Thread: lana v Capital One ***WON***

Thanks for that Uk,

I've just had a letter putting my interest rate up too, which is why I asked the question, although i haven't been a bad customer, have gone over limit the odd time, purely by accident then been stung the month later by 20 quid charges for going over.

When I win with the Abbey will pay it off and then go for the charges back.

Thanks for your help though

Lana

Thanks for that adam, just a bit worried in case they call in the debt, can't afford it at the mo

Will think about it over a vodka tonight lol

Thanks tho

Nice one, music to my ears, both about the card debt and another vodka, will have to be careful or will get a rep for being a plonkie

Hi everyone,

Its been a while but have finally got round to going after CapOne again with one thing and another it got pushed to the back burner.

Have finally received my statements and I was wondering if I go after the interest they've charged me aswell (spreadsheet to calculate from Steven4064's signature), the interest on the charges isn't the 8% court interest.

The question is, do I add this interest to the claim (which doubles the whole amount) or do I just leave it and go for the 8% at court stage, am so confused, can someone help please

Thanks guys
Lana

You can do both - see my interest tutorial

Thanks for that Steven,

I got down to the bottom bit about claiming interest and then my brain turned to mush lol

So, If I understand this right, I can submit lba for charges + huge interest
then if I get no response submit claim for charges + huge interest + 8% interest + court costs?

If the latter is correct, do I add the 8% on each charge + interest on the spreadsheet so for example my first charge is a late payment fee of 20 in november 03 so would that be:
20.00 + int of 44.10 = 64.10 is this what I add the 8% to, if so, the 8% interest would be 22.89 so that would mean this charge would turn into 86.99?

Now see why i'm confused lol
Sorry to be a pain

Sorry Steven, one more question

On your spreadsheet the interest shows at 29.9%APR, the interest rate on my card currently shows 30.34% so should I leave your figure as it is?

Thanks again
Lana

Originally Posted by Lana241

Sorry Steven, one more question

On your spreadsheet the interest shows at 29.9%APR, the interest rate on my card currently shows 30.34% so should I leave your figure as it is?

Thanks again
Lana

Change it to your figure. The 29.9% was what GE charged us

Thanks Steven

Am still a bit confused about the interest thing though, wonder if you could look over my post #11 and try and make sense of it please.

Many apologies as I know you're probably really busy
Cheers

see below

Originally Posted by Lana241

Thanks for that Steven,

I got down to the bottom bit about claiming interest and then my brain turned to mush lol

So, If I understand this right, I can submit lba for charges + huge interest
then if I get no response submit claim for charges + huge interest + 8% interest + court costs? yes

If the latter is correct, do I add the 8% on each charge + interest on the spreadsheet so for example my first charge is a late payment fee of 20 in november 03 so would that be:
20.00 + int of 44.10 = 64.10 is this what I add the 8% to, if so, the 8% interest would be 22.89 so that would mean this charge would turn into 86.99? yes

Now see why i'm confused lol
Sorry to be a pain

Compound interest is a wonderful thing

(but it's what they charged you )

Many thanks Steven

All I can say is WOW lol

I really do appreciate your help with this. Thanks again and watch this space. Approach for payment being sent tomorrow

Will keep you posted
Lana

Hi Lana

Good to hear from you again.

Just out of 'interest', and to try and help, with my Cap 1 claims what I did quite simply was to calculate the point in time when, had it not been for the 'unlawful' charges applied to the account by Cap 1, the account would have had NO outstanding balance, and would therefore have incurred no interest charges. From that point onwards I included all the interest charges they applied to the a/c on the spreadsheet, and treated them in exactly the same way as charges they applied for late payment etc etc.

End result - they paid up almost immediately, and in full, and including the 8% Statutory interest that I added to each 'Charge', and to each ammount of interest, as I had issued the claim in Court - they paid up within about a week after my doing that!

Hope that helps, Lana.

All the best - Adam.

The problem is that you cannot work out exactly how much interest you have been charged without access to the software the company uses to calculate it. You have to estimate it the best you can. Adam's way is a good way of doing it. It's only problem is that it misses some interest charged before the point at which the whole balance is made up of charges. Its good point is that it is wholly defensible.

Thanks to you both for that, am so confused when it comes to this interest thing

All i've done is used Steven's spreadsheet that works out the interest at 29.9% and then on another sheet added on the 8% for the court cos knowing my luck it will go that far......it looks amazing as one charge back from Nov 2003 is worth just under £87.....that'll do me lol

Just might need a little help when they try to confuse me with interest twaddle in their letters rofl

Anyway, thanks again
Lana

Lana

If you want me to check your spreadsheet, feel free to e-mail it to me at my CAG address