2392 Ann v Lloyds tsb

[2392ann]

If I have two accounts that I am claiming money back on. The totals are £3126 plus £518.45 interest and £2179 plus £414.54 interest, totalling £6237.99. Do I claim the amounts separately keeping each one below £5000 or can I put them through as one?

 

I think I will save £10 if i put them through seperately as the court costs are £240 above £5000, but £120 each below £5k, which would be the best one, does it make any difference?

[2392ann]

Can someone help with my last thread, I am keen to get paperwork off to the courts but am unsure of a few things.

[2392ann]

If I have two accounts that I am claiming money back on. The totals are £3126 plus £518.45 interest and £2179 plus £414.54 interest, totalling £6237.99. Do I claim the amounts separately keeping each one below £5000 or can I put them through as one?

 

I think I will save £10 if i put them through seperately as the court costs are £240 above £5000, but £120 each below £5k, which would be the best

one, does it make any difference?

:?

[lucid]

It's up to you but you might prefer to claim for them seperately (at the same time) to keep below the £5000 limit. It's not a problem to have two seperate claims at the same time (we had three) and I personally think it's easier to keep the accounts seperate.

 

Don't forget that it doesn't matter about saving money for court costs as they will get refunded - providing you do everything in the right way and don't end up getting your claim struck out.

 

Good luck. Lucid

[2392ann]

Thanks Lucid

Just one more thing, I asked the same question by replying to my own previous threads but got no response so I started a new thread, was I correct in doing this? I would like to keep all my threads together but I'm not sure if I'm using this sight correctly, can you help!!

[GuidoT]

Best to stick to one thread so that your progress can be followed easily. If no one answers your post then just reply to your own thread with BUMP (Bring up my posting).

 

Sometimes posts just do not get answered, although now unlikely as Lucid is subscribed to your thread and is pretty good at responding.

 

If you are just getting no response, just PM someone on your thread saying have a look at my thread. We are all here to help you.

[2392ann]

I think I might have made a boo boo!!

 

I originally received and email via Martin Lewis' money expert website with claiming back bank charges. I originally used his template for calculating interest as I had not come across this site. His advice is to claim 8% statutory interest. I've pasted his email below:-

Charge interest on top

If you won via the courts, you would be entitled to add 8% interest (not compounded) on top from the date you were ‘first deprived’ of the money (i.e. the date of each charge). Therefore you may want to ask for the interest as part of the initial claim. It's important to understand that you are not legally entitled to interest unless you win in court, yet all prior letters are a tool of negotiation; think of it a bit like haggling.

 

You may get lucky and get the interest on top, but even if not, the legal feedback I've had is that it’s one route to pushing the bank to settle quickly so it can offer to pay you without the interest. Of course there is a risk that asking for too much makes them less likely to settle too - sadly this is an art not a science. This isn't an easy concept so I've recorded a quick

which may help explain it.

 

For those who do want to ask for interest, I’ve had the calculator below specially built to work it out for you and included it as an option in the template letters later. However, if you'd prefer to play safe simply ask for the charges without interest in the early stages.

 

Charge Amount: £

 

When was the charge?

D: M: for(year=1999;year

[GuidoT]

I do not agree with M Lewis' point regarding the claiming of statutory interest prior to filing the claim, I understand his rationale though.

 

I consider that by including it, it shows that you do not fully understand what you are doing.

 

If you have included it, well not to worry, just carry onto the next stage, it is very likely you will end up filing the claim and including the 8% anyway.

 

I would stick to the steps recommend in this site.

[lucid]

Thanks Lucid

Just one more thing, I asked the same question by replying to my own previous threads but got no response so I started a new thread, was I correct in doing this? I would like to keep all my threads together but I'm not sure if I'm using this sight correctly, can you help!!

 

Hi,

 

If you want your threads to be merged then you just need to Private Message a Moderator and give them the links of the threads you'd like to merge - that way all of your previous questions with answers can be in one place. You can also ask them to change the thread title.

 

Good luck. Lucid

[2392ann]

I dont think the end my thread came through.

