Onedevil v Natwest

[onedevil]

Hey all,

 

so i'm totally confused about the whole interest charges....there are a lot of conflicting messages.

 

In the FAQ it says don’t apply for interest charges in the prelim letter, yet in the prelim letter it says;

 

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

 

So what do i do? I have on my statement loads of interest deductions every month for money ranging from 40p up to £23, these charges are all due to having an overdraft, i understand that you cant ask for the money at this stage for interest i would have received for not having the money in my account to date, i think??.but can i claim for interest taken for going into my overdraft?? .......CONFUSED or is it just me???

 

anyone out there that can help please???

[lordi234]

just put intrest on aswell as your charges they may just repay the charges just send it and hope for best..

[onedevil]

ok so i only have £271 of charges (not much compared to some but still something) i have £101.36 in interest charged for the overdraft, over the last 5 years, now do i add this to the prelim letter??....anyone have a answer (anyone else done the same?) or am i going to mess the claim up if i include the interest charged for my overdraft???

[gizmo111]

Hi

 

You claim the portion of your overdraft interest that you have been charged at this stage.

Whe nyou get to the court stage then you can add on the 8% statutory interest.

 

Good Luck

[onedevil]

Thanks, but the £101 is the total interest i have paid over the last 5 years, how do i work out the proportion of the interest that is because of the £271 of charges? Do i use one of the spread sheets???

[bitingback]

Hi Onedevil,

 

thats when the maths gets to be a bit of a pain, and also considering the values may not be worth the extra bother. You might want to have a look at the advanced spreadsheets

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

 

Best of luck

 

BB

[onedevil]

Thanks for the advice, i have sent it off with out the interest, so shall see what happens, thanks!!

[Parkvale]

onedevil,

I realise you have sent your claim off, but have aquick look at this thread.It's very interesting. http://www.consumeractiongroup.co.uk/forum/natwest-successes/67250-court-thursday-contractrual.html