Posh's bloke v Nat West

[posh23]

Just posting to say I am sending off a letter to Borehamwood today by recorded delivery which I have prepared for my bf. He has kept all his statements, so we were fortunate in that respect. He is claiming £4060.67 which includes contractual interest at 29.6%, and I have used Mindzai's fabulous spreadsheet to work that out for me!

 

I will update this post when we have received a response.

 

This is a brilliant site, there is so much to read, and so many positive stories, and I hope we will be one of those too. 'When' we win, I will make sure that my bf makes a donation.

[katesage]

Hi Posh

 

Welcome to the forum:)

 

I wish you loads of luck with your claim, I fought and won against Natwest last Nov, got back over 4k. On your amount and with contractual interest, it is highly likely they will defend your claim, so do lots of reading up on the litigation stage of the process.

[posh23]

Bf has received a letter from 'Ming' today although it was dated 15th February, offering him a full and final settlement of £953, which is his charges only without interest.

 

We are inclined to accept this as a partial settlement and pursue the remainder. However, we were due to send the LBA on Monday 26/2, so although I have spent several hours reading other threads this morning, I cannot see if we should give them another 7/14 days to settle in full, or whether we go for a combination of a partial settlement letter and an LBA or if there is another option?

 

Some guidance would be very much appreciated, if possible.

[sallysas]

I have read elsewhere that if you are offered a full refund it is advisable to accept as the courts will not be pleased with a claim disputing interest alone. This does seem unfair to me and means the banks etc give us no compensation - even the 8% would have been good. JMHO. It does make claiming contractual not so attractive dosn't it. I was looking forward to doing this with future claims. Hey ho, perhaps some will come along and say 'Sally, YOU ARE WRONG'.

[Bicester1]

Hi

 

If you have claimed contractual from the outset then you can stick to your guns BUT be prepared to go all the way at least to AQ stage and possible even a prelim hearing. You would probably get them to agree charges and s69 at 8% now but that is your choice.

 

It seems to me that NW is offering charges or charges and s69 but fighting contractual and then giving in at the end!

 

There is a thread with a recent contractual victory so if you have gone for it from the outset don't worry.

 

Bicester1

[posh23]

Thank you - we are also of the opinion that there is further negotiating to do so are prepared to go all the way if necessary.

 

However, that aside, I still am not sure whether I combine the partial settlement acceptance with the LBA on Monday, when I would have been issuing the LBA if the offer letter hadn't arrived today, or whether I again ask for the full amount and give another 7/14 days for them to reconsider before sending the LBA.

[Bicester1]

Hi

 

IMHO stick to your timetable. Acknowledge partial payment and send the LBA for the remaining amount.

 

Bicester1

[sallysas]

Thank you Bicester for these encouraging words. I will press on myself.

[posh23]

Thank you, having thought about it overnight, those were my final thoughts too. However, it is great to get those thoughts reinforced. I will compile the letter today ready to send off tomorrow by Recorded Delivery.

[posh23]

A slight change of tactic, as we have decided to try to negotiate a lower settlement at this point, so have compiled the following letter - would be grateful for any thoughts on this:

 

26 February 2007

Without Prejudice

Stuart Higley

Customer Relations

Nat West Bank

Ground Floor

National Westminster House

225 Shenley Road

Borehamwood

Hertfordshire

WD6 1TE

Dear Mr Higley

Request for repayment of charges

Account number: xxxxxxx

Thank you for your letter dated 15 February which I received on 24 February. I am pleased that you have entered into negotiations regarding the repayment of the unfair charges and interest levied from account from the period 12/11/01 to 1/2/07.

I am aware that you have already settled very many of these claims in full and undefended, including contractual interest at your unauthorised overdraft rate of 29.6%. In order to settle this matter speedily and without the need for you to incur costs by instructing your solicitors to handle potential court proceedings, I am willing to accept a lesser settlement of £2805.98, as shown on the enclosed schedule of charges version 2, in full and final settlement of my claim and interest. This figure is based on your authorised overdraft rate of 17.8%.

