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Ripoffstopper - V - Natwest Now Going Back 20 Years!


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Mcuth has just decided to settle without CI. You might like to read his thread. He was due in court soon.

 

http://www.consumeractiongroup.co.uk/forum/rbs-bos-successes/10582-mcuth-rbos.html#post317987

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To be honest I can't see a court in the land being persuaded that turning a claim of under 3K into one of 160K is within its equitable jurisdiction to award compound interest. Although I'd love to see the look on Stuart Higley's face if he received such a claim.Statutory interest would only be around 3.5-4K. I assume this figure is at the unauthorised rate. What would the authorised rate amount to?

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To be honest I can't see a court in the land being persuaded that turning a claim of under 3K into one of 160K is within its equitable jurisdiction to award compound interest. Although I'd love to see the look on Stuart Higley's face if he received such a claim.Statutory interest would only be around 3.5-4K. I assume this figure is at the unauthorised rate. What would the authorised rate amount to?

 

 

 

Why not?

 

Since when did the number of 0s or the number of years make any difference to a claim of this nature?

 

Put it another way, can you see a Court allowing a bank to profit by this amount because of unlawful charges, assuming ripoff can provide proof of this and that the bank cant hide behind the Limitation Act because of the concealed nature of their charges?

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Guest NATTIE

Stuart Higley works for NatWest Customer Relations Unit, his name is on the letters, and from most people is a nice bloke to talk to, which i have no doubt.

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Since when did the number of 0s or the number of years make any difference to a claim of this nature?

 

 

 

 

Since the judge has a right to decide what is a fair rate of interest to award. You've got to be realistic in what you expect a judge to do in this situation. 160K would multi track the claim and leave ROS to open ended liability in costs.

 

Put it another way, can you see a Court allowing a bank to profit by this amount because of unlawful charges, assuming ripoff can provide proof of this

 

How is he going to prove that? The chances are the money was relent at the authorised rate or even for loans at a much lower rate.

 

I think a sensible approach would be to go for compounded at 8% giving interest around 6-9K. This would keep his claim in fast track and the claim would be more realistically acceptable to a judge.

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Guest NATTIE

i have rates leaflet to hand which i know is out of date as it is December 2006 but under 1k 19.99%, 1k to 4999 is 19.41% and over 5k is 17.37%

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£70K sounds good to me.

 

You would need to work out the amount of compounded interest on each individual claim from the date they were applied to the date you filed at court, then add up each individual figure for each individual charge to discover the total amount of compound interest you want to claim.

 

Add this to the amount of charges and this would be the amount on which you would base your claim.

 

Then you could decide at what rate you wanted to ask the Court to award your s.69 interest. That would be entirely at the courts discretion to decide though.

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Thanks Noom, Zoot & Natt. We've got people for dinner tonight so I cannot stay and don't wish at this stage to let our friends know what I hope to achieve. So I won't be posting again tonight for a while.

I appreciate your input.

Kindest regards ROS

RiPoFfStOpPeR

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Hi Zoots, I've factored in 19.9% and the total claim becomes £47.7K rather than £160.30K @ 29.7%.

 

Now I'm not greedy, just hurting. Because, as a result of the NatWest charges back in 1998-92 I was not able to pay a modest VAT bill that was due.

 

HM Customs & Excise would not take a few post dated cheques from me to settle the debt and they made me bankrupt. I used to be self employed you see - though we're not talking about a business account here.

 

This caused all sorts of hurt and angst amongst the family and those that my wife and I thought were friends; many of whom deserted us. Therefore if I can hurt NatWest I will be very happy. Moreover if I can really Pi** them off then I will go to bed at night happy in the knowledge that MISTER CONNETT, my old bank manager did not get the last laugh!

 

I'm sorry about the rant but..............

RiPoFfStOpPeR

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Cheers Noom, I've used, what has now become - I believe - the "industry standard" spreadsheet produced by the obviously very talented MINDI.

 

It is easy to use and I like the results.............yipee its like Monopoly money only its real and it will be mine !!!!

 

Cheers

 

And how about my new persona? I finally got round to sorting myself out.

RiPoFfStOpPeR

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A person is only as big as the dream they dare to live.

 

 

Good things come to he who waits

 

 

Its your money taken unlawfully from your account and you have a legal right to claim it back.

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Thanks Parkie, for those links.

