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Jimbo vs Natwest

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Hi all, long time reader of the forums but have now decided to get my arse into gear and get back my money from Natwest.

 

Received my statements this morning in post (Very quick as well I must say - only sent the SAR on 22nd Dec - but has turned up in an envelope that looks like it went through a shredder, envelope was wide open down one side, nice to see Natwest take my personal information seriously)

 

Anyway, have now sat down and worked out all my charges, came to a grand total of £1936 (Strangely found myself hoping to find loads and loads of charges as I was going through them :p)

 

Now need some help with how much to lodge claim for, from reading through forums I understand 8% interest can only be added when/if goes to court, however is it possible to add on contract rate for either arranged/unarranged borrowing from outset? And if so, bearing in mind my account balance was in overdraft for I would say 90% of the period, which one should I use?

 

Had a shock when I put in the unarranged borrowing APR into the spreadsheet as my claim jumped from £1936 to £6351! - Think I may just stick to the arranged APR to keep under the £5k limit

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I'm not sure what you are using to calculate the interest but it looks rather high to me!

 

As far as I can gather from reading other threads, (I haven't claimed any interest myself) you can only claim the interest on overdraft if it was their charges that made you go overdrawn, this is why I haven't claimed any because my account, like yours 90% of the period was overdrawn anyway. you can however, at court stage, claim the 8% which is what Court say you are entitled to claim for any money that is owed to you.

that is a separate issue altogether.

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I'm not sure what you are using to calculate the interest but it looks rather high to me!

 

 

Well the unarranged APR I have is 29.5% and most of my charges occur at the beginning of the 6 year period which I think is what has caused the large amount of interest.

Thinking I might keep things simple though and just claim for the charges only and then the 8% should it get that far

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You can claim contractual if you wish, search around the site for more info however as stated in the self help material you cannot add interest until you file a claim at court.


Ex CAG helper ^_^

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You can claim contractual if you wish, search around the site for more info however as stated in the self help material you cannot add interest until you file a claim at court.

 

From what I've gathered from reading the site, it's only the 8% that has to be added when/if gets as far as court, my understanding was that if going for contractual interest it has to be included from outset?

Just want to make absolutely sure before firing off prelim letter, does seem to be a lot of information on site, but no definitive answer

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From what I've gathered from reading the site, it's only the 8% that has to be added when/if gets as far as court,

Correct

my understanding was that if going for contractual interest it has to be included from outset?

 

Correct. You cannot claim both contractual and s69 8%, one or the other. However if you claim contractual, in your Particulars of Claim you can claim s69 8% in the alternative ie if the judge rejects your contractual arguement.

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not 100% sure but i think you addcontractual interest at the start of the claim, (if claiming) then you add the s69 8% interest when you file your claim.

i am not claiming contractual interest but filed my claim 2 days ago with the added s.69 8%


:)I am not an expert at this, any advice i give is from reading posts on this site, its all in here somewhere :)

 

:) If i have helped please click the scales:)

 

NatWest Settled 16th february 2007----£3902.67 All charges, costs and s.69 interest

 

MBNA- S.A.R - (Subject Access Request) sent 25th March 2007

MBNA missed deadline, LBA for SAR sent 8th May 2007

CCA request sent 8th May 2007

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Well i've just got my prelim letter together, used one of the templates so have assumed its fine to get sent off straight away without any amendments (other than my details obviously!).

 

I've had to make-do with the authorised overdraft rate though as the unauthorised rate would push my claim above £5k, handily though I have just noticed that Natwest will be increasing there overdraft rates as of 2nd Jan so will hang fire till then :D.

 

I was amazed how much this contractual interest contributes to amount of claim, more than 100% of the actual cost of charges in my case!

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Just about to get my prelim letter sent off, and then in the post this morning came a letter from them telling me they intend to charge me another £28 at end of January for going over my limit by £1.15 couple of weeks ago.

 

Should I include this in schedule of charges even though it is yet to be charged? Or can I amend the charges I am claiming once they have applied it to account as it will inevitably drag out past this date?

 

Cheers

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Send what you've already done, you can amend the amount you wish to claim right up until the point of submitting your claim through the courts, so you can add this and any other charges later!!


IF MY COMMENTS HAVE HELPED PLEASE CLICK MY SCALES

 

Don't be like the banks - give a little back

 

 

:D NAT WEST - WON - £4282.36:D

 

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Well my prelim letter went off on 8th Jan, just got this reply...

 

Dear Jimbob,

Thank you for your letter dated 8th Jan 2007 regarding charges applied to your account.

We are currently considering your claim and will respond to you as soon as possible.

