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NatWest Armageddon: pre-2001 + contractual!


Lord_Alcohol
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This should put the cat among the pigeons...

 

I have a claim for £3,000 for a personal account. This is from 2001 to date, plus 8% statutory. Incredibly, Cobblers are defending it.

 

Not to be intimidated by these loathsome oiks, I have now begun my action to reclaim all costs prior to 2001 plus 19.9% contractual interest. My prelim letter reads thus;

 

NatWest Customer Relations

225 Shenley Road

Borehamwood

Hertfordshire

WD6 1BR

Dear Sir

 

Repayment of Bank Charges

 

My claim is for refund of charges made prior to 2001, ie beyond the normal 6-year limit on claims, plus contractual compound interest at your current typical EAR of 19.9%. I do not intend to pursue statutory interest. The total of my claim from you is now £2,305.00 in unlawful charges to March 2001, plus £3,566.03 in interest at your current authorised rate of 19.9%. The total is therefore £5,871.03 and I ask you to refund this to me.

 

Given that it is now widely accepted that banks have been levying disproportionate penalties on their customers rather than recouping actual costs incurred through unpaid direct debits, unarranged borrowing and so on, I consider that all the charges you have made in respect of these items are unlawful. These are listed in the Schedule of Charges, which I attach. Furthermore, I do not believe it is here necessary to invoke the relevant law and case history regarding bank charges as I consider this matter and the supporting statute to be well-established. I believe that it is here sufficient to state that the charges you have levied, unless you can show that they were for actual costs incurred, are unlawful. Additionally, it has now been confirmed that your particularly high level of penalties are considered to be unfair per se by the OFT who reported on the 5th April 2006 and are therefore presumed to be unlawful in the absence of specific proof to the contrary.

 

 

1980 Limitations Act

 

This Act, as you know, removes the time limits for claims in certain situations;

 

in the case of any action for which a period of limitation is prescribed by this Act, either-

 

·(a) the action is based upon the fraud of the defendant; or

·(b) any fact relevant to the plaintiff’s right of action has been deliberately concealed from him by the defendant; or

·© the action is for relief from the consequences of a mistake;

 

 

 

Section 32(1)© of the Act (above) applies here in that I paid the charges under a mistake of law. This principle has been established in case law (Eg, Kleinwort Benson v Lincoln City Council). I consider that the period of limitation shall not begin to run until the plaintiff has discovered the fraud, concealment or mistake (as the case may be) or could with reasonable diligence have discovered it. I can not accept, therefore, that my claim can be in any way ‘time-barred’ under this Act, and I further consider that I have every right to make a claim for unlawful charges made prior to six years ago.

 

 

Contractual compound interest

 

I further claim from you £3,566.03 in interest, in addition to the £2,305.00 in unlawful charges.

 

The interest is the current contractual rate you are advertising on your website, 19.9%. It is not the rate you have charged me for unarranged borrowing, which has been typically 29.5%.

 

My grounds for seeking restitution of the compounded contractual rate of interest is that the bank would be unjustly enriched if my entitlement was limited to the statutory rate of interest in that the bank has had use of the sums and would have used these sums to re-lend at commercial compounded rates.

 

I look forward to hearing from you within 14 days (ie, by 15th May 2007) with your proposals for refunding to me the amount of £5,871.03.

 

Yours Sincerely,

 

Lord Alcohol

 

I thought this would be a good opportunity to (a) specifically test their reaction to S32 of the Limitations Act 1980 and (b) the Court's position on contractual interest.

 

I'll keep you informed.

 

LA

:wink:

 

 

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Ooooh Im watching this one like a hawk as Im fully intending to make a new claim once my current one is paid out, for years going back much further than 6 too. All the best............ nothing to fear for trying............. Well done for being brave enough to do it. Fendy xxx

NATWEST BANK CLAIM - £16,100.00 WON

ABBEY BANK - £5500.00 WON

CAPITAL ONE VISA - £1800.00 WON

HUBBYS CAPITAL ONE VISA £2012.00 WON

TOTAL WON TO DATE: £25,400

*************************************************:D :D

NATWEST BANK -CLAIM 2 PRE 6 YEARS- ONGOING

ABBEY BANK -CLAIM 2 PRE 6 YEARS - ONGOING

YORKSHIRE BANK - AT SAR STATUS

HALIFAX CREDIT CARD - AT SAR STATUS

PLENTY MORE TO START LATER.

STRENGTH IS SOMETHING YOU CHOOSE IN LIFE, ITS A CONSCIOUS CHOICE YOU MAKE, YOU ARE NOT BORN WITH IT. YOU LEARN IT.:D :D

 

STRENGTH, YOURE NOT BORN WITH IT, YOU LEARN IT :confused:DUE TO WHAT LIFE DOES TO YOU. :)

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