Wilko v Nationwide

[paulwilko]

Gary, thx for your detailed reply.

 

You now have me worried slightly.

 

I have to say, when it comes to any legal talk, I am severly lacking.

If you think this could possibly go in front of a judge and for me to argue the case in a legal way, then I would probably not be able to do it.

 

On the other hand, it is for appx £1300, so is not a small amount of money, so I don't want to give up easily.

 

On another hand (Blimey, how many hands do i have !!) I don't want to lose anything i have.

 

Based on this reply, what do you reckon ?

 

Thx

 

Paul

[GaryH]

I have to say, when it comes to any legal talk, I am severly lacking.

If you think this could possibly go in front of a judge and for me to argue the case in a legal way, then I would probably not be able to do it.

I would'nt go as far as to say you need to be fully fluant in 'legaleese' to be successful - this isn't the case, especially not in the small claims court.

 

You do however, need to well prepared and very confident in the basis of your interest claim and be able to put the arguements to a judge.

 

Its much more complex than if you were going to court for the charges - the law relating to contractual penalties is clear and well established in case law and statute. This is why the banks will not go to court to defend them! The legal basis for CI is nowhere near as clear - in fact its distinctly murky! As I said, the problem you have is that they've paid the charges already and the CI issue is now the only issue in dispute.

 

If you were to pursue (and I'm not recommending that you do by saying this), your best bet would be to refuse the offer and tell them to take it back as its not a full settlement - you then may have a chance of keeping the claim intact.

 

I can't tell you what to do, just be fully aware of the risks.

[paulwilko]

Hmmm

 

I am very tempted to let this go now. Maybe this is a chickens way out, but as you say, it is a very grey area and maybe a risk too far.

 

As a matter of interest, what would happen if i took all the money out they have paid me which will mean me being £1600 overdrawn ?

Would they demand the money back or what ?

 

Has this been done ?

 

Cheers

 

Paul

[MilkTrayMan]

Hello paulwilko!

Would they demand the money back or what ?

Money (£1600) + Unauthorised O/D unlawful Penalty Charge + Unauthorised O/D Contractual Interest (24.9%AER) Daily Compounded + DEFAULT NOTICE if U failed to repay when requested!!!

[paulwilko]

Hello paulwilko!

Money (£1600) + Unauthorised O/D unlawful Penalty Charge + Unauthorised O/D Contractual Interest (24.9%AER) Daily Compounded + DEFAULT NOTICE if U failed to repay when requested!!!

You cant make it any more simpler than that !!

 

Actually I worded the question wrong !!

 

I knew they would want it back, I was just wondering what the implications would be.

 

I am tempted to take the money out, chuck it into Premium bonds, then when they ask for it back, they normally give you a month to do it, then cash in the bonds and pay them back, in the mean time, you never know, i may of won a few quid !!

[MilkTrayMan]

Hi paulwilko!

I am tempted to take the money out, chuck it into Premium bonds, then when they ask for it back, they normally give you a month to do it, then cash in the bonds and pay them back,

U have to stand the 1st month,

your numbers aren't entered into the draw until the 2nd month.

...17 Billion to 1 the odds are for winning £1million.

 

Here's a link for U to weigh it all up:

Premium Bonds: Are they worth it? | MoneySavingExpert: Consumer Revenge, Credit Cards, Shopping, Bank Charges, Cheap Flights and more,

 

in the mean time, you never know, i may of won a few quid !!

Cheltenham has just finished my friend.

If U don't fancy the "Banker" of Utd winning the Treble AGAIN this year, perhaps U know of somewhere that could give U a relatively modest return of 24.9%AER Compounded Daily???

[paulwilko]

Hi paulwilko!

And how exactly do expect to get 24.9%

 

Are you suggesting i carry on with my claim or did i miss the point ?

[MilkTrayMan]

Hello paulwilko!

 

I believe the "Official" response has already been stated to U...

If you were to pursue (and I'm not recommending that you do by saying this), your best bet would be to refuse the offer and tell them to take it back as its not a full settlement - you then may have a chance of keeping the claim intact.

 

I can't tell you what to do, just be fully aware of the risks.

Let me know what you decide. If you wish to continue then I will of course help you with your AQ as you requested originally.

No probs, I'll be here for most of the day (week off work...)

Unfortunately, I can't help U any further cos I have split loyalties.

...I support Utd!!!...lol...

 

There is of course, an argument that says that U have consistently stated to Nationwide (PL + LBA + PoC) that U are Claiming Charges + C.I. and have quoted a sum of money that U require from Nationwide to be able to say that U consider your Claim to have been SETTLED IN FULL.

 

Nationwide have paid U PART of that total figure and have chosen to apportion according to their criteria.

 

Why do U have to accept their apportioning all of a sudden???

Is it not also acceptable + consistent, for U to apportion it according to your own criteria???

...i.e. Repaying your most recent Charges + C.I. first and working backwards, so that U are arguing for the rest of the more 'costly Charges + C.I.' to still to be repaid???

This would still keep your Claim "intact" and negate the C.I. separation that Nationwide seek.

 

It is for the Court to decide, NOT Nationwide, what apportioning to allow!

 

Simply put, Nationwide have said that they intend to Defend ALL what U have Claimed, but then they have paid U a PART sum and have added what amounts to s69 S.I. @ 8%APR.

 

8% is NOT a figure which has any Contractual value.

...It is NOT even the Authorised O/D figure.

It is a made up figure!

 

Only the Court can apply s69 S.I. @ 8% APR.

 

Here are the details of another successful Claim:

http://www.consumeractiongroup.co.uk/forum/rbs-bos-successes/49470-contractual-interest-details-case.html?highlight=RBS+full+details

 

There are distinct subtle differences to YOUR Claim

...But take note of the complex 'Legaleese' used.

 

It's YOUR decision whether to proceed or not paulwilko!

 

 

Best of Luck!...