Need Some Advice Please.

[GaryH]

Ok, yes if you filed them one after another you'd probably get away with it, but its still against the rules. Unless there is a good reason (which does'nt include keeping below 5k), in a contract dispute your supposed to file one claim per contract. Remember also, that whilst there is a theoretic costs risk in the fast track of up to a maximum £750, in real terms that risk is negligable. Full disclosure is also availible which makes the chances of a claim actually getting to court even less than usual.

[Mindzai]

Ok, yes if you filed them one after another you'd probably get away with it, but its still against the rules.

 

Is there a specific rule that prohibits this? I'd be interested to read up on it.

[GaryH]

Yes. The lawpack small claims guide refers to it. I'm sure there is a specific CPR relating to it as well, I'll have a look in a bit.

[Mindzai]

Excellent, thanks

[lucid]

It seems to me that your case is quite unique, as you have had to deal with debt at the same time so while on one hand you are pushing for charges, they seem to be stalling (lloyds, stall??) behind the debt, so as i am not in debt at the moment then it might push things a little further.

 

RedDeath,

 

Just very quickly so I don't risk getting accused of hijacking the thread - although this is universal information.

 

We began with our prelim on 9th August, filed our claims on 7th September and our claims were given a hearing date of 7th February. So unfortunately it's nothing to do with Lloyds chasing a debt (that coincidentally is their debt;)), but more to do with the court's schedules. I guess they are getting more and more busy every week, but think of it in the good sense. The longer they take, the more interest you earn.

 

Lucid

[RedDeath]

RedDeath,

 

The longer they take, the more interest you earn.

 

Lucid

 

Amen to that!

[RCR50]

I wonder whether anybody could answer my question please.

On going through old business a/c statements I notice that every month they have put a figure for the interest they have charged me - it is put down as `authorised`....and the amount and `unauthorised` and the amount with a grand total to to be charged to my account - should I be re-claiming all of the `unauthorised` interest? and do I also add contractual interest onto this please....also as the amount was deducted monthly do I just add the contractual interest on the day it was charged to my a/c....I an sure that I am just being very thick but I do still find a lot of this confusing......If I could just download a spreadsheet it would help.....I have spent more hours trying to figure that out than I can tell you - thick I know!!

I would be most grateful if anybody could help with my interest query.

Many thanks...best wishes to all...........Red death come back - we need you!!!!Probably getting stuck in to your spreadsheets and rightly so.....good luck!!

[photoman]

RCR50.

Try using this spreadsheet, it has quite a few guidelines and pointers on it.

Forget how the interest was split (authorised and unauthorised). Just enter the total amount you were charged, and the date it was charged for each month, in keeping with the guidelines on Mindzai's spreadsheet.

In short, you are not claiming back ALL of your interest you paid each month.......only that interest that you were charged on the penalties you had paid.

For example you may have only been overdrawn by say £70 one month, and so only paid overdraft interest on £70 . But as you had also a £30 penalty that month, taking you to £100 overdrawn, you paid your interest on the £70, but also an additional chunk of interest on the unlawful £30 as well. So you claim back the interest on the £30, not the other £70.

BUT, don't worry about working that out, as the spreadsheet, does it for you.

 

Click on this link for the spreadsheet.

http://www.zen122856.zen.co.uk/CompoundSheet_v1.8.xls

 

Also click on this link for help with it.

 

http://www.consumeractiongroup.co.uk/forum/general/51736-excel-contractual-interest-spreadsheet.html#post421046

 

Good luck

[RCR50]

Thanks so much photoman

 

I have saved your message on e-mail and will get my head around it properly tomorrow.....extremely helpful....THANK YOU!!

 

I haven`t been keeping up with all the posts etc and so I hope your claim is still going to plan with no major hiccups.

 

Thank you again - you chaps are soooo helpful!

 

Best wishes

[RCR50]

Hi guys

 

Can I be an ignorant nuisance and ask anybody a question please --- I feel as though I have been reading posts for an eternity.

 

I have just typed my first letter to the bank - business a/c claim. (I have decided not to add any interest at all - just ask for my charges back - I know that I am a coward and I know that I would probably get the whole lot back with contractual interest had I been prepared to go the whole way etc.....but no matter what I am told or what I read - I do need my bank and do not want my a/c closed etc.....I want to do this as politely and quietly as I can - after all - it will be £800 that I did not have before and that I did not even know I could ask for up until a few weeks ago).

It says in my letter that should I not be refunded in full within 14 days I will put in a claim - without notice etc etc......I know that no bank has ever defended themselves in court...however (sorry - I should really know something as elementary in the process as this) If I put in a claim - I belive you can do it online for about £125......obviously the bank will not actually defend themselves etc and let us assume a date is issued etc but they pay up before that time, would I get my £125 back??

I shall see how they respond to my business a/c claim - the account was closed about three years ago and I figure there might be less chance of them closing my current a/c with them..........then I shall think of putting in a claim for my current a/c charges which are twice as much.

Thanks guys..........

Still cannot work those spreadsheets out.......what hope is there for a girl like me!!!!I can download it etc but can`t use it!!!!

Do you ever worry the banks might come up with something to let them off the hook whilst some are cautiously - (in my case especially) faffing around - that is all I am doing to be honest....and also, as many suggest on here, You have to know exactly what you are doing, what you are talking about etc etc to take it all the way........I would be happy for my £800.......You guys are great by the way.

Many thanks.

[GaryH]

Do you ever worry the banks might come up with something to let them off the hook

If they were to find a 'solution' to stop all these claims, I'm pretty sure they'd have found it long before now! When are the banks going to fight back?

