Lady Jayne V Barclays

[Lady Jayne]

Hi guys

 

I,m a little gutted as i sent my first letter to Barclays before finding this site, i followed a template from moneysavingexpert and i requested the 8% interest as was suggested on that website. From reading your FAQ's and relevant posts, it appears this was not a good move and makes me look like i have no idea what i'm doing (which is probably a fair assessment at this time - but hopefully not for much longer). I believe I could have calculated interest at a rate of 9.9%, as i have a barclays additions account. As yet no responce from Barclays!

 

... what do you suggest i do now????

 

Thanks for any advice/help in advance

LOL

Lady Jayne x

[torigirl_uk]

Don't worry I did exactly the same thing - Barclays never settle until the court stage (well in most cases), and you can add the 8% when you send out the LBA, so really thats only a few weeks away for you!!!

I'm now at the MCOL stage and adding the interest hasn't adversely affected me yet!!!!

[Lady Jayne]

Thanks for that Torigirl, was feeling a bit of a numpty to be honest:rolleyes:

[torigirl_uk]

Me too when I'd done it, but can't change what I've sent them and the courts only are really only bothered with whats sent to them on the MCOL or N1 form. And who know everything about this process when they start?!! We all make mistakes, but your's and mine isn't huge!!!

[bitingback]

Afternoon Lady Jayne,

 

Seems you have settled in here now.

 

There is nothing inherently wrong with nemtioning the section 69 interest 8%, but really you are not entitled to claim thiss till you file at court.

 

The 9.9% additions account interest is a diferent beast however. You can claim the interest you paid on those charges that you are claiming only. As you can imagine the maths on that is a pain and many (including myself) don't bother as the numbers are not really worth it.

 

To set the record straight when you send the Letter Before action you can ammend it to let the bank know you want a refumd of all the charges listed and unless they comply within 14 days you will file a claim which will include (section 69) interest at 8%.

 

Hope it helps and regards

 

BB

 

Any advice offered is my own opinion and if you are unsure always seek further clarification.

If you found it helpful please click my scales (on the left).

[cherriesfan2001]

Can someone advise me what MCOL stands for? I didn't ask for the interest but mentioned that i may request it... Have I messed up too? Barclays have written to me twice with holding letters, enclosing the complaints leaflet but havent offered me a good will genture amount yet.. I need to get the Court ball rolling I think... Is this correct?

[Guest Mumofthreeboys]

MCOL is Money Claim online.

 

If you have sent the relevant letters and the LBA deadline is up, then yes, file your claim.

[pt2537]

Hi

 

MCOL stands for money claim online which is the online courts service.

 

dont worry about the interest as its only applied when you lauch a claim in the courts, if you have sent the bank a preliminary letter asking for the charges back giving them 14 days to comply and then you have sent a Letter Before Action giving a further 14 days if the bank hasnt refunded you the money by t he end of that time frame then its off to court and then you can add S.69 interest at 8%

 

i hope this helps

 

 

regards

paul

[Lady Jayne]

I have received a letter back from barclays, stating that they are looking into the matter .... and expect to get back to me by 16 APRIL 2007.

 

I don't think i'll be waiting for a reply, first deadline up tomorrow, so LBA being typed at the moment, ready and waiting to be posted!

[bitingback]

Good for you M'Lady,

 

Stick to your timetable, this your claim after all.

 

Any questions just shout.

 

BB

[Lady Jayne]

Thanks bb

 

will do!

[Lady Jayne]

LBA posted

[bitingback]

Well done M'lady,

 

T minus 13 days and counting then.

 

BB