NickvsNatwest

[Nick1_S]

Hi all,

 

have just got all the statements through for the last 6 yrs on my 3 accounts! Thay had been holding me up on my last account, the one with the most charges!

 

So anyway I have been busy reading through the forum and have been getting a bit confused over the interest issue:

 

I want to claim back the charges plus the debit interest the bank charged me plus the 8%.

 

What I dont understand is why people are including there OD balance each month and then calculating out the interest owed for the debit interest. I have used Mindzai's sheet, stuck in the EAR, it works out the daily rate from that and then calculates the compound interest from the day the actual charge was made. Am I missing somehting????

 

Also, I have succsefully recieved a few charges back off the bank through 'goodwill'. This was in the days before this type of action was popular. Shall i subtract these off my charges sheet??

 

I just want to get this right before I send off my prelim....

 

thanks

 

Nick

[laura_d]

Can't help you re the interest but if you've been refunded charges in the ast I'd most def leave them off the list unless you REALLY want to try your luck ;o)

[Nick1_S]

Update...

 

1) Statements recieved.

2) Prelim written - 14 days no reply

3) LBA sent. Over 14 days now and no replies.

4) Court next?

[Deller]

Yes if the 14 days have elapsed after your LBA issue then you must proceed with filing your claim througfh the courts.

[Nick1_S]

HI Guys,

 

can you see any problem with the particulars below:

 

My questions are

 

1) I have modified foe multiple accounts. Are there any problems with this?

2) Have i got the stat interest right? So 8% from the sheets added plus the 8% daily rate.

3) I averaged up the daily rates of the 3 sheets. Is this ok?

 

Cheers,

 

Nick

 

 

1. The Claimant has accounts xxxxxxx and

xxxxxxxwith the Defendant, both opened

2001. The claimant also has account

xxxxxxx opened 2005 2. Since 19/12/01 the

Defendant debited charges and interest in

respect of purported breaches of contract.

3. Defendant is aware of all details as a

list of charges has already been supplied.

Another copy will be sent. 4. Claimant

contends: (a) The charges exceed the

Defendant's losses caused by the breaches;

(b) The Term permitting the Defendant to

levy such charges is unenforceable under

the Unfair Terms in Consumer Contracts

Regulations 1999, Unfair Contract Terms Act

1977 and at Common Law. 5. Claimant claims:

(a) return of the amounts debited of

£4509.43;

(b) Interest per S.69 County Courts Act

1984 of 8% - £385.60 continuing at 8% until

judgment or settlement at a daily rate of

£0.21; 6. Alternatively, if the charges

are a fee for a service, then they must be

reasonable under S.15 of the Supply of

Goods and Services Act 1982. 7. Costs

allowed by the Court.

[hedgey06]

Bump............. for anyone with the 'court' experience??

[Michael Browne]

The daily rate is just your charges x 0.00022

 

£4509 x 0.00022 = £0.90p

[Nick1_S]

Progress Update.

 

I sent the LBA off on the 9/03/2007 and after 14 days i had no reply.

 

Since then i have taken a lot of time in checking my spreadsheets and getting my particulars right. I also moved house on the 1st May and had given up hope of the bank responding as it had been over 1.5 months since i had sent the LBA. So off to the court i went today and submitted my claim. However, I had some post forwarded today and geuss what, a letter from the bank dated the 1st May, making a Full and Final settlement for the full charges ONLY, not the interest I stated in the prelim and LBA.

 

I understand that i should reject this and state that court action has started. So in effect I am not giving the bank another chance to address the interest charges as in Letter 4. But they did not respond in the allocated time, so i should proceed with Letter 5 yes??

 

any thoughts regarding this would be most welcome.

 

cheers all

 

Nick

[hedgey06]

Hi Nick, I think if it was me I'd be inclined to accept - only because you've filed at court after they've sent a letter offering full settlement of the charges.

 

However, what type of interest did you claim at prelim/LBA stage? Was it the 8%? (can only be awarded by the courts), overdraft interest?, contractual interest?

 

If you want to reject their offer have a look through here http://www.consumeractiongroup.co.uk/forum/bank-templates-library/25716-rejecting-offers.html as this should should give you more of an idea of whether to accept or reject.

 

Good luck, hedgey x

[Nick1_S]

I should have clarified:

 

In the Prelim and LBA I simply stated 'interest of' but i calculated it at the contractual rate. This was supported in the schedule sheets. I did not mention the 8% as i know this is at the court only.

 

So from my reckoning they are not giving me any interest at all, not even the stat 8% i will get if i go to court.

 

They did not respond after 14 days so have not followed my terms, surely the court will see this?

