Are they paying out sooner without interest?

[steven4064]

Contractual interest would be a kings ransome!

[pula]

Pula; Re: Are they paying out sooner without interest?

 

Getting worried after reading this thread. Natwest offered full charges claim on 8th Feb (letter was dated 1stFeb) but the offer arrived 2 days after I had started court action - 5th Feb. I wrote saying they were too late I wanted charges & 8% interest as it was now in the court. Was this the correct thing to do? Will I lose everything now?

[Parkvale]

My kingdom, my kingdom for contractual interest.

Pardon the play making pula, but i would say if you have started court proceedings.Continue. They have only just started this latest full offer without interest campaign. Within the last week. I would carry on, but keep an eye on how things develop

[steven4064]

Pula

 

Apart from the 8% interest, have they offered you everything you asked for?

 

Steven

 

ps Parkvale, I think THAT's Henry IV

[OldBear]

ps Parkvale, I think THAT's Henry IV

Richard III actually, mate.

[steven4064]

Absolutely right OldBear - memory obviously going!

[Parkvale]

Is this the C.A.G historic section ?

[pula]

Steven 4064

The court action is for charges, court costs and 8% interest. They only offered the charges, but the offer came after I had put in the action so feel the least I should get now is charges + costs but actually would like the 8% as well. Is this wishful thinking now the nat west strategy seems to have changed? Hope not but need some encouragement to continue. Normally this site makes me feel very optimistic but this particular thread is making me a bit more cautious.

[Don4071]

Hi Pula,

 

I'm in the same boat as you. Despite telling NatWest 3 times when I would be filing my claim, they got around to offering the full amount after I had filed.

 

I've since learned that NatWest are now refunding charges without any quibbling - obviously to avoid paying court costs & interest.

 

Now that I've incurred court costs I've decided to stick it out to get costs & 8% interest.

[steven4064]

It's really the same situation as if they had made an offer for an out of court settlement. Why don't you write back thanking them for the offer and say that you have now incurred court costs and have put in for 8% s69 interest. If they would like to increase their off to whatever that tots up to, you will be quite happy to settle. Copied to the court of course.

[RicardoDiaz]

They have definately realised that a lot of people will settle without interest.

 

Just rang the Customer Relations Unit for an update and a letter is coming out to me by the end of the week with an offer for my claim in full without the interest I asked for.

 

I think I might settle but I might ring to try and negotiate half of my interest.

[thecornflake]

Steven 4064

The court action is for charges, court costs and 8% interest. They only offered the charges, but the offer came after I had put in the action so feel the least I should get now is charges + costs but actually would like the 8% as well. Is this wishful thinking now the nat west strategy seems to have changed? Hope not but need some encouragement to continue. Normally this site makes me feel very optimistic but this particular thread is making me a bit more cautious.

 

You should definitley hold out for a refund of the court costs as you've now paid them. Arguing the 8% as well should be ok really as you've now filed the claim and the interest has been added.

 

However, if the settlement offer came in only just after you filed the claim they could try and argue it's unreasonable. There are two sides to it -

 

1) You should accept the court fees and charges, and holding out for the interest is unreasonable as they have offered to pay the rest

 

2) They offered too late, it's their fault and they are trying to get away with not paying statutory interest.

 

I'm not sure how a judge would see it. I think it comes down to how much that interest is. If it's not a lot maybe you would be better accepting costs and charges (if they agree to include the costs).

[pula]

Ricardo, was that contractual or statutory interest you claimed? Says somewhere in this thread that the staturory interest 8% can only be added after the case is filed in the court - so can you stick out for the interest? Brave of you phoning Customer Relations - I always reckoned they would be rude - well abrupt anyway!

 

[RicardoDiaz]

Ricardo, was that contractual or statutory interest you claimed? Says somewhere in this thread that the staturory interest 8% can only be added after the case is filed in the court - so can you stick out for the interest? Brave of you phoning Customer Relations - I always reckoned they would be rude - well abrupt anyway!

 

 

 

Hi Pula

 

In my letter I used the template from here and chaged it slightly. The letter referred to overdraft interest but I had never had an overdraft so said

 

I calculate that you have taken £XXX plus as I believe I have been unlawfully deprived of the money I have calculated £XXXXinterest at the statutory rate, the amount the court will award. Total £XXXXX.

The only reason I will ring the customer relations is that I work in an environment where I negotiate every day and have seen that people on other threads from other banks have rang and negotiated higher amounts. At that point I will not have anything to lose.

If I get someone nice when I ring I might get a result!

Diaz

[RicardoDiaz]

The Number for customer relations is: 0208 236 8220 if anyone needs it.