Preliminary letter

BarmyBlu

Hi All
I am new to this site but have just seent my first letter along with a shedule of claim charges spreadsheet.....But i totalled Bank charges £2169.59 with the total interest i should claim (using the on line interest calculator) which came to £2,800.06...making a grand total of £4969.65.
I am now thinking that i should not have included the total interest charges in my first letter...can anyone shed some light on this?.
(have i dropped the proverbial clanger at the first stage?)
Regards
BarmyBlu

Rex_Mundi

That seems an awful lot of interest added for that amount.

How much are your charges for before any interest is added?

BarmyBlu

The Charges Total was £2,169.59.......initial Interest was £630.47....total interest to claim was £2,800.06
These figures were generated using an on line interest charges calculator and starting from 19 dec 1999 to 19 dec 2006 (last 6 years)
All the above figures are detailed on the shedule spreadsheet, Justi think i should have put down the £603.47 total instead of the interest to claim to date figure...which i now think is the figure to claim when it goes to court.
Hope this sheds a bit of light on the figures i submitted (gulp)

Rex_Mundi

That's not £2800.06 interest. That amount is the total of your claim including interest. This would be the amount you can claim for if you issue a court claim.

BarmyBlu

O.K
Well that is the figure the bank has received,so looks as though i have jumped the gun a little and asked for the whole sum before it goes to court?
Do you think this will matter a great deal (will the bank see what i have done) or have i mucked everything up?

Rex_Mundi

BarmyBlu wrote:

O.K
Well that is the figure the bank has received,so looks as though i have jumped the gun a little and asked for the whole sum before it goes to court?
Do you think this will matter a great deal (will the bank see what i have done) or have i mucked everything up?

No, that's OK. On your next letter, point out that this sum is for your claim including interest.

If the bank offer to settle in full for £2169.59 before you issue a court claim. You must accept this offer. This is the maximum you are allowed to claim untill you issue a court claim. It is only when you issue a court claim that you are allowed to claim interest at 8%PA.

BarmyBlu

Thats great thanks
Well i cannot see the bank accepting to pay the full amount straight away so i will keep everything you have told me and apply it in my next letter. got a bit carried away with the two figures(shame,it was a nice figure)
Thanks again for your help and WATCH THIS SPACE....lol

will keep you updated on this thread