Very Troubled versus RBS

[lonepigeon]

I am concerned that having asked for interest alongside my charges last year, using moneysavingexpert calculator, of I think statutory interest (judicial interest in Scotland), this may land me in a difficult situation if my reclaim case goes to the courts here in Scotland.

 

RBS have offered me half of what I have claimed in charges. When on the phone with customer relations trying to strike a deal before my Rejection/Letter Before Action is sent in the next days, the women I spoke to seemed unmoved totally by the fact that I will move to take court action.

 

Is this because I have claimed interest when I shouldn't have, and as such, the judge will throw it out because I have been claiming interest in the preliminary letter, and Rejection/LBA, when statutory or judicial interest can only be claimed in court? Am I likely to lose because I have claimed too much than is fair; so my case is not a solid one? CAG says I can only claim such interest when raising my claim in court!!!

 

Consumer Action Group in all the templates says do not claim stat/jud interest before court, the RBS customer relations women said they didn't pay back interest, only money saving expert (MSE) last year encouraged people to do so in their templates letters and even provided a calculator for such a task!!

 

If my case is unstable, then should I?

1) Ask for only my charges in my Rejection/LBA - so move the goal posts because my original position is not legal

2) Continue to ask for charges plus judicial interest (if it's enforceable in law)

 

I will do number 2 if I am on the right ground here.

 

I've been through this website loads, but apologies if this has been asked before!

 

Thank you all

[stevokenevo]

I would send them a new request just for the charges, then after 14 days send an L.B.A just for the charges then on the 28th day issue the court claim for all the charges + the 8% interest.

It may take you slightly longer, but it would clear your feet and get you back on track.

This is just my humble opinion though, and someone with more experience may know better.

Good Luck

[lonepigeon]

Thanks for the advice stevokenevo,

 

Just listened to the podcast on interest charges and it was quite helpful. I'd advise others to give that a shot too: http://www.consumeractiongroup.co.uk/podcast/cagcast1.mp3

 

So Stevo you reckon it's quite okay, to change what I'm asking for and just ask for the charges? Then after do as I should do and ask for the judicial interest 8% on day 28 according to the schedule? Means I'll ask now for less, then ask for more later.

 

Or,

If it is okay to change what I'm asking for I wonder if I should just go all out and follow the advice exactly on the podcast, and calculate my charges, calculate the contractual rate of interest, then finally add the judicial rate after 28 days? This would mean i'd be asking for more than I'm asking at present, as unauthorised borrowing (contractual rate) is higher than 8% for me?

 

So totally shifting the amounts I'm asking for; maybe this would be seen as the start of another claim, if I'm raising my amounts?

 

But,

The legal advice on the podcast did say that advisers used to advise people to claim 8% on their charges (which is what I've done) with the prelim letter for reclaim, and as that probably means asking for a lower final amount than I would have asked for if i'd chased contractual + judicial, then maybe I'm just as well to carry on with how I've done it so far. Meaning I just carry on with my LBA? The RBS might be more happy actually, because it means if it goes to court they will be forced to pay less.

 

So, means doing what I'm doing, and assuming as it was advice before it'll still hold water now?!

 

But as I said before, if this does not still hold strong legally then I'll look at

1) Doing exactly as you've told me to do

2) Taking my charges, working out contractual then sending prelim letter, then asking judicial interest 8% on day 28 in court papers?

 

My preferred option is no.2 if this could all be done and seen as the continuation of my claim, just with a new prelim letter.

 

I appreciate anyone's help on this

 

cheers stevokenevo and all.

[stevokenevo]

Ok, i would go with your option 2, new prelim including contractual, not sure about the 8% on day 28 though, i will need to take your word for that ;-)

 

Good luck

[lonepigeon]

hey,

 

sorry just meant to reiterate your advice "then on the 28th day issue the court claim for all the charges + the 8% interest."

 

Not thinking of sending 8% interest claim any earlier than when you said I should - just after new prelim letter with charges and contractual interest, and after LBA and all deadlines etc.

 

Anybody else with advice to help too?

 

cheers S,

[dollymop]

I claimed 8% interest at the same time as the original claim for my son. I don't think it affected the outcome. Sixteen days after issuing the initial letter RBS offered £2800 (original claim was £3300 including interest).

[lonepigeon]

thanks dollymop,

 

Adding 8% interest from the start is the way you're told to do it at money saving expert, and people seem to have had a lot of success this way. I just got a bit confused because the advice at CAG was outlining a different way to calculate interest.

 

But it seems both ways are successful - CAG and MSE - just the 8% interest from the start way is not going to see you with such a high total amount being claimed as the way CAG says you should do it.

 

So did you even have to send an LBA to RBS before you got your money?

Well done by the way, that's a decent amount you got back!

 

I'm in a real conundrum because the RBS have said I've 8 weeks to respond to their offer called "full and final settlement" (FSA timeframe the RBS say so I have to respond within 8 weeks or the case is dropped). And because I've been busy I've had no time to get back to them before now. Well that deadline looms soon, and I want to say I'm not accepting your offer, but I really don't think I'll be in Scotland for long enough if this goes the whole way through LBA, sheriff courts etc, given the time I've got to allow for each stage.

 

I just want to take what they've offered and get the rest back later when I'll be back in scotland for longer if the whole things going to be protracted. But not sure Ican just stop at this stage and start again later.

 

Any advice massively welcomed!

 

I'd also love to know if whether if I start again, I can recalculate interest using the CAG calculator and system, because that will give me a higher total, than the MSE system.

 

One more thing, the deadline RBS have given for me to respond is thursday 29th. If this is binding it's make my mind up tonight!!!!!!!!!

 

Cheers everyone, thanks dollymop

[dollymop]

Hi lonepigeon,

 

I only sent one letter stating that we considered the charges to be illegal. I enclosed a print out of all charges (£3300 including 8% interest) and mailed it off on 2 March giving them a deadline of 14 days. Sixteen days later we received a letter from RBS stating that they did not consider the charges illegal, however, as a goodwill gesture they were prepared to offer £2,800. I know we could probably have pushed for more but my son was happy to accept the £2,800. I think that we were quite lucky - there was no other correspondence or telephone calls - just the one letter!

 

Regards,

 

Dollymop