What can you claim?

[bram stoker]

Due to a little confusion, I am posting this to hopefully clear up some points.

 

You can claim unlawful penalty charges.

You can claim any interest that was taken from your account in respect of those charges.

These added together is the total amount taken from you that you wish to be refunded.

 

You can then add interest if you wish.

Statutory (judicial in Scotland) interest is to be claimed only when raising your claim in court and is currently 8%.

Statutory interest is in place for circumstances where contractual interest does not exist. If you claim contractual interest you must add this at the start of your claim and amend the template letters according to your arguements.

 

There is a debate about whether or not contractual interest exists. Please do not let this debate cloud your claim. If you do not understand or cannot argue the points of law, then simply avoid the subject. It is not a necessary part of your claim. If you do wish to take this route there are many users who are willing to assist you.

 

The fight is for banks to refund unlawful bank charges.

 

If you have Google access, here is a spreadsheet to clarify the points made.

Google Docs & Spreadsheets - claim

(This is for example purposes only. Please use spreadsheets from the library or my Chambers or other users templates such as Mindzai's to assist in building your own spreadsheet of calculations.)

 

 

I hope this helps.

[Guest NATTIE]

bump as not stickiefied

[blueskies]

stickiefied

[Bailiffchaser]

Can it be argued in court that the amount the debt was sold to the same offer should have been made to me ? or why was it not made to me ?

[Ckay]

Hi Vampiress

Do you mean all the debit interest that the bank have applied to your account over the period ?

[bram stoker]

I mean the amount that they took that relates to accumulated charges. This is difficult to calculate. If someone can post the notes in my guides on this here I'd be grateful. I'm struggling with computer access.

[bill-k]

VAMPIRESS'S SHORT GUIDE TO INTEREST

 

You are advised to give the bank a detailed breakdown of what you are claiming from them. This can be a simple hand-written list or a more legible document prepared using a typewriter or software on a computer.

 

Reading this, you are likely to be claiming numerous charges from your bank or credit card company. These should be listed with the dates and detail of what they are.

 

You were probably also charged interest on what were considered overdrawn amounts. The overdrawn amounts may include accumulated charges. If you can apportion the interest you were charged between the accumulated charges and the "true" overdraft, you will probably like to add to your claim the interest that was charged on the charges which you are claiming to be refunded.

 

The advanced spreadsheets I have created should give a good estimate of the apportionment.

 

Having listed the items you wish to be refunded, you are entitled to request interest on each one of these as an individual item. The courts state a statutory rate (judicial rate in Scotland) of 8% that you can add in the absence of any contractual rate.

 

Some argue that there is a contractual rate, by means of mutuality and reciprocity within the contract you have with the bank or credit card company. The bank will state their rates in published brochures and leaflets, and on their websites, and you may wish to use these.

 

Statutory (judicial) interest cannot be claimed before raising your court claim. Contractual interest should be claimed at the outset.

 

Statutory interest cannot be compounded.

 

Both statutory interest and contractual interest are taxable.

 

You must understand what you are claiming and why, and be prepared to explain and reason your arguments for your calculations in a court of law.

 

Remember at present, the template letters and particulars of claim on consumeractiongroup.co.uk are for claiming statutory interest. You must amend these to your own personnal claim.

 

If you have transferred an overdraft into a consolidated loan, some of the interest added to the loan may be reclaimable.

 

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[bill-k]

VAMPIRESS'S SHORT GUIDE TO HER SPREADSHEETS

When you have opened a file, click on "File" and click "Copy spreadsheet". You will then have your own to edit.

 

At present you can only enter dates in the American style, e.g. 9/19/2006, however, they are formatted to look like 19-September-2006.

Some reports need to be printed in landscape. After clicking "Print", you should have an option to change your printer settings. Alternatively you can export your document to pdf format to print.

These spreadsheets are simple to use, and stored online so that you can access them from any computer with internet access, invite others to share them with you, and hold online conversations within the spreadsheets themselves. This is why I have chosen this particular software.

 

If you prefer to use other software, feel free to use the calculations used here. You can also export these documents as csv, xls, pdf, ods or html if you wish.

 

If you need to export to Excel, there is a little work involved as some of the formulae will not export correctly and will show as errors in Excel. If you want to use Excel then some of the formulae will have to be manually copied is all. You should save your own Google version of the spreadsheet, then you'll be able to double click in the cells that haven't exported correctly to read what is in them, You can then type this formulae into your Excel spreadsheet manually.

Remember - "Ctrl + Z" will undo your last entry made if you feel you've made an incorrect entry. General spreadsheet assistance is available in the Google help within the spreadsheets.

 

 

Spreadsheets 1 to 21 will help you calculate a refund of charges, the interest charged by your bank to you in respect of those charges, and any statutory or contractual interest you may be entitled to claim on those amounts.

 

Advanced version spreadsheets estimate the portion of the interest that the bank has charged to you that relates to the charges they took from you. This requires you to enter an estimate of the average overdrawn balance during the period the interest covers. Use the last date of the period the interest covers. Also enter any interest-free overdraft that you may have had. If you don't have this detail, or it is too complex, please use the simple spreadsheet and decide whether to claim all, none, or a fraction of the interest they have charged you.

 

Advanced versions of the credit card spreadsheet assume charges are the last to clear from your statements. Check your T's and C's for information on allocation of payments.

