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Confused over LBA Letter


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In the LBA Template letter it says to include the 8% interest Yet in all other instructions it says not to include the 8% interest untill the next stage ie If it goes to court. So could you please clarify if i include the 8% interest amount in my LBA letter but not in the scheduel of charges i attatch Please ???

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The LBA doesn't have the 8% interest included.

This can only be awarded by the courts,

It may iclude overdraft interest, or contractual interest if you are going down that route

 

Can you post the paragraph you are refering to

 

Paul

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There are 2 instances of interest you can claim:

 

1.When you go overdrawn the bank will charge you interest, perfectly lawfully.

 

However, if part of your overdraft is made up of penalty fees, they are also charging you interest on these too and it is this interest which you are entitled to claim back, but it's tricky to separate out from the general overdraft interest figure.

 

Vampiress has a spreadsheet, (the advanced one), in the bank templates library, which attempts to calculate this

 

It's quite complex and unless your claim is large may not amount to that much, so for simplicity's sake, some people don't bother

 

This is the interest referred to in the preliminary and LBA letters.

 

2. Section 69 8% interest on your claim, but only when you submit a claim at court. Don't add this interest before moneyclaim

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On re-reading the template letter i now understand what you mean That is refering to the interest they charged on the overdraft and not the 8% you include if it goes to court Thankyou dont think i'll waist any more time trying to work that out It's taken me long enough just going through 11 years of statements and listing all penalty charges One more Question What address do i send my LBA letter too As the address i received 2 replies from was:

 

Lloyds TSB Bank Plc

Customer Service,

Recovery Centre,

Charlton Place,

Andover,

Hampshire,

SP10 1RE

 

Do i send my LBA to that address or another does anyone know please ??

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Still aint got the hang of this site yet lolz Despite reading allot of it this only my 2nd time posting lol So sorry fa delay in replying Did reply but its gone somewhere else hehe Anyway Thanks allot for your help i now understand wot that interest is all about n i must av imagined i saw 8% in that template lol Thanks again much appreciated x

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