Hi

I realise this is a really old thread, but i need help and was hoping someone could point me in the right direction, i was made redundant 3months ago so sometimes the money is not in the bank at the time premium credit take it, i;ve been charged £60.00 in penalties by them so far and would like to know which letter i send them to start with, says on one of the above posts prelim letter???

Thanks very much for your help.

Hey,

Can anybody help??? I've had a good look through the site and can't find the letters, i'm new to this and find it quiet confusing.

I juts need somebody to point out where the letter is mentioned above as a prelim letter.

Thanks

Hi, In this previous thread here ;

can't post link to previous thread it's entitled premium credit

the poster had the penalties refunded after writing them something referred to as a prelim letter.

Could somebody point me in the direction of this prelim letter or tell me what it is as i can;t find any mention of it on these forums.

I was made redundant recently and premium credit have taken £60 in penalties that i really need to recover.

Any help would me much appreciated.

Thanls.

just use the advanced search top right

and type in

reclaim creditcard fees

you'll need to basically do a spreadsheet after you have gotten all your statements via an SAR

and charge them at the int rate they charged you.

a letter can be found in the green library tab top left.

do some reading of a few threads to be sure you know what you are doing

dx

James welcome to the site.

I have moved this to a thread of your own and re titled it.

First of all,what you need to do is to send Premium credit a letter asking them to substantiate the fees they have charged you.

You want to see that these charges are a genuine pre estimate of any loss or cost associated with a breach of their terms and conditions.

You want them to prove that these are not penalty charges at common law under UTCC.

Ask them to furnish you with a breakdown of these fees in proportion to their actual costs.

You want them refunded if they cannot do this.

They will likely say that you agreed to their terms and conditions,and that their charges are fair etc etc.

This is a standard response,yet is not a defence.

Send to their registered office by recorded delivery and keep a copy.

To the Premier Credit person who has responded here,please contact admin [email protected] and explain your brief and scope to post here on behalf of Premium Credit.

Once you have done this,you will be granted permission to post further as an official company rep.

Thank you for your comments,and while we acknowledge that Premium Credit is regulated and authorised by the Financial regulators,it does not mean that your current charges are fair or proportionate.

In fact they exceed even the fees for defaults which the OFT agreed with Credit Card issuers in 2007 at £12

Thanks very much for your reply Martin ,

I'll write out a letter and post it here and hopefully someone can confirm it meets the purpose.

Thanks again.

Ok James,actually you can send it to the site team via the black triangle.

Given that Premium Credit are now here and obviously will be monitoring,posting the draft here will no doubt be an identifier to you.

With that in mind I would go for the option as above.

Hi,

I've received a letter back from premium credit, not sure what to do next, should I post it here or possibly PM it.

thanks for your help.

Hello again. I'll flag this for the site team and expect someone will get back to you.

My best, HB

Its been some time since my last post.

I think there is a just cause to be creating a designated info thread for these now.Hopefully we can sort this soon.

Hi,

Yes Martin you had helped me draft a letter to premium credit, unfortunately I don't have internet access all the time. Hopefully from now on should be able to access Thursday and Friday's. I've had a reply from Premium and am unsure now of how to proceed.

A previous post talked about sending them a letter with monybookers forms in it?????

Again thanks very much for your help, it's appreciated.

Hi James,I am not sure I have seen the post about a moneybookers form.

I think we need to be looking at what PC have said,and can advise from there.

Sorry, meant moneyclaim lol. Should I post Premiums reply here or PM it.

Yes lets have a look first.

Letter from PC below ;

"I write in response to your letter regarding the default charges applied to the agreement.

I can confirm that the charges of £20.00 were as a result of the bank rejecting your monthly instalment payment on the due date.

Premium Credit believes that the default charge it makes is a reasonable estimate of the additional administrative costs which occur as a result of a customers breach of contract and therefore is in line with the recent Office of Fair Trading guidance. Any default charges are advised to you under sections 3 and 7 of your credit agreement which you signed and therefore will not be waived."

They included a statement and a leaflet detailing their compaints process.

Thanks

Ha Ha.

Sounds like a typical response then.

The OFT have never agreed that a £12 default charge was fair never mind a 20 quid one.

When they did the investigation into CC default fees in 2006/7 they actually said it was for a Court to decide if a £12 charge was fair or not.

Terms and conditions ?

Well makes no odds since you did not have any hand in their creation so there is an imbalance if it is weighted in their favour (where they can charge you 20 quid)

Ok next step then is to say thank you for your reply etc....that the OFT have certainly not endorsed £20 charges,that if they maintain these charges to be proportionate to any genuine loss incurred as a result of a breach,they should provide a breakdown of the figure to support it.

Give them 14 days and make it clear that if they are unable to provide it,then you will be happy to let the Court decide.

If you want help with drafting something up-then its no problem.

Thanks very much Martin, I'll put something together tomorrow morning, I'll keep it short and sweet. I'll post it here and if you could have a quick look over it for me that would be great

Thanks.

Yes no problem.

Date

Ref:

Dear Sirs,

Thanks you for your reply dated xx/xx/xx. As you will be aware in my previous correspondance I requested a breakdown of your calculations showing these charges representing a genuine pre estimate of any losses or costs to yourselves as a result of a breach of terms and conditions. Yuu have failed to provide the information requested.

I also find your letter to be delibrately misleading. The OFT does not in any way suggest or advise that £20.00 is a fair and reasonable default charge.

I repeat my request that you furnish me with a breakdown of your calculations showing these charges representing a genuine pre estimate of any losses or costs to yourselves as a result of the alleged breach of terms and conditions.

Should the information not be forthcoming in 14 days I will be begin a small claims action seeking return of the penalties and interest.

Yours Sincerely,

Any comments

Date

Ref:

Dear Sirs,

Thank you for your reply dated xx/xx/xx. As you will be aware in my previous correspondence, I requested a breakdown of your charges and fees structure showing that these charges represent a genuine pre estimate of any losses or costs to yourselves as a result of a breach of my terms and conditions. You have failed to provide the information requested.

I also find your letter to be factually incorrect, the OFT does not in any way suggest or advise that £20.00 is a fair and reasonable default charge.

I repeat my request that you furnish me with a breakdown of your calculations showing these charges represent a genuine pre estimate of any losses or costs to yourselves as a result of the alleged breach of my terms and conditions.

Should the information not be forthcoming in 14 days I will be begin a small claims action seeking return of the penalties and interest,and also any costs associated in bringing about such action,with no further notice.

Yours Sincerely,

Oops almost forgot-if you dont know the name then sign it yours faithfully.

Thanks very much Martin, I'll get that off today

Cheers

I'm thinkin of modyfying it a bit to say ;

Should the information not be forthcoming in 14 days I will be begin a small claims action seeking return of the penalties and interest,and also any costs associated in bringing about such action,with no further notice.

Alternatively you may settle the claim in full by sending postal order/ Cheque in the amount of £***.** to cover charges plus £**.** interest accrued to date.

Yours Faithfully,

What do you think.