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Dobbydog v Cap 1.. is this right ????


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Hi all,

 

Iv'e just completed my spreadsheet after getting my statements.

 

This is how it has come out.......

 

Overlimit and late payment charges 1,386.00

+ interest of 33.7% ( which is stated on the letter that came with the original card ) 3,976.14 = 5,362.14 :eek:

 

This seems alot !!!!

 

Surely they arnt going to back down to this !!!

Would it be advisable to just ask for the 1,386.00 and go for 8% at court stage ??

Any advice on this will be gratefully received. Many thanks x

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If you are claiming contractual interest you need to do it from the start (although if you go to court you can ask the judge to grant CI or the 8%).

 

The interest will seem a lot when claiming CI especially at Cap One's rate.

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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Hiya,

 

you should definitely go for the contractual rate, why go for less than what they have unlawfully charged you?

 

With regard to them backing down they really don't have a choice in the matter, for them to try and defend any court action would leave them open to being required to disclose their true costs which will never happen! As you are claiming CCI though, in my experience they will not settle b4 any claim is instigated and they will wait till the last few moments before settling. Stick to the guidelines on the site and you will be fine, my claim with Cap1 wasn't as high value as yours but to give you an idea I had a £200 credit limit and a balance of close to £2,000 in charges and CCI!!

 

kind regards,

shane

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All advice is offered freely & without prejudice

 

 

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Go for the higher rate, you may get the purchase rate instead, but it is still better than the 8%. . .

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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WOW !! I did'nt expect those responses :D

 

I tried a different spreadsheet last night. The one that calculates the interest on the charges. That came out at just under £500 so i would be claiming just under £2000

 

Errrm !!! dont know what to do now ????

 

Dont know what i'm doing really just following others on the site. Just seems a bit hefty asking for over £5000 :roll:

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What spreadsheet are you using?

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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What spreadsheet are you using?

 

 

Hiya UK. Iv'e used the one that you recomended on another thread http://www.shweb.pwp.blueyonder. co...erestcalcs.xls This is the one that came out as over £5000 total claim.

 

Then i did it again using the one in the templates England advanced for credit cards. This one i'm assuming calculates the interest on the charges and came out as around £2000 total claim. Just seems a bit more realistic. I'm almost ready to post my letter now but cant decide between the two :rolleyes:

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The one on the link is quite accurate. It has been used before. The APR you have will certainly make a difference to each charge when compounded.

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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