RedDeath@6:14 vs Capital One **WON**

RedDeath · 29th December 2006, 23:40

Just initiated the process against Capital One.
Subject Access Request is on its way, has been received and I am awaiting a copy of my statements.
I have read that a few people are asking for compound interest, some as high as 32% which is absolutely great as it can certainly inflate the value of a claim. However, there seems to be not alot of information on settled claims and if the compound interest has been indeed claimed back.
Any information on compound interest and any successfull claims would be appreciated. Keep it going guys!!!!

mbdiss · 30th December 2006, 00:50

Hi red death I know I had seen this some where, have a read of these two threads it may help you understand the process of claiming interest Whats the difference between compound contractual interest and contractaul interest?

Why is no one claiming the contractual rate of interest???

RedDeath · 30th December 2006, 01:10

Thanks for the links, have since found them and brain working overtime on how much I can charge!

ukaviator · 30th December 2006, 11:32

Hi Red death

The spreadsheets should work it all out for you. As a double check there is an online calculator to assist you.It is really easy to use.

Compound interest calculator

Ukaviator

RedDeath · 3rd January 2007, 17:25

posted in wrong thread. *edited*

RedDeath · 24th February 2007, 00:25

Ok, well its time to post an update on how the battle with Capital One is proceeding.

Subject Access Request was received after around 30 days (LTSB waited until 40th). Total charges £800. I have decided at this stage as this is not a huge amount not to bother with the 30% interest, not worth it for the size of the claim. Unlike 12k I am chasing from LTSB.

Anyway, sent letter asking for charges and after 14 days I still had not heard back, so i sent the letter before action. In between those dates Capital One offered me to settle at £12 instead of £20 for charges, so I wrote back and told them no thanks and that the juice was still running on the account. My 14 day LBA deadline is due to expire on the 27th.

Today I was in a good mood and thought i would phone them up and taunt them into settling, after all if it does go to court I am adding 8% so it is in their best interest to pay up now. Well, the department that deals with this does not take incoming calls. The girl on the phone read on my notes that they had received my refusal letter only a couple of days earlier, so I might give them another week before starting court procedures.

Anyway on my LBA I added a couple of pointers.
1) Full and immediate payment obviously.
2) Removal of all default notices on account as this is a breach of the Data Protection Act. Basically as the charges are illegal, when they processed my account details with 3rd party credit agencies they were transferring incorrect information and as such are in breach of sections 1-4-6 of the DPA. Sweet!
3) And just for a giggle advised that if conditions 1 + 2 were not met then i would also continue and complain to the OFT that they should not be suitable for a credit licence.

Now lets just hope conditions 1 and 2 are met swiftly. I was surprised by their tactics of offering part settlement so soon, LTSB are adopting more lower handed tactics.

RedDeath · 4th March 2007, 16:14

No response from Capital One yet, will give them until tomorrow before commencing court proceedings. This is where I need HELP!!!

How do I go about raising court proceedings? I live in Scotland and take it that this is a different procedure than MCOL.

Please help! Thanks.

Stornoway · 4th March 2007, 17:01

Have a read of the thread below. Problem in Scotland is that the small claims threshold is £750.

Good luck. I'm a couple of weeks behind you.
Claim In England

RedDeath · 4th March 2007, 17:26

We really do live in the middle ages. £750 limit?

I read that link Stornoway, and there is no need in hiring out an english po box. We can claim in either our home town or their home town. So me Scotland, them Nottingham. So I can go ahead and put Notts court down for it. Still a pain if they decide to defend as it may involve a journey down to Nottingham, which for the cost/value of claim/time off work is not really worth it. Still, there is the option that they will pay up before court so no need to attend.

Just read a bit more. For claims between £750 - £1500 you can raise a summary cause which to me seems identical to the small claims form (£39 fee, so not too bad).

Total claim so far:
Charges: £798
8% Interest: £155.83
Court Fees: £39
Admin Costs: £100
Exemplary Charges: £100
Subject Access Request: £10
Total: £1202.83

Just filling the form in at the moment, current question is. Any limit on claim details? Or can i expand the form as it is?