 

Fair enough that you don't want to claim contractual. It is a contentious subject and it does carry an element of risk. You can still claim the statutory 8% rate though, this can be applied as standard to any money you are owed when you file a court claim to recover it. Only add it when you come to file your claim though, obviously.

 

Yes, the court fee is a recoverable cost - you get it back automatically upon settlement of your claim. For claims up to £1000 I think the fee is £80.

[RCR50]

Thanks Gary

 

Very much appreciated and I do feel a bit more chilled about the whole thing.

 

I can even work out the 8%!

 

Best wishes

[RCR50]

Please could I ask some kind soul why the business letter is very much briefer than the standard one....also the business letter simply states that should I not receive a refund in full within 14 days I shall without notice put in a claim...whereas the other states that I require a positive response within 14 days afterwhich I shall give another 14 days to reflect...Is there a reason for this at all.

 

Many thanks.

[elsinore]

If you mean the letter in the Bank Templates Section, it is in fact a Letter Before Action and I think you are comparing it with a Preliminary Approach Letter.

 

Elsinore

[RCR50]

Thanks Elsinore! - Got it.

 

Best wishes

[elsinore]

Your welcome.

 

Actually, we could do with a 'business version' of a prelim letter in there. It's pretty straightforward, but there might as well be one available. I'll find one of mine and offer it.

 

Elsinore

[GaryH]

Definately.

 

I think the business claims side is something that we're lacking in at the moment - for instance most business claimants aren't aware that they need to omit the consumer regs, and there are no business N1 Poc's either.

[RCR50]

Can I share a mad thought that came to me whilst going over my letter to the bank...As you know I am very cautious - a bit afraid of approaching the bank etc.....I was looking at the letter thinking, `Should I really say that? - should I add a few please and thank yous? etc etc.....All I want is my charges back - no interest - and all I am really asking for is that they return the money which they unlawfully took from me but with great trepidation........I know that we are told that should we exceed out OD limit etc. we will incur charges and we all know it will be for an unfairly large amount of money which just makes our situation worse however...I just had visions of walking into Lloyds TSB and taking £800 Plus contractual interest out of their till........I would end up in prison for sure - with a criminal record........would this really be any `worse` than what they are doing to us...they don`t ask - just take it - an unlawful amount - but in our case we would only be taking back what is rightfully ours......

I must confess the more I think about all of this the more angry I feel - there is no sense of justice whatsoever for the poor consumer and I can now see why some of you guys are so into all of this - Well done to everybody who has claimed their money back - I hope you were braver than me and got a hefty chunk of interest too.....also well done to everybody on this site and for every helpful post.

Rant over!

[lucid]

No matter how nicely you put it to them they will treat you exactly the same as everybody else and I would be very surprised if it made them pay up quicker.

 

In my opinion you should consider adding statutory interest to your claim when you do have to file it at court. They are probably going to take a long time to give you back your money and you are entitled to add statutory interest to the amount.

 

If you are feeling unsure about the whole process then give yourself some extra time to get even more familiar with the way it works - don't feel that you have to rush ahead if you're not 100% confident. Just remember that there are many people around to help and advise you at every step.

 

Lucid

[RCR50]

Thanks Lucid!

 

I will infact add the 8% if I file the claim....however, if they offer me the £750 cop out payment before it comes to that stage I think I might take it (what am I like!).

 

Could I be a nuisance and ask just one more question for now - this has been nagging away in the back of my mind. About 6 weeks ago - before I even knew anthing about bank charges being unlawful etc. I received a letter from the bank saying that they had over charged me on my business account - it was for a tiny amount of money - they wanted to pay it back to me and asked me for my current a/c details so they could credit my a/c - they said they were adding interest onto it.....I was paid around £15. I no longer have the letter etc....I recall at the time thinking how good it was of them to do this......I hope that by accepting that payment a while back it does not affect my claim now??

Anyway - I am going to be brave and get the letter off this week and I will let you all know what transpires.

 

Thanks to everybody.

 

Best wishes.

[elsinore]

Hi RCR50.

 

It's good that you've taken Lucid's advice. You shouldn't be chary about adding interest to your claim, you have a perfect right to do it.

 

The refund from the bank won't make any difference to your claim, but I'm curious to know why they wanted your current account details? Why didn't they just credit the business account?

 

As to accepting an offer, well it's absolutely your choice. If you are happy to accept what they offer you, then that's fine. No hassle, money in your pocket, move on!

 

Elsinore

[RCR50]

Hi Elsinore

 

I recieved an e-mail with your post - though it is not on the site - so thought I would pm you - however, you need to clear out your pm box before you can accept any messages.

 

I closed my business a/c three years ago which is probably why they asked for my current a/c details.......Also, should this claim be successful I cannot move on because I have 1,640 in charges on my current a/c. eek! This is the one that I am worried about because I don`t want them to close my a/c....thought I would attempt the business a/c first and see how it goes.

 

Anyway - thanks for your help = much appreciated. I do hope that your claims are going according to plan with no major hiccups......good luck.

 

I had better get myself sorted out for work tomorrow - I am feeling completely reclaim bank charges charged out!!

 

Best wishes.

[RCR50]

Your post `IS` there!!!

Think I had better go to bed!

[elsinore]

My apologies, If I had taken the trouble to re-read your thread I would have known the answer!

 

If you haven't already done so, it would be advisable to open a parachute account, in case LTSB close your present account. They shouldn't, because it would be seen as retaliatory, but that won't stop them.

 

PM box empty.

 

Elsinore

[RCR50]

Thanks Elsinore

 

Most people here have suggested that I open a parachute account - I must look into it before I post the dreaded letter.

 

Best wishes.