Lovejoy v Barclays

[lovejoy]

Today I sent off my first letter to Barclays claiming back all charges for the last six years.

I already have all my statements from this period, thanks to my wife, so it was just a case of going through each one and totting up the charges.

It's amazing just how much they have taken from me.

I decided to go straight for the 8% interest from the start, just to let them know I mean business.

I will keep this thread updated on the progress.

Right where are those credit card statements

[Guest bong]

lovejoy which 8% interest is that? contractual?

[lovejoy]

lovejoy which 8% interest is that? contractual?

 

Sorry yes it's contractual interest, not compound.

I have calculated with the help of a calculator downloaded, the interest due for each charge from the date of the charge.

[lovejoy]

Originally Posted by bottomburp

No, if you're adding interest you should add it at the rate the bank charged you - which will probably be something like 22-25% if your o/d was unauthorised (and it must have been for them to bounce DDs, cheques etc).

Anyhow, it's up to you of course but if the charges occured a while ago the interest adds up and you are entitled to claim it back!

 

I thought I could only charge interest at the rate at which the courts would would judge i.e 8%

 

I think I probably need to hold back on handing the letter in and recalculate the interest.

Forgive me on this but, isn't the interest rate charged by the banks excessive in the first place and therefore part of the problem. So if I charge them interest at the same high rate wouldn't that make my claim excessive and liable to failure should it reach court?

[Guest bong]

If you're claiming back interest they have charged you, that wouldn't be excessive that would be just asking them to give it back.

 

However, if you want to add on the statutory interest of 8% you can only do that at the court stage.

[bottomburp]

deleted

[lovejoy]

I have now recalculated the interest at 2.05% per month for each charge. This is Barclays rate as stated on my bank statements. This comes out at 24.6% APR or 27.572% AER and the figure for the calculator from vampiress is 0.000755.

You were all correct it does make a bit of a difference.

From an initial £475 charges with interest calculated at 8% (=£91.79) to interest now calculated at £330.67

I hope I've got this correct. The only charges I've included are paid referral fees and a couple of unpaid DD charges over the period.

[lovejoy]

I have now recalculated the interest at 2.05% per month for each charge. This is Barclays rate as stated on my bank statements. This comes out at 24.6% APR or 27.572% AER and the figure for the calculator from vampiress is 0.000755.

You were all correct it does make a bit of a difference.

From an initial £475 charges with interest calculated at 8% (=£91.79) to interest now calculated at £330.67

I hope I've got this correct. The only charges I've included are paid referral fees and a couple of unpaid DD charges over the period.

 

Just wandering if anyone out there could check my calculation above, and let me know if it is ok to charge this rate to Barclays or should I just go for the £475

[lovejoy]

Originally Posted by lovejoy

I have now recalculated the interest at 2.05% per month for each charge. This is Barclays rate as stated on my bank statements. This comes out at 24.6% APR or 27.572% AER and the figure for the calculator from vampiress is 0.000755.

You were all correct it does make a bit of a difference.

From an initial £475 charges with interest calculated at 8% (=£91.79) to interest now calculated at £330.67

I hope I've got this correct. The only charges I've included are paid referral fees and a couple of unpaid DD charges over the period.

Just wandering if anyone out there could check my calculation above, and let me know if it is ok to charge this rate to Barclays or should I just go for the £475

 

Lovejoy

[lovejoy]

Hi everybody,

Today I sent off my preliminary letter to Barclays giving them the statutory 14 days to respond. I also took the plunge and have gone for the throat so to speak and added interest at Barclays unauthorised borrowing rate on each individual charge. It almost doubles the claim!

I decided on that approach purely because I am treating this as a bonus and any money regained is a plus, but because I haven't really missed it, I decided to try and go all the way with this claim just to test the water.

 

Should I add this thread to the contractual interest thread or just leave it in here?

 

Either way I will keep everyone up to date.

[lovejoy]

I received a reply within a week of my first letter saying they will get back to me in January, then on Saturday 16th received the standard offer of around half of the charges.

The fourteen days are up today so the LBA goes in the post. I'm still adding interest at 2.05% per month on the outstanding balance and have today notified them that further charges will be added for my time should a satisfactory response not be received by the end of this fourteen day period.

I'm really enjoying this.

[bottomburp]

deleted

[lovejoy]

Good on you! Did you see yesterday's Sunday Times. There was an article about excessive bank charges in the Money section - here's the link

Banks rake in 1,200% on overdrafts - Newspaper Edition - Times Online

 

Good luck with your claim.

 

Interesting reading. There seems to be something of a snowball effect going on now from all areas. Even the BBC got in on the act last week.

[lovejoy]

Hello again all,

Just thought I'd bring this thread up to date.

