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I have somebody called recover my charges working on getting my charges back, they have calculated that they owe £1100 to me.
Capital One wrote back saying they would pay £378 as a good will offer. I have obviously rejected this offer, and have asked recover my charges to take capital one to court.
Recover my charges (who are working on my behalf) are refusing to take Capital one to court because of this new OFFICE OF FAIR TRADE investigation, the guy i spoke to said they wont take them to court because all cases are frozen until this investigation is completed, and it will take two weeks to be completed.
I have read things like this investigation might take upto 2 years, so i feel as if the information given to me is not true and that Recover my charges could indeed start a court case if they wanted to do so.
Could somebody please help me, as i am seriously considering canceling using Recover My Charges and doing the court case myself
You are quite right to think you have been misinformed.
The OFT case and the FSA *ruling* merely mean that the banks don't have to abide by the rules regarding complaints IF the complaint is about bank charges.
There is nothing to stop you starting a claim in a county court - however, a judge may decide to stay the case pending the outcome of the OFT case (whenever that may be).
Early reports indicate that this isn't the case and the courts are seeing it as 'business as usual'.
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okay thank you for your response, does anybody know how long this investigation may last, and also would it be within my best interests to satrt a court case now, and also should i cancel using Recover My Charges? i have been with them since early april and we arnt really getting anywhere, plus they are going to take 25% of anything i get + VAT
okay thank you for your response, does anybody know how long this investigation may last, and also would it be within my best interests to satrt a court case now, and also should i cancel using Recover My Charges? i have been with them since early april and we arnt really getting anywhere, plus they are going to take 25% of anything i get + VAT
I would be tempted to cancel with Recover if this is as far as they are prepared to go with your claim. Not sure if there would be a fee?
Your best bet is to file an N1 which you can download from here
Try to remember it's a credit card - not a Bank account as far as I am aware the courts are dealing with these still.
There is a letter in CAG template library where you can edit it to accept their offer as part payment of the charges and inform them you still want the remainder of these charges. there is also the spreadsheets etc.. in there too which will calculate the interest etc.. for you to use. The court fee can be claimed back off this company too.
I think Recover are willing to go further with this, but they are refusing to do so until this OFT investigation is over. I said it might take 2 years for it to be completed, and the guy told me it will be done in two weeks. Got a feeling that Recover dont really know what they are doing, and it would be within my best interests to cancel with them and claim the full money myself , using information of this forum.
I would certainly continue with credit card claims as they are different to the Bank charges - I have a few credit card claims on the go (for family) and I don't plan stopping any claims etc..
The high court test case is relating to overdraft charges from BANK accounts ONLY. it has nothing whatsoever to do with credit card charges.
Yes, all bank claims have been frozen until the case is done and any litigation will be stayed until that time but not for c/cards.
For example i had a stupid partial offer from CapOne yesterday, days after the high court test case was announced. Obviously they would stop the offers if the claims were frozen.
I just called the fos and they also confirnmed trhat all bank claims are frozen but credit card claims are still fine, so they will investigate them if need be, c/card co's will still make offers and settle so its game on.
Personally i'd sack this recover company. Why give them 20% of whatever when you can do it all yourself easily hear with everyone's help.
Settled:
Lloyds TSB - SETTLED IN FULL £2094
MBNA/Abbey Credit Card - SETTLED IN FULL - £460
Sainsbury's Bank Credit Card - SETTLED IN FULL - £50
Ongoing:
3 credit cards,
EGG - £220 - With FOS
MINT - £20 - With FOS
Captial One - £340 - With FOS
okay thanks for your replies, i will ring them and sack them first thing tomorrow (feels good saying that). Capital One had offered me £378 last week, which i refused since they owe around £1100.
come to think of it, recover my charges were meant to ring me last week to tell me what was the next step and they couldnt even do that. They are definatly sacked.
