Reaver V's Capital one

[Reaver]

Hi All,

Whilst I've been figuring out the spreadsheets Capital one have got sneaky, and sold my account to a dept collection agency called 'Lowell Portfolio Ltd'. I had this happen with my Barclay card to another agency and I'm still figuring out the interest they're charging me.

Any suggestions? I've seen something of a letter about stopping this sort of thing when an account is being debated/contested? think this is only if I've sent my pre-lim letter which im still preparing(as Im looking into contractual interest).

Also have we agreed on capital one's contractual rate of interest yet???

Reaver

[Reaver]

Hey All

Can Anyone help with the above and, I notice the spreadsheets are concentrating on the the interest charged to me and the 8% staturary interest. Can the spread sheet be used to work out the contractual interest??? Should I charge the contractual interest in my pre-lim letter?

Many thanks to all!!!

Reaver

[thesergeant]

Reaver,

You need to read up on all the issues in the FAQs and guides. There are also a number of available spreadsheets also available in the forum library.

If you are going to seek an Interest payment from them (I'll stay away from the word "contractual" as I see problems with that) you need to include that fact in your initial and LBA letters. Statutory interest (8%) is only applicable after you have lodged your claim at court.

Good luck ..........

[Reaver]

Many thanks thesergeant,

I've had a good read through and still reading.
I'll take that as a yes the interest payment needs to be included in my pri-lim letter as i believe thats before my offical Letter Before Action. I guess I need to ask for a copy of my credit agreement under the consumer credit act 1974 to find out the rate.

Still having difficulty answering the question of if there's a spreadsheet to work out the "contractual" interest?

Thanks again all!!

Reaver

[thesergeant]

Contractual Interest? - Judge doesent seem to think so and Why is no one claiming the contractual rate of interest??? are good reading re charging interest.

For spread sheets check out http://www.consumeractiongroup.co.uk...lates-library/ and Excel Contractual Interest Spreadsheet.

Read through this again. I don't know if I made clear you need to charge interest from the outset if that is the route you are going down. If you are looking for statutory interest only, then this can only be charged once your claim is lodged with the court. You can not charge interest to the bank and also apply statutory interest (8%). Hope that makes sense.

Good luck ...........

[Reaver]

Many Thanks there Sergeant,

I think I'm begining to get there. I've decided to put more energy into this,so today I'm sending a letter to the person who sent me my data request at capital one to get the final two missing statements. I've only given them 14 days to reply,date 8th feb 07, will post tomorrow, so we'll see.
Then with the right spreadsheet now I can work out the interest and include that in my pri-lim letter.

I've also got round to opening a new bank account with HSBC as I haven't been with them yet, so NatWest will soon fall.

Does anyone Know what Capital one's current rate of interest is then?

Also since I'm beginging to get the interest and have chased up the missing statements, I need to look at the DEPT! Capital Have sold my £531 dept to lowell a dept collection company I believe. What should I do here? Can I get captial one to undo this as I'm contesting the account even though I've not sent my pre-lim letter(just the data request,which did say I would claim If there were any charges) Or Should I send the letter to ask lowell to charge no interest and....... maybe a low repayment plan until I can get back the £522 of charges and interest from capital one????

[Reaver]

Hello out there in CAG land.

Capital one are atleast nice about sending me the couple of statement I was missing from my Subject Access Request. I've finished off my speady now using the highest rate of interest they used on me at 1.804% monthly, and 23.93% apr.

Just sending pre-lim letters to Alliance and leicester
Reaver V's Alliance & leicester - anybody know the interst rates???
and Lloyds TSB.

Think I might wait a while and see how things go. might send a letter to these 'Lowell Portfolio Ltd' asking them to freeze interest and asking for repayment options as they've bugged me with a few letters. one saying they might send someone round!!!!

ReaVer

[chaddyowl]

Lowell are scum, they will hound you with letters and calls if they have your number. if they dont have it DONT EVER GIVE IT THEM.

They hounded me on phone till sent letter about telephone harrassment from this site.

They dont send anyone round they send card through post which looks as if someone has been round and put it through letterbox.

You can also send letter from this site about NO PERSONAL CALLERS.

Good luck.

[Reaver]

Many thanks there chaddyowl.

I have indeed recieved that card today,saying someone called. It is pretty obvious though when it comes with all the other morning post.

Some great reasurance there,thanks.

I guess I'll send them a letter about droping the interest and maybe a payment plan until I can get capital one to cough up. What I'm claiming from them well exceeds my over due balance.

ReaVer

[chaddyowl]

Hey Reaver,
Drop them a line and tell them to suspend the account as it is in dispute.

Then you claim all your charges back from Cap 1 if you got any.

Dont be bullied by Lowell. PM me if ya wish. I have had plenty dealings with them and was unsure what to do before this site. They now listen to me rather than other way around.

[Reaver]

Hey Chadyowl.
Thats great. It really does seem like a way for capital one to get someone else to push me for the dept.

So do they have to suspend the dept (and not add any interest) if I ask them to?
They seem like Caboot,who I'm paying off my barclaycard dept to at the moment.so anything you can let me know about lowell may also help with them.
Reaver V's Barclaycard! How much longer must I wait?
They've bullied me into paying slowly......time for a fight back on both front I think!!

Reaver

[TANZARELLI]

[Your address]


[Their address]

[Date]


Dear Sirs

ACCOUNT IN DISPUTE

ACCOUNT NUMBER: **** **** **** ****

I am writing to clarify that I am currently in the process of requesting a refund of bank charges unlawfully made to my account.

I note from your latest correspondence that you have passed my account over to ………………… DCA - I need to make you fully aware that I am disputing the sum owed and, as such, you must refrain from any further action until this dispute is fully resolved.

If you do not stop this action and proceed by making any adverse comments on my credit reference files, I shall be forced to take legal action against you under the Data Protection Act 1998.

Yours sincerely



[Name]
Cc ……………………..DCA

[Reaver]

Wow cool.thanks tanzrelli.
Questions whats 'dca'?
would this work with caboot who I'm paying off for barclaycard? who I swear are charging me interest!?!

I've just finish my pre-lim letter and schedule of charges for capital one.Total charges £540, total claim including interest £1562.29.Post it tomorrow. Just going to do this letter to lowell and possibe caboot.

ReaVer

[Reaver]

DDDDDRRRRR ReaVer.

DCA - Dept Collection Agency!

[Reaver]

There we go,I've edited that and made a letter to capital one and lowell.Saved on postage on opedned to capital one pre-lim to add that.

I've been paying caboot £25 per month for a while now,de we think I can send them and barclaycard this letter and stop paying them???

ReaVer

Note to self: DCA- Dept Collection Agency

[TANZARELLI]

Originally Posted by Reaver

There we go,I've edited that and made a letter to capital one and lowell.Saved on postage on opedned to capital one pre-lim to add that.

I've been paying caboot £25 per month for a while now,de we think I can send them and barclaycard this letter and stop paying them???

ReaVer

Note to self: DCA- Dept Collection Agency

If your account is in dispute then you could state that until this matter is fully resolved, no further payments will be made in relation to the account.

HTH

[Reaver]

Cool.many thanks again Tanzarelli.

Are they aloud to charge me interest?(the dca-caboot) It just that last time I missed a payment and checked how much I owe them I swear the amount just didn't add up to what I've been paying. I'll have to have a look at my credit files a got a before I did my Subject Access Request's but I swear they've put marks against me on them too....

ReaVEr