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The Sound of a Knife Being Sharpened...


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Hi.

 

I've read as much of the forum as my patience (and pocket) will allow. Now I'm ready to bleed my cash back from the RBS.

 

I have all my bank statements and have used the 'lady with the teeth's' wonderful spreadsheet to calculate a total - about a thousand pounds in charges.

 

I intend the following:

 

1. To claim for five year's charges (the maximum allowed in Scotland, as far as I can tell).

 

2. To split my claim into less-than-£750 actions, thus keeping it in the small claims court.

 

3. To claim A) Charges B) Interest paid on Charges C) Contractual Interest on Charges and Interest. As I understand it I can claim all three in my preliminary letter, and can further add statutory interest if/when I lodge a claim with the court.

 

4. As I understand it, contractual interest would be in the region of 30%, at unauthorised overdraft rate, and would raise my total claimed to about £1800.

 

It would be incredibly reassuring if anyone could confirm that I'm correct in claiming interest and contractual interest at the first approach - and if so, that 30% is a reasonable figure.

 

Thanks in advance...

 

I can't wait to donate! And buy some whisky...:D

 

mfp.

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used the 'lady with the teeth's' wonderful spreadsheet to calculate a total .

 

PMSL :lol:

 

As I understand it, contractual interest would be in the region of 30%, at unauthorised overdraft rate, and would raise my total claimed to about £1800.

 

It would be incredibly reassuring if anyone could confirm that I'm correct in claiming interest and contractual interest at the first approach - and if so, that 30% is a reasonable figure.

 

If you are claiming contractual interest then yes you do claim from the start, along with any interest paid on charges as calculated by your spreadsheet. As for the rate of interest you use, then that's up to you to decide which one to go for - some use authorised as a safer, part tested option and & some unauthorised, based on the theory that they have taken your money without permission. As far as I'm aware the latter is a fairly new theory here and I'm not sure if there are any reported successes as yet (praps someone will be along to confirm this)

 

if you do a forum search on 'contractual interest' then there are loads of threads on the subject which may make things a little clearer on your options

 

Hope this helps - Good luck! :)

  • Haha 1

links to my current claims ...

My claim - Yorkshire Bank Visa

chezt V RBS Mastercard

Chezt v RBS Joint Account

chezt v Abbey Credit Card

 

Settled ...

chezt V Duet Card/Creation Finance

chezt v's Studio Cards

chezt v's Littlewoods Catalogue

 

Next ...

Abbey Joint a/c & Single a/c

Barclaycard (Mine & Hubby's)

Anyone else I can think of ...! :rolleyes:

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chezt,

 

thanks for replying...

 

Yeah, I really think I'm looking for someone to pat me on the back and say, 'Go kill!'... so thanks for the confirmation about the interest.

 

As to the rate: I'm aware that a lot of folks on the forum advise caution - perhaps I'll drop it to the agreed overdraft rate.

 

Cheers,

mfp.

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That's ok

 

Another option is to go for the higher unauthorised rate then if/when it goes to court you can request authorised as an alternative with 8% statutory as an alternative to that - then it's up to the judge to decide - makes you look reasonable of course.

 

Remember though this only a choice for the judge, not the bank - once u decide what ur going for with the bank then stick to it.

links to my current claims ...

My claim - Yorkshire Bank Visa

chezt V RBS Mastercard

Chezt v RBS Joint Account

chezt v Abbey Credit Card

 

Settled ...

chezt V Duet Card/Creation Finance

chezt v's Studio Cards

chezt v's Littlewoods Catalogue

 

Next ...

Abbey Joint a/c & Single a/c

Barclaycard (Mine & Hubby's)

Anyone else I can think of ...! :rolleyes:

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The RBS rate is 29.84%

 

 

Please watch what you say. ;)

 

 

 

 

 

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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good luck

links to my current claims ...

My claim - Yorkshire Bank Visa

chezt V RBS Mastercard

Chezt v RBS Joint Account

chezt v Abbey Credit Card

 

Settled ...

chezt V Duet Card/Creation Finance

chezt v's Studio Cards

chezt v's Littlewoods Catalogue

 

Next ...

Abbey Joint a/c & Single a/c

Barclaycard (Mine & Hubby's)

Anyone else I can think of ...! :rolleyes:

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If u do things by the book I'm sure u won't need it! ;)

links to my current claims ...

My claim - Yorkshire Bank Visa

chezt V RBS Mastercard

Chezt v RBS Joint Account

chezt v Abbey Credit Card

 

Settled ...

chezt V Duet Card/Creation Finance

chezt v's Studio Cards

chezt v's Littlewoods Catalogue

 

Next ...

Abbey Joint a/c & Single a/c

Barclaycard (Mine & Hubby's)

Anyone else I can think of ...! :rolleyes:

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Here we go.

 

Prelim letter sent away today... first claim for:

 

Charges = £330.00

Interest on charges = £6.16

Contractual Interest = £369.24

 

Total = £705.40

 

Bugger me...:smile:

 

mfp.

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