Advise please on interest charges

[maximuscatticus]

Hi there,

 

I have just received a list of all the charges to my account with the Nationwide and in with the unpaid direct debits fees etc they also list the interest charges to the account. Can I claim these or should I just add the actual fees and asked for that back?

 

Thank you.

[MilkTrayMan]

Hello maximuscatticus!

 

The only interest that U can Claim, is the interest that relates to any unlawful Penalty Charge debits and their previous compounded interest (...interest on the unlawful interest).

 

Here is a link to a user-friendly spreadsheet (v1.9 courtesy of Mindzai) that will help work it out for U...

 

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

[Varangian3]

max

 

Before you do anything about preparing to sue the bank, you must familiarise yourself with the background reading and FAQs.

This link explains the different types of interest.

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/25457-guide-reclaiming-bank-charges.html?garpg=4

 

If you put the details into the spreadsheets then they will automatically calculate the interest for you that you will be able to claim back. Study all of this carefully, then post back if you have further questions.

 

Good luck

Varangian

[maximuscatticus]

Many thanks. I had read the FAQ pages but quite a while ago.

I have started to complete the spreadsheet but 1 other quick question, over the years Nationwide have refunded the odd charge here and there.

Should I work out which ones they have refunded and not list those atall or list the charge and their subsequent refund?

 

Thanks again.

[Varangian3]

When I did this, I specifically missed out the ones that had been refunded, so they were not part of the claim. That way you remove any possibility of them saying that the claim is inaccurate in any way.

 

Varangian