Not paying interest should I accept?

[Kiwiemy]

Hi ,got a letter from Natwest on Thursday offering full settlement of my charges £935, but I had claimed the interest they had charged me on those penalties. I did it similar to the complex spreadsheet except I put in every balance update and used the lowest overdraft rate charged over the 3 years. I believe this to be completely fair as it seems to be as accurate as you can get. The total plus the O.D interest is £1122 then adding the 8% on this again.

I am concerned, as this is obviously a unique claim in terms of how I have figured it out I might be made an example of. Has anyone else tried to do something similar or even using the complex charges spreadsheet has there been any success?.

Sent the prelim letter on the 25/2, sent the LBA on the 14/3, then corrected on error on the 28/2 and resent the LBA. I received the settlement letter on the 5/4.

Any help much appreciated, thanks

[Parkvale]

Kiwiemy,

You state you have been completely fair with them, but they still try to rip you off.

Nat West try this charges no interest offer all the time. The choice is yours. As it is a relative small sum i would send a http://www.consumeractiongroup.co.uk/forum/bank-templates-library/25716-rejecting-offers.html and see what happens. i bet they don't take to long to stump up.

Don't forget you have a legal right to claim Good luck.

[Guest NATTIE]

the choice is yours really this is your claim, many views would say no, some would say yes. It is unlikely that any claim will be given via customer relations with interest but there are the odd one or two which do. The choice is yours but you know you are on a winning team when an offer arrives

[k65]

They did the same to me, charges but no interest and they wanted to charge me more interest but would not disclose how much until they had the payment into my account, i refused their offer, that was 3 weeks ago i have not heard anything from them since, as soon as i get my head round the next stage (court claim) i intend to take them to court.

they have had ample opportunity to come to some sort of settlement i believe i have been fair with them and i am not doing anything they wouldnt do to me, yes im scared, yes i have doubted my decision, but i intend to carry on and see it through. good luck with what ever decision you take les

[Kiwiemy]

Thanks for all the advice and support, I am going to file a court claim against them. Just need to know if the 14 days has passed on the LBA claim and they have offered a settlement do I still have to send a letter rejecting the claim? If so can I file and send the letter on the same day. Thanks so much again, actually can't wait to put this through.

[fendyweather]

Go for it, be confident and you will get what is yours. Dont look back and dont be scared. Soooooo many of us are going through it, and after Ive started my claim through court, Ive had an offer in full of charges, so they know they dont have a leg to stand on. Chase them for the full lot. It will take a few months, but you will get the money. But dont expect it to be quick. Probs 2-4 months from claiming.

 

Fendy xxx

[Micky the Hippo]

'I did it similar to the complex spreadsheet except I put in every balance update and used the lowest overdraft rate charged over the 3 years.'

 

If I read that right he's charged the authorised rate on the charges and then stuck the 8% on top of that?

 

That's not right if so is it? Although the interest figure given looks right for the standard interest on charges claim

[Kiwiemy]

Why not ? That's what I paid in penalties (fees plus interest charged) plus the 8% I am entitled too when making a court claim. I am not claiming contractual interest the whole way, I am claiming the lowest rate on the charges for the period in debt where relevant.