 

Yours Sincerely

Stuart Higley

 

So my LBA is now printed, signed and ready to go on Monday

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Don't let them dictate the timescales, it your claim so you decide on the deadlines.


IF MY COMMENTS HAVE HELPED PLEASE CLICK MY SCALES

 

Don't be like the banks - give a little back

 

 

:D NAT WEST - WON - £4282.36:D

 

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Yep, too right.

 

It appears that Natwest are a bit bogged down a the moment everybody....aaaahhhh;)


:DSUCCESSESS:D

NATWEST01&02 won over 4k

See how

http://www.consumeractiongroup.co.uk/forum/natwest-successes/31683-muggins73-natwest.html

 

:)CURRENT CLAIMS:)

HALIFAX03

19-SEPT-07 APPLICATION TO HAVE STAY LIFTED

02-OCT-07 APPLICATION REFUSED

LLOYDS TSB04

10-MAY-07 LBA

 

ABBEY05

19-SEPT-07 LBA

 

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Result!! Got a letter today from Mr Higley to offer a settlement of all my charges I was claiming for, £1980 in total. Only sent my prelim in 2 weeks ago so I think the bank must be getting inundated with these and are just caving in early.

 

I was claiming for contractual interest as well but am more than happy to just accept this settlement with the state my finances are in at moment, will relieve a huge amount of financial worry, and cant really afford to wait the inevitable couple of months to take this right to the wire and get the interest also.

 

Interesting to see on the letter though that they are now making out that these arent actually penalties, but a charge for a service.

 

Anyway, case settled, on to the next one!

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Congratulations, is the interest included?

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Congratulations, is the interest included?

 

No, but I'm more than happy with this settlement, if I could currently afford to delay settling this to hold out for interest I would, but cant so will accept this offer

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No, but I'm more than happy with this settlement, if I could currently afford to delay settling this to hold out for interest I would, but cant so will accept this offer

 

Well good for you. Its so nice to see people getting their cash back.

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Well good for you. Its so nice to see people getting their cash back.

 

Thank you! It is, never thought i'd see something inside of 3 weeks from starting though!:D

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Thank you! It is, never thought i'd see something inside of 3 weeks from starting though!:D

 

From what I've seen, some people do get a offer without including interest pretty quickly, its when we fight for the unjust riches they're accumulating on our monies (interest! amongst other things) that they start to draw it out :mad:

 

Certainly a result, and you should be proud of yourself!:D

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Fab News...well done


NatWest

Data Protection Act Letter - 06/08/2006

Statements rec'd 14/9/2006

Preliminary Letter sent - 27/9/06

LBA - 18/10/06

Claim with Court - 31/10/2006

Got until 14/11/06 to acknowledge.

7/11/06 Received ltr offering full settlement minus

interest + court costs

12/11/06 - Rejection sent

17/11/6006 - Natwest Acknowledged

4/12/06 - Rec'd Natwest Def (Cobbetts)

5/1206 - Rec'd partial offer (Cobbetts)

THE WOOLWICH

Data Protection Act Letter - 06/08/2006

List of charges rec'd - 04/9/2006

Prelimary Letter sent - 06/09/2006

Response - 'fully investigating' - 11/09/2006

Claim with Court - 20/10/06

Acknowledged - 20/10/2006

Defence by 17/11/2006

AQ to be returned - 11/12/2006

Court Date - 14/02/2007

**SETTLED IN FULL**

CAPITAL ONE

**SETTLED IN FULL** 3/11/06

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Result!! Got a letter today from Mr Higley to offer a settlement of all my charges I was claiming for, £1980 in total. Only sent my prelim in 2 weeks ago so I think the bank must be getting inundated with these and are just caving in early.

 

I was claiming for contractual interest as well but am more than happy to just accept this settlement with the state my finances are in at moment, will relieve a huge amount of financial worry, and cant really afford to wait the inevitable couple of months to take this right to the wire and get the interest also.

 

Interesting to see on the letter though that they are now making out that these arent actually penalties, but a charge for a service.

 

Anyway, case settled, on to the next one!

 

Fantastic news, well done.


:DSUCCESSESS:D

NATWEST01&02 won over 4k

See how

http://www.consumeractiongroup.co.uk/forum/natwest-successes/31683-muggins73-natwest.html

 

:)CURRENT CLAIMS:)

HALIFAX03

19-SEPT-07 APPLICATION TO HAVE STAY LIFTED

02-OCT-07 APPLICATION REFUSED

LLOYDS TSB04

10-MAY-07 LBA

 

ABBEY05

19-SEPT-07 LBA

 

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