bank charges

[Chazer]

I have a court claim issued in June for Bank Chrges. The bank are willing to settle but only 6years from the date of N1 yet the first letter was written to them requesting statements and stating my intentions on 26th March but they will not repay charges back to March 2001 is this right a bit confusing

[johnny37]

Not a definitive legal answer but I believe they are liable up to six years from the date they were first made aware. ie the date of your first letter. Having said that the court should have awarded the amount you were claiming. I assume you added interest which can work out quite substantial. They bank did have the use of the funds. I think the court award is final but you may be able to go back if there is a mistake in calculation.

[Chazer]

Not been to court yet only issued I haven't even received a defence from them as yet . It's just the amount they are offering is only to June 2001 and I have charges going back further. I am willing to settle if they pay back to March 2001 but they are saying they only have to pay back to date of issue

[johnny37]

What do you mean by date of issue? The cut-off date is the date of your first claim letter plus six years (not the date you asked for your statements), otherwise they could keep procrastinating until you run out of time. Also did you know if it gets to court the court will award interest of 8%, either simple interest on the whole amount or compound interest on each individual charge if you can be bothered to work it out. There are calculators on the web. I will let you know. The fact that they have made an offer is a step in the right direction.

[Chazer]

The date I actually took out the Court Order was 26/06/07 they are will to pay back to 30/06/01 . My letter when I requested statements. Clearly stated that if I found that disproportianate penalties have been levied on my account i will be claiming them back. So they were notified on 26th March that I intended to claim them back. I have claimed interest and they only have until Tuesday to Defend