Advice Needed - Getting Lost Now

[biggeorge]

Been sorting out my account and sent the 2 letters to the bank, Halifax.

 

Due to start court tomorrow but after reading here for a few hours i'm now lost in the interest I can ask for.

 

I used a calulator online to add my charges and it calulated the interest

for them, Link Here:

Bank charges: Reclaim them, they're unlawful, so you can get six years money back | MoneySavingExpert: Consumer Revenge, Credit Cards, Shopping, Bank Charges, Cheap Flights and more

 

Total charges £1320 over 6 years (can i now claim pass this time)??

Interest 376.56 (with the calculator on that link above 8%)

Total £1696.56

 

Bank have offered to pay the £1320 but no interest and now all i'm seeing is you can ask for 16%, is this on all the charges or just when you go to court?

 

If this is on all charges do I have to write back to the bank allowing them another 14 days with the new interest I have calculated

If it is 16% on each charge its a massive jump to what they owe.

 

Any advice gratefully received, don't want to make a mess of things tomorrow.

 

TIA

 

George

[Chuchu]

Hi George,

 

The interest you can charge of up to 16% is only when it goes to court. So if they have offered you the full amount before you have done your MCOL then definitely take it!!

[doo]

When you file court action either N1 or MCOL you are entitled to claim 8% statutory, if you put your charges into the simple excel spreadsheet it will work it all out for you. Have you not done a spreadsheet yet?

[biggeorge]

Yes I did a spread sheet with the calculator above in my 1st post.

My figures are for 8% with this.

 

Its all this mention of 16% instead of the 8% that got me confused.

 

 

Going to call them tomorrow and give them last chance to pay all or will start

the next step with the small claims.

 

When I do the small claims I can then claim 16% instead of the statutory 8%,

 

Please say this is correct

 

George

[biggeorge]

HELP - Totally lost now and think I may have made a mistake in my first 2 letters I sent off.

 

Should I have included the interest for each charge thats on the spreadsheet?

 

I sent the 1st letter asking for my money back, £1320 plus £376.56 in interest Total £1696.56 plus a sheet showing all charges and interest.

 

Sent off 2nd letter and finally got an offer of £900 then a further offer on the phone of £1320, all my charges but no interest.

 

Now this is the bit i'm lost at, some people saying send off letters with interest like I did and others saying not to, only at the court stage.

 

Should I take the offer of £1320 or start court, Will I then get the interest

for each charge, £376.56 is a lot of money to me.

 

Regards

 

George

[TimsGirlfriend]

Hi, from what I understand you can only apply interest if you get to the court stage. You can enclose it on the schedule of charges you send with the LBA as i understand that this is a kind of warning of what they would have to pay if you go to court. If they have offered you the full amount of the charges less interest then you really should accept that as I understand the court take a dim view if you have refused to the full amount back just because they haven't added the interest. If they have not offered the full amount then by all means proceed to court. I think thats right, you may have to check with someone else!

[biggeorge]

Many many thanks for your quick reply.

 

After further reading finally understanding it all.

 

£1320 back isn't to be laughed at so time to phone them

 

George

[TimsGirlfriend]

Good Luck! Halifax refused to pay my claim in full so I am at the court stage but don't take anything less than the full amount!

[biggeorge]

Hi, All sorted.

 

Phoned them back and should have the offer in writing in the next few days

and the payment of £1320 in 7 days.

 

Result

 

George

[jaxads]

Well done Biggeorge.

 

Happy spending!!

 

Jaxads x