Abbey claim possibly over 5k?

[RichardN]

Not new to this bank charge reclamation stuff, having reclaimed all of mine, with huge thanks owed to this forum!

 

However, I am helping my mother through with hers and have run up against an obstacle I haven't encountered before.

 

Her charges add up to a rather large £4000+ which in itself is not a problem. However, anticipating that any offer will be ridiculous, and that she/I will be rejecting said offers, what do we do when it gets to the claim stage?

 

With APR at 8%, this will push the total amount being claimed over the 5k mark, and if I'm correct, will move it away from the court track I want to keep it in.

 

I've searched the forum but can't find anything on this problem - any advice?

[ijoseph]

Not new to this bank charge reclamation stuff, having reclaimed all of mine, with huge thanks owed to this forum!

 

However, I am helping my mother through with hers and have run up against an obstacle I haven't encountered before.

 

Her charges add up to a rather large £4000+ which in itself is not a problem. However, anticipating that any offer will be ridiculous, and that she/I will be rejecting said offers, what do we do when it gets to the claim stage?

 

With APR at 8%, this will push the total amount being claimed over the 5k mark, and if I'm correct, will move it away from the court track I want to keep it in.

 

I've searched the forum but can't find anything on this problem - any advice?

As i understand it the claim is for the £4k+ it does not take into account the 8% interest because this is not a fixed amount (ie it goes up by x% per day. When you fill in the initial MCOL or court paperwork there is some text that you add that in addition to the value of the claim you are also claiming statutory interest. If my understanding is correct.

 

 

If I'm wrong then just split the claim.

[Mad Nick]

ijoseph, if you go after the 8% Statutory, only the basic charges count for working out the Court fee and Track Allocation. If you go for contractual, then I think the Courts are still a bit confused - some people seem to have got away with excluding the interest but I didn't !! Regards, Mad Nick

[bish]

Hi RichardN

 

my claim was for well over £5k, yet abbey requested SCC. They thought that full disclosure was only limited to fast track, which is not the case. Any way the interest is not counted when allocating to track, so your claim is within the SCC.

 

Regards bish.

[RichardN]

Funnily enough, I have just finished reading yours!

 

Thanks for all your help people....