Brightbums against Capital One

[catherinebear]

Hi we took out a capital credit card in March 2004 we have since been in financial difficulties which has led to us now being told by Capital that we owe then an outstanding balance of £1300! However, when we received the statements we wrote to them setting out the charges that they had made and the interest which amounts to £1290.86. Therefore we do not see that we owe them anything and that the money they are claiming is made up solely of charges for late payment etc.

 

Do you think its best to go straight to the County Court on credit card charges or write to the Financial Ombudsman? Also does anyone know can you claim back for them charging purchase interest every month ev en though you have not purchased on the card or is this just the normal interest the bank would be entitled to under the terms of the card?

 

Many thanks everyone

CatherineBear

[citizenB]

Personally I would be filling in a spreadsheet for the charges and getting that sent off as soon as possible. I dont know about the purchase interest charges.

[slick132]

Hi CatherineBear,

 

I've lifted your post from another thread so it can be answered here without hijacking.

Hi there

 

Congratulations have just read all your thread. When you do the particulars of claim do you fill in on the Form N1 and then attached the typed Particulars. Also I am still confused can I claim interest on the charges together with interest on the retail interest they have been charging, dont understand how you have charged some interest and then some more. Would appreciate any help please as just starting this one although we won £13000 through this site from Abbey. Well done to you and all the other people who make this site the good thing it is.

CatherineBear

POC's and guide are here -

N1 POC's for Credit Cards: Abbey, Barclaycard, Capital One, Citicard, Co-op, Egg, Lloyds, MBNA, NatWest

http://www.consumeractiongroup.co.uk...lates-library/

 

The Site recommends you File at your local County Court if poss and not via MCOL, for various reasons.

 

You can claim back your charges and the interest you paid on those charges. Use the Advanced Credit Card Spreadsheet from here - http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html

 

When you file at court, then you add on the Statutory 8% interest.

 

Have you sent off your Prelim Letter and LBA and did you claim the charges and interest on those chgs as required.

 

Otherwise, you can just claim the charges plus 8% (when you File your claim at court).

[catherinebear]

Hi there

 

Thank you so much for your help, I have done the usual preliminary letters where they offered a stupid amount. When I have done my calculation I have taken the charges and used the on line calculator spreadsheets frighten me!! do I then add another 8% on top or is that it, also I am still confused as to whether I claim back this retail interest they have charged me each month although I havn't used the card for yonks. Sorry to be so thick but I have been ill and have lost my way a bit and need to get back into the swing of things.

Many thanks

CatherineBear

x

[steven4064]

catherine

 

You can claim back that proportion of the retail interest that they levied on the charges - in your case that is pretty much all of it. When you claim in court you can add 8% to every charge and every interest payment - have alook at my interest tutorial (linked in my signature).

 

If you feel confident, you could actually charge a great deal more interest than that in restitution (I got 18.9% compound in my claim against Goldfish on top of charges and retail interest)