Instant success? and hello

[Simbad 54]

Hi all, just a quick intro. My first post here, and, well, I sent the initial letter to my Branch about 6-8 weeks ago. Heard nothing back and was going to send the next letter when i get one from them offering my £2100 out of the approx £2600 (incl interest) i asked for. I'm kinda shocked they offered it straight away albeit with a slight delay. Any thoughts? And should i take the offer or push for the interest as well?

Nice to meet you all.

Sim

[fendyweather]

When you say interest, what sort of interest did you claim. Was it contractual, or interest for going over your overdraft interest ? or something else. ??

 

Fendy xx

[Simbad 54]

Hi Fendyweather, pleased to meet you.

By interest I mean what I worked out the interest on the total amount of my charges to be if i had kept the money. As far as I can tell the £2100 thay are offering me is the amount of my charges minus the interest i added on top.

That's standard practice no, to add the interest? I seem to remember doing on the CAG website, but perhaps i was mistaken.

[hedgey06]

Welcome on board! If it was the s69 8% interest - this can only be awarded by the courts anyway (can't be claimed at prelim or LBA stages). As Fendy said, do you know exactly which type of interest you calculated?

[fendyweather]

Sorry, Im trying to understand what kind of interest you applied to the total claim. If it was the S.69 stat interest that only courts can award, then really you have to accept the offer because at prelim stage and LBA you cant claim the 8%, only refund of the whole charges alone. If it was contractual interest, i.e. interest billed to them at the same rate you would have been charged by them over that period of time for going over your overdraft limit, i.e. roughly 29.5% ish, then thats ok, you can still start claim at court for that, but you need to be sure of what sort of interest it is you actually applied. How did you calculate it, that might be a better way of us finding out what sort of interest is was ???

[Simbad 54]

Of the top of my head i can't remember what type it was. I also actually can't find a copy of the original letter i sent requesting money. This is astonishing as i have a copy of every letter i ever sent!!

Hmm, any way. It seems odd that they have offered me money so quickly. I was under the impression they dragged thier feet over this. hedgey06, I was just reading your thread. It's nice to see you go from a newbie like me to a seasoned proffesional, giving advice!

;-)

[hedgey06]

Lol.......... still a newbie meself really....... just a bit of a nutcase that's all!!! You'll soon be giving advice yerself soon - bet yer a tenner!!! xxx

[Simbad 54]

Hmm, don't know about that. If i accept this offer, then i'm in and out in a matter of days!

I'm pretty sure, the interest i chraged is the S 69 stat, but it worked out as roughly £500 from charges of approx £2100, so that's a little under 25%. So, i'm confused. At the least, i need to find that letter i sent!!

Haha

[hedgey06]

Think you need to check yer pooter for the letter............... QUICK!!!!

[fendyweather]

I think you do. If its 8% stat you cant claim that prior to court. So you have to accept the offer. However, if its contractual then you dont have to accept the offer and you can continue onward and file at court unless they offer the contractual. At the end of the day its up to you what do to. But if its the 8% then you definitely cant claim this if they have offered full charges back alone. You have to accept.

 

Best of luck. If you can find your letter and how you calculated your sheet to start with then post back and we can help further. Fendy xxx

[Simbad 54]

Cheers guys (gals) speak later.

x

[fendyweather]

Okies, oi Sinbad, wheres youre argonauts.............

 

Ooooops, wrong sailor me thinks....................

[hedgey06]

Lol.................... sinbad and the argonauts!!!!!!!!!! jason and the forty thieves!!! Oo er...........!!!!!!!!! xx