Hi Paintball How do I work out the interest on each individual charge then? My interest rate is 21.04% (1.604% per month) according to the interest calculator that you sent, but I'm not sure how to go about working out the interest on each of my charges. Sorry if I'm being a bit thick!

WOW! I think I'll need to spend some time reading through all this. I had more or less given up with the idea but maybe not now!

Hi Dera2005 I was paying £50 per month to NCO when they made me the offer to pay 50% in F&F. I paid them £681 (which I borrowed from my other half) Capital one say the balance now is £595, but the a/c is closed and they're not chasing me for it. I wish I'd just continued with the monthly payments!! A lesson for others here maybe!

Hi Paintball, thanks for your reply. Why N1 route? Not sure how to go about this. I used mcol with Nationwide. I assume the N1 route gives me more options as mcol has a very limited space for claim details. I haven't used this site templates before. (I used Martin Lewis template letters etc for my Nationwide claim) As far as the interest I assume you mean contractual interest as opposed to the 8% interest. God only knows how I'll work that out! Any clues?

Thanks Karen It was getting a bit lonely with no-one talking to me! I'll wait and see how you get on. If you are successfull with FO I'll go that route too. Keep in touch. If I had continued to pay NCO the £50 a month I was paying them before their offer in F&F I would have completely cleared the balance by now and could have taken my charges from Cap 1 thorough MCOL with great delight! Good luck. Let me know how it goes. And thanks for taking the time to reply.

Is there anyone here who is able to help? I really need to know if its worth pursuing this. Should there be a balance after a full and final settlement...or not? :???:

Thanks for answering I have already had SARs and submitted claim to Cap 1 for £174 in charges and added 8% interest at £66.27 totalling £240.27. Have also asked for removal of default. They have ignored the content of my letter saying only that they have refunded £66 goodwill being difference between what they charged me and the £12 fee but insist that it will go towards the balance outstanding. How can I have a balance on an a/c they closed? They instructed NCO to collect the debt. NCO offered full and final settlement of 50% of debt. I understood that to mean that the debt would be settled.They (Cap 1)say that there is still a balance of £595. They also say that they are not chasing it and that the a/c is closed!!! So why are they refunding what they owe me to the a/c?

Can anyone help.......pleeease?

Hi, This is my first post here. Successfully reclaimed £3241.46 from Nationwide.... But Capital One are being a nightmare!!! :-? Started claim with Cap1 for £174+ £66 interest. They refunded £66 goodwill straight to closed a/c to pay against balance they say is outstanding. Problem is that NCO collected the debt for them and in June 2005 I paid 50% of the balance outstanding in FULL & FINAL SETTLEMENT. Cap 1 say they have closed the a/c and are not chasing the balance they say is outstanding, but my credit report says "partial settlement" and still shows default. I have spoken to NCO who say I don't owe anything, and Cap1 who told me to ring a number that would help and turned out to be Debitas Legal Services. Spoke to Mr Coleman there. Explained everything and he said I had a very valid point and there shouldn't be a balance if NCO collected in Full & Final settlement. He agreed that anything I reclaim from Cap1 should be sent by chq to me and that my credit report should say "settled". He said to keep at them. My question is, is it worth paying the £30 mcol fee and taking the court route if Cap1 are only going to refund against the balance they say is on the a/c? Even if I get all charges back I would still have a balance according to Cap1. I don't agree and have told them so. I have asked for a chq direct to me but they said no..£66 goodwill is final offer and will be paid against outstanding balance. I should now go to mcol, but if its going to cost me £30 and I have nothing to show for it at the end, I'm not sure if theres any point. If I had continued to pay NCO at a monthly rate instead of taking up their offer where I paid 50% of the debt in "full and final settlement", I'd have almost paid it off by now and my credit report would then say settled not partial settlement! Any ideas? Should I pursue my money and am I right to expect a chq direct to me? If I knew that they couldn't refund against this so-called balance, after their agents accepting a full and final settlement, I wouldn't hesitate to pursue them. I expected "full and final settlement" to mean just that! Any advice would be greatly appreciated.