MH V's Barclaycard

[mhewitson]

I have been thinking about this for a while, but I was finally prompted to look into it seriously by the fact that I need a new car (and want to go back to Australia on holiday...)

So, over the years I have had 2 bank accounts with BofS and 3 different CC ( BofS, Barclaycard and Capital One). To say I was amazed after working out the charges would be an understatement.

Barclaycard:
Charges Interest Total
440.00 173.74 613.74

I was figuring interest at 15%, granted more than the standard 8%, but then they were charging me more than that too...

I was lucky enough to have all my statements for the past 5 years, and so saved myself the time and fee for a S.A.R - (Subject Access Request).

Today I sent the following letter as 'Special Delivery'

Dear Sir or Madam,

Re. Account number: xxxxxxxxxxxxxx

I am writing to request that you repay all the default charges that have been applied to my account. I do not believe these charges reflect the true cost to Barclaycard of Late payments and going over limit.

The charges total £440.00 , plus as I believe I have been unlawfully deprived of the money I have calculated £173.74interest at the statutory rate, the amount the court will award.

I therefore ask that you repay me the full amount of £613.74. I have attached a full schedule of the charges and interest with this document.

If, however, you are willing to settle this in a timely manner I may be willing to consider a settlement that does not include this interest, and therefore will accept a repayment of £440.00



I look forward for a full response to this letter within 14 days.


Yours faithfully,

Fingers now Crossed.....

[e28bigalbexley]

Hi MH
Nice letter but why are you settling for almost £200 less than you could get.
If your quite well off and dont need the money then claim it all and send CAG the rest they would be very happy with that as a donation.
Also figuring interest does not work, in a court you have to issue an aurgement as facts, and im afraid Figuring, weather they have charged more is no good. If you wish to persue an interest rate higher than the Stautory 8% awarded by the court, then you should charge Compounded Contractual Interest at B/C's cash rate.
The templates and steps to help you are put ther for a reason, because they are tried and tested.
I do hope you get your money back but i personally would not fill out a N1 or MCOL using your method.

[mhewitson]

Thanks for the advice - ill keep it in mind for my next letter

And of course keep you updated on how I get on

[mhewitson]

Well, today I recieved a letter stating that they would, as a goodwill gesture credit my account a total of £176 (this being the difference between the 12 'recommended' by the OFT and what they actually charged me).

Of course I want to pursue for the full ammount, so it will be back to the post office on Monday for me.