Whiskas v Nationwide

[Melon Farmer]

I think you need to be more specific - I have been in dispute with NW since Oct 06 - yes you will get 8% simple interest once claimed is filed in court, but other people are claiming for contractual interest which is a much more complicated claim. (@ 7.75% authorised compounded and 24.9% unauthorised compounded interest).

I never applied for the compounded or excess overdraft interest. You've got a lot of calculations if you're going to go down that path, and a simple mistake could render the claim invalid. I wouldn't attach any interest until posting the MCOL, and then only attach the 8% to the charges.

[MilkTrayMan]

Hello whiskas!

...I am really hoping they don't close my overdraft facility (which is a reducing overdraft) and use my winnings on that.

???...Which bit of "reducing O/D" = NO O/D eventually, are U confused about???

Unless U have an account that offers 0% Interest on an O/D (A+L offer one I believe), then U can expect to pay for the service.

The % Interest is often MORE than U would have to pay on a Personal Loan and also MORE than the Bank offers as a return for investing in their High Interest Account.

It therefore follows that it is more financially prudent to clear an O/D BEFORE using any spare income to furnish expenditure a Personal Loan could deal with, or BEFORE investing in a Deposit Account.

Your choice of course!

[MilkTrayMan]

...There is a lot of misinformation about the claim procedure going around.

Where is that then???

 

Just stick your MCOL in...What about N1??? and wait the 28 days....and What if U hear something before the 28 days are up??? When you click 'Judgement by default' after the 28 days,...U can't do that if they have already submitted a defence, so what are the alternatives??? the Nationwide will apparently file a defence,...and What are their different Defences that they have used??? but then they will pay up the full amount WITH INTEREST - IF YOU CLAIM IT within a few days....Sometimes...Sometimes NOT!!!

 

I'll write a full account of my case (when I get time) for other people's benefit, and it won't have any annoying 'txtspk' in it. :grin:

...ahem!...lol...

Firstly @ mahharg...

[MilkTrayMan]

I never applied for the compounded or excess overdraft interest. You've got a lot of calculations if you're going to go down that path, and a simple mistake could render the claim invalid. I wouldn't attach any interest until posting the MCOL, and then only attach the 8% to the charges.

£100 of Penalty Charges Debited 6yrs ago = £148.02 with s69 8% Statutory Interest.

The same £100 = £379.87 with Daily Compounded Contractual Interest @ the Unauthorised O/D Rate of 24.9%AER.

The Interest on the Interest is negligible.

 

Any calculations are done by the spreadsheet used.

A user-friendly spreadsheet (v1.9 courtesy of Mindzai) that does BOTH calculations can be found in the following thread:

http://www.consumeractiongroup.co.uk/forum/general/51736-excel-contractual-interest-spreadsheet.html

[MilkTrayMan]

...Have just filed with MCOL, am going to request payment by cheque when they write with an offer to try and avoid the above situation!

U will probably find that Nationwide WON'T write to U with an offer.

They will just pay several part payments into your Flexaccount without consulting U first.

That is of course, if they don't decide that your case is weak enough that they can oppose it and have it 'Struck Out'!...

[Melon Farmer]

There is a lot of misinformation about the claim procedure going around.

Where is that then???

Well, there are a lot of other people on this board who were claiming from Nationwide with almost exactly the same timescale as me, and ALL WERE DEALT WITH IN THE SAME MANNER. We were paid last week, by the same methods, at the same point of the court process. Refer to pitters or nines if you are still in doubt.

 

For a lot of the information and assistance I required with my claim, I was forced to refer to the Which forum and other friends outside of the internet who are also claimants.

 

There are a lot of people on this site who have racked up so much in lost payments that they could very easily be consider NOT be the best people to refer to for financial advice.

 

Just stick your MCOL in

...What about N1???

Who said anything about an N1? I did not see a mention of an N1 in this thread. Semantics will get you nowhere, boy.

 

and wait the 28 days.

...and What if U hear something before the 28 days are up???

Who has heard anything? Nobody I have read about on this or any other forum in the last couple of weeks has heard ANYTHING AT ALL before the 28 days deadline. You are confusing situations unnecessarily here.

 

When you click 'Judgement by default' after the 28 days,

...U can't do that if they have already submitted a defence, so what are the alternatives???

They are not submitting defences until after the 28 days have passed. Can you find an example of this, or are you just here for an argument?

 

the Nationwide will apparently file a defence,

...and What are their different Defences that they have used???

What is your point? If you are going to cut sentences up, and you are not going to read the words on the screen, how can you be of any help to anyone?

 

Nationwide have said to a lot of people that they are defending the claim as they have explained that their charges are transparent. If they believed this, they would NOT pay up.

 

but then they will pay up the full amount WITH INTEREST - IF YOU CLAIM IT within a few days.

...Sometimes...Sometimes NOT!!!

When did you claim? What is your point? Are you here to offer advice or just to troll?

 

I’ll write a full account of my case (when I get time) for other people's benefit, and it won't have any annoying 'txtspk' in it.

...ahem!...lol...

Firstly @ mahharg...

Semantics will get you nowhere, dear boy. I use a lot of internet for a on a regular basis, and have done for years. On a forum where I moderate, the use of ‘@’ to indicate that you are aiming a specific post at a specific user is perfectly justifiable, but ‘txtspk’ would have ‘U’ chastised. It makes you look childish and uneducated; exactly the sort of impression you should be steering away from when you are offering people financial advice.

 

I don’t want a fight here, but if you do, PM me and I’ll give you the URL to another forum where we can have a proper fight.

