HDT Deposits Interest Amounts ?

Has anyone been awarded interest yet on their deposit for Herrada Del Tollo ?

Could they please share the info on here, without being specific ( i.e awarded interest of approx. 10,000 euros  andwas paid 9 months after te deposit was returned ).

Regards

Barry & Sue

Interests are being payed, depending on the Court, at 6%/year or legal interest (3,5-5,5%/year) since the payments were done.

In some cases, this has been more than 50% of the paid amounts.

About the tme passed between the main debt is paid until the interests are paid, say 2-3 months, depending on how many bank holidays you find in the middle (december is quite messy in this aspect).

It's crazy,  with interest rates at an all time low and the inevitable fact that the banks will have to pay interest and costs back. Why don't the banks just pay???????????

When I owe a debt I pay it anyway, if it was gonna cost me more because I was arguing over and I still know I had to pay. I'd stop arguing and pay. 

Oh dear. 

Many of our clients have been granted interests. Some on a bassis of a yearly rate of 6%, others the "legal money interest rate", that fluctuates between 4% and 5,5%

Dear Emilio,

You represented me in Court last Thursday, 28 May.   You advised me that the judge still has to make his decision but that you are 'confident' of a happy outcome.    We now have a 2 or 3 week wait until we have the judge's decision. In light of your comments posted on here, today, I am feeling more hopeful than ever that I will have my deposit [and interest, maybe] returned.

May I take this opportunity to say thank you very much for the way you have advised me and acted on my behalf. 

So, thank you Emilio and also thank you to Antonio Guillen at DWF in Manchester who has really done a great job too.

good luck to everyone who is still waiting for justice in this horrible situation.

John A

Hi guys

don't get to excited about any interest payments. we have just found out our legal costs are not to be paid by the banks.

what now has happened is that my legal team have taken all of my interest that I accrued over the last 7-8 years.

I have mailed my lawyer to ask for an explaination of why the interest I was awarded  happens to be just the right amount I owe them.

I will update this thread as I get more information.

cheers

Hi Trowell1,

that sounds very strange to me.  i've just calculated my interest [ based on a deposit of euros 63,000 and average interest of 4.5 % over 8 years] to be in the region of euros 22,000.  my legal costs, so far, are around euros 4,000. maybe your legal team will simply deduct their costs from the interest awarded and credit you with the balance? 

good luck,

regards, John

We're in a similar situation.  Just been told that our solicitors will be taking some (they haven't said how much) of our interest.  This is the first we've heard of this and nothing was mentioned in any of their paperwork. This is on top of them suddenly taking a third of our deposit in fees, three times the amount we were expecting, without any prior warning or information baking up their fee claims.  Ok, so the VAT rate has gone up by 5% over the past 3 years but the Bar rates must have gone up by a ridiculous amount to account for this.  It wouldn't matter if the court had paid our costs but they haven't :-( 

Joandjez,

We are in the same situation, are you comfortable with posting the law firm ? If not please send me a private message.

It seems as the solicitors want to use it as an opportunity to make further profits at our expense !

Perhaps one of the law firms who post here in a constructive manner would be kind enough to outline a typical cost for a legal case against the banks and whether this is cheaper as a group action or individual basis ?

Have sent you a pm.

Likewise, would be very interested to see what the 'typical' costs are and how much they're likely to rise during the course of the legal action.

Dear John123, we are still waiting for the ruling of your case, but we are quite sure it will be favourable to you.

Dear Joandjez and rjmdery, we think you should get in contact with your solicitors and ask them for a clear breakdown of recovered amounts, expenses (consider there has been a "Justice fee" to pay to place lawsuits before the Courts within the latest years -not now, fortunately- which was a non-refundable tax) and legal fees (both solicitors' and Procurador's). I'm sure if you talk with them, they will explain you the situation.

In our Firm, we sign before any action, a contractual document with the clients stating clearly how much our fees are going to be depending on the results. You should have something like that to discuss with your solicitors.

In case you haven't agreed an specific fees, Bar Association rules would be applied, which fluctuates between 9-14% of the claimed amounts (the more you recover, the lower the percentage is) for the First Instance Court step, and an additional 4'5-8% for the Apeal Court step.

It usually happens that Courts state that the bank should pay legal costs. In that case, the legal practice is that  solicitors take their fees from the very first amounts they receive (main amount, and after interests) with the compromise to send you the legal fees amount when they are set out by the Courts at the end of the process.

This is not only the usual practice, but also legal and according to the real meaning of laws, as the payment of the costs by the adverse ("condena en costas") is a reimbursement to the wining litigant of the legal expenses had by the losing party.

But, in any case, the point is you to contact your solicitors and make as many questions as necessary to have any doubt solved. We believe there must be some misunderstanding and that you will fix the situation.  

Kind regards   

hi all

many thanks Lucas

I have used your equation for costs and I have been charged nearly double, even when based on maximum % figures.

I am waiting for a reply from legal firm, to see what has happened.

regards

Lucas,

Are the bar rates applied to the indivdiual deposit being claimed or deposit plus interest awarded ?

Hi all,

This thread is like Chinese whispers with everyone afraid to name their solicitors. and wanting to pm each other. What happened to us all supporting each other and sharing information?

I sent 2 private posts to members asking for some information in case they did not want to respond on an open forum neither replied so if you dont want to share with the rest of us why post at all.

Appreciate this is nearly the end of a long long stressful journey for you, and you may not be getting as much as you thought but at least you getting something back! Surely something is better than nothing.

For us that have just started the journey we would swap places with you to have any of our money back and get some enjoyment from!

Should add was I approached another firm of solicitors several weeks ago who were offering your full deposit back without the need to go to court, reckoned they would have your deposit back in 8/12 weeks. Deal was hey kept the interest but only those who left their deposit with BBVA. Had that have been our circumstances would have jumped at the offer.

Hi Arlene

its true I am pleased I have recieved my deposit back, but after 8 years (3  in court) going through this nightmare, it was a delight to hear would be getting some interest on our original investment!

to suddenly have all of that interest taken away at the end is hard to stomach, more so when you hear from clients and lawyers saying that this shouldn't be the case.

pm me and will give you all of my details, now we have come to the end of this process

cheers