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Overdraft interest


samui
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Hello everyone,

 

I am new to this site so all answers/help welcome!.I am in the process of claiming money back from Lloyds and am getting into a kerfuffle.

I am claimng back £2905 from Lloyds but am getting confused as to what I can and cannot claim for.

I have been sent all my list of charges and I want to know if I can claim for OVERDRAFT INTERST. I think from reading various links etc from everyone that I could do this if I wanted too but it involves various spreadsheet working out etc etc. I would be happy to just claim for the straight forward overcharges and not interest - can I do this. If I am doing this then does this mean when I send my second letter to Lloyds saying I intend to go to small claims court etc do I not then add 8% interest charges on and not mention it and would this just happened if I won.

I am worried about getting this right as I have read various messages about getting paperwork and argument clear etc as I have already sent first letter and they wrote back with the services not penalties argument so I then sent letter saying I was going to take to court for 2905 amount which included the overdraft interest bit - am I meant to add more money onto this now ie 8% - and 8% of what total amount of 2905 - as you can see I am very very confused and need to know to keep it simple do I now need to go back to step one and ASK FOR ALL MONEY BACK MINUS OVERDRAFTINTEREST...

PLS help - thanks!!

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Hi

Firstly, when you send your next letter to Lloyds, don't put the 8% interest on, you only put this on when you are filing the Court claim.

 

You can't claim all the o/d interest only parts, it is quite complicated to work out and a lot of people don't bother claiming it. You would need to use one of the "Advanced" Spreadsheets in the link below to work it out:

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

Good luck, if you have anymore questions please ask.

Barty:)

I WON!!!! :D :D :D

http://www.consumeractiongroup.co.uk/forum/lloydstsb-successes/1774-barty-lloyds-tsb.html

 

IF I HAVE BEEN HELPFUL PLEASE CLICK THE SCALES:)

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I think the advanced spreadsheet will work it out but again it is complicated and requires you to know exactly what was happening with your account at any one time with regards the charges, interest rates and your overdraft limit.

 

Personally when I calculated my claim, I just added any and all overdraft interest after my first charge had been taken. As my agreed overdraft was interest free, my argument was that any interest taken following the first charge would have been as a result of that charge and any subsequent charges as without the accumulation of charges I would have been within my agreed interest free overdraft limit.

 

The judge didn't query this at my hearing

All my posts are made without prejudice and may not be reused or reproduced without my express permission (or the permission of the forums owners)!

 

17/10/2006 Recieve claim against me from lloyds TSB for £312.82

18/10/06 S.A.R - (Subject Access Request) sent

03/02/07 Claim allocated to small claims. Hearing set for 15/05/07. Lloyds ordered to file statement setting out how they calculate their charges

15/05/07 Lloyds do not attend. Judgement ordered for £192 approx, £3 travel costs and removal of default notice

29/05/07 4pm Lloyds deadline for payment of CCJ expires. Warrant of execution ready to go

19/06/07 Letter from court stating Lloyds have made a cheque payment to court

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