 

I had seen the A-Z but not the other help section. Is there a separate list to help with finding our way around the site. You see, until I read Photoman1's instruction to Mendipman to subscribe to a forum in order to receive updates, I wondered how you guys keep tabs on everything.

 

As I'm about to embark on a claim from 1989 to 1992 against NatWest including CI, it would be nice to know how the other "statute barred" claims are going. I have seen that you, Likelylad, Mcuth - though he's settled, Josamolly and probably loads more are claiming and I've found it difficult to find and then follow all the threads.

 

Cheers ROS

RiPoFfStOpPeR

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OK guys, I am going for it! I'm still waiting for copy statements from NatWest but as I have plenty of statements from 1988 to 1992 I'll put a toe in the water and claim for just a few charges from 1992 and if I can get a pay out for a few charges + CI then I reckon they will have set the precedent for a larger claim which will follow.

 

Is there a preliminary letter template available that covers 6+ years and CI? I've looked at a lot of threads and cannot find one. I'm happy to use another member's letter and adapt for my particular case though I would like it to contain the core arguments for claiming CI and getting round the Statute of limitations.

 

I shall also start a claim against A & L for 6+ & CI so a good draft letter is most important to me.

 

I'm sure you great CAGers will come up trumps for me. Cheers ROS

RiPoFfStOpPeR

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:mad: Hi Nattie, i wonder if you can help me with something please?:mad:

 

I wrote to NatWest in March asking if they could provide copies of statements from between January 1980 & 1992 and if so, what they would charge. I wrote to Alex Lyons "Data Protection Manager".

 

In return I received a standard form with tick boxes on it informing me that for £5 they could supply the information for all accounts requested.I sent my cheque and a few days later the same form came back to me with my cheque and another tick box marked.

 

They now wanted this info: "From the information provided it is not possible to trace the accounts requested". (I had given them account numbers). "NatWest uses only numeric code for the identification of accounts and without a valid account number and valid sort code we are unable to locate a closed or open account. Please let us know your sort code or branch name and account number and the dates when your account was opened and closed"

 

So I sent the form back with my cheque, the sort code, branch address and reiterated my account numbers. I also stated that I didn't know the dates the accounts were opened but believed they were closed in the last quarter of 1992.

 

So imagine my surprise when I get another standard form with tick boxes requesting the same information that I had supplied a few days ago - my cheque and covering letter giving the details requested were also returned. This letter signed by Joyce Tudor dated 20/4/07 received 5/5/07.

 

I am disgusted in NatWest 2 weeks to send a negative reply. But the negative response is after I've supplied the information requested.

 

:mad: So Nattie, what should my next step be, please advise? Cheers ROS:mad:

RiPoFfStOpPeR

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  • 1 month later...

Hi Ros... I see you are starting a BIG claim against Nastywest. What stage are you at right now as I notice you haven't freshened up your thread for a while?

 

I can imagine the anger you feel toward Nastywest. It's a horrible to be screwed over by a bank that takes YOUR money without asking and causes you more problems and worries. I hope you have success with your claim.

 

The link you asked for on Jos's thread is here:

 

http://www.consumeractiongroup.co.uk/forum/natwest-bank/49630-maxine989-natwest.html

 

I have three claims against Nastywest (2 bank accounts and 1 credit card). 1 won, 1 going to court on 2nd July and 1 going to court on 16th July.

 

It's all an up hill struggle with Natwest and their lawyers, Cobbetts... or Cobblers as many of us like to call them.

 

They have many changing tactics that they use throughout the course of a claim. I am no expert but I will be happy to help with anything I can.

 

Maxine :-)

Moodle

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What's happened to ROS?

 

I had 2 Natwest business accounts

One from 1985 to 1991 (Ltd company made insolvent)

Another from 1985 to approx 1996... then changed to another bank

still running today

We had overdrafts and loans of many 100's of thousands

The charges was astronomical

 

I need to try and get my statements for all those years

any help... anyone...... will start my own tread shortly

KBO

If you can't fight, wear a big hat.

 

Halifax... 2 successful claims....£518

 

CitiCards..... judgement and cheque (26/7/07) .... won £900

 

RBS business..... .....stay lifted reissued N1..... won £2105

 

Midland1 business.1996/1997.. first letter (27/6/07)....£1470

 

First Direct...... first letter (30/6/07).... £839.... stayed

 

plus another 13 banks/business/cc's to come for £10,000 plus.

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