 

thanks

 

Nick

[Nick1_S]

Update...

 

1) Statements recieved.

2) Prelim written - 14 days no reply

3) LBA sent. Over 14 days now and no replies.

4) N1 Filed.

5) Charges ONLY offer recieved - Rejected

5) Defence Filed by Natwest

6) AQ Recieved

7) AQ ready to send

Do I need to include a basic disclosure with my AQ?

thanks

Nick

[Michael Browne]

If you mean the Draft Directions Order, then yes it's a good idea. You've got nothing to lose by doing so.

[hedgey06]

I think that has to be your decision!! Depends what you feel comfortable with. Although personally, I'd be inclined to do so! x

[Nick1_S]

Hi,

 

do i need to send a copy of the AQ and the draft order to the Bank, even though if they are agreed by the judge then they will recieve them anyway?

[Michael Browne]

It's not a requirement but you can do so as a courtesy.

[Nick1_S]

Status update:

 

1) Statements recieved.

2) Prelim written - 14 days no reply

3) LBA sent. Over 14 days now and no replies.

4) N1 Filed.

5) Charges ONLY offer recieved - Rejected

5) Defence Filed by NatWest

6) AQ Recieved

7) AQ ready to send

8) AQ sent

9) General form of Judgement or order recieved:

Upon the courts own motion. The court has made this order of its own initiative without a hearing. If you object to the order, you must make an application to have it set aside, varied or stayed within 7 days of recieving it.

IT IS ORDERED THAT

1) The Defence be struck out. It is not particularlised in respect of this claim.

2) Uness the Defendant filea and serves a fully pleaded defence by the 19th July 2007 the Claimant be at lberty to enter Judgement.

This was by the Reading County court. If i understand this right, its good news. Hopefully they have not pleaded a defence and I can enter Judgement. Is this right?

Many thanks

Nick

[hedgey06]

Great news Nick!

 

Phone the court to see if they've filed a fully pleaded defence yet (as it states above) - if not, apply for judgement!

 

Best of luck

[Nick1_S]

Just phoned the court, and no, they have not filed a full defence in response to this order!

 

So i can now go ahead and enter for judgement. Should I do this or should I write to the bank as I have read that they do not like judgements and will probably ask for a set aside.

 

What is felt is the best approach from here?

[hedgey06]

Well, they've had plenty of time to respond the judge's orders and have chosen not to do so. Therefore, I'd be inclined to apply for judgement as directed by the court.

 

You should have a Notice of Issue (form N025A) - it's the one the courts issue when you originally file your claim. Just complete the details and take it the court to process. I very much doubt that cobbetts would apply for a stay at this stage - they've had ample time to respond!

 

Best of luck - let us know what happens

[Nick1_S]

sent off the judgement today, we will have to see how this one swings, in light of the test case. My only hope is that Readiing Court seem to have been on the consumer side in these cases.

[Nick1_S]

Well by the time i posted my response to the judgement, this whole OFT thing had blown up and i have been worried ever since. ; (

 

I phoned the court today (Reading) and I asked them if the claim was still proceeding, and they said yes, judgement has now been entered and both parties have been written to. She said they would not enforce a stay at this stage, so fingers crosses i am nearly there.

 

One thing though, on my judgement claim form N225A, i wacked on the full unauth interest of 29% that i have stipulated since the beginning on the claim (prelim, LBA, etc). I know the grounds here are a bit shaky, and i stated 2nd and 3rd fallback positions on my initial claim. How will this proceed? Could Natwest say, well ok, we will pay up but not for that unuath amount? I have not had a court hearing as this has all been pushed forward by the Judge. Can they argue the toss over the amount at this stage?

 

Cheers all,

 

i really hope we get more of these current claims pushed through.

 

Nick

[steven4064]

You gave them the choice so the court will award the interest they see fit with the judgement

[Nick1_S]

OK, thanks Steven. To be honest, to get the charges back with 8% i would be very happy. I am starting to feel a bit greedy, especially as i rejected their offer of total charges but no interest. I stuck to it but i did not see this OFT thing coming so fast.

 

Anyway, i will let you know what happens

[Nick1_S]

Quick update - recieved a copy of the Judgement sent to NatWest today, for the full amount i requested.

 

Is there anything that can go wrong at this stage, can they appeal?

 

thanks

 

Nick

 

oh yeah, Natwest also wrote to me today saying that their offer was still open - for the charges only (roughly half the amount), for the next 2 months. But i wrote to them and rejected the offer!

[hedgey06]

Best of luck Nick - let's hope everything goes nice and smoothly with the Judgement! Decent court is Reading - so let's watch this space!

 

Let us know what happens!