RBS max claim amount,**won**

[HydraUK]

OP has pm'd me and now has RBS Litigation address, but for the un-initiated it's -

 

RBS Litigation

1 Princes Street

London

EC2R 8PB

 

With regards to your account being held in a Scottish branch....you could request it be moved to one more local.

 

But that matters not, as posted previously, you live in England and now have an English address to serve a claim.

 

The limits for the English system are -

 

upto £5k (not including sec69 interest) - Small Claims Track

£5k t £15k (again, not including sec69 interest) - Fast Track

+£15k or special situations - Multi Track

 

If you are claiming interest other than sec69 then this gets counted from the outset (sec69 is awarded at the discretion of the courts) and can affect your Allocation.

 

So basically if your £4.5k claim includes any Contractual Interest, or you are only claiming sec69, then you will be in Small Claims. If you intend to add CI to the £4.5k then you will be looking at Fast Track...

 

Hope that helps

[HydraUK]

Yes

[HydraUK]

Sec69 and Contractual are two types of interest you can claim.

 

Section 69 of the County Courts Act provides a 'statutory' 8% interest, daily, from the date of the cause of action (i.e the charge being applied). This is the bog-standard rate we have all been claiming and is applied after judgement, at the discretion of the court (not heard of anyone NOT getting it tho?)

 

Contractual rate (or CI) is the rate the bank charges you for borrowing. This is divided into two schools - The Authorised and Unauthorised.

 

Authorised is the rate at which the bank lends you money in an authorised overdraft, about 16.8% for RBS. Unauthorised is...well you can probably guess that it's the rate they apply when you go over-limit, and its around 29.8% I believe.

 

There are a couple of threads that go into this in depth, but the basis of claiming CI is the principle of 'mutuality and reciprocity' which means, in a nutshell, 'I will do unto you as you have done unto me.'

[HydraUK]

TAff aka hydra

 

Take that back! I ain't no sheep worrier! (JK T4FF!! lol)

 

He just wanted the credit while I take the rap!! hehe (BIG RASPBERRY NOISE)

 

 

congrats