Curt, you can have your thread back, sorry for the hijack.

[Curt]

hahaha, don't worry about it. I'll have a few more questions for you no doubt!! I handed my new N1 claim forms in today so I'll wait to hear back from the court.

 

This might sound like a silly question, but a solicitor i spoke to said that the court hearing will be a quite small affair, basically in a small room around a set of tables. I was just wondering what I should wear? lol. Are we talking a suit, a suit with casual jumper underneath or just casual clothes? lol

[Michael Browne]

Blimey, this is a first, I've never been asked for fashion advice before!!!!

 

At least smart casual, jacket and tie maybe.

[Curt]

Haha! I know you should wea a suit to a normal court but one of these I'm just not sure lol. I think if it gets to that stage I might opt o the suit just to be safe lol.

[Glenn UK]

you could try twin set and pearls!!

 

From what i cam make out if you don't pull the judge the other sides barrister will probably up for it.

 

JMHO

 

Glenn

 

 

PS only joking