If test case wins, will we get interest?

ghostmadlittlemiss

I've trying to reclaim bank charges from Halifax. Without interest, these charges add up to £216. With interest, it's £224.36. Either way, it'll be a lot of money for me to get back that I thought I'd lost forever. The question is, I don't think I count as being in financial hardship so I'll have to wait until the test case for a result. However, if the test case wins, will we get the charges refunded with interest? Basically, I want to know which letter I need to send next, the with interest or without interest one. If the test case will get us the interest as well, I'll send the with interest one. If not, I'll send the without one. What do you suggest? I hope this makes sense.
Kayleigh

borgbaiter

hi

one of these questions no one can answer, until the case is over, for claims still with the banks, unfortunately.

if your claim is at court statutory interest is added.

all this assumes the court case goes our way of course.


Borgbaiter

Nathan_Spleen

The simple answer is yes, but the rate of interest that would be used is unclear.


(15) to the extent that sums are ultimately to be paid to complainants in respect of relevant charges complaints that have been stayed, the firm must include in these sums an element of compensation in respect of interest charged to or lost by the customer as a result of being out of money during the stay period



http://www.fsa.gov.uk/pages/Doing/Re...sp_monthly.pdf

borgbaiter

hi

thanks for that. would be nice if they used the 8% as the courts do.


Borgbaiter