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Jo C.
Jo C., Barrister
Category: Law
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Experience:  Over 5 years in practice
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If I had owed my Bank £126-45 how much interest would

Resolved Question:

If I had owed my Bank £126-45 for 13yrs how much interest would it have incurred
Submitted: 2 years ago.
Category: Law
Expert:  Jo C. replied 2 years ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
It depends on your contract with them but if you went to court then the court would order 8 per cent per year.
It is very unlikely that your contact as for a greater sum as that would be sheer extortion.
In any event of the bank have taken this from you then that is not subject to contract so the claim would be for 8 per cent per year.
Can I clarify anything for you?
Jo
Customer: replied 2 years ago.

Is the £495-67 a good offer

Expert:  Jo C. replied 2 years ago.
If the original sum was only 126 then it probably is.
I would ask for more though. They will usually go up from their first offer.
Jo C., Barrister
Category: Law
Satisfied Customers: 69790
Experience: Over 5 years in practice
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