claiming interest on top of charges?

craigc38

Im making a claim against barclays, I called them the other day and the guy i spoke to was surprisingly helpful although the procedure is due to take 8wks from start to finish, Im owed £1850 in charges but thats without interest.

How do I work out the interest?

The guy (Mike) asked how much the claim was for and I told him it was for the full £1850, not realising that you can claim on interest too.

Im likely to get a settlement offer of about £1200 without claiming for interest on top or without taking the matter to court, so I just reckon the request of the interst on top will just help build up the re-pay to nearer £1850.

Im also going to start claiming against capital one as I have incurred over £1000 in charges, I was silly a few years ago before i settled down with a couple of kids... but lessons are learnt and Im getting my money back so hay.

Any help is appreciated!

:beer:

princesskez26

craigc38 wrote: »

Im making a claim against barclays, I called them the other day and the guy i spoke to was surprisingly helpful although the procedure is due to take 8wks from start to finish, Im owed £1850 in charges but thats without interest.

How do I work out the interest?

The guy (Mike) asked how much the claim was for and I told him it was for the full £1850, not realising that you can claim on interest too.

Im likely to get a settlement offer of about £1200 without claiming for interest on top or without taking the matter to court, so I just reckon the request of the interst on top will just help build up the re-pay to nearer £1850.

Im also going to start claiming against capital one as I have incurred over £1000 in charges, I was silly a few years ago before i settled down with a couple of kids... but lessons are learnt and Im getting my money back so hay.

Any help is appreciated!

:beer:

Use martins calculator to calculate your interest, its very easy

http://www.moneysavingexpert.com/reclaim/bank-charges#interest

Kez

fallyhag

Martins calculator is excellent. It takes a while to input but you can print out the results and add as an attachment. I used it with my claim and it looks like I am getting a full refund

Beate

Please note you can only use interest as a bargaining tool during the letter period - only a judge can award interest so you only become entitled once you go down the court route.

MPG_2

Somthing to consider also, is that once on the road to court you should definately add the intrest to your claim. A lady at my county court confirmed today that it is the claiment who adds the intrest and the judge who decides if it ought to be awarded. Add away, I say.