Amex appeal - now they want to talk

[Harbourboy]

Hi guys,

 

I have an appeal coming up against an Amex ccj regarding charge card debts,

the interest of which has snowballed into many thousands of pounds.

 

I have suddenly heard that Amex will reduce the interest rate from the date of the writ from 42% to 8% if i discharge the appeal

and accept their ccj and monthly payment demands.

 

However there is no suggestion of amending the interest rate from the time of the default to the time of the writ.

 

Apparently this is Amex' generosity and they don't wish the appeal to go ahead for economic reasons,

which is strange as if i lose as their solicitors say, then they wouldn't have to pay costs....i would.

 

Basically the court ...or someone .... put the wrong interest rate on the writ and the interlocutor, and they say , hey don't worry it was only 42%!

[smouk]

...and they don't wish the appeal to go ahead for economic reasons

Well that smacks of BS!. They're obviously unsure of their ground for some reason.

 

What are the grounds for your appeal and when's it being heard?

 

In the meantime I would suggest priority is to establish the origin of 42% - trace back the papertrail to its first appearance. If Amex did it without the courts say so then life could be interesting for at least one Brighton desk wallah.

[dx100uk]

you'll have to post up far more details that this

 

whilst you are there

 

also dont forget bring in PENALTY charges too.

 

dx

[Harbourboy]

The 42% is from 3.5% per month which they charge when your charge card account is in the hands of solicitors. But the statements Amex send out will continue to state on the front 'no interest is charged on this product'. Grounds of appeal is that the agents or court consistently have put down wrong figure anyway (48%) and I have reasonable doubt that the 'correct' rate of interest has been used to calculate what Amex say I owe. And yes there's a £12 penalty charge per month in the mix too. All dating back to 2002. I owed 2500 initially, have paid them nearly 4000 and now I still owe 13000

Edited January 12, 2013 by Harbourboy