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HELP!Can someone please advise me?


lmb
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On Monday I need to go to the court to lodge my claim.Have just read that in my letters I should of added overdraft interest!Yet everything I've read up until today says I only add 8% interest when I claim through the court!Am confused.Have sent my LBA,then got a call offering me £1000.00 which I rejected by letter{ they owe £2418.00}What do I do?Do I need to re issue the LBA but with interest I am so confused.Help,please.

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Hi lmb,

You are okay. You are allowed to add the statutory interest of 8% when you make your court claim. The other interest is contractural interest which is the interest penalties incurred as a result of the overdraft incurred because of their penalties. This is a little more difficult to work out but the spreadsheets found on this site help. The thing is if you have not already claimed it you need to decide the basis on which you proceed. They might also challange the contractural interest as they did with my claim. unfortunately as I wasn't clear at that point I agreed to wave the contractural interest which on my claim of £2925 came to about £350. This gives an idea of the amount your talking about. If you're happy to proceed without the contractural part of the claim then just go ahead and add the 8% (which accrues daily) to the claim.

Good Luck

David

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The one thing I've drummed into friends I've pointed towards this site is to read, read and read - you can answer a lot of your own questions by looking at some of the longer threads and see what others have done. I've spent a lot of time going through page after page of this site, often until the early hours!

 

In my Internet browser I have bookmarked several pages of this site too - not only my own thread but some of the more useful pages, like the http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/ and http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/31460-step-step-instructions.html

 

So, you've had an offer and rejected it. Give them 14 days from when they would have received your latest letter (2 working days after you posted it normally) and then file your claim with the court.

 

It is at this stage where you would add in the 8% interest. PLUS any fee you may have paid for your SAR AND the court costs. Have you used the spreadsheets from this site ? http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

Be good to those who give you advice that helps - click the star to give them your thanks by way of a reputation credit.

 

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I have used all the template letters and thought I was meticulous in everything I have done and sent.I just read on the moneyclaim page to STOP and make sure I had claimed what I needed to claim including the overdraft interest.I decided to claim only the charges that were taken not the interest.I just panicked when I saw the word STOP in big red letters and started doubting myself but have calmed down now and realised I've done everything correctley.I have read lot's on this wbsite and continue to do so but as I've said I just panicked,am ok now.Thanks for your help.

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Thanks David1004 I panicked! I know I've done everything right I just lost faith in what I had done so far but am ok now.This situation with reclaiming from my bank has been stressful for me and a bit frightening if I'm honest!But am back on track now thankyou so much for your help.

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I guess it is a bit frightening when you hit the STOP and it makes you doubt what you are doing.

 

I'll be filing at my local court as that's easier for me. Besides which, I would not be able to make a claim online as I don't have an active debit card due to my account being closed - guess who by?!

 

The site, and your thread, is here to ask for help so don't worry about asking if you're not sure. There are lots of people keeping an eye on the many threads and claims and someone will get back to you.

Be good to those who give you advice that helps - click the star to give them your thanks by way of a reputation credit.

 

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