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8% Interest


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Hi Terasa again,

 

I am about to start my Court Claim against the Abbey and I have not claimed interest on my penalty charges so should I claim the 8% interest at the Court stage. If so, does the 8% interest claim start at the date I sent my first letter, asking for it back.

 

They have already sent me a cheque for the grand sum of £20.00 and I am claiming back nearly £500.00 without interest and court fees!!! I did send the letter saying thank you but no thank you and that I would be continuing my claim.

 

Teresa.

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There are two kinds of interest to think about. Firstly there is the interest the bank may have charged you on the increased overdrawn balance if that applied to you. It is hard to calculate but the spreadsheets in Vampiresses chambers should help you.

The second kind is that allowed as part of the court process and this is the 8% you referred to. You can claim 8% on all of your claim from the date it was paid up to the date the claim is settled. Again the spreadsheets will show you how to do this.

Once you get going, if you need anymore help then post a specific question in the forum for your claim. Someone will come along with experience of that bank.

In the meantime I suggest you read, read and read again. Give yourself a few days to browse the site to get used to what is required. Make sure you read the guidance notes and the FAQ as these are the most informative.

The best advice I can give is make sure you are comfortable with what you are doing and research as much as possible.

Good luck

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