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Jeckle V's Royal Bank of Scotland


jecklenhyde
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just starting my claim against rbos

 

not sure if i got this right??

filled in the spreadsheet for compounded interest

Claim period 18 march 2002 - 21 august 2003

account closed! loan offered(declined), sent to a debt collection agency

 

Charges total £714.00

Compounded interest £1798.85 @33.7%

Overdraft interest £22.62

Compounded interest £49.21 @33.7%

 

Grand total £2,584.68

Does this sound right or am i missing something!!!!!

 

Anybodies help in bringing light on the situation will be greatly appreciated!!!

 

Jeckle

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Might sound like a stupid question but where have you got the 33.7% from?

 

Without looking at the spreadsheet the figures look about what they would be if you compounded interest.

If my post has been useful, tip my scales and let me know

 

Always start with the User guide!

Stuck with RBS charges? Click here!!

 

RBS CA1 £2794 SETTLED!!! RBS CA2 £503 SETTLED!!! HBOS CC £498 SETTLED!!! Barclaycard £705 (with CCI) ONGOING!!! NATWEST CA ONGOING!!! LLOYDS CA x 2, CC, LOAN ONGOING!!! HFC LOAN ONGOING!!!

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its the unauthorized lending rate as stated in the summary of my statements

 

another question can i only charge interest for the time the account was open or can i go to the date my of my claim??

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Is this a card then as opposed to a current account? 33.7% is news to me otherwise?

 

It is up to the current date and continues to accrue throughout your claim. I would advise you to use one of the spreadsheets available through this site (personally, I would recommend mindzai's) as these do the interest calculations for you.

If my post has been useful, tip my scales and let me know

 

Always start with the User guide!

Stuck with RBS charges? Click here!!

 

RBS CA1 £2794 SETTLED!!! RBS CA2 £503 SETTLED!!! HBOS CC £498 SETTLED!!! Barclaycard £705 (with CCI) ONGOING!!! NATWEST CA ONGOING!!! LLOYDS CA x 2, CC, LOAN ONGOING!!! HFC LOAN ONGOING!!!

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have used mindzai's spreadsheet v1.9

No its a royalties gold account from 2002

on the advice and charges page sent out each month with my statments it say's "the current unauthorised* rate applicable is 2.45% per month, effictive annual rate 33.7%"

 

another question can they sell you account ???

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  • 2 months later...

Sorry about the long absence

 

Have just got a reply from my prelim letter from rbs and it states that that they belive the charges they levied from my account are for providing servicies not charges for defult!!!!!

Does anyone know of any bank services that cost £714.00 for a year of my account being open????

 

Also in the letter they are offering to give back the £714.00 as a geusture of goodwill......

What i need to know is how to incorparate this rubbish into my lba, also i have old statments to prove otherwise!!!!

want to take them for all the money i can get as that is what they did to me

 

Any help anyone

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If RBoS are offering to refund all charges in full - you really should accept as opposed to pursuing them for any contractual interest. Any offer to refund all charges in full should be strongly considered. Please read this thread for further info on why CI should not be pursued on bank accounts http://www.consumeractiongroup.co.uk/forum/halifax-bank-bank-scotland/97691-contractual-interest-precedent-lost.html?highlight=contractual+precedent+lost

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I do not answer queries via PM. If you send me a PM, please include a link to your thread - any advice I am able to offer will be on your thread.

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