Ros v Alliance and Leicester *SETTLED IN FULL*

[Ros2710]

Well I just posted off my Preliminary letter or £1870.(fees no interest)

 

I was a bit confused though re interest - Reading seems to indicate you don't claim the interest on his letter , but should I have shown it on the spreadsheet I sent detailing charges? I have worked the figure of 8% but didn't put it on the paperwork.

Will I lose this?

[Michael Browne]

Reading seems to indicate you don't claim the interest on his letter , but should I have shown it on the spreadsheet I sent detailing charges?

No, so what you've done is correct.

[Ros2710]

Thanks very much. Ive read so much about all different types of interest this last few days.

I'll just take my chances . P'raps it will go to court so I can add on the 8% . Whichever way it goes, its money gained 'cos I nver thought I'd have the chance to get it back anyway

I know that's defeatist :o

[photoman]

Ros, Come to take a peek at your thread.

Regards interest. Take a look at this thread.

http://www.consumeractiongroup.co.uk/forum/general/18313-why-no-one-claiming.html

 

This explains about Contractual interest, the reasonings, the amounts, and how to do it.

Basically, the Court claim procedures state that the Statutory 8% added at the court claim stage.... "is there to claim as an alternative, if there is no other rate stated in your contract" (something to that effect, but maybe not in exact words) .

We all do have contracts, that state interest rates for borrowing. Now, as contracts by UK law have to be mutual (ie, cannot favour one party unfairly over the other) we can also charge that same rate to them from the outset, and it would be awarded regardless of whether it goes before a judge or not.

In order to do this, you enter your charges in the spreadsheet titled "compounded contractual Interest", and enter the overdraft interest rate at either the authorised or unauthorised the bank charged you, (read the contractual interest thread to decide which). This then calculates the amount, and adds it onto your claim.

You then enter this sheet with your claim, with this amount IN FULL, from the outset (with it broken down into charges and interest, and the reasons why you are charging that rate, which the thread above will provide you with). This is the amount you are asking for, and it is a LOT more than the statutory 8%.

It is upto a judge in court to decide if this is actually allowed in the basis of law and correct, but when you fill in your actual court claim papers, you can put in your particulars, that he/she consider some of the options in the alternative if he/she thinks your initial claim is unallowed or incorrect.

Remember this is only decided by a judge, in court, not by the bank. And as no claims have ever actually gone to court yet, then the chances are you will get the full amount you ask for (but do not presume that it would not go before a judge, there is still a chance. So you do have to be prepared with all your reasonings and arguments, which you can get on this site).

So....In short. In you want to go down this route, Do all your calculations again with the contractual interest, and submit a new prelim. It is not too late.

If you do change your claim in this way, you do not claim or get the 8% statutory on top as well, remember, (referring my above) this is awarded as an alternative to the 8% !!

[Ros2710]

Hi there - thanks for your 'interest' in ny case.

I have reAD

[Ros2710]

sorry - pressed wrong button. I have read so much I have confused myself even more.

I have been advised to claim 17.09% which is the current rate. I m going to attempt to try this on Vampiress easiest spreadsheet for contractual interest (I'm new to these 'virgin' on computer stuff) .

wish me luck

Ros

[Ros2710]

Hi

 

I finally sorted out amount of charges past 6 yrs (£1870).

 

However I didn't understand difference between statutory and contractual interest so sent off my prliminary lttr 3 days ago(7/1/07) with no amount for int.

 

The penny has now dropped and the extra amount of contr. int due is around £1400 .

 

Should I wite withdrawing the 1st claim and sending a fresh one, or should I amend the original one?

 

Thanks

[Ros2710]

Hi there

Well I think read everything I should have and have explored forums (althouh this is all new to me) and I've just taken the plunge andl I've just sent off my prelim letter for £3270 which included contractual interest at 17.08%.

I decided not to go for the unauthorised O/D rate which is far higher.

 

Has anyone claimed the higher rate and won yet?

 

I have still got another claim to do with Baclays which isn't quite so much, aroud £1200 basic charges without interest. I'm not sure how to tackle that.

I'm hoping you'll be able to guide me through the next stages

 

Thanks

 

Ros

[Ros2710]

Anyone there? feeling lonely.....

