Vincenta vs Capital One

[bustthematrix]

Greetings!!! Finally made it thanks to the ever so helpful vendi, sorry WendyB!

 

Thanks Wendy, you're a starlet.

[bustthematrix]

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Hello Folks this is just to introduce this new thread. I'm a newbie CAGer and will appreciate all your support and tips.

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Have read through the forum posts and have been much encouraged by the success stories. In the 2002-2004 period, I was hammered by bank, credit card and loan providers as I was self-employed with poor cashflow and my credit suffered as a result. After deliberating the whole claim issue for almost two years now, I've finally decided to take some action with reclaiming - starting with my Capital One credit card.

 

My S.A.R - (Subject Access Request) letter goes out tomorrow, recorded delivery.

[WendyB]

Blimey, a starlet and a dame! I'm doing well for compliments today:D

 

You will find that Crap One are fairly straightforward,in my opinion, especially if its just charges and not default removal. Even better if there's no balance on your account, as then you get a nice cheque. They're a nice easy one to tackle first, to ease you into the whole charges thing.

 

Let us know how it goes and shout if you need help.

[steven4064]

Welcome vincenta.

 

You will find all the help you need here - I see WendyB is already on the case so you are in good hands.

[bustthematrix]

Hey Ho. I've got the CAG bug bug bug!!! I'm going after

 

1. Ge Money - MEAF - £200ish

2. Ge Money - Mortgage penalties - £2-3000

3. NatWest - Current Account Fees - £500ish

4. Abbey - MEAF - £125ish

5. Abbey - Mortgage penalties - £300ish

6. Abbey - Current Account Fees - £200ish

7. Capital One - CCard Penalties - £500ish

8. HFC Bank Loan - Loan Penalties - £3000ish

9. Welcome Finance - Loan Penalties - £2000ish

10. Council Tax - Rebanding - about £2000ish

 

Total = £11,825.00

 

I hereby propose with every success, a minimum of 10% (£1,182.50) of my 'winnings' shall flow straight into the CAG fund!

 

Yessireee!!

;-)

[steven4064]

Go get 'em vincenta.

 

I would advise leaving the NatWest and Abbey current accounts until after the test case. Don't do anything about the mortgage penalties until you have taken advice - they are not the same as bank/credit card charges and you may not be able (or at least wise) to reclaim them.

 

But credit cards, loan companies and bank loans - easy peasy

 

Cap1 usually gives in quite quickly as do GE Money - I would start with them.

[WendyB]

I'm with Steven on this one, go for the credit cards first. The upcoming test case may alter the way we need to proceed on bank current accounts so wait and see what happens there. Mortgage penalties can be a minefield so take advice on those before you do anything. Not too up on loans, but I do know from reading, both here and on other sites, that Welcome Finance are not nice people to deal with.

 

Just do the easy ones first, then as you get more experienced and knowlegeable work your way through them. No good doing them all at once - far too time consuming and confusing!

[ukaviator]

The Mortgage penalties, are you looking at recovering ERC'S?

 

(Early Repayment Charges)

[sillygirl1]

ERC's are a no-no as they are very hedged in law, but non payment by DD fees and other fees can be taken into consideration. You need to calculate the interest on these at the mortgage rate rather than the 8% rate used in bank calculations.

[steven4064]

Sillygirl is not so silly - she is absolutely correct.

[sillygirl1]

Thank you steven4064, perhaps you can click my scales....

 

I've had some very good advice from a local law centre here in London regarding mortgage claims and have decided not to go for ERC's as they are nearly always escalated to a higher court and you do need to have a solicitor present, if not a barrister, and I certainly can't afford either.

[steven4064]

There were several cases on CAG earlier in the year where people tried to reclaim ERCs as contract penalties in the same way that banl charges are claimed. In several cases, it got to court and the case was lost because the claimant couldn't prove they had a contract with the mortgage company. And no contract, no contract penalties.

The reason is that mortgages are a very different animal to any other sort of credit agreement - as you said they are hedged in law. Normal contract law doesn't (seeem to) apply and neither do CCA1974 or UTCCR1999.

[bustthematrix]

Hi All

Thanks for your various comments and suggestions.

Yep, certainly no point starting with the harder cases first is there? So I'll definitely be taking them in order of ease first.

On the mortgage front, I'm not looking at ERC/ERPs as that is only payable if you redeem your mortgage before a certain special period. If I did that on my current mortgage it'd be about £16K so "that ain't gonna happen!"

I'm looking at those awful DD returned and arrears admin fees and interest charged on top etc. Fortunately, it's not with my current lender but the one I moved away from about a year ago.

I'm certainly keeping them in my sights and with the way I was treated at the time, the least I can do is give it a go.

[bustthematrix]

Howdy Folks

Trust you all had a good Christmas and New Year?!?!?

Time for an update:

Abbey have replied to MEAF letter with a letter trying to say my old mortgage started almost TWO YEARS later than it actually did (meaning a lower MEAF would be payable) and to confirm I actually want a refund. I've replied and corrected their error. Should be just a formality to get a payment from them soon.

GE is yet to reply on the MEAF front. They charged me about £300 when I remortgaged away from them. Yet when I looked at all their docs for when I took the mortgage out, there was nothing to this effect there!!! I'm still tinkering with the idea of going after them for various fees applied to my mortgage account while I was with them for four years. Totals about £3000 for things like late payment/DD's bouncing/arrears account admin etc. Does anyone have any good information on reclaiming these?

Still waiting for SAR replies from Capital One and Natwest.

I've also taken on Council Tax!!! This is quite a biggie for me as I've lived here for 7 odd years. Two years ago I found out that a 4 bed detached not too far from mine (newer and bigger and more value) was on a band E. Another 4 bed Semi (newer and bigger and more value) is also on band E. This property is no 107 while mine is no 46. I've finally decided to stop sitting on my */?se and have spoken to and sent the valuation office a six page document showing all sorts of details why my property is NOT a band F but should actually be a band D and they're looking into it. Somehow, they mananged to allege that my 3 bedder is 141sqm while these fourbedders are a maximum of 127sqm??!?!? They were contending that mine is a bigger property! Of course they're wrong but fortunately, I have it on good authority from a RICS surveyor who valued my property in 2007 that it's size is a maximum 110sqm!

We'll see who gets the last laugh.

[steven4064]

Hi vincenta

 

Happy New Year to you too

 

It might be worthwhile having seperate threads in the appropriate forums for these claims so you getthe most informed help.

 

On the GE stuff - you can certainly claim back things like late payment/DD's bouncing/arrears account admin etc. Normallym we don't advise tryng to go after Early Repayment Fees. Howver, if you can show that it is not in your agreement you might be in with a chance. I think you should post a copy of the agreement on your new GE thread so we can have alook at it.

[bustthematrix]

Thanks Steven I'll consider doing that. With all those different claims, it's a bit of a mission!!!

[bustthematrix]

I've received my Capital One statements! Will be going through it to add up charges and then sending LBA.

 

Can someone please clarify

 

1) Where to get those spreadsheets/calculators to use in calculating the claim amount?

2) What interest rate to apply to the charges. Is it the same rate as that used by the card company itself?

3) Where to send the LBA for Capital One credit card

 

Many thanks.

[steven4064]

Hi vinceta

 

1) in the bank templates library

2) the same as the card itself

3) you need to send a preliminary request for payment first. Send it to customer relations - the address will be i the 'stickies' at the top of the Cap 1 forum

[martinengo]

Hi I was reclaiming bank charges with Lloyds TSB for £10000+ but its all on hold now so thought I will have a go at Capital (crap) One while waiting.

 

I got in the position that it defaulted and went to an external legal collections to collect balance. I have nearly paid it all off, about £650 left to pay.

 

Was going to send a template letter form money saving expert site but you are all talking about an SAR letter??? Is this better one to send and can i have the link to it.

 

Thanks friends

[WendyB]

Hi Martinengo

 

if you haven't got statements then send SAR 1. Data Protection Act, Subject Access Request letter - List of charges

 

Best also to start your own thread then you'll be able to get more advice.

[martinengo]

Thanks Wendy

 

The link didn't work but I have found it now. I will also get a new thread started as you rightly suggested.

 

By the way, Im from West Midlands too (not really top of snowdon)

[martinengo]

I may be going mad but I cant remember how to start a new thread!!!

 

Its been a long time

[AuntiePink]

Go to the relevant forum, the start new thread button is up top somewhere

[martinengo]

Thanks

 

Done it!!! Martinengo v Capital One