Letter Of Claim - Joseph James Law - UClaim4Me - Waterloo Solutions Ltd

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Hi all l I'm looking for some much needed help .. I had a loan with Barclays and UClaim4me claimed compensation on my behalf.  Apparently I  should have paid a contingency Fee of £323.97 out of the money I received which they now want back and have now added £94.14 (8% Interest) and I need to reply in 30 days with the letter being dated 30/09/2022 .. My issue is the interest ? do I have to pay and what I can do to avoid the Letter Of Claim and further costs and if I should actually pay.? 

Looking forward to some much needed help 

Comments

  • If you employed someone to complain about a service then yes you have to pay them and yes they are allowed to add interest if you don't pay in a timely manner
  • DullGreyGuy
    DullGreyGuy Posts: 10,939 Forumite
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    When did they first request the payment? 

    8% is the statutory interest that courts will typically add between when the debt was due and the payment date. If they asked for the money and you ignored them then the interest isnt too unreasonable however if they havent asked for the monies then it feels unreasonable to apply interest from day 1
  • youngie24
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    I wasn't aware of the debt as COVID hit and I thought they'd already had their fees  upon receiving the money and didn't realize I had to pay them once I had them after id had the money ..

    I've only learnt now that I have this Letter of Claim as to what it relates too but don't want to just leave the debt and then have trouble with my credit rating   

    Do you think a deal of a monthly payment could be set up .. do I have to pay the full amount and also the interest ? the interst is nearly £10.00 on the £321 debt 

    Many thanks


     
  • brettcta
    brettcta Posts: 4,693 Forumite
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    Did they not send you multiple letters requesting/demanding payment?
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • sourcrates
    sourcrates Posts: 28,987 Ambassador
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    edited 25 September 2022 at 2:05PM
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    youngie24 said:
    Hi all l I'm looking for some much needed help .. I had a loan with Barclays and UClaim4me claimed compensation on my behalf.  Apparently I  should have paid a contingency Fee of £323.97 out of the money I received which they now want back and have now added £94.14 (8% Interest) and I need to reply in 30 days with the letter being dated 30/09/2022 .. My issue is the interest ? do I have to pay and what I can do to avoid the Letter Of Claim and further costs and if I should actually pay.? 

    Looking forward to some much needed help 

    Firstly, you instructed a claims management company to make a claim to Barclays on your behalf, I`m assuming for mis-selling?

    It would have been highly unlikely this company would do this for free, I`m sure they would have made clear the fee they would have expected to collect for a successful outcome.

    I won`t bleat on about how you could have done this yourself for the cost of a stamp, as I`m sure you were well aware of that at the time.

    So, my assumption about your current situation is that you have received a "letter before action" (LBA) asking you to come to an arrangement without the need to take this to court, and you have a 30-day window to respond, is that about it so far?

    The interest has been calculated at 8%, which is what a court would award, so you could go ahead and just pay the balance, minus the interest, they may decide it`s not worth the hassle pursuing the rest, or they may just continue to a claim and look to recover the full amount, it`s anyone's guess.

    Your other option (which is your most likely route, and the intended purpose of this letter) is make an affordable offer of payment to them, show them a copy of your budget so that they can see what your offering is reasonable.


    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Brie
    Brie Posts: 10,430 Forumite
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    youngie24 said:
    Hi all l I'm looking for some much needed help .. I had a loan with Barclays and UClaim4me claimed compensation on my behalf.  Apparently I  should have paid a contingency Fee of £323.97 out of the money I received which they now want back and have now added £94.14 (8% Interest) and I need to reply in 30 days with the letter being dated 30/09/2022 .. My issue is the interest ? do I have to pay and what I can do to avoid the Letter Of Claim and further costs and if I should actually pay.? 

    Looking forward to some much needed help 
    Sorry - a bit confused.  They have sent you a letter dated 30th September?  So 5 days in the future??  Odd.

    And you should have paid them £323.97 but weren't told that until now?  But they've charged interest going back about 3 years??

    I'm with Sourcrates on this - pay what they say you owe for the claim but not the interest and see what they do.  I don't think it reasonable to charge interest if they haven't until now asked for the ££.  Covid is just a handy excuse for them not having done things in a timely manner.
    "Never retract, never explain, never apologise; get things done and let them howl.”
  • sourcrates
    sourcrates Posts: 28,987 Ambassador
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    Brie..........If it is an LBA the OP has received, then they have a 30-day response time.

    Some companies use the practice of pre-dating the LBA, to cover time spent in the post etc.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • youngie24
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    ok many thanks for your comments all,   I will go offer to pay the claim and make and offer with repayments but obvs wont  include the intertest and see what they come back with ..  
  • youngie24
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    UPDATE - offer accepted with payment plan minus the interest .. Many thanks for your help and feedback  
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