Contractual interest them and Us.

[progenic7]

Just sat here thinking about my various battles that are about to ensue, and i have just had a thought. (be careful now)

 

Thing is if say the banks or MBNA for instance are charging 27% or 23% or whatever the current rate is on unauthorised borrowing. Well that their rate not ours.

So though im sure this hasnt been tested anywhere, i think that maybe we have an argument for charging Our own rate of interest on their unauthorised barrowing (theft as you will)

What i mean is if your owed £1000 back then why not charge them 40% on your own money, or any figure you want.

At the end of the day they had no right taking the money and just because they may charge 23%, that doesnt mean you have to or does it ?

By the fact they have charged you over the odds makes their contract null and void. And as many have mentioned if i said i was going to kill you if you didnt do something and i did it, doesnt make it legal now does it.

 

i think we have an argument for this, i'll be looking into it further anyways...

 

anyone have any thoughts on this ?

[gemspan]

Hi there

 

I personally wouldnt charge anything over the rate that they charge us. The reason for that is that it could be deemed to be greedy and a judge would not look favourably on that if the case went to court.

 

I am not trying to make money out of this process; I simply want to take back what is mine including any interest they have charged me ie contractual interest, if I chose to go down that route.

 

By adding an interest rate that is extortionate I would say you are undermining the validity of this site and the great advice it gives people like you and me.

 

Stick to what you know is fair, reasonable and honest and dont try to get too adventurous because it may just come back to haunt you.

 

Just my thoughts!!!

[progenic7]

lol

yeah your probably right just wanted to hear that from someone else

 

nice thought though