Ikea!

[remus]

Hi all, I am on a payment plan with Ikea, £2 a month, interest £2.89! This is so frustrating, they are the only company who have not stopped adding interest, even after sending a letter stating such.
Now have at least £125 in charges which I hope to get back, reducing the amount of interest,(as they are not prepared to stop adding it), and so make some progress with paying this off.
1. Should I cca them?
2. where is the prelim letter?
3. Should I just go for LBA?
I am poised ready at keyboard for any suggestions

[Alison82]

Send them a subject access request with £10, have a look at the FAQ's. I just got all my money back from them and my balance is now 0!!

Good luck

[sallysas]

http://www.consumeractiongroup.co.uk...lates-library/ will give you all the letters you need. All the best, Sally

[remus]

Thanks for your responses, Alison82 and Sallysas.

Ikea have responded to my letter, by saying they are prepared to refund half, but no further refunds will be granted.

Lba being sent next

[Bookworm]

I am very proud to have been the first one to have tackled Ikea, way way back when.

Unless they have changed tactics, they will cave in quite quickly once they get a claim form.

[remus]

Thanks for that bookie, nice to know LBA on its way

[remus]

Hi all, acceptance letter in the post for refund of charges
Any idea's on how to tackle the interest? my thoughts are I have been charged interest on a balance that included the charges, so my balance has been unlawfully (?) boosted.
I find it very frustrating that they are the only company still applying interest

[sallysas]

Yes the interest will have been partially increased because of charges. I think I am right in saying that if you have accepted their offer you are on a hiding to nothing trying to get interest now. Hope I am incorrect, someone more knowledgable may put us straight. What made you decide to accept their offer if I may be so bold as to enquire?

[remus]

Hi sallysas, Not expecting to get interest back, just in the hope they stop adding it on, soooooo frustrating
need to write again to see if they will stop adding the interest, and if I can back it up with some legal terminology, as the balance was unlawfully inflated!?
any ideas?

[remus]

Hi all, just received my reduced bill from Ikea, can anyone explain how the interest amount is more when the amount owed is 100+ pounds less

Is this right? are they allowed to charge what ever they like?

I was hoping to start reducing the amount owed, with the charges being paid back into the account, even with them still adding interest.

Anyone any ideas what I could write to Ikea, please

[sallysas]

I would assume interest is charged on the old amount and before the reduced figure (your returned charges) are taken off. Next month will look better if I am right.

[Bookworm]

Yes, that's what I'd think too. You usually get charged the interest incurred in month 1 at the end of month 2 (+/-). That's how they advertise by saying "up to 56 days interest free".

[remus]

Thanks sallysas and bookworm, I can see where you are coming from, so, the estimated interest they are saying for next month, should be the last high one.
I think I will write and ask them to close the account, see where that gets me, I've now got available credit, scary