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A win for me!!!!!


willowshimmer
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On the 13th May I rang the Financial Ombudsman to make a formal complaint about the charges applied to my Flexaccount from opening in June 2002. The FO then wrote to NW telling them they had 8 weeks to investigate.

 

My husbands claim for charges has gone to the courts and I was intrigued as to the difference in methods as the FO route has not cost a penny and I did not apply for my statements either (although I did have a record of the amount in total)

 

NW replied on 21st May saying they now had the complaint and they had till the 10th July to reply. At the same time, and on the advice of the FO, I sent a letter almost the same as the LBA but changing the deadline to 10th July.

Well guys today I recieved a letter from Claire Gillingwater who has offered me a full refund amounting to £1436.00 as full and final settlement on this account. They are NOT closing my account and it has taken is not even a month.

 

The only thing is obviously there isnt the 8% interest added but I have recieved ALL charges applied to my account.

If anyone wants the FO phone number its 0845 080 1800

:) a very happy Jane:)

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Hey Willow,

 

If that's the case then mine should be back soon as well, I rang the FSO a few days later than you Nationwide have until the 12th of July to reply.

 

I wasn't advised to sent a similar letter to the LBA though, just wondering if I should do that now and see what happens. Either way seemslike the FSO is a good route if you don't mind missing out on the 8%

 

The Squall

Vi Veri Veniversum Vivus Vici - By the power of truth I, while living, have conqured the universe.

 

Quis custodiet ipsos custodes? - Who Watches The Watchers?

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Oh and congratualtions as well!!! Always good to chalk up another win!

Vi Veri Veniversum Vivus Vici - By the power of truth I, while living, have conqured the universe.

 

Quis custodiet ipsos custodes? - Who Watches The Watchers?

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The FO advised I sent a letter to outline my complaint and so I took the decision to send something formal and to the point ...the LBA seemed the most appropriate.

As far as the 8% interest is concerned I feel it is a personal choice, of course it would have been nice to aquire itand you are entitled to it! but as I really did this route as a comparison to my husbands claim via court (he he I beat him!)

The Squall - heres hoping you get a nice letter from Claire Gillingwater too soon.

Jane

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I hope so too Willow, i'll just have to wait and see. I might send a quick letter to nationwide with a photocopy of the breakdown they sent me, just to be nice and give them a hand ;), it doesn't do any harm!

 

Squall

Vi Veri Veniversum Vivus Vici - By the power of truth I, while living, have conqured the universe.

 

Quis custodiet ipsos custodes? - Who Watches The Watchers?

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...As far as the 8% interest is concerned I feel it is a personal choice, of course it would have been nice to aquire itand you are entitled to it!
Firstly, CONGRATULATIONS!

Am really glad for U and that U're pleased with your Refund.

 

However...

 

There is an argument for Claiming not just the s69 8%p.a. Statutory Interest Rate (...which is calculated as Simple Interest btw!), but for the Daily Compounded Unauthorised O/D Contractual Interest Rate @ 24.9%AER.

 

It isn't for the disconcerting and can be difficult to get your head around for some.

To succeed, U have to be really confident in being able to express your argument convincingly.

 

The Banks Charge U by using this method and IMHO by NOT doing likewise to them, U are effectively short-changing yourself and still allowing them to profit from their wrong doings.

 

For some Claimants who have quite a lot of Charges from several years ago, by Claiming C.I., their Total amount to be Claimed can often be 3 or 4 times the amount of the actual Charges!!!

 

#19 of the following Thread will give U the basic rationale...

http://www.consumeractiongroup.co.uk/forum/general/54212-do-i-have-accept.html

 

Below are just some of the many Threads that Claimants have also found useful...

http://www.consumeractiongroup.co.uk/forum/general/18313-why-no-one-claiming.html

 

http://www.consumeractiongroup.co.uk/forum/general/7252-new-way-looking-interest.html

 

http://www.consumeractiongroup.co.uk/forum/lloydstsb-successes/26172-mindzai-lucid-lloyds-tsb.html

 

 

It may be useful for U, to feed your personal data into the very user-friendly spreadsheet (...v1.9 courtesy of Mindzai) which can be downloaded via a link in the following Thread...

http://www.consumeractiongroup.co.uk/forum/general/51736-excel-contractual-interest-spreadsheet.html

The spreadsheet will allow U to easily make a direct comparison between the TWO types of Interest that can be Claimed.

 

Perhaps U could post all THREE Totals, so that other Claimants can see the differences in returns that could be achieved, for the different levels of researching time and effort that a Claimant would have to put into their Claim???

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