Just a quick confirmation please?

[laurawilliams]

ive read FAQs and step by step instructions and the forums loads but im not the brightests spark, so can someone just say yes or no as to whether ive got this right.

 

ive got all my statements and cacluated halifax owe me £566. do i JUST send the preliminary letter asking for a refund of charges first?

 

OR, do I send the letter AND a copy of the spreadsheet, working out 8% APR??

 

When I send the prelim letter, am i supposed to just ask for the charges back, or do i ask for the charges plus 8%? and why 8%! sorry i dont know what APR is, hence why im in trouble with banks and credit cards

[jonni2bad]

Send the request for refund letter along with your calculations as this gives the bank an opportunity to see what you are claiming for, precisely.

 

It may also help later, if you have to go to court, to show that you supplied all the evidence you had in your attempt to settle out of court.

 

The reason that the interest is at 8% is because that is the figure the courts use.

 

Part of the template letter reads... "What I require" and should, I believe, look like this....

I have prepared a spreadsheet detailing dates, amounts of each charge and an additional 8% interest, as allowed by the County Courts Act (1984). The total charges in this period amount to £XXX.00 The interest total, as of XXth March 2006, amounts to £XXX.XX and so the total amount I require you to repay me is £X,XXX.XX

 

 

Hope that helps...

[laurawilliams]

i get what the 8% is about now and that section from a prelim letter makes sense to me. however i cant find a prelim letter in the library that has this in it! the only one in the library metions overdraft interest? *confused*

[BankFodder]

because if you paid charges and youwere in overdraft, then the bank would have charged you interest on the charges as well. You claim all of that back now. If it goes to court then you add 8% on top of that

[GrahamB]

I was going to ask this actually.

 

In the step by step instructions we have :

 

2.

Having received your statements and calculated your charges, enter the charges into the spreadsheet, also provided in the Library section of the http://www.BankActionGroup.com forum. This will calculate the interest at 8% APR as allowed by s.64 the County Courts Act (1984).

 

I have kept my statements anyway so didn't need to request them.

 

However, I saw something last night that said don't request the 8% in your initial letter as it would be clear you didn't know what you were doing. Or words to that effect. Typically I can't remember where I saw it, but I thought it was in the library or FAQ section. I'll keep hunting for it.

 

edit - sorry, was typing as Bankfodder was replying. Understand now.

 

Actually, it occurs...why would one "wait" until taking them to court to add the 8% on? If it's a standardised rate of interest for the money that we've 'lost' wouldn't we want that back in the first place? I'm unclear on why a court wouldn't look unfavourably on the amount being claimed for suddenly rises by 8% just by the simple matter of involving the courts (especially since

[laurawilliams]

the point made above about asking for 8% hasnt had a reply yet, could someone reply cos i am wondering the same thing too!

 

there seems to be conflicting information.

 

1. Do i add up my charges and request these alone?

2. Or do i add the charges up, add 8% interest on, and ask for the total amount in my preliminary letter?

3. Why ask for this now when I am not necessarily going to court with them (yet)?

[Seminole]

This is really up to you and it depends how annoyed you are with them. By not asking for it up front you can't complain if the bank offers to pay the full amount asked for. By putting it in you are making it clear that this is what you will be asking the court for.

 

I've included statutory interest in both of my current claims and made it clear that any settlement would be on this basis. Then again, my banks annoyed me a lot.

[laurawilliams]

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