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Does the 8% interest only get paid if it gets to the Court Stage?


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Hi,

Tried to find this out from these threads but cant see the answer to my question.

As I will hopefully be able to get back 6 years of bank statements from naughty lloyds and have used the calculator to add up the total charges, the 8% interest column adds up to a lot of money. Do most banks pull out before the court stage so they dont have to pay the 8% interest?

I just wondered why this was held back until this stage?

Thanks, T:eek: abac

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You do not actually add the 8% interest until you file a claim at court.

 

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/31460-step-step-instructions.html

 

See points 1, 2, 4 and 6. It is at point 6 that you can include the interest.

iGroup (GE Money) - AoS Filed late, defence late, amended defence also late despite extra time requested and granted.

Vanquis - Claim issued, no AoS or Defence received

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At the moment Lloyds are not settling until the court stage so you probably will get the statutory interest. But if they were to settle in full be fore you fiel the claim then you wouldn't be entitled to the interest.

 

Good luk. Lucid :)

Mindzai & Lucid vs Lloyds TSB

*Won unconditionally with contractual interest (29.85% compounded)

Lucid's Account - £749.62 * Joint Account - £2019.64 * Mindzai's Account - £595.65

*All settled in full - 6/2/07

*Hearings - 7/2/07

*Prelims sent - 9/8/06

_______

GOT A COURT DATE? A guide to the later stages

 

[sIGPIC][/sIGPIC]

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