[MilkTrayMan]

Hello Melon Farmer!

I will let your last post go.

...YOU totally missed the point I was making and I just can't be bothered to express it in simple words that YOU might be able to understand.

Best of luck in any other claims that YOU may have!

[MilkTrayMan]

For a lot of the information and assistance I required with my claim, I was forced to refer to the Which forum and other friends outside of the internet who are also claimants.

There are a lot of people on this site who have racked up so much in lost payments that they could very easily be consider NOT be the best people to refer to for financial advice.

 

On a forum where I moderate...

 

I don’t want a fight here, but if you do, PM me and I’ll give you the URL to another forum where we can have a proper fight.

Other CAG Members may wish to comment??

[Melon Farmer]

Hello Melon Farmer!

 

I will let your last post go.

...YOU totally missed the point I was making and I just can't be bothered to express it in simple words that YOU might be able to understand.

 

Best of luck in any other claims that YOU may have!

You are not commenting on the items being discussed in the thread.

 

By implying that I 'may not be able to understand your simple terms' as your misguided attempt to discredit me, you are dragging a thread off-topic, while disturbing your own credibility.

 

I, on the other hand, have just completed a successful claim with the Nationwide, and my extended presence here is to help other people with their progress who are in the same situation.

 

If anyone would like to conatact me via PM for help with a claim on a personal level, I would be more than willing to offer all the advice I can. Otherwise, I can be contacted direct by e-mail on .

 

Please do not see this petty squabble as anything other than a member with a big post count throwing his weight around; my intentions on this forum are the same as they have always been - to find the advice from experienced claimants that will help with my own claim and then to pass the experience onto others for their benefit.

[Melon Farmer]

Other CAG Members may wish to comment??

No aggression intended, I just don't want to see this forum turning into a pointless slanging match.

[livelylad]

Please keep this thread on topic, gents lets not let it degenerate into a rather pointless arguement. Thank you.

[redsue]

I, on the other hand, have just completed a successful claim with the Nationwide, and my extended presence here is to help other people with their progress who are in the same situation.

 

Me too.

I was simply trying to make a point that NOT all claims are the same. YOU chose not to add compounded interest, I on the other hand did.

Nationwide have paid me 7.75% compounded interest.

I appreciate you are indeed trying to help people - me too - as well as Milk Tray Man.

Good luck with any other claims you may have.

[whiskas]

Hi, I have received my Acknoweldgement of Service with details of Nationwide's solicitors "eversheds" and contact details. Do I need to email them a copy of the spreadsheet I have sent with my MCOL claim???

[jonni2bad]

There's no harm in doing so, but if you have sent one to court they should forward a copy for you.

[julien35]

Good luck Whiskas... you are just a few days ahead of me.. been told I will receive the acknowledgement some time this week.. I will keep an eye on your thread

 

Julie

[whiskas]

Thanks guys, I think I will email Nationwide's solicitors a copy of the spreadsheet just to make sure.

So...i received my acknoweldgement of service and Evershed's (NW's solicitor) have ticked they are going to defend.

Feeling REALLY scared now! Do I just sit tight? It's dated 30th April so I gather they have 28 days to prepare a defence??

[jonni2bad]

They only tick that box because there isn't one that says...

 

"Will pretend that we are going to defend in order to scare the litigant and put pressure on them for no reason, when in actual fact we have no intention of appearing in court"

 

[whiskas]

Any ideas? NW have defended the claim with evershed's details. Getting really nervous now at the prospect of going to court!

[xjrandy]

They acknowledged my claim on 18 april and the money arrived on 17 may about 5 days ahead of the 28 day deadline.

 

The first i knew about it was that they entered a defence on MCOL - the defence was that they had paid up

 

Please note though - you HAVE to be prepared to go to court if necessary, Nationwide seem to be paying up before the court date but it's not an absolute guarantee.

[whiskas]

Ok...time up on monday, hopefully will see some activity in my account in next few days. Fingers crossed!!!!!!!

[whiskas]

Sorry...just having a blond moment...looking at the dates you put in your previous post it was 4 weeks and 1 day after acknowldgement you got your money but you say it was 5 days before 28 day deadline. Just confused!

 

On my acknoweldgement they had put a cross in the box to say they would defend. Is it twenty eight days from the date of acknowledgement i.e 30th April so should be 28th May??

 

Hope this makes sense!

[xjrandy]

Sorry...just having a blond moment...looking at the dates you put in your previous post it was 4 weeks and 1 day after acknowldgement you got your money but you say it was 5 days before 28 day deadline. Just confused!

 

Hehehe me too! MCOL told me that the deadline was midnight on 21/5 and i figured they'd be the one's to know - i tried working it out and failed miserably.. not 28 straight days and not 28 working days either....

 

in the end, who cares, the buggers paid up!

 

I hope they do for you too

 

Andy

[shagtastic]

hi there,

 

i'm at the MCOL stage where NW have acknowldedged the claim but not received any paperwork yet (been checking status online) when they paid you did they pay the court costs too or do you haveto apply seperately?

 

well done btw

 

 

shaz

[xjrandy]

hi there,

 

i'm at the MCOL stage where NW have acknowldedged the claim but not received any paperwork yet (been checking status online) when they paid you did they pay the court costs too or do you haveto apply seperately?

 

well done btw

 

 

shaz

 

The paperwork takes a few days to come thru the post so don't worry about that, the court charges were included automatically in my case, i didn't need to do anything seperately.

 

Good luck

 

Andy

[whiskas]

Hi there, I notice you got your acknowledgement of service on 30th of April....same day as me so we are on the same timescale.

You heard out yet??