WhatMoney -v- Lloyds - So **WON** (in court!)

[GaryH]

Am I right in thinking that as they've now said they're defending the CI, that they won't be arguing over the main body of the claim in court? i.e: the interest they still owe me?

Not sure I totally understand the question? No, presumably the charges aren't an issue anymore - although that'll depend to a certain extent on the judge. He'll probably get you to iron out a settlement which will likely be charges + 8% + fees. As you've got a genuine reason for going to court anyway then it won't do any harm making a case for CI, but as we've discussed before I personally don't think you've got much, if any, chance of getting it.

 

Yes, you can certainly still make a case for costs - the fact that they've severed your claim at the last minute to pay a section of it after months of posturing only re-inforces your allegations of unreasonable conduct IMO.

 

Good luck - let us know how you get on.

[WhatMoney?]

Yes, that's what I meant, thanks.

 

Good to know I can still claim costs!

 

As I said before, I don't expect to be awarded CI, but I think it's worth a try plus, tbh, I'd quite like to see what the judge thinks of my arguments for it.

 

I'll post to tell you all how it went...

[WhatMoney?]

My brain feels a bit addled, so I won't go into too much detail just now, but I won!

 

No chance to speak to the barrister beforehand, so into court. Explained that I was claiming back the interest the bank had taken off me as well as the CI. Somehow it took ages to clear up which was which with that.

 

The barrister, poor chap, hadn't been given very much info, and the judge seemed to be a little tired of these cases! I think, though, that the judge was relieved not to be looking at the matters surrounding the charges themselves, but just at my entitlement to interest.

 

The banks' line was that they had chosen to repay my charges as a commercial interest (not admission of any wrongdoing) and were therefore entitled to keep the interest I had paid. The judge was of the opinion that the repayment of charges suggested that the money was taken "erroneously", and that the interest should be repayed.

 

However, he did not feel I should receive 8% interest on that, as that would be interest on interest. Also, had I had that money in a savings a/c, for instance, I would not have been able to receive that rate of interest.

 

Basically, that I should be returned to the position I would have been in had the charges not been taken, but that I should not make any profit.

 

So, I'm slightly down on what I expected (I must admit I didn't expect that much trouble just getting back the interest I'd paid!), but only by about £30. I didn't submit my costs order as I was feeling quite overwhelmed that point, but I intend to do that later this week (I understand I can do that?)

 

But the point, which occurred to me when I was nearly home, is that I won!! The judge found in my favour that Lloyds should repay the interest, when they actually sent someone to court to defend it. So I'm happy.

 

I now have spending money for my holiday (first holiday since 1996!)

 

xxx

 

(will make a donation when I receive the rest of my money)

[jowalshy]

Well Done....congratulations.

 

:d :d

[GaryH]

Great!! Well done WM, congratulations!!!!

 

Shame you did'nt get any interest, but this highlights the fact that even the 8% SI is not an entitlement (let alone CI) - as you found out today interest is solely at the discretion of the court. A lot of people don't realise that.

 

Very well done, enjoy the money. I'll change your title for you.

[nicsussex]

Congratulations - well done

[who]

Well done that man!!!!. It gives me great hope for my claim. All the best. Who.

[captable]

well done.

a well prepared and well fought case.

i only hope i can be as thorough if it gets that far with my claim.

 

best wishes,

 

captable.

[BARTY]

Congratulations!! :D

Well done!

Barty:)

[WhatMoney?]

Thank you all!!

 

I'll post again tomorrow with some more info, but I really appreciate your support. Gary; thanks very much for your advice and reassurance when I started to stress, it was much needed and appreciated.

 

TTFN,

WM xxx

[RCR50]

Well done Whatmoney!!

 

I am sorry that you did not receive any interest though...but congrats!

 

I have possibly shot myself in the foot I feel....I am claiming contractual 18.9% but in the alternative - at the courts discretion (because they took my money unlawfully) unauthorised, I did not mention 8% at all....and they are defending the whole amount....maybe I will end up with no interest whatsoever as well.

 

At least all the stress is over for you....I hope that you can treat yourself with the settlement.

 

Best wishes