I have sent LBA letter requesting refund plus 8%, they have not responded, shall I submit my court claim without interest or add on Stat Interest 8% as in my LBA or change to contractual interest. I read one thread which said I'm unlikely to get my money if i've added the 8% at this stage (LBA). If all I get back is the charges then that would great, the interest to me is a bonus.

Sorry to ask this question again but I just want to make sure I'm going about it the correct way.

Thanks

[GuidoT]

If they have not responded to the LBA, then file the claim 14 days after with interest.

 

It is your personal choice as to whether you claim contractual or statutory interest. In summary you are definitely entitled to statutory (once the claim is filed) but contractual interest has yet to be tested in the courts. This link may help you decide:

http://www.consumeractiongroup.co.uk/forum/general/18313-why-no-one-claiming.html#post142054

[2392ann]

Hi

 

Please can you explaing what the overdraft interest is? I feel like I'm going backwards with all this. Below is a paragraph from stage 2 letter; What exactly is the overdraft interest they have charged me? Is this the statutory or contratual interest? If not how do I calculate it?

 

I calculate that you have taken £XXXXX plus £XXX which you have charged me in overdraft interest for the sum which you have taken.

I'm sure that it explains somewhere but I can't find it and I am starting to pull my hair out. I don't want to give up but I'm starting to get frustrated with myself as I've already made a mistake in adding the 8% on the 2nd letter!

 

Any adivice that you have would be greatly appreciated.

Thanks

[lucid]

Hi,

 

Firstly don't worry at all that you included the statutory interest in your prelim letter. As GuidoT says, it's not a major mistake and you will leave it out of your LBA now.

 

As for the overdraft interest this is neither statutory or contractual. Overdraft interest is interest you have paid the bank yourself. For example if you have an overdraft you wil get charged interest for using the overdraft. If you go overdrawn without permission (the act that results in getting charegd) then you will get charged a higher rate of interest. We are entitled to claim back the portion of itnerest that has only occurred because of the bank's charges. Using a spreadsheet you can work out roughly how much this is - but a lot of poeple don't bother. I think that if you have been taken overdrawn by the bank's charges a lot then it's worth working out as it could amount to a lot, but if you have abrely been taken overdrawn by their charges then the amount you can reclaim will probably be small.

 

You don't have to include it in your claim and if you don't just take out the sentence that refers to it in the letter.

 

Lucid

[2392ann]

Thanks for the reply but I'm still not sure what to do next, I'll summarise what I've done to date:-

 

1. Sent letter requesting repayment of charges of £2179, these charges are o/draft excess fees and unpaid d/debits plus 8% interest (which I now know I shouldn't have added). - Received letter back saying sorry but I should have looked after my account better....blah blah blah.

 

2. Sent LBA for the same amounts but have had no response.

 

I now need to send off claim. Do I claim back £2179 plus adding on overdraft interest (using the speadsheet from Mindzai's) plus the statutory or contractual interest.

 

Should I write to the court explaining why the amount I am claiming differs from the amount originally requested from LTSB?

 

Can you write it in simple terms, I'm getting very confused.

 

Thanks

[lucid]

Hi Ann,

 

Sorry to add to the confusion - I missed that you'd already sent your LBA.

 

What you do now with regards to filing your claim is entirely up to you. If you want to add overdraft interest onto your claim now then I don't think it will matter that you haven't included it before.

 

As for statutory interest you are now entiteld to add it to your claim.

 

You mentioned adding contractual interest but obviously you haven't mentioned contractual interest in your letters to the bank. I would advise against adding this on to your claim. If you seriously want to consider the contractual interest route then I suggest you thoroughly research it and then start over again - with the prelim. That probably seems like an extreme suggestion but if you are serious about claiming it then you should follow the correct procedures - just to ensure you do everything properly.

 

Whatever you decide to do you won't need to write to the court and explain the amounts. All they will need is your completed claim form, particulars of claim a current schedule of charges.

 

I hope that helps,

 

Lucid

[2392ann]

Thanks Lucid

I think I understand now.

