JulesRamone Vs Abbey and Nationwide

[JulesRamone]

Hi Everyone,

 

I'm at stage ONE, hoping to get back money from Abbey and Nationwide for unfair overdraft charges. I'm hoping it's going to be straightforward, as I've read all the FAQs and it seems the banks haven't got a leg to stand on. Hope it all goes off okay if I follow procedure.

 

I've just done the S.A.R - (Subject Access Request) for Abbey, and expecting a forty day wait for a response. Also, now I have a very small amount to claim from Nationwide. I'm sending a preliminary request.

 

Any tips and suggestions about getting refunds from these two banks would be very welcome.

 

Cheers,

JulesRamone

[sam78]

Have you sent the preliminary letter? This needs to go before the LBA. If you're requesting your statements first you'll need to send the DPA letter that's in the templates file and the £10 payment - it will take a while to get the information back as it seems there are a large number of people requesting this information at the moment - they have a maximum of 40 days to get it to you.

[JulesRamone]

Thanks Sam,

I'm beginning to get the hang of this. I realised after posting that thread that I'd missed out the first letter. Is there a template for the preliminary letter?

JulesR

[Bigmac versus]

Yes here it is, good luck.

 

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/671-2-letter-preliminary-approach.html

[JulesRamone]

Thanks George, much appreciated.

[JulesRamone]

3rd April update: just sent Abbey LBA; Sent repeat preliminary request to Nationwide, as first one went to a strange PO Box and didn't reach the right department, so I had to send it again.

[Bigmac versus]

Another step in the right direction and hopefully an offer to follow.

[JulesRamone]

16 May update: I'm just at the claim stage with Abbey. They have responded to the LBA by refunding £265 in my account a week ago. I'm not sure what to do next... Normally I went to the chat room and asked everyone what to do. Anyway... I'm assuming I have to make a claim. I'll have another look at the FAQs. Any pointers would be very helpful. Has anyone else made a claim against abbey?

 

JulesR

[JulesRamone]

Hello everyone,

 

Just putting in a claim tomorrow morning. They refunded a total of £315 in the last few weeks, but they still have a total of £1229 to pay me--so N1 form, after LBA was put in ages ago, goes into the county court tomorrow a.m. Now, I'm tryna work out the interest thing and realising I am obviously the thickest person on earth.

 

There are two kinds of interest you can charge, both at 8%. I've got the excel sheet going and it works out the daily rate of 8% with a nice list of the number of days since each charge and then the amount owed, calculated to the date on your computer. Smashing! So that adds up to about £210. Bingo! hurrah! Yippiyiyy kimosabe!

 

Okay so I've understood that, but on the N1 claim form it says that you can charge TWO types of interest. Unfortunately I am not the smartest! I have only one brain cell left after writing so many letters to so many silly banks. Here's the problemo: Quoted below is the list on the crib sheet given by BF for the N1 form.

 

Charges £yyy.yy DONE

Overdraft Interest £xxx.xx QUESTION

Interest under s.69 County Courts Act 1984 £yyy.yy DONE

 

I am assuming that the interest I have sorted out is the second kind, ie the s.69/1984 interest which is the one with the dates down the side and the number of days 'since the offence'. So, as I say, I've sorted that. What I haven't got my pea-brain around is the OD interest, ie the first kind... Question: DO I Just put the total Charges into a calculator and then x 0.08 to get 8% to give 'OVERDRAFT Interest'????

 

Please help. I've been trying to get my small brain round this for weeks. Can you help!!

 

Cheers,

JulesR

[Lula]

Overdraft interest is a minefield, if you have been overdrawn ALL THE TIME and the charges come to more that the overdraft, the add on the overdraft interest, if not then dont even attempt it, because i dont understand how to do it and woudnt have a clue where to start.

 

So you need to alter Bankfodders sheet a bit to say

 

charges

and 8% Interest

plus interest accruing at 8% per day until settlement , to work this out, add up all totals and multiply 0.00022% that will give you roughly an 8% interest rate per day.

 

Hope this helps

[JulesRamone]

Thanks Lula,

I'm beginning to understand, but the confusion lies in the fact that the overdraft interest is supposed to be 8%, yet the 'daily rate' interest which is I think the one which is in the right hand column of the excel spreadsheet and looks like this:

CLEARED TRANSACTION CHG£30.0029/12/2005522£3.45

I will leave out the overdraft interest as you say, but that still leaves TWO kinds of interest, the way you explain it... both which are 'daily'...

