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Hello, this is Jim - I am trying to find your previous question. Was this in relation to the bank (Lloyds) and a charge-back?
Yes, the 8% is the county court interest rate to claim for a sum of money owed to you by a defendant
I attach the template letter - it is for a debt action but the same protocol would apply to money owed by a bank. Can you see the template?
(insert name and address) (insert date)
LETTER BEFORE ACTION
Re: Claim for (insert sum)
I refer to the above matter and (insert details of the claim against the Defendant).
This letter is being sent to you in accordance with the Pre-Action Protocol for debt claims (“the Protocol”) contained within the Civil Procedure Rules (“CPR”). In particular, I refer you to paragraph 7 of the Protocol, and paragraphs 13 to 16 of the Practice Direction on Pre-Action Conduct and Protocols regarding the Court’s powers to impose sanctions for failing to comply with the provisions of the Protocol.
I therefore put you on notice of my intention to issue county court proceedings against your company for my losses should I not receive payment in full by 4 pm on (insert date 14 days).
Should court proceedings be necessary I will claim the court issue fee of (£….) (based on a claim of £……..) and court interest which I understand is 8% as a daily rate. Should I succeed in obtaining a judgment, same will be transferred to the High Court for enforcement against you and your company whereby further costs will be added to the judgment sum.
I trust the above will not be necessary and I therefore look forward to hearing from you as a matter of urgency.
No problem, please feel free to come back to me again if needed.
If you can please click to accept the answer and give me a 5 star rating I would be grateful.
Have a good evening,