I am going to claim back overdraft interest as both my claims add up to quite a lot, plus also the 8% stat interest.

How do I calculate overdraft interest? At what rate?

On using Mindzai's spreedsheet (for stat Int) :-

On my sheets from LTSB I have the date and description of charges, I am thinking the date they charge you overdraft interest is for the previous month!?

I do not have all my balances at the time of the charges applied, (I have some original statements but the rest are just the charges) I have tried to download my statements but it doesn't allow me to, do you have any advice on where to go from here.

Thanks

Ann

[MARTIN3030]

Ann your threads merged and I also retitled for you

 

Martin:D

[2392ann]

Can anyone help me with my last thread??

[2392ann]

Thanks Martin

[2392ann]

I've just received, a little late (11 days), a response to my LBA letter saying it's very easy to keep a running check on the balance of your account blah blah blah, but they quote the following:-

 

Generally we don't agree to adjust any of these charges, but I can tell you that on this occasion we are prepared to reduce these charges by repaying you £645. I have also arranged for £105 of charges to be waived due to come out of your account in the immediate future. You may have read that we and the other banks are discussing overdraft charges with the Office of Fair Trading. Meanwhile we do consider each customer's position individually, and we are making you this offer as a gesture of goodwill because we might face that cost in dealing with your complaint if you took it any further.

 

It then goes on to say that they do not have any leagal obligation to repay this money, to keep within my limit, that it's the banks final response and if I am not happy to complain to the Ombudsman within six months.

 

Do I write to accept this as partial repayment and that I am carrying on with my claim. Is there a template letter for this??

 

I have read other threads with similar responses from LTSB.

[2392ann]

I've found a template letter responding to the letter received from LTSB as in my last thread.

 

My LBA letter was sent 29/1/07 they didn't respond within the 14 days but 24 days, i've pasted my response letter below and would like to know if i've ammended it correctly to suite my situation, I haven't sent off my court claim yet but intend to do so next week (going slowly to make sure I don't make a mistake) do I give them another 7 days to respond before I go ahead with my claim?

can anyone adivse me on this?

 

Thank you for your letter dated 19/02/07

I respectfully decline your offer as Full and Final settlement and request, once again, that you return to me all charges imposed on this account, totalling £xxxx

 

I will accept the sum offered only as part settlement and on the clear understanding that I will pursue recovery of the remainder, with a County Court claim if necessary.

 

My Letter Before Action dated 29/01/07 indicated that you had until 12/02/2007 to respond before I proceed to the next stage of my request, before I commence legal action. My deadline remains the same despite this offer.

 

If you do not accept my conditions, or you do not respond within 7 days, I wish to stress that I do not accept your offer and any money transferred to my account should not be viewed as my acceptance. I hereby authorise you to remove this sum accordingly.

 

I trust this clarifies my position.

 

[BARTY]

Hi

Personally I would not give them another 7 days. I would send the rejection of settlement letter and then start the Court claim.

Barty:)

[2392ann]

Hi Barty

Do I take out the '7 days' in the letter, have I changed the letter to suite my needs correctly?

Thanks

Ann

[BARTY]

Hi Barty

Do I take out the '7 days' in the letter, have I changed the letter to suite my needs correctly?

Thanks

Ann

Hi Ann

Yes I would take it out, but it's up to you.

Barty:)

[2392ann]

I have completed the compound sheet for two different accounts, my query is the amount on statutory interest being added to the total penalties, as below:-

 

Acc 1

total penalties - £3346.00

8% stat int - £681.93

Interest on penalties £288.21

8% stat int - £ 47.31

 

Acc 2

total penalties - £2154.00

8% stat int - £24.25

Interest on penalties - £363.63

8% stat int - £64.25

 

There is a substantial difference between the 8% stat int on penalty charges (£681.93 and £24.25).

Could I have done something wrong, surely the £24.25 should be considerably more or the £681.93 considerably less.

Can anyone shed any light on ths, I don't want to send it off when one or the other could be wrong.

Thanks:confused: