Advice needed re interest charges

mshelsbels

Hi,

My OH has had his statements from Lloyds back, and his charges amount to over £4,500. We're a bit confused now as how to claim back these charges with interest, as whilst using the 'interest calculator' on here it doesnt simply add 8% onto the total amount? Do we have to itemise each individual charge in date order? (there are dozens of them!!)
This is obviously going to make a huge difference to the total amount to be claimed back from the bank. Is there a limit to the amount we can claim back?

Any help greatly appreciated

Hels

Edinburghlass_2

Please check the Reclaim Help thread, link in my signature, for the posts on what you can and can't claim.

Yes, you need to input each charge individually as the interest incurred on the charge in 2001 will "gain" more interest than one taken in 2006. If you use the Interest Calculator this does it all for you and then you can print that out and send with your claim. Do several copies or at least save it somewhere as you may need the copies again further down the line with your claim.

For the Small Claims court there is a limit of £5,000 but this doesn't include the interest as this is really only applicable should you take your claim to court.

Have a read of the audio file in Martin's article as often you can read too much and listening to him explain it helps.

Step-by-step Guides: Bank Charges: Reclaim Your Cash | Bank Charges Video Guide | Top New Bank Account Calculator: Charge them interest Template Letters: (right click and save) Ask for charge details |Initial letter | Second letter | Small claims note Get Updates On Important Changes: Free Weekly Money Tip