6+ Club

[TINK660]

I have now decided to pursue Nat West for charges on a business account we held with them mid 1990's to 2000. I have totalled the charges to approx £3400, however if and when the 8% is applied it will take the claim to over £5000. Does this mean I cant take it through the small courts? I already had statements (probably not all of them as I can only find back to 1998, but as this is a substantial claim anyway I am not too worried about any before that date and really cant be bothered to go through the hassle of asking for them).

I have been reading Matheos thread which is spurring me on to go through with it, but a couple of questions:

1. Is the prelim letter the same or do I have to modify it for over 6 years?

2. Should I make the claim slightly lower so that it comes in below £5000 (after 8% interest)

 

Probably going to need a lot of help with this one ... lol

[orfoster]

Nah i wouldn't lower the claim but i would split the claim eg 1998-2002 then 2003-present so that should bring it under the £5000 per claim.

 

Have a look at these and this should explain more about the over 6 years claims:

 

http://www.consumeractiongroup.co.uk/forum/lloyds-bank/54548-could-biggest-claim-site.html

 

http://www.consumeractiongroup.co.uk/forum/general/3598-do-you-have-charges.html

[Rooster-UK]

Hi Tink.

 

Over six years and you are dealing with the statute of limitations, so don't worry about the size of your claim, because the case will probably go into fast-track anyway. The bank will almost certainly defend the case and if you lose, you may have to pay the bank's costs.

If you want to go that far back, it's a chance you have to take.

It's doubtful if the bank would settle before court on a claim like this.

 

That's my opinion. If anyone knows better then please post.

 

Best of luck.

Regards, Rooster.

[TINK660]

Thanks for your help Orfoster and Rooster

Must admit I am finding this one a bit daunting (even MCOL to me is daunting!) but I truly believe that Nat West was the cause of our financial problems, once you get on that slope it is very slippery. With the best will in the world you cannot get customers to pay until they are ready to do so, so you can never run an account the way you would want. Nat West kept us at an unreasonable overdraft limit, presumably to milk us for all we were worth with charges - sometimes as much as £137.50 a day (next 2 days work just to pay charges!!). So 8 or so years later we are still fuming although the money back will be great its the principle more than anything else that pushes us onwards. If we have a big fight on our hands so be it! This site is great, it gives people the power to fight back.

[TINK660]

Do I have to modify prelim letter for this claim .... anyone plssss?

[TINK660]

I'm a bit confused over the compound contractual interest. I have got halfway through calculating my charges including cci at 29.5% using Vampiresses spreadsheet No. 2, so far the charges are £1360, but the interest is £13184.81 (at this rate by the end of my calculations this figure is probably going to double in size) My question is do you calculate cci up to todays date or the date that the account was closed, which was 2000. And does this sum sound about right to anyone, to me it seems a hell of a lot of money. I am calculating interest at their highest rate, I think their standard rate was 12% at the time.

 

I also came across a few organisations that will claim charges back for you (for 25% of claim) on a no win no fee basis, but they will not touch "over 6 years" claims or compound contractual interest. I sent them an e-mail just to find out, as this may prove too big for me to handle. Also they made clear that pursuing a "+6 year claim" would leave the claimant with a huge legal bill should they not win. I must admit I am getting a bit twitchy now, especially at the size of the claim this will be.

 

Any thoughts anyone.

[TINK660]

Bump

[TINK660]

Any thoughts anyone????

[RobberBank]

do you calculate cci up to todays date or the date that the account was closed, which was 2000..

 

 

They've had your money since then, so you charge them interest up to today.

 

I'm not sure how this fits with it being over 6 years as far as your claim goes, but the interest element is up to today. It'll be a huge sum, but that what high interest does, in the same they they'll have charged you if you had that amount overdrawn for that period of time.

[TINK660]

Thanks Robberbank

Your right this is going to turn out to be huge, its more than a bit scary, I really need encouragement on this one as the general advice from companies that will claim back for you (for a 25%) fee seems to be that I wouldnt have a hope in hells chance of winning such a claim due to it being over 6 years and adding contractual interest. I havent taken the plunge yet but when I do I will need all the help I can get.

[RobberBank]

I think i'm busy that day!!!!!!

 

Seriously, it will be a tough ask, i'm not involved in a claim over 6 yeasr so cant really help but i know others with more experience of your situ will be here to help you as and when.

 

Good luck.

[TINK660]

As this one is worrying the hell out of me, I have been looking around at companies that will do the legwork for you (for a charge of course). I came across edited.

This is the only site that I have come across that will attempt over 6 years for you and they charge 15% plus VAT as opposed to the usual 25% plus VAT. They are the only place I can find that will attempt pre-6 years.

I would like to do this claim myself but as it is going to be a very large claim and I dont really feel confident about it (plus being a coward of course) I must admit I am considering it and I waive between "shall I of shan't I"!! Somehow, I feel a bit disloyal even considering them as I know I can get so much help from this site. Has anyone used them and if so, what are your experiences? They state that they have claim for someone with 21 years worth of statements and they operate on a "no win, no fee" basis.

 

please observe site rules about the posting of commercial links.We do not endorse in any way paying others to do something that is effectively easy to do yourself.We have quite a few on this site who are claiming back pre-6 years and a lot of info to help to do this.

[TINK660]

Gosh, I'm sorry I didn't intentionally mean to break site rules. Acccept my apologies plssss?

I appreciate your comments and take them on board - its just that this one I dont want to lose as it will be big and I just dont feel confident enough with a pre-6 year claim. I have never got past LBA stage yet with any others (found them to be easy enough). Perhaps I'll just sit on this one for a while until 1 have more experience. I must say I have found the advise on this site invaluable and do not want to offend anyone.

[Guest Battleaxe]

I have started my 6 + years claim against Alliance & Leicester. Just follow the thread regarding 6 year claims. You are more than welcome to follow my thread The Smiths v A & L second bite. Just wait your time read up and you will feel confident to do this. Enough of us are out here to help you

[TINK660]

Thanks Battleaxe (why do I feel that I'm insulting you, lol)

I am going to sit on this one for a while until I feel more confident, and I will watch your thread with interest.

Does anyone know if there is a specific thread for claims over 6 years, including people that have won?

Thanks

[TINK660]

Has anyone claimed for over 6 years with Nat West and won?

[Josamolly]

Not sure to be honest but i have a claim currently at the N1 stage, but this is just a normal claim.

 

However, my next claim will be purely a 6+ years claim, from 1990 - 2000 with contractual.. Have jus sent my SAR off..

[Parkvale]

TINK660

i have a claim in at the moment for over 6 years .Luckily i found some letters from Nat West proving that i had complained to them in 2002. Hoping this will steer me around the limitations act. Have a look at this thread it's very interesting.

http://www.consumeractiongroup.co.uk/forum/general/60534-beyond-6-years-4.html