Hi guys
Can anyone help. I have worked out that natwest owe me 446 quid in charges. I am about to work out the interest. I have been doing a bit of reading and am quite keen to claim back interest at NATWESTS contractual interst rate of 29.5% a year or 2.9% a month. It is worth a try. I know i cant claim this as well as 8% as the court, but one or the other will do.
So, if I was charged £25 in dec 2002, this is 50 months or just over a year.
29.5% of 25 is 7.38.
so in 4 years they will owe me 29.52 in interest for money they have borrowed from me. in addition to the £25, I could request £54.52. Or can I only charge them this for the month they borrowed the money.
Does this make sense to anyone? I am angry:-x they have taken this money from me, and am going to play them at their own game. They want to charge me 29.5%, I will (try) and get this money back.
Please help. Want to get the prelim letter sent away.
thankyou.