Interest question

MissCW

Well they had replied to my last letter saying they felt the offer reflected all the charges I was entitled to so I think the ball is in my court again to respond.

So shall I just reply basically repeating what I said in my last letter?

Someone told me today (which I want to check) that you to make sure interest claims are on record and in place you should really issue proceedings. Is this correct, I havent heard this before.

Orford

Someone told me today (which I want to check) that you to make sure interest claims are on record and in place you should really issue proceedings. Is this correct, I havent heard this before.

They're talking about s69 8% interest. Two schools of thought on this.
1. You are normally only entitled to claim s69 8% interest once you have filed at court. So if you file at court, this ensures your entitlement, but of course involves paying a court fee now.

2. By not filing at court, either because of the hassle or the burden of the court fees, others are relying on the FSA waiver to still being able to claim the 8% once the OFT test case is settled:

(16)
if the firm attempts to resolve a relevant charges complaint after 27 July 2007:
(a)
the firm must not seek agreement from the complainant that the resolution is in full and final settlement of the matter;
(b)
in relation to such complaints, if the outcome of the test case produces a result that is more favourable to the complainant, the firm must take all reasonable steps to pay any difference in the amount of compensation actually received by the complainant and that that the complainant would have been entitled if his claim has not been settled by the firm then; and
(c)
the firm must explain the implications of its approach and commitment;

(17)
upon resolution of the test case, the firm must apply relevant principles established through such resolution in handling relevant charges complaints under DISP (even if the firm is not a party to the test case);

MissCW

Ah I see... thank you Orford.

I must admit - does anyone else feel like this - that it is just so tempting to issue a claim form with the banks name in the Defendant box!! It would just be so satisfying ...!