I am sure you will agree that this would be a mutually acceptable settlement, without the need to protract matters unduly.

Please reply within 14 days unconditionally accepting my request in principle and letting me know a date by which I will receive payment.

If you do not respond, or you do not respond positively, within this time period, I shall issue court proceedings to recover the full amount plus interest at 29.6% as per the original schedule of charges in my letter dated 8 February, however, I sincerely hope that this will not be necessary.

Yours sincerely

 

[The cobbett slayer]

Looks very good.

 

It has all the necessary points.You have shown that you are prepared to negotiate a settlement outside of the courts and it gives a basis for the amount you are requesting.

 

The only problem I can see is that as the letter is "without prejudice" you won't be able to rely on it in court should it get that far.

[posh23]

Yes, I wasn't sure whether to make all of the letter without prejudice, or just the paragraph relating to our proposed settlement. I noticed that on MSE Martin made one paragraph without prejudice when negotiating a settlement, and on here bicester1 made his full letter without prejudice.

[The cobbett slayer]

You could just insert an additional paragraph along the lines of

 

This offer is made without prejudice to my right to continue proceedings for the full amount of my original claim should you choose not to settle.

 

I believe that you could then carry on with your original claim and produce the letter in court but Natwest couldn't actually quote the amount you offered to accept.

[posh23]

Will do as you suggested - thank you!

[Bicester1]

Hi

 

Cobettslayer is right. I made mine without prejudice as I didn't want them to be able to use it against me, [suggesting to the court I was being greedy] if I went back to contractual, as I have done, since they tried to impose an agreement on me to accept all future charges, in return for refund of previous charges and s69 interest!

 

You can refer to the existence of previous negotiations in any statement of evidence. The judge may direct you to produce without prejudice letters.

 

Bicester1

[posh23]

Well, no reply to the LBA and their 14 days elapsed on Monday 12/3 so have waited a little longer 'just in case'! However, we now need to file the MCOL, but I am unsure whether having claimed contractual interest from the start, if I also add S.69 to the claim also. I seem to recall reading some time ago, that we can claim either contractual or S.69 but not both.

 

Would someone please clarify, before I start completing the claim?

 

Thanks in advance!

[Michael Browne]

I seem to recall reading some time ago, that we can claim either contractual or S.69 but not both.

 

 

Correct but you can claim contractual and then s69 in the alternative (if the judge disallows contractual). also don't calim via MCVOL, you won't have anything like enough room for the required contractual POC's

[posh23]

Thank you! I was just reading your Getting MCOL Right thread, so will do as you suggest once I have figured out where our local court is!

[Michael Browne]

http://www.hmcourts-service.gov.uk/HMCSCourtFinder/

[posh23]

Does it make any difference which county court I file the claim in? We live on the border of two counties, our legal address is Wilts but our postal address is Hants, so we could file it in either Salisbury or Basingstoke.

[Michael Browne]

Yes makes no difference which court

[posh23]

Thank you for your very fast replies!

[posh23]

Just to keep this thread updated. We took the N1 into our local court on 20th March and received the confirmation back today. The court sent it to the defendant on 26th March and it will be deemed to be served on 28th. The defendant has until 11th April to reply - fingers crossed they don't, as we haven't yet received a reply to our LBA.

 

Interestingly, as I approached the enquiries counter in the court, and said 'I have some papers', the woman said 'Is it a bank?' and I replied that it was. I then heard a colleague in the background saying 'Is it another one?'

 

Sounds like they have rather a lot!

[hedgey06]

Reckon we're jamming up the system............. or could it be that the banks are jamming it up??!! Good luck with the claim!!! Hedgey xx;)

[posh23]

Have received a letter from Cobbetts today with a copy of their Acknowledgement of Service, stating they will be defending all of the claim. So, by my reckoning, if they have 28 days to file their defence from when the claim was served (28th March), then this takes us to 25th April.