Small Claims - interest etc

antoquintos

Hi everyone,

Bit of advice needed please!

It is a really really long story so I will try not to go into too much detail on it, but I have been chasing an outstanding reufnd for almost 2 years now. The company concerned has been the most unhelpful that I have ever come across, and the only replies that I ever get are to the effect of 'we still have no update but we are chasing this for you'.

Anyway, I have had enough of this so I have recently been trying to request that they simply send all of the details they hold for me. Once again, they have not done so, despite me following all of the steps outlined by the Information Commissioner.

As a result, I intend to begin a Small Claims process against the company involved. As I understand it, under a Small Claim, you are able to try and claim for additional interest/charges. Now my initial payment that I expected a refund for was £40.00 but - given that I have chased this for 2 years now, what would be a reasonable amount of interest to consider adding to my claim? This £40.00 was for the initial amount and does not factor in all of the time, postage costs, telephone call costs and indeed petrol costs in trying to chase this with the merchant concerned.

InsideInsurance

Interest is set by the courts at 8% PA and I believe its non-compound based on the instructions https://www.gov.uk/make-court-claim-for-money/work-out-interest

You need to calculate it to the day but roughly you'd be talking £6.40 interest.

bod1467

For commercial debts the interest rate used to be Bank of England base rate plus 8% per annum, calculated annually and pro-rated accordingly (if less than a year). For time frames longer than a year then my understanding is that it compounds annually.

But in any claim you also include any reasonable costs you have incurred, including phone calls, stamps, stationery, etc. You may also be able to claim for the time (in hours, and it must be reasonable and provable) you have spent in dealing with this, at your usualy hourly rate up to the court-approved rate (which I think is around £18 per hour). Of course you also include the filing and (if it gets that far) hearing fees in your claim.

In the grand scheme of things the interest of £6.80 (based on 8.5% ... 0.5% base rate plus 8%) is probably small change, but you'd certainly have a justification to include it.