mcuth v RBoS ***WON***

[innocent]

Good luck mcuth....

 

 

Fantastic letters.... very concise and authorative..

 

 

Succeeded with 2 claims last week but now considering re-issuing some prelims and LBAs for future claims in order to claim contractual interest

 

*Can I ask what spreadsheet number did you use?

 

*Can you post your POC here? I take it that it will be a N1 as I understand it would probably be too long for a MCOL in other threads?

 

 

 

Apart from all this; good luck; following with MUCH INTEREST :D

 

Innocent

[innocent]

DUH.... read pages 3 and 2 and not 1

 

Been reading all night my excuse

 

Obviously seen POC now... ty

 

 

 

Innocent

[livelylad]

I'd print that page out too - think their rates are changing in the new year.

 

 

 

 

 

 

[THUD]

 

Cheers

 

Michael

 

Cant use the spreadsheet you gave mate, I dont have the software on this comp I normally use the one at work.

 

ok these are my figures Dates from 93 to 00

8% £1290 charges Int £1079.87 Total £2369.87

 

15% £1290 charges Int £ 4470.53 Total £5760.53

 

29.84% £1290 charges Int £21,003.26 Total £22.293.26 This is my favourite.

 

Still need to work out the daily rate.

[mcuth]

Good luck mcuth....

 

Fantastic letters.... very concise and authorative..

 

Thanks

 

*Can I ask what spreadsheet number did you use?

 

I used Mindzai's excellent spreadsheet that does a great job of calculating compound interest. The latest version is available from a link in his signature, which you can find here

 

*Can you post your POC here? I take it that it will be a N1 as I understand it would probably be too long for a MCOL in other threads?

 

PoC are already detailed in this post on p2

It's very definitely an N1 job - the PoC don't even fit into the section on the 2nd page of the N1, so they have to be attached. I haven't used MCOL in any of my claims yet though - firstly I wouldn't be able to stay within the word limit, secondly I don't trust issuing a court claim online when I'd still have to send in the spreadsheet & everything afterwards, and finally, I get a certain amount of satisfaction going down to the court office to issue the claim

 

Cheers

 

Michael

[mcuth]

Cant use the spreadsheet you gave mate, I dont have the software on this comp I normally use the one at work.

 

Ahhh, ok - the daily rate formula works out as:

the sum of the charges & interest paid, multiplied by the annual interest rate % and divided by 365

 

29.84% £1290 charges Int £21,003.26 Total £22.293.26 This is my favourite.

 

I wonder why?

 

Cheers

 

Michael

[bill-k]

MC & LL - I used the method above, originally. However, it delivers just a flat-rate, like simple interest, whereas the claimed amount increases daily at a compound rate. Not much difference in smaller claims, but if you have a biggun (as you guys surely do), then it's worth getting it compounded, I think.

 

In amongst all the banter here on Glenn's thread, there's some stuff on this. Bong's post here encapsulates it, I think - and I believe Glenn agrees further down the thread, when he can get a word in edgeways !!

 

HTH

 

http://www.consumeractiongroup.co.uk/forum/post-421158.html

[mcuth]

MC & LL - I used the method above, originally. However, it delivers just a flat-rate, like simple interest, whereas the claimed amount increases daily at a compound rate. Not much difference in smaller claims, but if you have a biggun (as you guys surely do), then it's worth getting it compounded, I think.

 

Thanks Bill - I did realise that one, but I left it just for ease of calculation. Because of the effect of compounding, you can't accurately quote a proper daily rate. For me, the big calculation is over the last 7 years, so if that means just having simple interest from claim date to settlement, then so be it

 

Cheers

 

Michael

[bill-k]

Michael, I guess we're both seeing it from two angles. I personally thought it made things simpler, as it doesn't require you to work out a daily rate at all. In effect, it just refers back to the spready. When it comes to final settlement, then they just have to extrapolate the original spready's calculations, or you send them an updated one.

 

I think if you start with that, then you've covered yourself in case they decide to make it a long drawn out saga. With a large initial amount being compounded, that's another bit of pressure on them to shift their a$$es, methinks.

 

I appreciate that it's a dead argument with regard to your current claim, but LL might find it useful.

 

Cheers mate.

[livelylad]

Thanks guys I will have to try and work it out leter as I am being dragged (kicking and screaming) out shopping. !!! :mad:

[mcuth]

Oh absolutely Bill - for me it's just simpler to have a daily rate quoted from the start (unless of course the judge would like compound interest calculated if it ever gets to a hearing ) - much like my usage of the interest rates as discussed earlier, and the amount I'm claiming from NatWest in damages for their DPA breach (discussion with Battleaxe on that thread).