Stornoway · 4th March 2007, 19:37

Quote:

Originally Posted by RedDeath

We really do live in the middle ages. £750 limit?

I read that link Stornoway, and there is no need in hiring out an english po box. We can claim in either our home town or their home town. So me Scotland, them Nottingham. So I can go ahead and put Notts court down for it. Still a pain if they decide to defend as it may involve a journey down to Nottingham, which for the cost/value of claim/time off work is not really worth it. Still, there is the option that they will pay up before court so no need to attend.

Just read a bit more. For claims between £750 - £1500 you can raise a summary cause which to me seems identical to the small claims form (£39 fee, so not too bad).

Total claim so far:
Charges: £798
8% Interest: £155.83
Court Fees: £39
Admin Costs: £100
Exemplary Charges: £100
Subject Access Request: £10
Total: £1202.83

Just filling the form in at the moment, current question is. Any limit on claim details? Or can i expand the form as it is?

Redeath

I have to admit I dont know a huge amount abouts Scots claims as I was planning to go down the PO Box route but some things for you to check are;
1. I thought you had to have an english correspondence address to claim in england.
2. By going through their local court (Nottingham) you could make it more attractive for them to defend (lots of people have been resisting Citicards attempts to move claims to their local court).
3. do you have the same protection under summary cause against costs (i.e. if you lose under small claim courts you dont have to pay costs but not sure if it is the same principle under summary cause ?)

Good luck again !

RedDeath · 5th March 2007, 10:16

Hi Stornoway,
1. No you don't need an english correspondance address, you can either claim in your home town or theirs.
2. Yes, I may have to go to Nottingham but this is a small amount so I can still claim in Scotland £750-£1500 limit.
3.Maybe, lol, will find out soon enough.

Well, I have filled out my application to finally raise proceedings, going to court at lunchtime to hand it in, I guess I will find out then. Hopefully will find out about the timescales at the same time.

RedDeath · 6th March 2007, 22:14

Well, I made the trip to the courts and handed the docs in. Asked the girl if she could have a scan and make sure it is all ok, and it was. Big sigh of relief, last thing I need is another £39 to ammend it.

I should hear back in the next week with a date (6 weeks from now), I then need to get the summary action served, so it will be off to see the bayliffs. Hope this does not end up costing me too much, should only be postage charges I believe.

Well, the next stage has begun. Here goes...

RedDeath · 8th March 2007, 21:59

Time for an update.
Received today Cr@p one's final refusal of settlement, and re-offering £12 figure for charges as a full and final settlement. So...letter going out tomorrow refusing the offer and telling them this will now be pursued in court.

I also received a letter from the courts allocating Friday the 13th (ooohh) of April as the final return date, with court scheduled for the 20th. Time to turn up the heat on them.

I have also started a "new-ish" claim with them for removal of a default notice, so I am asking for a signed copy of the agreement within 14 days and have included my statuatory £1 postal order for it.

So tomorrow it's off to the sherrif's office to warrant the action! Let's just hope this is not too expensive.

RCR50 · 10th March 2007, 02:06

Reddeath

They offered you £12!!!??? The behaviour of these banks is appalling - The more I read the more amazed I become. It is all so underhand and insulting.

Good luck - hope you get it all back and all works out.

s1h · 10th March 2007, 15:06

I think RedDeath means the difference between the original charge and the new £12 charge.

RCR50 · 10th March 2007, 20:47

OOPS! - Sorry - silly me! Sorry for messing up your thread Reddeath - from now on I shall just read and say nothing.

Good luck.

RedDeath · 11th March 2007, 20:34

Hi RCR, things are finally moving on. Took a breather from the site as the SARs came in. Yes Cr@p One offered me a settlement, £12 per charge instead of £20, so really only offering me £8 per charge back. Stuff them!
Went to sherrif officer and it was £16 to get a £1 royal mail signed for letter delivered. Can i sue them as well????

Anyway, just a waiting game now hopefully a settlement should come in soon, I need the cash!!!!

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