Filling in N1 - Interest claiming ...confused??

[wantitback!]

Hello,

 

I have sent the LBA to natwest given them 7 days to pay up - today was the last day and I had not heard back so I decided I will call them to find out if they wanted to refund my money before I started court proceedings. Anyway the lady in the customer service helpdesk said that natwest had up to 8 weeks to make me an offer per the FSA regualtion and they did not have to do anything in the meantime!? I am now unsure what to do - is this infomation she told me true? She mentioned that they would be in touch with an offer by the 6th August! Has anyone else expeirenced this before and what have they done? Shall I start the claim proceedings and fork out the £120 or just sit tight until the 6th for there offer?

Why cant they just give us our cash back and stop playing these stupid time wasting games!!!!

 

Any feedback is greatly welcomed - Thanks.

[NaciravBanks]

hi there, im no expert but going by experiance and what i have read, i doubt that nastywest will make you an offer for the full amount you want (+intrest). so if u want ur money sooner rather than later, i would file claim with mcol asap. be sure to include intrest. Good Luck

[holster73]

Wantitback - go ahead and file against them. I got the same fob off after giving them 14 days from LBA and they even tried to twist the day they received my letter (sent it recorded delivery, so signed for, but they only 'logged it' 12 days later!)

 

I have filed my N1 and they have a few days to acknowledge, but even now I've got a letter from them saying they can't fulfil in the 8 weeks re FSA guidelines!!

 

Set your timescale - even if you go to court and this draws things out, you'll be able to claim the 8% interest to.

 

Holster

[steven4064]

wantitback

 

Absolutely do what holster says. The 8 weeks is for handling complaints - you are not complianing, you just want them to give you your money back. Stick to the timescales you set.

 

Steven

 

If this post is helpful, please click the scales

Any opinions are without prejudice & without liability.

Almost everything I know concerning the law I learned from this site

[wantitback!]

Thanks for all your help! So the 8 weeks they are stating that they have to get back to us is nonsence and is for complaints and not for refund requests...?!

 

I will start the my claim tomorrow then when the 7 days is up.

If anyone has any further info on what to do next then I would be greatful for your help - I felt like such an idiot on the phone to natwest as they tried to make out that i had no idea what i was talking about .... and thinking about it now to say they will be getting back to me on the 6th of August with an offer is a joke .... I want my money back - all of it! Not an offer!

 

Thanks again i feel i have the confidence to take it to the next stage ;-)

[steven4064]

Just keep us posted and we'll guide you through and be there to say 'congartulations' when you win

 

Steven

 

If this post is helpful, please click the scales

Any opinions are without prejudice & without liability.

Almost everything I know concerning the law I learned from this site

[livelylad]

Its 14 days not 7. Read through the success threads in the NAtwest forum they will help.

[wantitback!]

I have been working from a different claim website that states you give them 7 days with the LBA? I think then that I will leave it another week just to be on the safe side then and start my claim against nawest next week once it has been 14 days.

This is so confusing at times.... Think i will be sticking to this site from now as to not confuse myself with different info.

I will keep you posted on the progress - I'm sure there will be some questions along the way!

With the support from everyone who posts on this site you make it possible for other to gain to courage to take their banks on and get what is rightfully theres - so thanks again guys!!

[livelylad]

No problem

[wantitback!]

Hi

 

I am completing my money claim form (N1 Hardcopy though, as read on this was better then MCOL as has more info) and I am at the Value section. I have copied the following statement from the library from Bank Fodder but unsure how to complete it ... help please people

 

Charges £2400.94 (my total charges without any interest added)

Overdraft Interest £675.89 (8% Interest worked out on each charge to date)

Interest under s.69 County Courts Act 1984 (not sure what to put here though???)

Court Fee £120.00

TOTAL £ xx.xx

 

Do I leave the interest under the courts section blank if not then how do I work it out - dont want to do it wrong so would rather not include it to avoid the claim being struck out!

 

Many thanks

[steven4064]

See my note inside quote

Charges £2400.94 (my total charges without any interest added)

Overdraft Interest £675.89 (8% Interest worked out on each charge to date) - this is the s69 interest and should be in the next bit. Overdraft interest is an estimate of the interest they levied on the charges at their overdraft rate.

Interest under s.69 County Courts Act 1984 (not sure what to put here though???)

[wantitback!]

Thanks Steven.

 

So would you suggest I can add on 14.95% (Natwest authorised overdraft rate) to each charge to date also? I am unsure what I have been charged for the interest of each of these debits so do not want to go ahead a claim to much.

 

Sorry but this is the part I am find very confusing.

 

Many thanks for your input!!

[wantitback!]

How do I work this out - help is needed from all you CAG'ers out there...

 

I want to get my claim filed in court and am getting a little stuck completing the N1 form when it comes to the amounts and interest that needs to be added.

 

I have added up all my charges and entered that amount, and have then added 8 % on for each of those charges to date. Am not going to add any other interest but that as don't know what to add and how to work it out. Starting to stress me out a little now

 

 

 

The last part I need to fill in is below - have entered my dates and the 8%interest amount but struggling on what to put as daily interest rate rate... see quote below....

 

c) The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year, from 31/08/2001 to 10/08/2007 of £675.89 and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of [???]

[tonycee]

How do I work this out

 

Your claim amount = A

Your interest claimed = B

Court costs = C

 

A + B + C = D

 

D X £ 0.00022p = Daily interest.

[hedgey06]

So would you suggest I can add on 14.95% (NatWest authorised overdraft rate) to each charge to date also

 

No! Not unless you've thoroughly researched the contractual rate of interest. If you haven't done this - simply include the s69 8% interest (as worked out on your schedule of charges).

[livelylad]

3 threads merged and thread title changed

 

please keep to the one thread when asking questions or updating .This is in your own interest as you will get much more informed advice when people can see at a glance what you have done so far