110CSW v Cap 1 Mstr

[onanblues]

I have all my statements from the day I began using the Capital One Mstr card. Is it absolutely necessary to request statements using the DPA approach?

 

However, Preliminary Approach for Repayment sits here on my desk ready for despatch along with a schedule of charges and interest compiled by the library Excel spreadsheet (a neat tool, thanks vampiress).

[DavidBellchamber]

You only need to request charges details under the DPA if you do not already have those details. Since you already know, you can send that letter on your desk asking for your money back.

 

I'm a bit confused over the interest you mention. The spreadsheet you have used calculates interest at 8% and MUST NOT to be added to your claim until you raise a court claim. At this stage the general concensus (see many previous posts) is that it's not worth the aggravation for the small additional amount you might get.

 

Hope this helps.

 

David

[onanblues]

Thank you for that confirmation, David. I’ll be sealing the letter in its envelope tonight for registered post tomorrow.

 

Yes Vampiress’ spreadsheet calculates the 8% on sheet3. On sheet2 my interest totalled £43. “Worth it”, I thought, since the learning of how to use the spreadsheet (and how it works) will stand in good stead for the other accounts I have to process in this way.

 

I read about your success with American Express, well done!

 

Rob

[Plutos]

I've been wondering about this - are you saying that we shouldn't add the interest on when we approach the banks for repayment? This seems like a lot of money to let them get away with if they do say yes

 

Thank you for that confirmation, David. I’ll be sealing the letter in its envelope tonight for registered post tomorrow.

 

Yes Vampiress’ spreadsheet calculates the 8% on sheet3. On sheet2 my interest totalled £43. “Worth it”, I thought, since the learning of how to use the spreadsheet (and how it works) will stand in good stead for the other accounts I have to process in this way.

 

I read about your success with American Express, well done!

 

Rob

[onanblues]

Hi Plutos,

 

In your preliminary approach for repayment letter (PAR) you add the interest that the charges accrued when the charges were applied to your credit/overdraft account, i.e. if your credit card interest rate is 2%, then the charges will accumulate at the same interest rate as your spending/overdraft - and since these charges are unlawful you can claim this interest back.

 

The other interest rate that you apply (8%) is ONLY when you make your claim to the court.

 

See all that here

http://www.consumeractiongroup.co.uk/forum/faqs-please-read-these/243-step-step-instructions.html

 

Hope this helps!

 

Rob