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Zyrax

Can I claim for this?

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Im aware I can claim for things like direct debits bouncing, however after looking at the list of charges I got back from Abbey, there are a few I dont know if I can claim for. Mainly

CLEARED TRANSACTION £20. Charge.

This appears 4/5 times and I dont know what It refers to. Can I claim?

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It's when they decided not to bounce a payment but charged you £20 for the priviledge. Claim it.

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Cheers. Well in total my claim is around £750. Ill be sending that off soon.

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One final query. I am using the spreadsheet for the list of charges. However one thing I need clarification on. The interest. The interest rate is 8%. What I know about interest isnt worth knowing however because of this, my claim went from 500, to around £750. I dont want to overclaim. Is that right?

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Can't say without knowing the dates of each charge. For example, if the charges were all in 2006, £250 is too much; but if they are from 1985-1995, then £250 will be too little. If you tell me the total and the period of the charges you are claiming I'll give you a ballpark figure (take about 5 mins). If it's close, you can relax, you'll have done it right. If it's very different, you'll need to get further help. Regards, Mad Nick


Abbey £8370 settled 17 Apr 07

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Zyrax, I got £124.55 @ 8% Statutory interest and £307.62 @ 16.9% contractual interest (Abbey's authorised overdraft rate which I've been using in my claim). Regards, Mad Nick

 

Later thoughts

  • I assume your original £250 was a red herring and should have said £122 as per your s/sheet.
  • The difference to my £124.55 is small, but it isn't just down to different dates of us doing the calculations. I get slightly higher interest for your older charges and slightly lower for your later charges. Up to you if you want to pursue it, but I'd need to know what formula you spreadsheet is using. In the big picture (ie Abbey will be looking to settle out of court) it probably doesn't matter.


Abbey £8370 settled 17 Apr 07

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Thanks for that. One final question which Im sorry if it has been asked alot.

Is there a chance abbey will take me up on my offer on taking them to court? Or do they ALWAYS settle?

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So far, they've settled before Court. But safest to assume they would go to Court - be prepared.


Abbey £8370 settled 17 Apr 07

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Thanks. One final issue. On the Introduction to bank charges guide, it states:

Do NOT include the 8% interest on the schedule yet - you only include this if you have to go to court.

 

Yet in the template letter it states:

I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .

 

So Im confused as to which to leave in/out.At the moment my letter contains the interest but the charges sheet does not.

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Thanks. One final issue. On the Introduction to bank charges guide, it states:

Do NOT include the 8% interest on the schedule yet - you only include this if you have to go to court.

 

Yet in the template letter it states:

I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken. Total £XXXXX .

 

So Im confused as to which to leave in/out.At the moment my letter contains the interest but the charges sheet does not.

 

Hi from what I have read of your thread you are not claiming the overdraft interest so omit this from the claim and just ask for the charges. Unless you are claiming the contractual rate then this needs to be included on the prelim approach. Hope this helps


 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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Thanks. Ill omit the interest. Shame, it did add an extra 100.

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Thanks. Ill omit the interest. Shame, it did add an extra 100.

 

 

Have you got £100 worth of overdraft interest that is a direct result of charges? remember you can only claim for the amount of interest that is directly due to a charge.


 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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Ah I get you. I will play it safe and leave it off. I dont want to overclaim. Thanks :)

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Ah I get you. I will play it safe and leave it off. I dont want to overclaim. Thanks :)

 

;)


 

 

 

 

 

I am not a legal expert my advice is given without prejudice and is purely my opinion only. If you are in doubt please seek professional advice.

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