I have tried to dump Recover my charges as they arnt prepared to actually recover my charges until the OFT investigation is over, which could take upto 2 years. The two accounts that I have with them are Credit cards and are unaffected by the OFT investigation so they easily recover my charges now, i have enen asked fos and they said that they could. Only problem being to dump recover my charges they want a £150 fee, to cover the costs of the work they have done! I wouldnt mind but they havent even got the statements from one credit card, coz they dont know what they are doing, where as they asked my other credit card for £1100 and got an offer of £380, i refused that offer and they dont know what to do now.
Anyone got any advice on if they can charge £150? as it seems steep considering the lack of work they have done. If they had done a proper job then i wouldnt want to dump them.
Did they say what the £150 fee was for? Surely yopu were payong fopr results? a partial offer isn't a result is it?
If they don't know where to go after getting a partial offer then surely they not up to scratch?
Are they monitored by anyone (fos, OFT FISA ETC.. one of the bodies?) I would be tempted to report them if they are - unless they Breakdown what they are charging you for. .
I really don't know about these types of compnaies and what they could charge you for etc.. hopefully someone else has experience to help.
But it certainly sounds like they aren't up to the job if they are stuck now.
basically they have said the fee's are for administration cost, for example writing to the credit cards, now this seems like they are trying to do the same to me, as what they are trying to recover for me, surely 3 letters sent out dosent account to £150!
i spoke to a solicitor today who said i should pay the fee. i really dont want to 1. because i dont have that kind of cash and 2. they havent done much and dont seem to have any idea of what to do compaired to people on here.
i think there is an organisation that overlooks them, but i cant remember exactly what they were called, i think the Ombudsman has the number for who i need to contact though.
thanks alot for everybodies reply's your a big help, and i will be sure to donate some money when i win.
i have got my details back free of charge because they couldnt find the contract that i had signed.
Now to the next part Capital One's offer is final. I have got an application form to start a complaint with the Ombudsman, is this the right thing to do? The interest works out around £250, they said i may be able to recover the interest in my complaint.
i have got my details back free of charge because they couldnt find the contract that i had signed.
Now to the next part Capital One's offer is final. I have got an application form to start a complaint with the ombudsman, is this the right thing to do? The interest works out around £250, they said i may be able to recover the interest in my complaint.
Jim you should do the fos complaint form and send a full schedule for the charges & interest you are complaining (claiming back) about. Show the FOS the letter CAP1 sent to you etc.. so they see where you are falling short in their offer.
There is a letter in the template library to accept this offer as "partial offer" of your charges etc.. you can edit it to show you are still wanting the rest of your money back. Just cause CAP1 say it's their final offer - it doesn't mean you won't get the rest really - they are just pushing their luck really.
Send the "partial offer" letter to them saying you are going FOS - they'll soon send you your money!!!
I did my mum's this way and she did get full charges and interest back through FOS - FOS were very good - once the complaint went in mum just got letters updating her where the complaint was up to - this week they settled in full. took about 6-8 weeks ish. It was easy really. I chose that route for mum cause I live a long way away from my mum and it was easier than mum handling court papers etc..
yes must admit the whole court thing seems daunting and dont really wish to go down that route. I will send Capital One the acceptance of thier offer as a partial payment
What i will also do is send this letter off to fos with just the "Final Offer" letter from Capital One, i cant send any other documentation as of yet as i havent received it back from Recover my charges. I just think it will be a good idea to actually send the letter off to FOS now so i can get my foot in the door with the complaint and then send all the relevent documentation off to FOS as and when i get it back from Recover.
Good luck - fos will only need the list of charges and the "final offer" letter from Cap1 with your complaint form - so don't worry about the other paperwork - get your form off to FOS asap so they can start on it etc..
It won't take long really - and it's certainly less daunting than Courts for those who will sit and worry about this stuff.
OFT investigation
wrote back saying they would pay £378 as a good will offer. I have obviously rejected this offer, and have asked recover my charges to take capital one to court.
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Originally Posted by jimlfc6
