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Badgerset v Halifax *SETTLED IN FULL*


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Hi everyone

This is my first posting. I have already written to Halifax requesting return of £800 plus £455.38 interest but I think I may have calculated total interest on my overdrawn account. Can anyone tell me (in plain English) how to calculate the interest which is reclaimable.

The response from Halifax, by the way, was to say that they have up to 8 weeks to investigate my complaint and very kindly sent me a leaflet about their complaints procedure.

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Ignore their standard 8 week response letter and keep to your timescales. Have a look in the template library on how to claim the interest part (not 8%) there you will find a clever spreadsheet which should do all the calculations for you.

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A prudent question is one-half of wisdom.

 

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Thanks Jowalshy for the advice. I have now entered the info into the spreadsheet but still confused by the interest part. The yellow column on the right only seems to add the interest if the account is overdrawn (column I). Is this correct?

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Hi Badgerset, yes that is right. You could always go for the contractual interest. Use Vampires spreadsheet and change the interest rate to 28.8 (this is the current rate of interest charged by Halifax for overdrafts I think). Just remember if you are claiming the contractual interest at prelim stage then you can't do 8% at MCOL stage (I think thats right)

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A prudent question is one-half of wisdom.

 

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Sorry Badgerset, forgot you had already done prelim. When I calculated my interest bit I was in credit alot of the time so the total interest only worked out to be about £20. Try sending LBA with a revised schedule of charges stating that you will be claiming interest at 8% if you are forced into making a claim. As for the contractual interest, use the Vampiress spreadsheet and see what the figure comes out at, if it is near the amount you stated in your original request letter, go for it, but remember I don't think you will be able to claim the 8% at MCOL on top of contractual.

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

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  • 2 weeks later...

Yes give it the 14 days then on the 23rd April, you can file at court.

 

Have you decided wether to do mcol or N1?

 

It is worth having a read of this before.

 

http://www.consumeractiongroup.co.uk/forum/site-questions-suggestions/71369-getting-mcol-right.html#post614610

HOW TO...DUMMIES GUIDE TO CAG...Read here

STEP BY STEP GUIDE...Read here

F&Q's... Read here

EVERYTHING YOU NEED THE A~Z GUIDE...Read here

 

Go to our Cag Toolbar Download page here

 

Please don't forget this site is run on DONATIONS If this site has helped in any way, then please give a little back. ;-)

Any opinions are without prejudice & without liability. All I know has come from this site. If you are unsure, please seek professional advice. .

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No. They didn't give you any chances when they took your money. Have you registered with MCOL yet or are you N1'ing?

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

:D

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MCOl = Money claim on line. This is means you can fill in the forms online, pay the court fee and MCOL issue all the papers for you. N1 = you get the forms (I think there is one on this site somewhere), you fill it in and then take it or post it to your local court. N1 gives you more space to write down your particulars of claim while the MCOL is a bit restricted. All the details are in the bank templates library.

[sIGPIC][/sIGPIC]If you think my post was helpful, please feel free to click my scales

 

 

A prudent question is one-half of wisdom.

 

:D

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Thanks for the advice. It seems N1 is the best route to go???

 

In this morning's post I received an offer from Halifax of £631 against my claim of £920. Do I now reject this, giving them another 14 days to repay in full? At what point do I need to register my claim with the court?

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Phoned Halifax this morning, as suggested in their Full and Final settlement letter and told them that I would only settle for the full amount of £920. They agreed immediately and promised to put this into my account within the next 14 days.

 

Thanks for all the help and advice. Will make donation as soon as I receive money.

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CONGRATULATIONS

 

Don't forget the SURVEY too!!!

..

.

 

Opinions given herein are made informally by myself as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

 

 

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CONGRATULATIONS....!!!!!

 

Thats great, Enjoy your money... :D :D

HOW TO...DUMMIES GUIDE TO CAG...Read here

STEP BY STEP GUIDE...Read here

F&Q's... Read here

EVERYTHING YOU NEED THE A~Z GUIDE...Read here

 

Go to our Cag Toolbar Download page here

 

Please don't forget this site is run on DONATIONS If this site has helped in any way, then please give a little back. ;-)

Any opinions are without prejudice & without liability. All I know has come from this site. If you are unsure, please seek professional advice. .

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