chopper272 vs lloyds tsb

[chopper272]

just sent of my pre-approach to the bank.

i have a question?

just done a google on bank charges and some agencies are offering interest on the claim of 29.85% contractual interest how can this be achieved or is it not worth the hassle.

 

thanks in advance

 

chopper

[katesage]

Agencies?

 

Do you mean companies who offer to reclaim charges for you and successfully claim contractual interest but will charge you a fee?

 

You can claim contractual interest, it's a little more involved of course but depending on how far back your claim goes...it can massively increase your claim value.

 

Heres a good thread for you to have a read of.

 

http://www.consumeractiongroup.co.uk/forum/royal-bank-scotland-bank/37418-claiming-1991-2000-fight.html

 

good luck

[katesage]

also

 

http://www.consumeractiongroup.co.uk/forum/rbs-bos-successes/49470-contractual-interest-details-case.html

 

fascinating read!

[chopper272]

thanks for the info kate have read the thread with intrest don`t mind the pun

 

how would you work out the daily interest rate on 29.85% apr. in the templates library is at 8% working out at 0.00022?

[katesage]

Thats a very good question! errrrrmmm!

 

I'll find out!

[chopper272]

hi kate we think we have worked it out. its 0.0008384 do you agree

[chopper272]

nope sorry its 0.0008178 my mate didnt know how many days there was in a year

[bram stoker]

nope sorry its 0.0008178 my mate didnt know how many days there was in a year

I agree.

[chopper272]

the templates worked great thank you for those. recieved the usual letter from them yesterday so am sending my LBA off in the morning. is it the same system to use for EGG credit card and finance companys?

[matmondez]

Same system, get the statements then send:-

1st Pre-approach.

2nd L.B.A

3rd MCOL or N1(Should it get that far)

With regard to credit cards i add the contractual interest to the charges on the Pre-approach letter and all letters following.

With Banks you dont add the 8% APR till MCOL or N1 form.

 

To work out contractual interest get statement and look for something like:-

Monthly Interest Rate 1.094%

Multiply this by 12 =13.12%

 

If in doubt ring credit card company up they will usually help.

 

Hope this helps

 

A mod will clarify this as im a newbie.

 

Matt

[matmondez]

Finance Companys im not sure about

[matmondez]

not heard anything back from tsb since i sent my lba to them on the 13/12/06 what shall i do now???

[BARTY]

Hi

You need to start the court claim now, have a look at point 6 on the link below for details:

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/31460-step-step-instructions.html

 

Good luck, and if you have any questions please ask.

Barty:)

[daisy_bumbleroot]

With regard to credit cards i add the contractual interest to the charges on the Pre-approach letter and all letters following.

With Banks you dont add the 8% APR till MCOL or N1 form.

DAMN!!! I sent my prelim letter to Cap1 with a schedule of charges without the interest... will I be able to ask for it on the LBA and MCOL / N1?