mattpj v natwest

[mattpj]

Hi thanks a lot for replying let me get you up to speed.

 

I have sent my first two letters and I am now due to put in a MCOL. The schedule of charges i have sent are just for the charges only, as I understood it you could not include the interest until i get to the MCOL stage.

 

I have been using the Vampiress spreadsheet to do this, but this was not the ones i sent in both my letters.

 

So what can i do next? Add all the charges again to the new spreadsheet and then put thru the MCOL or do i really need to start from scratch.. I really keen to avoid that.

[bill-k]

You've got a choice here, Matt. Look on the bright side - at least it's a choice that you're making and not some bank doing it for you !!

 

If you want to stick with 8% Statutory interest, then you can just carry on with your MCOL claim, and add your 8% to that.

 

If you're not sure what to do, then I would suggest you take a break, and postpone your claim until you're sure. Put your figures into a spreadsheet that calculates both the 8% Statutory and the XX% Contractual. You can then see the difference between the two. If the contractual is worth going for, then you will have to start again with another prelim. It's been done before - you simply tell them that since they have taken so long to pay up, you have had the benefit of further advice, and are now claiming contractual. That way, you don't lose face, but they get their @$$es kicked for messing you about.

 

Try this sheet. Ignore columns H to P, and just fill in the yellow shaded cells, and columns A,B & C.

 

http://upload2.net/page/download/KH5DXXfx6GF1KzW/Copy+of+16_Throughout_claim_with_compounded_contractual_interest.xls.html

 

PS Give it a minute to download.

[mattpj]

Thanks for not making me feel silly Bill-K, and i really appreciate your advice. Of course i could just start over again

[RobberBank]

A good point on charging them the current unauthorised borrowing rate.......that was something i was concerned about.

 

Bill-k is top Monkey!!!!!!!! Might even send a couple of lines to him to check for me too.

[bill-k]

A good point on charging them the current unauthorised borrowing rate.......that was something i was concerned about.

 

Bill-k is top Monkey!!!!!!!! Might even send a couple of lines to him to check for me too.

Cheers, guys - yeah, do that RB, and you too, Matt. When you're ready.

[bill-k]

Copy of post in RB's thread:- If it helps, I just checked NatWest's online rates for their CurrentPlus account. Authorised is now 17.37% AER, and unauth. is 29.69% AER.

[Deller]

Well I can see you've these guy's sorted Bill, keep up the good work!!

[bill-k]

[natwesttookmymoney]

Hi, Matt

 

Did you get the spreadsheets I e-mailed over? Did they help?

W

[mattpj]

Westy,

 

Got the spreadsheets fine, thanks a lot! After deliberating over it I am going to go straight into a claim, Time is off the essence to me and it would a lot more for me to get the money sooner than later.

 

I really appreciate all the advice, its great that you have found the time for me.

[natwesttookmymoney]

Nae bother.

 

W

[bill-k]

Matt - sorry if that spready link didn't work. I'm looking for a better way to share files. But I see Westy's here with you, so you're in good company.

 

Post up a sample line from your spready for someone to check, before you send in your claim. Just to be sure, to be sure !!

[mattpj]

hey guys sorted my MCOL but not pushed the submit button just yet. I needed to check a few things.

 

I take i push yes for claiming interest?

 

My claim is for 2160, the interest as worked out on 1st December is 262.59 pence. I worked the daily interest rate as 0.47 Did i get this right?

 

Also do i give the interest figure at the 1st december or todays date

 

Many Thanks

Matt

[bill-k]

Hi Matt. Your interest figure seems a bit low on a claim for £2k charges. Are you claiming contractual interest ?

 

Use the latest date for your spreadsheet date.

[mattpj]

its statuory 8% interest, i am not going for contractual as i explained a few posts above.

[natwesttookmymoney]

Matt -

 

The £160 figure is simple interest on £2000. It's very, very low - if you claimed compound it would be a lot more. But, as I've said before, it's up to you.

 

Westy

[bill-k]

Sorry, Matt - forgot what thread. OK 8% statutory, then.

 

OK - My final "deal or no deal" proposition - then I'll shaddup - it's your dosh after all. At a rough guess, looking at your totals, I'd say that contractual interest would increase your claim by about £500.

 

That's it, I'm outta here. My work is done.

[mattpj]

*cries*

 

Does that mean sending letters from the beginning again, shame it might cost me that much but meh, gone this far if i had known from the beginning then i would do it.

[natwesttookmymoney]

Not necessarily starting again.

If you haven't actually filed your claim yet, there's nothing binding to change.

Have you filed your claim?

 

Westy

[mattpj]

I have sent Prelim and LBA to the bank, I have not filed the MCOL claim yet. IF so.. can i apply contractual interest? If so I would be STUPID not to

[mattpj]

and also, what rate would that be exactly for Natwest?

[bill-k]

You can just tell them that, as they have taken so long with this, that you have been taking further advice, and now are claiming contractual....blah-blah. It makes them look the idiots, then, and not you !!

 

I think Westy will agree ?

 

Rates ? BUMP:

http://www.consumeractiongroup.co.uk/forum/post-468717.html

 

[natwesttookmymoney]

I certainly do, Bill.

 

the rate I'm claiming is the authorised rate, i.e., 17.95% on thelosses I've suffered, plus 8% on the lot. Unauthorised rate is 29.65%, I think but you can check through the NatWest website.

 

W

[mattpj]

ok fellas finally got a letter from cobbets about the CPR 18 request.

What do i do next?

[Deller]

Have you read this thread??

 

http://www.consumeractiongroup.co.uk/forum/natwest-bank/35672-cobbetts-cpr-18-request.html