Telewest v RBS **WON**

[telewest]

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[HydraUK]

An auspicious start, hopefully! Nice one.

 

Lot's of branch staff not in management are very helpful, I mean they work for the pirates and I imagine that they are having a chuckle seeing the employers getting stung (well I would if I was them). Hence the helpfulness and the 'Oh don't bother about the tenner wink wink' attitude. lol

[isidore]

Don't be surpised to see a historic statement charge on your bank account. What the branch say and what the bosses do are two different things.....

 

Might be being cynical but whose fault is that?

[telewest]

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[isidore]

hey tele, this thread should help you out, still stuck, ask away.

 

As for the address, I used the Customer Relations address which I don't know off the top of my head. You could check the contacts sticky at the top of the RBS forums or find it from contact us on RBS website.

[telewest]

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[isidore]

those calculations don't seem to add up.

 

Have you just added all your interest amounts up, or have you got that from the spreadsheet?

 

Your chargeable interest must be a small percentage of your charge amount - it could never be larger.

[telewest]

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[isidore]

Now as the claim won't go to court, so won't have the chance to add on the 8% Im better off using the compound interest rather than the statutory? JUst a bit hesitant as I rarely see posts not statutory

I would think if you claimed contractual interest it most definitely WILL go to court!

[HydraUK]

There's a thread somewhere I read in last couple days where the bank (not RBS tho I think) was defending contractual interest by saying an individual couldn't claim under the principles of mutuality and reciprocity..

 

I'm sorry but I'll be b*****d if I can find it now....I'm having that sort of week.

 

I'll keep looking

[telewest]

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[isidore]

If it doesn't go to court though, you won't get that!

[telewest]

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[isidore]

No not both.

 

You need to either decide to go up the normal route (ie stat 8%), most likely be settled early and receive no more than your charges, or go for compound, and more than likely go to court.

 

Think I'm confused now too......

[telewest]

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[HydraUK]

As T4FF says, you either claim the stat 8% which is awarded by the Judge at his discretion (but it seems they always do) AFTER judgement, which means if the bank settles before that (it seems THEY always do too) THEN YOU WON'T GET ANY INTEREST.

 

If you claim contractual, this gets added to the claim BEFORE you go to court and is more likely to get the bank defending...certainly attempting strikeout, so it will then come down to the strength of your argument.....

[telewest]

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[isidore]

Thks Hydra - was getting confused as the Prelim includes an addition of interest.

 

The interest referred to in the prelim is overdraft interest. I.e. the interest you get charged on a monthly basis for being overdrawn. Your able to claim back the percentage of interest that was accrued against your bank charges after your interest free overdraft is taken off.

 

For example......

 

OD £300

Int Free OD £100

Bank Charges £50

(Debit) Interest £10

 

Chargeable OD = £300-£100 = £200

Percentage of OD made up of charges = £50/£200 = 25%

Percentage of charges reclaimable = 25% of £10 = £2.50

[HydraUK]

OD £300

Int Free OD £100

Bank Charges £50

(Debit) Interest £10

 

Chargeable OD = £300-£100 = £200

Percentage of OD made up of charges = £50/£200 = 25%

Percentage of charges reclaimable = 25% of £10 = £2.50

 

 

And this is a MINEFIELD, I didn't even consider it...too complicated for my uncomplicated northern brain

[telewest]

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[isidore]

The spreadsheets do all this for you though?

[HydraUK]

Even with £1300 overdraft interest didn't want to stray into that minefield either !

 

I think, personally, if my unauthorised overdraft interest was over the £1k level I might consider claiming.

 

But are you sure thats right? £1.3k in unauthorised overdraft interest? Sounds a lot unless you already have a high authorised limit and still exceeded that often...

 

If it's £1.3k TOTAL overdraft interest you might find the unauthorised element isn't as high as you think - and as my esteemed colleague T4FF points out - the template spreadsheets can help with this.

[telewest]

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[telewest]

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[telewest]

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