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Template V Lloyds TSB


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  • 4 weeks later...

Ok I got my statements but I'm a bit stuck...reading through the FAQ and POSTS it is clear that statutory 8% interest is not charged until court proceedings....but.....can i charge compound interest (contractual or not) at the Prelim letter stage and beyond upto court proceedings.


And if I can and it reaches the Court do calculate 1. Bank Charges + compound interest + 8% statutory interest.




2. Bank charges + 8% statutory interest.




3. Bank Charges + compound interest throughout?


Some Clarification on this point would be excellent....if this information is to be found, I have not found it and I apologise for my inepititude.

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Hi Template,


If you are going to claim for contractual interest then you can't claim for statutory as well - it is either one or the other.


You are right, you can't add statutory interest to your claim until you file it at court. If you are claiming contractual interest then you can and should add it to the claim throughout.


Hope that helps,


Lucid :)

Mindzai & Lucid vs Lloyds TSB

*Won unconditionally with contractual interest (29.85% compounded)

Lucid's Account - £749.62 * Joint Account - £2019.64 * Mindzai's Account - £595.65

*All settled in full - 6/2/07

*Hearings - 7/2/07

*Prelims sent - 9/8/06


GOT A COURT DATE? A guide to the later stages



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