Claiming on a Business account? Lets join forces?

[bobcatman]

just a bump

[Celicaman]

GC, Sounds like just the charges from 2000, easy way to check what interest they have given, just copy & paste figures from 2000 into a new spreadsheet ( i use Mitzias spreadsheet).

 

Remember in your reply, no expletives and get stuffed you SOB does not constitute a suitable reply although would be more apt

 

CM

[groovycaz]

Yep its a big BUMP

just calculated the figures and with compound interest dating back to Jan 2000 should be £4504 plus £590 charges, thats at the rate they charged me...GC

[groovycaz]

Hey bobcatman thats the first bump ive had on this site,

just knew that i'd get one soon..... GC

[groovycaz]

GC, Sounds like just the charges from 2000, easy way to check what interest they have given, just copy & paste figures from 2000 into a new spreadsheet ( i use Mitzias spreadsheet).

 

Remember in your reply, no expletives and get stuffed you SOB does not constitute a suitable reply although would be more apt

 

CM

 

 

tut tut and a neighbour of mine aswell,

would like nothing more than to tell them where to go Celicman but

better keep it professional, well till I ger my money back with interest

GC

[Celicaman]

Im busy putting couple of business claims together, one going back to 1990 and the other 1996 and am going to go for the overdraft fees & compound interest as well. So will follow your thread,see how you get on although its different banks

 

CM

[groovycaz]

Celicaman

Have you issued court order yet? I might be following you,

Been waiting till Im sure before I take this one to court,

photomans been a great help to me, and this thread is great because it

keeps the business claims in one place so your not looking all over the site

for advice relating just to business claims......GC

[Celicaman]

No not yet, xtill working on pre lim letter, been busy other stuff, will try to start tommorrow

Got personal one at court, but no date or anything at all from DG

 

CM

[deedee2665]

Hiya celicaman what is compound interest please ? My huuby had got a claim ongoing for a business account with hsbc

[Celicaman]

Hi DD, Compound interest is what the banks charge us, thats why it ends up costing us a fortune.

If you put a claim in for charges to the court, they will award a statute 8% flat IE £8 per £100 per year, so after 1 year you get £8 and 2 years £16 etc

Compound interest is at the banks rate and is charged daily and each day interest is added onto the balance and then charged again.

So ( see if i get this right ) you are £1000 overdrawn, the overdrawn interest rate is 18.3% pa. that equates to i think 1.41% per month so after 1 month it is £14.10 so add to £1000 now same interest on £1014 and so on, except they do it daily ( not doing it correctly the interest is £180 PA plus compounding)

As an example a claim for charges for £550 from 1996 with courts 8%, you get £390 ish back, total £940 if you go compound its worth £2500 all in, plus if you have all the figures,theres also the overdraft interest on the charges to claim back and then the compound interest interest on those which equates to about £188 interest and £500 plus with the compound interest so total claim becomes on the lines of £3250, so thats the basics of it.(based on my claim ) It does depend on how old the charges are of course, and also it does not mean a court will/ would award those charges, which is why on court claim you say you will accept 8% flat if court says so., however the aim is not to get to court, but to get the bank to pay back at the same rate they hammered you with in their settlement.without going to court and proving their charges. You have to understand it and be able to stand in front of a judge in the off chance he asks , it prob never get there BUT you need to know it, just in case. I wasnt going to try and was advised not to unless i put in the time to learn it, i did the calcs in Mitzias spreadsheet and when i saw the figures, found out it is worth spending the time to learn it.(see figs above LOL)

 

have a read of these, they are the ones to follow

 

http://www.consumeractiongroup.co.uk/forum/lloydstsb-successes/26172-mindzai-lucid-lloyds-tsb.html

 

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/33005-bong-hsbc-contractual-interest.html

 

iF you have already asked for your charges back, you will have to send revised / amended claim to the bank ( see Bongs thread ) if you past MCOL stage , i dont think you could do it unless you file amendment with court, but that would knock claim back a while as you have to tell bank first

check the rest of the forums on CI , Read , Learn, prepare and dont be afraid to ask

 

CM

[c_allen]

if you go for CCI, then DON'T ACCEPT ANY OFFER unless it's the full amount, keep your claim whole

[Celicaman]

Anybody got ant T & C's for business accounts. Im Hoping My father in law may have some for about ten years ago, but he away on hols till after bank hol monday.