HERE is the revised thing you have suggested:

charges >>>>OKAY cool

and 8% Interest >>>>HOW IS THIS WORKED OUT... IS IT s.69???

plus interest accruing at 8% per day until settlement , to work this out, add up all totals and multiply 0.00022% that will give you roughly an 8% interest rate per day.>>>>ADD UP ALL THE TOTALS ie, the two totals above???

Thing is there's nowhere on the site that really spells it out... And also, I think I read somewhere that the OD interest should be at 8%, which is the same as the spreadsheet excel rate... It's so confusing.

 

I will definitely leave out Overdraft Interest, as I think I do understand taht that is too complex.

If you can explain any more, Id be very grateful... Many thanks

JulesR

[Lula]

Hi, sorry for the confusion, perhaps it is the way that i explained it, the interest calculator on the spreadsheet calculates the interest per breach at 8% per day from the date that the monies were taken from your account. When you file your N1 in court the total stands at Charges + interest.

 

Now, from the date of the filing of court papers until the day of judgement, you are further entitled to claim 8% interest per day on the TOTAL amount claimed.

 

It is all S69 interest

 

 

So for example

 

if my claim was for £100 and the interest was £16, my claim would go into the court for £116.

 

When you win your claim you are allowed to claim 8% interest per day on the total amount claimed from the time that you filed until the day of judgement.

 

So, if you filed on day 1, and you won your case on day 45, you can claim the total of £116 plus interest accruing 116 X 000.22% and the total you get is multiplyed by 45 and that is the total that you add onto your original claim to find the total at day of judgement.

 

Hope this clarifies

[JulesRamone]

Thanks again Lula,

I'm just going to repeat back to you what you've said and suggested, to make sure I've understood it. I'll put together BF's crib, plus what you suggested, plus my understanding of it + what I've put on the N1:

 

Charges £xxx.xx

This is the basic thing, which I've listed on the spreadsheet and for me totals about 1200 quid

Overdraft Interest £xxx.xx >> INTEREST type I

I haven't quite worked out what this is exactly, but I think it's me charging the bank for borrowing money from me... I'm still not sure. You have suggested it's complex and to leave it out, so I have

Interest under s.69 County Courts Act 1984 £xxx.xx >> INTEREST type II

This is at least easy to work out because when you put the amount and date of each charge taken from your account into the spreadsheet it automatically works out how many days since the monies were taken ('the offence') and how much interest has accrued. The spreadsheet then adds up all the amounts for each of the 'breaches' and totals it up, and then even adds it to the original charges for you. This is the s.69 interest on the spreadsheet in the column headed 'Interest 8% APR'

Court Fee £xx.xx (straightforward, although I was a bit stunned when the CC told me this morning it was 120 quid!!)

TOTAL £ xx.xx

Okay, so the TOTAL you are claiming on the N1 now, including the interest you have calculated and presented, but not the next interest which is calculated from the day you win

Plus interest pursuant to S.69 County Courts Act 1984 from date of issue to date of judgement/settlement at £xx.xx per day [(enter daily rate here - (CHARGES+OD interest)x 0.00022 = pence per day)] OR at such rate and for such periods as the court deems just. >> INTEREST type III

As I understand from what you say, this is also s.69 interest (Consumer Act '84) BUT is the interest on the TOTAL you have claimed and now won, ie the amount you claimed you were owed on the day you submitted the N1, ie the day of the claim. The interest being claimed here in this third type of interest is a daily rate per day on the SUM you claimed on the day of the claim--and have now won. As Lula explains it: 'if you filed on day 1, and you won your case on day 45, you can claim the total of *£charges + £s.69_interest_claimed_on_N1* plus interest accruing *£TOTAL* X 0.00022% and this new total you get is multiplied by 45 and that is the total that you add onto your original claim to find the total at day of judgement.'

 

I've gone through it like that because I have to have everything in very small bite-size chunks and see how it all fits together. Thank you for clarifying--I really didn't understand this about two hours ago, and now I DO!!!

Thank you, thank you, thank you, thank you...!! I'm handing in the N1 tomorrow.

JulesR

[Lula]

hi yes thats it and yes 0.00022% it was late

[JulesRamone]

Hello,

I'm at the next stage, and will look for guidance around the site, but wondered if anyone has experience with abbey when they decide to defend. I've just received a letter offering me 65% of the amount i claimed. I assume this is just delaying tactics, and to not sign or accept the settlement and just leave it to the court date, when of course I'm hoping they won't show up and thereby default.

 

I'm hoping they just want to put me off going the whole distance, and want me to take some money now instead of all of it later. The court adds on another fourteen days as I understand it.

 

Will I have to show up at court even if they don't?

 

Any thoughts very welcome.

 

Cheers,

JulesR

[JulesRamone]

Hello,

I'm at the next stage, and will look for guidance around the site, but wondered if anyone has experience with abbey when they decide to defend. I've just received a letter offering me 65% of the amount i claimed. I assume this is just delaying tactics, and to not sign or accept the settlement and just leave it to the court date, when of course I'm hoping they won't show up and thereby default.

 

I'm hoping they just want to put me off going the whole distance, and want me to take some money now instead of all of it later. The court adds on another fourteen days as I understand it.

 

Will I have to show up at court even if they don't?

 

Any thoughts very welcome.

 

Cheers,

JulesR

[Bigmac versus]

As long as their offer isnt for the total amount then continue to court, you could contact them by telephone offering them one last chance to settle.

If they offered 65% then they are dangling a carrot hoping you bite, inform them of your intentions and there could well be a settlement agreed.

 

Will I have to show up at court even if they don't?

YES if they havent settled in full before.

[JulesRamone]

Abbey have put in a defence. I'm at the AQ stage and have to fill it in by the end of next week.

 

They sent me a letter offering me 65% of the claim, which I havent responded to, and now today they sent me a letter saying:

 

We've noticed that you're not paying the usual amount of money into your account and wondered if we can help? Call 0845###...

We're happy to discuss any concerns you have or run through your options if you've had a change in circumstances. Just give us a call...

If you're not able to continue your old monthly payments, we may have to reduce your overdraft. Of course, if this is necessary, we'll let you know in advance.

 

Needless to say there has been no change in the usual amount of money going into my account. Unfortunately, my overdraft is quite big and if they reduce the overdraft if I were to win my claim that would be a sizeable chunk from the money repaid. It would be entirely unfair of them to reduce my overdraft on their reasons given, but I'm assuming I wouldnt be able to stop them. I do have another current account but it would be a hassle moving everything over. Can anyone advise on what I should do? Do I ignore it, or write to them? If I wrote to them, I don't know what I would say.

 

Very grateful for any guidance as always.

JulesR

[JulesRamone]

Hello,

Can anyone help? I'm at the court stage... Abbey look like they're threatening to reduce my overdraft. If anyone has any advice, it would be very welcome.

 

JuleR

[Bigmac versus]

Hi Jules unfortunately they have the right to remove this whenever they wish.

It sounds like they are trying to bully you into accepting a lower offer.

If your income isnt any different then simply reply by saying so and ask if they could reply to you regarding this matter.

If they are going to do this and as you say it is quite large then why dont you get at them first and ask if they can reduce the overdraft by a fixed amount per month so as to lessen the impact, if they agree to this then you will have this in writing.

[ICY]

Another thing worth noting is they are not allowed to take overdraft without giving proper warning, i believe this period is 28 days but not 100% sure

[JulesRamone]

Hello everyone,

I've made a big claim for abbey and that's now all waiting for this test case to go through in march, if ive got that right.

I've got a couple of other claims part-way through the process but after the LBA to both Halifax and Nationwide, Ive then left it a couple of months. Was there a deadline on how long I had to make the court claim after sending the LBA? Or is there no limit?

JulesR

[Lula]

There is no real limit, but i would say that for the sake of fairness after 6 or so months you would have to LBA them again. Having said that, I would strongly urge you to file at court as soon as possible, and I am not talking from any prior knowledge, just a gut feeling that it may be imperative to have a claim lodged at court by the time this farce of the OFt case is settled. Also of course, I may be wrong, it has been known to happen lol

[JulesRamone]

thanks once again Lula.

 

The oft thing is very annoying. I was only a couple of weeks away from a court date... whole thing postponed.

[Bigmac versus]

The bank will log your complaint and basically put it on hold until the test case gets resolved, when the case is over the banks will proceed with the complaints (pay up) so there shouldnt be any need for court action.

In an ideal world.