I sent off my court claim some time ago and Barclays left it to the last day to respond, saying that they intend to defend the claim in full. They must now respond with details by April 9th.

Is this normal Barclays practice?

[Guest bong]

lovejoy have you got that date right? surely they only get 28 days from service of the claim to defend it.

[lovejoy]

lovejoy have you got that date right? surely they only get 28 days from service of the claim to defend it.

 

I originally filed my claim on 13th Feb and the court deemed it to be served 48 hours thereafter (15th Feb), but Barclays filed their acknowledgement of service on the 9th March and they now have 28 further days to file the defence.

At least that's what the court letter says.

Just Barclays employing stalling tactics and by saying they intend to defend the claim in full are probably hoping that I'll drop it, but I have no intention of doing that even though I am still claiming interest at their unauthorised borrowing rate of 2.05% per month.

[madhouse5]

The way I understand it is barclays have 28 days from date papers are deemed served so 28 days from 15th Feb. Please anyone correct me if I'm wrong.

 

Maybe it would be a good idea to post up what court letter says.

 

HTH

 

madhouse5:)

[Guest bong]

yes, madhouse is right, check the dates again - they only get 28 days from date of service which has already passed.

[lovejoy]

Latest Update Re: Barclays Claim.Today (19th April) I received from the court a letter granting judgment to me the claimant. Barclays had up until the 17th April to pay in full and as Barclays haven't paid, the next step is to pay £55 and send in the baillifs, which is what I intend to do tomorrow (Friday).

[Micky the Hippo]

have you called them?

 

usual procedure on the other B threads is to call some Krystal woman a week before the court date at which point they invariably settle in full

 

a warrant will do it too and might be more fun

 

to be clear then, you made a CI compound claim at the unauthorised rate and they didn't contest it?

 

goody, I've got a fairly hefty one at just getting to the LBA stage, that compound CI sure do bite on the older charges :o

[lovejoy]

have you called them?

 

to be clear then, you made a CI compound claim at the unauthorised rate and they didn't contest it?

 

goody, I've got a fairly hefty one at just getting to the LBA stage, that compound CI sure do bite on the older charges :o

 

Yes,I charged them at their unauthorised borrowing rate of 2.05% per month and they initially said they intended to defend the claim, but after their initial correspondance neither myself or the court heard anymore.I think the bailliff route will be a lot more fun than just a phone call

[Micky the Hippo]

 

thanks

[lovejoy]

UPDATE:

 

Today 24th April I received a letter from Barclays offering to pay in full with a few conditions attached and I would be grateful for any directions from fellow forumers or mods.

 

The conditions are set out below:

 

1, The sum of £xxx is paid in full and final settlement of your claim entitled xxx county court xxxxxx (They have offered the full amount)

2, There be a voluntary stay of execution pending payment. (I assume this is to stop me sending in the bailliffs)

3, That upon receiving payment you write to the Court stating that you have withdrawn your claim pursuant to a settlement between the parties. (Seems self explanatory)

4, That you consent to the default judgment being set aside. (This is the one that worries me)

 

Also enclosed is a consent order stating:

By consent it is ordered:

1, The default judgment entered 17 April 2007 be set aside forthwith

2, There be no order as to costs

 

Now Barclays want me to sign both of these and send them back before they will send a cheque.

 

I am concerned that once I sign and return these then I will have no recourse against Barclays should they delay the matter further or even not pay up at all.

 

Has anyone had anything similar in the past or is this the norm?

[Micky the Hippo]

from other threads I believe the standard advice to agree to nothing until the money is cleared and at your disposal

 

stories of cheques bouncing believe it or not, they can BACS it

 

I see no reason to rush other than the baliffs, and they'll wait if they're told that settlement is being made

 

the costs they're trying to avoid are your MCOl costs and the baliffs costs aren't they? Or were those included in the court judgement, they should be I think

 

and congratulations (seemingly)

 

to conclude, you charged them unauthorised compound contractual and they settled that claim in full?

 

I don't think you have to agree to anything at all they're the ones trying to avoid justice, not you

[lovejoy]

from other threads I believe the standard advice to agree to nothing until the money is cleared and at your disposal

 

stories of cheques bouncing believe it or not, they can BACS it if time is short

 

I think you can ask the court to delay while they settle, I think

 

and congratulations (seemingly)

 

to conclude, you charged them unauthorised compound contractual and they settled that claim in full?

 

I don't think you have to agree to anything at all they're the ones trying to avoid court, not you

 

Thanks for that MTH.

I have tried to call them but just keep getting the answer phone and they aren't returning my calls.

I charged them the full 2.05% per month and they have agreed to settle for the full amount.