What do I do now?

[David King]

Hello All

 

I have read through everywhere and can not find the answer to this question, could someone please help?

 

I sent off my preliminary letter to barclays stating that I would go further after the 14 days. The reply I received back was very non-commital as others have found, stating they are sorry how unhappy I am. They have stated in the letter that someone will contact me again by the 20th june. This goes beyond the 14 day deadline as stipulated in my letter. As they have acknowledged me, do I wait until they get back to me and see what they say or do I still proceed and send off my LBA letter after the 14 days? I hope this makes sense!

 

Thank you all.

[maforduk]

STICK WITH YOUR DEADLINE - Do not let them Dictate to you.

Their just biding time, hopeing that you forget.

 

Send the next letter out, the LBA.

[David King]

Thanks very much for that.

 

I have only just realised when starting the same process for my partner that I did not send a schedule of my charges whwn I did my preliminary letter. Should I include these in my LBA and should it be presented on the spreadsheet? I did include a total of the carges in the first letter.

 

Just a point to consider. The one thing I did leave out of my preliminary letter was the interest in addition to the charges as I did not have the first idea how to work it out. Is this common with others and does it make that much difference?

 

Many thanks

 

David

[Janet-M]

David can you please read the FAQ's as the question about interest is already answered in there.This is not to be awkward but it is extremley important that the FAQ's are read .

keep us posted

[David King]

Thank you for your advice but I have already read the FAQ's and find the answer relating to interest quite complex. I have great difficulty with numbers and was having trouble understanding it. I may have understood it wrong, but I took it to be discussing the interest when the matter actually gets to the court stage.

 

This was only a discussion point regarding interest as I am sure others do not fully understand it and my main query revolves around the one made above. Again, I apologise for what seems to be an obvious question but I am fully aware from reading all the info that you must read the FAQ's and all other things to avoid duplication. I am only asking as I have read as much as I can but I just needed some clarification.

 

Thanks

 

David

[jimfishybob]

David,

 

There are two types of interest.

 

The first is the interest the banks charge you for being overdrawn, this is usually at around 8-9% until you go over your overdraft limit when it shoots up to over 25%. Most people don't claim this as it's mighty difficult to work out. You'd have to know what the difference is between the standard rate and the 'unauthorised rate'. Suffice to say, it's rarely worth the time and effort.

 

The second type is a statutaory rate of interest that the courts say a claimant is entitled to. This is currently set at 8%. You have to work this out individually on each charge, thankfully, there are spreadsheets on the site that make this a whole lot easier. However, DON'T claim this unless you get to the moneyclaim stage as only a court can award it. (i.e. don't ask your bank for it ask the courts to award it)

 

This info is on the FAQ's but I didn't want you to think people were ignoring you. Please understand the mods on here are currently looking after about 4 hundred million people and the FAQ's are there to answer most questions people will have about the process so they're not tied up answering the same questions repeatedly and can help those in unique circumstances.

 

Hope this helps.

 

Jim

[David King]

Thanks very much for that!

 

You have described it a lot clearer than in the FAQ's and I am quite happy to just pop on my 8% if it goes that far. It is nice to know that it is quite a complex process and that I am maybe not as dopey as first believed.

 

Thanks Again

 

David

[David King]

I have sent off my LBA as Barclays had not responded to me in time from my first letter and the deadline for my action is not up as yet. However, in the meantime I have received a letter from Barclays stating that they are sorry how I feel but disagree with my view. They go on to explain the terms and conditions on opening account and say that I am fully aware of my obligations to them.

 

They then go on to offer me £710 without any admission to the basis of my complaint. The amount I am asking for is £2500. I am asked to sign and return the enclosed form to accept this with the cost and inconvenience inherent in a further dispute in mind and is intended as a gesture of goodwill. It has come from a the customer relations manager at the customer relations head office in London. I don't know if I can use the gentleman's name as a contact for anyone else to use!

 

I suppose I know the answer to my question but am seeking reassurance from fellow peers. Is this in line with other people's experience and does it lead to full amount being paid if I follow the process and continue with legal action? Or is there an alternative as he has already offered something? Any advice at this juncture would be greatly appreciated.

 

Many thanks

 

David

[BankFodder]

This is the standard approach from Barclays. If you read through the Barclays material then you will see that this is the case.

It is up to you whether you accept it, but others are refusing it and although you will probably have to issue a claim and although you will probably receive a defence, eventually there will probably be a settlement on your terms.