Ive seen that we are doing well on T & C's for persoanal but not business, i will start a thread for that now as well.

 

CM

[photoman]

Okay

 

Recieved the defence from Foot Anstey yesterday.

 

NOT the usual 9 point standard defence...

 

It's a 28 point defence,

.. most of it standard stuff, but some of it is a bit away from the norm.

 

I think Foot Anstey are making efforts to move away from the usual defences, so it would probably be something the Mods and site helpers would want to see.....

 

....... also, I think I'm definately gonna need some help with this one !!

 

Could any mods or site helpers PM me, and I'll forward it by email ?

 

Will try to post for all to see once they have looked over it and determined if safe to do so.

 

Best regards

 

PM

[karen01]

Hi everyone

 

I'm currently trying to claim on 3 current accounts ( mine and my husbands).

 

My husband is self employed so thought I would try to claim on this account also. I received the statements today and the charges total £1760.

 

I've just been reading some of the threads on claiming on a business account and it all seems a bit daunting compared to claiming on personal C/A's. We are in Scotland also which makes claiming that bit more difficult.

 

Because of the above and the fact that my baby is due in 2 weeks time I am considering using one of these companies who do all the work for you.

 

I'm not bothered about in getting interest costs back and I understand that this is what some of these companies take as payment?

 

I would be grateful if anyone could recommend one of these companies or reassure me that claiming on a business account ( RBS btw) isn't much more difficult that claiming on personal accounts.

 

Thanks

Karen

[nevos]

Hi Karen,

 

Usually those companies charge up to 40% of any refunds! You could get the ball rolling with help from here and still have time to have a baby etc...there is plenty of help available and mostly it is just putting letters together from templates- Kind regards and Good Luck!

[Celicaman]

Hi Karen, as Nevos says, you have plenty of time, up to 5 years to claim from now. Have a read up on Contratual interest, its amazing how a £1000 claim can be worth £3000 and more depending on how many years you can go back.

Try Using Mitzias spreadsheet to workout what the claim is worth at statute interest and it show CI as well, it also works out the interest on the charges, and then the CI interest you were charged on that.

I would then decide which way to go, i did same and got one heck of a shock. ( I Doubt if claims companies will go for CI anyway, they like the easy approach)

Cant advise on scottish claims, use the search box & type in scottish business claims or similar and see what threads come up.

Good luck on your pregnancy and if we dont hear from you for a while, we Know Why.

Dont be afraid to ask any questions ( not about pregnancy, although im sure a few would offer advise ) and take time to understand it all.

 

CM

[sn00psmum]

Hi Karen01,

 

We have just claimed on an RBS business account, we didn't go for interest to keep it simple. We had an offer for the full amount within a couple of weeks which we accepted at the beginning of March, however, weeks later we still don't have a cheque as they used the refund amount and the credit balance to offset the overdraft on our personal account, even though it's in dispute due to charges issues!

 

It has taken lots of letters and numerous phonecalls to get sorted but I am assured that a cheque is now on its way to us.

 

No need to be nervous about claiming, just be very careful when offered a refund, make sure you know your rights and read as much as you can.

 

Good luck with the claim and the baby!

SM:p

[almar1]

i had a ltd account and sole trader with barclays and a 10k overdraft which is now down to 5+ sent in letters to bank for statements etc about 6wks ago But on friday even though money was in account they stopped all standing orders and closed both accounts! which has rather put me in a sticky position alan

[mattemotion]

Ok, I'm a "Forum Virgin", so please forgive me if I've put this in the wrong place.

 

Three Q's, can any one help...

 

I closed my LTSB Business account 2 years ago, when I switched to Barclays (so far so good), the reason for the switch was Lloyds unbelievable charges. Can I persue them even if I haven't held an account for some time?

