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Horrocks vs NatWest


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Have received Mr Higley's reply to my Preliminary Letter, offering around 90% of my claimed Unlawful Charges, but none of the proportional interest which had been applied and related to those charges, and which I had also requested. The letter is presumably the standard response, so advice needed on how to respond to the following paragraphs in what will effectively be my LBA;

 

"Whilst many of our services are provided without a corresponding charge, we do make charges when customers, by their actions, request an increase to or the creation of an overdraft in excess of their previously agreed limit, in many instances allowing items to be paid either by creating or increasing an overdraft. These charges can be avoided completely by arranging suitable borrowing facilities in advance.

For this reason we do not agree with the basis of your complaint. We believe that the charges we levy are for providing services and that they are not penalties or charges for default....."

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When you say proportional interest, do you mean overdraft interest or the 8% interest?

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Hedgey, somebody, speak to me!

 

The template for the LBA seems to assume that you have not had a response within the allotted period - I have, but I need to refuse because NW has docked 10% and the interest from their offer, effectively around £700. How do I respond to the passage I have shown in red in my original post, which clearly implies that the fees are not 'penalty charges' at all, but a service that I have requested.

 

My other worry is that many of the charges are on the 'tail' of my claim i.e. date back the full six years. I am not now incurring charges on the account, so almost every day that passes sees the potential claim reducing as charges fall off the six year tail. I need to move to the next stage on this, and fast.

 

Help, please, anybody!!

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The template for the LBA seems to assume that you have not had a response within the allotted period - I have, but I need to refuse because NW has docked 10% and the interest from their offer, effectively around £700. How do I respond to the passage I have shown in red in my original post, which clearly implies that the fees are not 'penalty charges' at all, but a service that I have requested.

 

You don't need to respond to the bit in red specifically. Just amend the LBA template so that you can say something like "despite your recent offer............... I request my charges be refunded in full" - just re-word to suit your own situation.

 

My other worry is that many of the charges are on the 'tail' of my claim i.e. date back the full six years. I am not now incurring charges on the account, so almost every day that passes sees the potential claim reducing as charges fall off the six year tail. I need to move to the next stage on this, and fast.

 

Doesn't matter about the pre-6 year charges - send the LBA regardless. If it gets to the stage where you need to file N1 at court there's plenty of stuff on the site to back up your claim (e.g., Limitations Act). So don't worry - just send the LBA.

 

I noticed in your post below that you said the interest they haven't repaid you is the proportion of the actual interest which has been charged to the account that relates to the unlawful charges, as on Vampy's spreadsheet. Just check your spreadsheet again carefully before sending the LBA - as if this is the 8% interest and they've offered you a full refund of all of your charges, you really should accept their offer. It's worth checking............. just in case! ;)

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Hedgey, many thanks.

 

No, its not the 8% interest as on page 3 of the spready, but the OD interest as calculated in the right hand columns of page 2.

 

Is there any point in accepting their offer (it is only an offer, because they haven't physically repaid me anything) as a partial refund, and stating that I will continue to pursue the balance through the courts or via the Ombudsman?

 

Incidentally, good to see your success. You seem to have developed quite a little community here.

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TBH mate, at this stage (i.e., before LBA) I think I'd press on and request a full refund of everything.

 

You could accept as a partial settlement - but they tend to take these letters as either full acceptance or out and out rejection!!! They don't get the 'middle ground'!!! I'd be more inclined to adapt the LBA to include the fact that they've offered to refund some charges - but you want all charges refunding in full.

 

So for now - send them the LBA (revised to include their offer) and take it from there.

 

With a bit of luck, they'll see sense and pay up after the 14 days are up! ;)

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Given last evening's news, I very reluctantly concede that I am going to have to drop any further claim and accept the offer as it stands, sans interest.

 

I am seriously out of pocket now, and NW have just defaulted my business account, against which they had not yet complied with the S.A.R - (Subject Access Request) for statements (after 3 months).It all seems too much of a coincidence - getting the default notice before I had got my preliminary letter done, and the very same day as the announcement by the banks and the OFT.

 

I have a very bad feeling about this development I am afraid. I think I can detect the distinct whiff of a stitch-up.

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Try not to feel too despondent about the recent news and read this http://www.consumeractiongroup.co.uk/forum/natwest-bank/107585-oft-test-case-what.html before accepting their reduced offer. And they still have to comply with the SAR you requested on your business account - send them one of the data protection non-compliance letters from the templates library and continue to proceed with that claim (requesting removal of the default as well as a refund of all charges if the charges are equal to/more than the amount they've defaulted you for).

 

Best of luck :)

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Sadly, I feel that I have no choice Hedgey. I have already read the article on the link, and the consensus is that this OFT case is going to take a long time to reach its conclusion. The trouble is that I have run out of money, and I can simply no longer afford to wait. I will continue to pursue the claim on the business account, but I do feel that some of the wind has gone out of my sails. It is quite ghastly to let that £700 go, particularly at the moment, when it is so badly needed.

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I'm really sorry mate - but I totally understand your decision on this. It's pretty naff when the cash-flow dries up but you have to do what's right for you at this moment in time. At least you can accept the offer they've put on the table and have the money in your account withing a couple of weeks. Best of luck xxx :)

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