mattpj v natwest

[mattpj]

Hi guys, I was really encouraged to look into my bank charges over the last six years so I sent off a letter with a 10 pound cheque to get my statements, unfortunately even after a week they still had not recieved but it looks to be royal mails problem as they have not got a proof of delivery on their system.. so i ring the bank and tell them of my intentions..

 

 

I get the NEXT DAY a package containing my 6 years of statements and I was well pleased after totting up by hand the charges I had £2160 pounds, I have already inputted this into the spreadsheet and i am ready to take to the next stage, which I will get into motion today. Who is it best to send my next correspodence to?

 

Also overdraft interest is not included in my figure or statuory interest but i have workt that out with the spreadsheet. How hard is it to calculate teh overdraft interest... I am quiet willing to give this up if it is.

 

Thanks for everyones support!

 

Matt

[natwesttookmymoney]

Hi, Matt, and welcome.

 

At this stage - i.e., before filing the claim - you can address correspondence to your branch, unless they ask you to do something else, like send it to head office or Central Litigation Unit. If they do, they'll give you the address.

"How hard is it to calculate teh overdraft interest... I am quiet willing to give this up if it is."

And I thought I was the one who'd had one sweet sherry too many.

 

Are you using Vampiress' spreadsheets? if you are, it's easy to calculate the interest, from the very day the charges were calculated.

 

Come back to me with any probs.

 

Westy

[mattpj]

the infamous natwesttookmymoney! Thanks buddy for the support, LOLz at typos I rarely correct them now teh looks so much better than the!

 

I have been using Vampiress spreadsheets and i have found them real easy to use. Were looking at 2436 with statutory interest, I am going to reload my printer and get printing off the spreadsheet and the next letter which is the LBA I believe..

 

If only i had started sooner! I was scared at first but its pretty simple once you start

 

Thanks

Matt

[natwesttookmymoney]

I know what you mean about teh - do it all the time! No, it was more a question of your judgement on maybe not claiming interest!

 

The next step should be the Request for Repayment, unless you've sent it already.

 

The reason is that you have to demonstrate to the Court that you have given adequate opportunity for negotiation and settlement prior to taking legal action.

BEst

 

Westy

 

PS - innit cold??

[mattpj]

hi westy.

 

I got the envelope sorted for tomorrow going to the bishops gate address, the heading is the Request for Payment, plus the breakdown of charges without the statuory interest which is 2160 (worked out on calc twice plus spread sheet!)

 

I was given a scottish address to send it to for someone called Jessica McArthur @ RBS I am told she is part of team dealing with all this but i was given no postcode with the address... so knowing the mailing system as I do I do not want to cause unneccessary delay to my claim

 

So which address should i send it to?

 

It bloody is cold as well here!

 

Take care

Matt

[natwesttookmymoney]

Hi, Matt

 

You can find lots of NatWest/RBS addresses, including postcodes(!) here: (http://www.consumeractiongroup.co.uk/forum/natwest-bank/714-natwest-contact.html).

 

Having been told to contact RBS central litigation unit in London, I'm now dealing with Cobbetts. they acknowledged the claim and are, henceforth, the address for correspondence. How things change in just a couple of weeks....

 

Yours wrapped up exceeding warm

Westy

[wendypowell62]

Whats the matter with you two? Cold, You should come down south its nice and fresh here!

[mattpj]

prelim letter was sent on monday, yet to hear a response

[mattpj]

No response.. LBA sent... Aninote.com - Natwest just got OWNED! NOT WORK SUITABLE OR FOR YOUNG CHILDREN LINK

[Guest NATTIE]

very funny in a dark way, should point out link should have a warning on it because it may not be to the taste of some people on the CAG, I thought it was funny though

[natwesttookmymoney]

OK, I'll do the honours:

 

Aninote.com - NatWest just got OWNED!

 

PG - parental guidance. Some scenes may not be appropriate for young children. Contains scenes of mild torture, car crashes, mutilation and unfortunate situations.

And some scenes are REALLY, REALLY, TASTELESS!!!!!

 

(That should turn the trickle into a flood)

 

Westy

[mattpj]

my goodness guys i am really sorry I know most may find it funny but its not very PC...

 

Mods remove or put warning on link

[Deller]

Pmsl

[mattpj]

Just till friday until I am able to do my MCOL. And i have not heard a single thing not even 1 bogoff letter or aknowledgement? Is that good or bad news?

[Deller]

Don't read in to it too much, it seems they are avoiding the early offers, probably due to the amount of claims they're having to deal with. Stick to the timescales and file your claim on Friday.

[mattpj]

ok, recieved a letter saying thanks for my letter dated 1st december, the matter will now be investigated. what the hell?????

 

So obviously i am going to start my claim, probably online.. so I need some help to get this started, where can i look to get myself started.

 

Thanks a lot

[Deller]

First you need to go to the moneyclaim website,

 

https://www.moneyclaim.gov.uk/csmco2/index.jsp

 

Enter all the details required and use the Particulars of Claim provided by this site.

Mcol Particulars of Claim

http://www.consumeractiongroup.c o.uk/forum/bank-templates-library/34887-5-money-claim-line.html

[mattpj]

thank you deller1,

 

It says not to continue unless you have sent a schedule and overdraft interest.. I am not claiming overdraft interest but I will be adding statutory interest of 8% to the claim.

 

I assume theses are two different things, and that i can pursue the claim with the 8% interest as I believed you were not allowed to include this in your schedule

 

I am asking all these questions because I dont want to make a mistake or at least feel confident about putting the claim thru.

 

Also would i be able to pay with a relatives card when i pay for my claim online or does it have to be in my name?

[natwesttookmymoney]

Hi, Matt

You don't add the 8% interest until you issue the claim.

Up to you but why, may I enquire, do you prefer statutory interest at 8% over the overdraft interest rate of 17.95%?

Yours interestedly

Westy

[mattpj]

mate i dont understand the overdraft interest i said it at the very beginning of the claim.

 

If i wanted to add this I take it I would have to send it the bank delaying things..

 

Where do I look etc.

[natwesttookmymoney]

Hi, Matt

 

I'm just about to do an interview for work and then head off to Stansted to drop off older daughter so time is pressing and I know you want an answer.

Deller, could you help with this or rope Bill-K in? You may have to promise him that this one isn't as complicated as RobberBank and LittleAngel!!

 

Alternatively, Matt, PM me with your e-mail address and I'll send you an Excel spreadsheet with the formulae already in place and some examples shown.

 

Best wishes

 

Westy

[Deller]

Right Matt, I've pm'd bill-k to see if I can get him to explain this to you, he makes it sound so simple!!

If not I'm sure Westy will help tonight.

 

There's no point in me trying to explain it when you've got two pro's like bill-k and Westy!!

[mattpj]

thanks a lot guys, I really appreciate it.

 

Is this going to mean i should not put my claim in now... and send the bank an updated schedule.

[Deller]

I would hold fire for a bit until bill-k or Westy have had a good look through for you!!

[bill-k]

Hi Matt, I just got Deller's message. Yes, it looks as though you're not going to claim back the overdraft interest you were charged on the penalties, so that simplifies things. It usually doesn't amount to that much, anyway, and is quite time-consuming.

 

You can claim Statutory interest @ 8% (which is what you were thinking of so far) OR you can claim contractual interest, which is generally worth a lot more. Most of us here are now recommending contractual interest, as it seems to be proving to be no problem. I have had a full settlement of £600 with contractual, myself - and going for more.

 

The difference with contractual interest is that you claim it at the highest rate that the bank lends money at (the contractual unauthorised borrowing rate). You also claim it at the current rate, so you haven't got to worry about previous rates. Check online, as a lot of rates went up on 1/1/07.

 

However, in addition to you charging them the higher rate, you also calculate it differently. It is calculated as "compounded daily" (as opposed to the Statutory rate which is just simple annual interest). The spreadsheet does the calculation for you, so all you have to do is make sure you're using a contractual interest spready. Vamp's Google spready No. 5 is the one she (and I) recommend. If you just use a simple spready you will lose out.

 

The final thing (which I think you're aware of) is that you MUST have your figures all sorted out BEFORE you claim. If you don't know what you're claiming, you can't expect anything in return. Take your time with this, because if your figures are wrong, your claim is wrong, and you may lose the lot. If you've just sent a prelim. without any figures, then no worry. You will need to get your spready ready first. We can check a couple of lines on it for you. Then when you're happy with that, you send the bank a second prelim - this time with the spready attached - claiming the charges PLUS the interest.

 

Then do the same with the LBA (using a new spready with the interest updated). Then (if it gets that far, you send in your claim with another updated spready).

 

Hope that makes sense, matey. Read it slowly.

 

...Then read it again.

 

Remember, it's not a race. If you hurry, you'll probably trip.

 

We can't do it for you, but we're all here to help you, mate.

 

Hope that has helped.

 

Cheers,

 

Bill.