 

I still have my personal account with LTSB and will be very concerned if they remove my OD facility, how likely is it that Lloyds will pull the plug on this?

 

My mortgage, however, is ok as this is with C & G, oops, hang on that's part of Lloyds too, so how safe is this?

[make_me_happy]

Ok, I'm a "Forum Virgin", so please forgive me if I've put this in the wrong place.

 

Three Q's, can any one help...

 

I closed my LTSB Business account 2 years ago, when I switched to Barclays (so far so good), the reason for the switch was Lloyds unbelievable charges. Can I persue them even if I haven't held an account for some time?

 

I still have my personal account with LTSB and will be very concerned if they remove my OD facility, how likely is it that Lloyds will pull the plug on this?

 

My mortgage, however, is ok as this is with C & G, oops, hang on that's part of Lloyds too, so how safe is this?

 

Yes you can claim on closed business account, I did. Mine was closed for nearly 2 years now.

 

They should not retaliate by taking your overdraft away, however they might credit the refund into your account in order to clear your overdraft. They have the right thouh of withdrawing the overdraft if they wish. I claimed from my business account scared that they might close it. You just have to be brave and do it!!!

 

They will not touch your mortgage, one thing has nothing to do with the other!

 

i hope this helps.

[almar1]

iam trying to claim on a business acc,but dont no where to start yes got my bank statements and the sreadsheet, but in the apr box what do i put??

[photoman]

iam trying to claim on a business acc,but dont no where to start yes got my bank statements and the sreadsheet, but in the apr box what do i put??

 

Almar

No short cuts I'm afraid !!

If you wish to make a claim, it is important that you understand the basics, and this is best done by reading this thread, and several others (there are links to them contained in this thread) which contain absolutely all the information you need.

It's for your own benefit that you do this, it will improve your chances of sucess if you understand matters for yourself, rather than relying on others.

So I suggest you make yourself several pots of strong coffee and sit down to a good reading session.

 

best of luck

[photoman]

Just found a leaflet of charges for lloyds TSB Business account charges from 1998.

I will be forwarding to alanfromderby for the CAG library, but if anyone is specifically against lloyds and urgently needs them you can PM me.

 

Regards

[dorisfluffy]

I entered my claim with the court on 1st May and then sent an amendment as I'd added the figures wrong and used the incorrect POC for a business account. I called the court today to ask when my amended N244 and N1 would be filed and they told me its four to five weeks before a Judge looks at it!

Lloyds solicitors, Martineau Johnson sent a Part 18 CPR letter to me today. The wording is:

"Unless we recieve a properly pleaded claim, together with a breakdown from you, giving full account details and showing each charge, what it relates to and the date levied, and a proper calculation of interest within 7 days of the date of this letter, we will make an application for a stay of the claim until full details are provided."

As the amendment is with the court I don't know what to send them apart from the spreadsheet I sent to the court with my N244 and N1. HELP!

:? :?

[photoman]

I entered my claim with the court on 1st May and then sent an amendment as I'd added the figures wrong and used the incorrect POC for a business account. I called the court today to ask when my amended N244 and N1 would be filed and they told me its four to five weeks before a Judge looks at it!

Lloyds solicitors, Martineau Johnson sent a Part 18 CPR letter to me today. The wording is:

"Unless we recieve a properly pleaded claim, together with a breakdown from you, giving full account details and showing each charge, what it relates to and the date levied, and a proper calculation of interest within 7 days of the date of this letter, we will make an application for a stay of the claim until full details are provided."

As the amendment is with the court I don't know what to send them apart from the spreadsheet I sent to the court with my N244 and N1. HELP!

:? :?

 

I Suggest that you ring the court and ask them about this. Ask whether it would be appropriate for you to send directly a copy of your claim with the amendments and schedule of charges to the Solicitors

I don't see why not ?

It is not priviliged in any way, and they would be getting it all fromthe court soon anyway.

 

Lets us know what happens.

 

Best regards