 

As long as I'm happy with it, then it's fine by me

 

Cheers

 

Michael

[bill-k]

As long as I'm happy with it, then it's fine by me

 

Yep - that's the bottom line !!

[mcuth]

Received my copy of the N1 today

Claim issued 15th December, sent 19th December, deemed served 21st December. Defendant has until 4th January 2007 to reply.

 

Woo-hoo!

 

Cheers

 

Michael

[livelylad]

Received my copy of the N1 today

Claim issued 15th December, sent 19th December, deemed served 21st December. Defendant has until 4th January 2007 to reply.

 

Woo-hoo!

 

Cheers

 

Michael

Get in my son. As a matter of interest Michael how much was the court fee?

[mcuth]

Get in my son. As a matter of interest Michael how much was the court fee?

 

The court fee was nothing - I managed to get 100% remission, since I'm currently unemployed (note, had to be remission, not exemption, as I'm on contributions-based JSA, not income-based JSA ). Thought I'd better get the claim in before starting my new job!

 

Cheers

 

Michael

[livelylad]

The court fee was nothing - I managed to get 100% remission, since I'm currently unemployed (note, had to be remission, not exemption, as I'm on contributions-based JSA, not income-based JSA ). Thought I'd better get the claim in before starting my new job!

 

Cheers

 

Michael

 

 

I guess I am going to have to pay £400 then.

[bill-k]

 

I guess I am going to have to pay £400 then.

 

Blimey, LL - that figure has just caused me a dishonourable discharge !!

 

Pardon me.

[livelylad]

Blimey, LL - that figure has just caused me a dishonourable discharge !!

 

Pardon me.

 

Its breaking my heart as well

[mcuth]

 

I guess I am going to have to pay £400 then.

 

Sorry mate

 

Cheers

 

Michael

[HydraUK]

I've got court fees of £250+AQ to pay (£250 today! How close to Christmas??)

 

It really helps alot to think of it as an investment with mutli-fold returns expected within a couple of months....

[mcuth]

Got back from my Xmas family trip yesterday and found 2 letters waiting for me - glad to see HMCS & Cobbetts haven't been taking a Christmas break :

 

1) "Notice that Acknowledgement of Service Has Been Filed" from the Court.

Defendant has 28 days from date of service (21/12/06) to file a defence - so now has til 18/01/07

Defendant's name has been "corrected" to read NATIONAL WESTMINSTER BANK PLC (*)

 

2) Letter from Cobbetts that encloses AoS and simply states:

 

Dear Sir

Our Client: National Westminster Bank plc

Claim Number: 6SN05490

 

We are instructed on behalf of the Defendant in the above matter.

 

We enclose Acknowledgement of Service for your information.

 

Yours faithfully

 

Cobbetts LLP

(*) BTW - I know NatWest are part of the RBS Group now, but why would the Defendant's name be "corrected" this way around when they're separate entities with separate registered offices??

 

Cheers

 

Michael

[mcuth]

(*) BTW - I know NatWest are part of the RBS Group now, but why would the Defendant's name be "corrected" this way around when they're separate entities with separate registered offices??

 

Spoke to the court office this lunchtime, and it's at Cobbetts' request - but the court don't know why they did it either. The court are going to write to them requesting confirmation, so there's a paper trail and the judge knows it's not me being daft

 

Cheers

 

Michael

[livelylad]

Total Muppets.

[mcuth]

Spoke to the court office this lunchtime, and it's at Cobbetts' request - but the court don't know why they did it either. The court are going to write to them requesting confirmation, so there's a paper trail and the judge knows it's not me being daft

 

Ok, having just received the Notice of AoS on my NatWest DPA case today, it all gets curiouser & curiouser - the address for service on that is the same as the one I issued the RBoS claim against - Group Litigation, Princes St in London. But Cobbetts are quite clear in their AoS letter quoting this RBoS case that their client is NatWest Oh well, I know I issued against the right Defendant & addresses, up to the court to sort that one out now I think

 

Cheers

 

Michael

[bill-k]

FWIW Michael, I got Kay Majid at RBS Group Litigation, 1 Princes St.

 

email: kay.majid@rbs.co.uk

 

fax: 020 7714 4455

 

tel: 020 7714 4447

[livelylad]

The name Cobblers is very apt I think.