Barclaycard - Charges on Charges and credit limit increases

[greg0818]

Afternoon Slick,

 

Just wondering if you have had chance to calculate the best interest/claim total?

 

Thanks

G

[slick132]

Thanks for your patience and I'll come back within 24hrs I hope.

 

[greg0818]

The thanks are all mine slick.

[slick132]

Hi Greg and we've had some discussion about your case.

 

Here's my summary of your options :-

 

1. Use a rate of compound restitutionary int that gives you a claim under the £10K limit. Eg try 22.9% or whatever keeps you under the limit. It's a nominal rate anyway, not the actual rate that you were charged.

 

2. Use 24.9% and claim the amount even though it's over the £10K limit. The claim being slightly higher doesn't dictate the track you claim is allocated to. Site Team Andyorch says a claim in excess of the £10K limit can be allocated to SCT due to the basic principles and complexities of the claim...CPR 1 (1.1).

 

3. Andyorch thinks splitting the claim is unnecessary due to the opinion in 2. above.

 

4. He also thinks it's unwise as the defendant's sol'rs would challenge the use of 2 similar court claims to reclaim charges from different time periods (res Judicata).

 

Your Prelim Claim letter should include charges and compound int't up to the date of the claim letter.

 

The claim when issued will include the same charges plus compound int to the date of the claim (which will be slightly higher than the the Prelim and LBA amounts) plus s.69 int running daily from the date of claim until settlement.

 

Put a draft Prelim here for checking first if you want but hide all identifiers.

 

[shamrocker]

Would it not be correct to use the actual interest rate that best represents any loss incurred? i.e. 26%, as per the statement - assuming it was consistently at that rate throughout the period in question.

 

Also, is that PPI I saw in the earlier statement? Is there an option to reclaim that too, plus any interest? Sorry, I haven't got much of a clue about PPI, hence I'm asking rather than suggesting.

[dx100uk]

The ppi under a plevin offer has already been addressed By BC in his other thread...along with £420 of these penalty fees+not.

 

If accepted..that throws the sheets here into the bin..they are not correct

[shamrocker]

Where are you getting information on the £420 fees DX?

[dx100uk]

https://www.consumeractiongroup.co.uk/forum/showthread.php?492431-Bc-ppi&p=5170981#post5170981

page 4 pdf in post 6

[greg0818]

Hi all,

 

Sorry for the delay in replying. The wife went into labour a bit earlier than expected...

 

I am happy to limit the %, that would work well.

 

How does that fit with what DX mentioned about refunding some charges already?

 

Thanks

[slick132]

To keep things simple, I suggest you reclaim ALL the BC penalty fees plus compound per the spready to keep the claim below £10K.

 

Then make an adjustment on your spready to reflect the refund already made of £420 but which took no account of compound int.

 

Your spready (Schedule of Charges) will show the summary at the top of date, int rate, charges toal and comp int total. Then you can put lower down on the spready :-

 

Total for chgs and int as above 9,776.24

Less chgs repaid by BC on xxdate 420.00

Balance claimed after adjustment £9,356.24

 

I hope others (in particular, DX) will offer opinion on this.

 

[dx100uk]

seems like a sensible answer, its the way ppi was always done if a rebate had already been given when say settling something early or if it was refinanced.

 

BUT...

there no interest on the £420 charges either on their breakdown of that PPI refund ..so ….

they have actually short changed you here.

and ofcourse if you just take £420 off your total of the charges spreadsheet, you are NOT getting the compounded int due on EACH ONE from the date it was levied..

 

this is going to be very difficult to workout unless we know the dates of these charges that amounted to their £420.

unless ofcourse you just swallow that ans use it to reduced the figure below whtever top figure you want to get back...

 

dx

[slick132]

Thanks DX.

 

I think Greg needs to keep it simple, as I said above. BC refunded with no regard to simple or compound int so reclaim seeking full comp int and deduct the actual chgs already refunded - Simples !!

 

[greg0818]

Morning Slick

 

Please see below PreLim and attached spreadsheet.

 

Do these look okay?

 

Barclays Bank PLC t/a Barclaycard

1 Churchill Place

London

E14 5HP

 

28th January 2019

 

 

Dear Sir/Madam,

 

CARD/ACCOUNT NUMBER: 4929-4991-4414-5004

 

I now understand that the regime of fees which you have been applying to my account in relation to late fees and over limit charges, are unlawful at Common Law, Statute and recent Consumer regulations.

 

I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

 

I calculate that you have taken £1,116.00 in charges and I also claim restitutionary interest of £8861.33, making a total of £9977.33.

 

I enclose a Schedule of Charges listing the amounts that I require to be repaid.

 

Additionally, you have entered adverse payment history against my credit record. This adverse payment history occurred merely in respect of unlawful charges levied by you, or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.

 

In addition to full payment of the sum mentioned above, I require that you remove the adverse payment history entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.

 

I require repayment in full of this money and removal of the default notice. If you do not comply fully within 14 days, I shall begin a claim against you for the full amount plus interest, plus my costs, without further notice.

 

Yours faithfully,

CISheet v101__v2.xls

[slick132]

Hi Greg,

 

I assume you adapted the letter to reflect your own circumstances, in which case, it looks good to go with the SoC.

 

[greg0818]

Thanks Slick

 

is it advisable to mention the £420 already paid in the prelim, or just leave them to work it out from the SoC?

[slick132]

No, it's way too early to worry about the finer detail.

 

Wait for their reply to the Prelim ltr or send the LBA if they fail to respond within 14 days.

 

[greg0818]

Morning Slick

 

Hope you're well.

 

Reply from BC today. Copy attached.

What are your thoughts?

 

 

Thanks

Barclaycard Reply_070219_Upload.pdf

[slick132]

Just send the LBA but first update the spreadsheet to the current date and refer to the higher amounts referred to in the updated spready.

 

[greg0818]

Morning Slick

14 Day LBA timescale expired yesterday. No reply from BC as expected.

What do you suggest for the next step?

Thanks

G

 

[slick132]

Just do exactly what you said - file a claim against Barclays Bank PLC t/a Barclaycard !!

Update the SoC spready and use the new higher figure for the amount claimed.

Use MCOL system but, if you have any queries, ask before you file.

Any answers you need should be there on prior cases but ask if you need.