 

Statutory interest can only be claimed when raising a claim. Contractual interest should be requested with your first letter to the bank, and subsequent letter before action. Change the interest rate from 8% within the spreadsheet you save if you are claiming contractual interest to your bank's authorised or unauthorised overdraft rate.

 

Calculations are different in Scotland. Please ensure you use the correct spreadsheet.

 

Ensure you have entered all dates and rates correctly, typing over what has already been entered for example purposes. Ask a family member, friend or colleague to check over your calculations or assist you if you are unsure.

 

Spreadsheet 22 will help you calculate your costs to claim in court if you have been fast-tracked. Ensure you type over the data already entered for example purposes.

 

You are likely to need to insert rows here. Ensure the sum calculations include any inserted rows.

 

 

Spreadsheet 23 will help you to detail to your creditors your income and expenditure within a given period, and highlight the amount of money available that you can use to repay them. Thanks to Jonni2bad for this spreadsheet.

 

Spreadsheet 24 is to help yourself with cashflow from one period to the next. A period is likely to be a week or a month.

 

Spreadsheets 25-27 will help you calculate any interest included in a consolidation loan that relates to any penalty charges and interest paid on those charges that have been included in the loan. Enter the details of your loan at the top of the spreadsheet and view details of what you are claiming at the bottom.

 

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[lvlykt]

Hi,

 

my first time on here....so pls excuse if posted in wrong place etc.

 

I wanted to enquire if i can make a claim on behalf of my late husband.....for many years we were crippled by bank charges sometimes as much as £300 a month and we really struggled. If he were still here he would be jumping at the chance to re-coup some of the fees. I hope I dont sound money grabbing but with 3 children to raise and support I have no option.

[Bailiffchaser]

Hi

you can as the partner of your husband. there is a way of doing it . Were you joint account holders ?

[smithdp]

can you claim a 'card recovery fee' of £50!!! ?

[magiver36]

Question, what is classed as an unlawful fee? bouncing a payment? a cheque?

 

Many Thanks

 

Magiver

[rainman21081980]

CHG TO 08AUG A/C XXXXXXXX

 

Is this an unlawfull charge? It's a £10 charge that comes up every so often on my statements over the past 5 years.

 

Can i claim this back?

 

Cheers

[lvlykt]

thanks for replying re my post.....the account was only in my husbands name, although my wages were paid into his account it was kept in his name.

[charliebubs]

Hiya, Does anyone know if I can claim arrangement fees and international payment charges too??

 

thanks

[ireatianu]

Hi,

How about cheque card misuse fee, can this be re claimed?

 

thanks for your help

 

ireatianu

[j1mgg]

I think i may have this wrong.

 

What i am looking at is i am owed £280 by Capital one.

I am looking to add interest but not at the statutory rate of 8% more like the rate that they charged me of 29% on money owed is this possible.

 

I don not have statements just a list of charges with dates.

 

Thanks for any help:)

[nealdeal]

can I claim charges past the 6 years? I have lots of charges from the 90's.

[Hedgerow]

Hi neal deal,

 

Have a look at these links for info for charges past the 6 year mark and see if there is anything that is of relevance to your claims.

 

Best of luck

 

Hedgerow:)

 

If I come across anything else i'll let you know.

 

 

Beyond 6 years

 

Do you have charges going back more than 6 years?

[60812]

Any ideas about reclaiming interest on an overdraft where i'm within the limit?

[Hedgerow]

Hi 60812,

 

The only advice I can offer you at this time is what I have used to calculate interest using the 6. Interest calculation spreadsheets

 

I have only worked out interest based upon the statutory 8% for each penalty charge and the days lapsed since the offence.

 

Best of luck working out your interest and charges

 

Hedgerow:)

[rubber duck]

can I claim charges past the 6 years? I have lots of charges from the 90's.

 

 

hi thre

yes you can go back up to 6 years even if the bank account is no longer open!

[rubber duck]

Due to a little confusion, I am posting this to hopefully clear up some points.

 

You can claim unlawful penalty charges.

You can claim any interest that was taken from your account in respect of those charges.

These added together is the total amount taken from you that you wish to be refunded.

 

You can then add interest if you wish.

Statutory (judicial in Scotland) interest is to be claimed only when raising your claim in court and is currently 8%.

Statutory interest is in place for circumstances where contractual interest does not exist. If you claim contractual interest you must add this at the start of your claim and amend the template letters according to your arguements.

 

There is a debate about whether or not contractual interest exists. Please do not let this debate cloud your claim. If you do not understand or cannot argue the points of law, then simply avoid the subject. It is not a necessary part of your claim. If you do wish to take this route there are many users who are willing to assist you.

 

The fight is for banks to refund unlawful bank charges.

 

If you have Google access, here is a spreadsheet to clarify the points made.

Google Docs & Spreadsheets - claim

(This is for example purposes only. Please use spreadsheets from the library or my Chambers or other users templates such as Mindzai's to assist in building your own spreadsheet of calculations.)

 

 

I hope this helps.

 

Hi there..

can you please tell me if i can claim for Mortgage default/late payment penalty fees too??

[jojo2605]

This might be the daftest question asked so far on this website but here goes:

When I calculate the amount owed back to me do I take away from each individual charge the accepted amount a bank should be charging?

I.e. I am charged for a failed direct debit attempt £35; say the acceptable and justifiable amount was £4.50, am I claiming the unacceptable £30.50?

It seems I am falling at the first hurdle!

[Advoc8]

No, you claim back the whole amount. The bank won't tell you what the actual cost is so there's no way of working out what's 'reasonable'.