Claim interest or not?

lotus32

Hi!

Does it really make a difference to claim interest right at the start of a claim? I made my initial claim including interest using the template letter on this site to LloydsTSB but I read on the CAG site that its best not to claim interest at this stage but later on. I havent heard from Lloyds but I am just about to write my 2nd letter so I am wondering if it is best for me to stick to my original claim including the interest or say that I am now claiming just the charges without interest? This is what a poster at CAG advised me to do but I would like to know what do people here think? Will it go against me to stick to my initial claim and hamper my chances of success? Total I am claiming inc interest is £753 (interest is £121). What have other people here done?

Many thanks!!

Lotus

nickmack

lotus32 wrote: »

What have other people here done?

You will probably find many people here have used interest as a bargaining tool as Martin has suggested. Please remember, it is just a bargaining tool and you are not entitled to it unless your claim reaches the court stage. If the defendant makes you a full offer of your charges before this point, you must accept.

Different sites will have slightly different suggestions and tactics. Go with what you feel comfortable doing. People have had success with various methods.

LozBingley

nickmack wrote: »

You will probably find many people here have used interest as a bargaining tool as Martin has suggested. Please remember, it is just a bargaining tool and you are not entitled to it unless your claim reaches the court stage. If the defendant makes you a full offer of your charges before this point, you must accept.

Different sites will have slightly different suggestions and tactics. Go with what you feel comfortable doing. People have had success with various methods.

Exactly use it as a negotiating tool

Stephen_Leak

Personally, I consider that there are advantages in adding to your claim in the “Letter Before Action” letter. Firstly, it shows the bank that you have done your homework about court proceedings. It also shows the bank how much it would cost them, if they let your claim get all the way to a court hearing. It can also be used as a bargaining chip. For example, if you settle for the charges but not the interest, they can say that they have paid you less than you were asking for, but you have got all that you were entitled to. <O:p</O:p