[2hapennys]

hi Ros

I sent my first letter off last week for over £5000, and i got a standard fob off, my lba was sent on saturday, so i will let you know how its going...............I bet it ends up going to court, it seems thats the why A&L seem to play

[Ros2710]

Seems we are at the same stage. I received a 'no can do' letter the other day, very quickly.

I wasn't sure if I can send LBA now, or should I wait 14 days?

 

Have you claimed contractual interest? I read so much stuff on it and decided to try. I only did standard rate (17%) and not higher one.

Took my claim up to £3270.

 

I'm also starting a Barclays Claim - sending off my prelim tommorow.

[2hapennys]

Hi Ros

i took advise from the money saving expert forums, no one replied to my posts on here either! And I posted it a few days after, although i will wait the full 7 days I gave them in my LBA before i start my MCOL. I have not included any interest on my correspondence yet, that would take it to nearly £7000, but i will include it in my court claim, but i believe I may have to slpit it due to the ammount being on £5000

[Ros2710]

I think if you are only going to use the S69 8% rate thats OK.

But I used contractual interest at 17%. I read that if you are doing that it shuld be on you initial prelim letter

[Ros2710]

Sent my LBA off yesterday. Time is ticking !!!!!!!!!!!!!!!!

[blue.pricey]

Hi ros at same stage as you received the no can do letter on tuesday do you not have to wait the 14 days after you file your prelim letter if they reply to you early cheers pricey

[soapygreen2412]

u will get the same letter in about 4 days same as the response to your prelim letter, i got that one too!!! i sent my court claim 18 jan 07, so heres hoping the chq is on the way. my claim doesnt have contractural interest on only the 8% S.69 interest and it too it upto 5 pounds short of 3500. well we will have a nice easter wont we!!!!

[Ros2710]

Thanks . I have sent off my LBA yeasterday and will wait see what they say. I'm sue I will have to take it to court. Have got a small claims form N1 for when this happens, but is is as good to do a MCOL?

[Michael Browne]

N1 has the advantage of unlimited space for POC's and you can attach your schedule.

[Ros2710]

Just had a leter from Alliance giving me a phone number they want me tocontact. Realy don't want to phone them - would rather conduct business by letter .

Any Advice please?

[SweetCal]

everything I have ever read says do NOT enter into phone cpntact as you have no proof of what gets said. Personally I would write back or even fax them for speed to say you are keeping a record of all communication and would prefer to keep it all in writing.

[Ros2710]

I am about to complete N1. I have claimed contractual interest. So as I can't claim the 8% , I presume I just leave it off the description of the interest on the N1 template ?

[Michael Browne]

You can claim s69 interest in the alternative:

 

Defendant charges interest to the Claimant, via the Account, at its published “unarranged overdraft rate” of XX.XX%. The Defendant claims that it is entitled to charge this rate, by virtue of the Terms & Conditions.

 

 

The unarranged overdraft rate is charged to the Claimant, via the Account, when the Claimant draws money from the Account whilst she has not obtained permission from the Defendant for exceeding any overdraft limit that she has. It is in effect, a rate that the Defendant charges the Claimant when she draws funds from the Defendant when she has no right for doing so.

 

Using, that reasoning and maintaining the principal of equity, mutuality and reciprocity between the parties, the Claimant contends that she is entitled to an equal rate of interest in this case. The Claimant notes in particular that the Defendant erred in law, had no legal right to levy the charges to the Account and refused to refund the Charges when asked to do so by the Claimant.

 

 

If the Terms and Conditions form part of contract between the parties hereto then there is an implied and/or imposed term of contract that the Defendant must pay the Claimant at the same rate of interest which it reserves for itself, in similar circumstances. If no express contract exists between the parties hereto then the Claimant contends that an implied and/or imposed contract exists between the parties hereto relating solely to the Claimant’s right to charge interest to the Defendant at the rate which it reserves for itself in relation to similar circumstances.

 

 

In the alternative,should this court not find that aforesaid implied and or imposed contractual term does exist, Claimant claims interest pursuant to s69 County Courts Act. Interest, in that case, up until xx/xx/xx amounts to £XXX, as detailed in Schedule B attached hereto. Interest per day thereafter, or part thereof, is £0.XX

[Ros2710]

I am about to complete N1- here goes!

[Ros2710]

Thanks Michael - great advice.

[blue.pricey]

good luck have you gone through moneysave or local court am in the same position as you and will have to file next friday if i don't hear anything