akashi vs Capital One

[akashi]

I am trying to claim back default charges from Capital One on a previous account I had with them, which was closed off in 2006.

 

I sent them a cheque of £10.00 and they posted my statements.

 

24/09/2008 - I wrote to them asking them to refund me all my charges. Charges: £298.00, Interest: £125.53, Total: £423.53

 

02/10/2008 - I received a letter from Capital One stating the account cannot be found and that I gave them the wrong account number!

 

15/10/2008 - I wrote to Capital One with a photocopy of a letter I received from them for defaulting in 2004 on the account in question! This letter had the account number printed on it.

 

23/10/2008 -Capital One wrote to me offering me the difference between my charges and the £12 and worked it out to £133 (out of £298.00)They also mention they are offering £10 as a 'goodwill' They were offering me £144 and not £423.53 that I was asking.

 

29/10/2008 - I wrote to Capital One declining their offer of £144 and that I would like the full amount of £423.53 I also mentioned taking this to court if they did not resolve this.

 

06/11/2008 - Capital One wrote back saying they were sorry that I did not accept their offer and that the offer of £144 was still available should I wish to take it. They will NOT be increasing this offer, it is their FINAL offer!

 

They mention their default sums are "both fair and legal" They go further on to say the OFT hasn't instructed them to refund any default sums.

 

The letter ends by explaining to me how I have 6 months to complain to the Financial Ombudsman Service!

 

 

Update: Financial Ombudsman Service

 

10/11/2008 - Wrote to FOS.

 

17/11/2008 - Received acknowledgement letter from FOS.

 

21/11/2008 - Received letter from FOS telling me they wrote to Capital One for further information. Once they got a reply they would passed this onto one of their adjudicators.

 

05/12/2008 - FOS wrote to me saying that Capital One is saying it's charges are fair and has not made a full offer! FOS will now investigate the matter in more depth.

 

15/12/2008 - FOS wrote stating that Capital One is still saying their charges are fair. FOS were going to start a "Formal Investigation" but Capital One offered £298.00 plus £34.76 in interest (total of £332.76)

 

Capital One told FOS that the amount they offered (£298.00) represents a full refund of charges. This is correct as the charges did total up to £298.00

 

However, I calculated the interests to total to £125.53 and Capital One offered only £34.76 and calling it "Provision for interest"

 

I am missing £90.77 in interest, should/could I claim this?

 

Any input would be greatly appreciated. Thanks.

[silverfox1961]

Hi,

sorry you were missed,

My immediate thought would be to snap their hand off. Yes it's not as much as you wanted but it is a result nonetheless however if you were feeling beligerent, go for the whole amount. It's yours.

 

 

fox

[akashi]

Many thanks silverfox1961 for your reply.

 

I thought one must win in courts to be entitled to the interest?

 

Has anyone, who has made a claim against Capital One get a similar offer, where the interest was not the full amount at first?

 

Depending on the replies I receive I might take their offer on this.

 

Many thanks.

[wednesday1867]

On a side note, how did you get the FOS to take an interest in such a short time, i filed a complaint with the FOS in February, they only got round to looking at it in September and its still ongoing. Im so far not impressed with the FOS.

[davey77]

That's what i thought! How did you manage such a speedy response?! 9 months for one of my complaints to sent for review just to be told by the biased FOS i was barking up the wrong tree. (Woof!)

[akashi]

I have no idea why the FOS has responded quickly, although I am not complaining!

 

Perhaps all the documents I sent helped (bank statements, highlighting the charges, copies of my letters and the letters from Capital One.

 

I also mentioned on my complaint form to FOS that Capital One were trying to stall my complaint and provided the relevant documents to prove this.

 

I still need advice, should/could I ask for the full £125.53 of interest or is £34.76 enough without going to court?

 

Many thanks.

[silverfox1961]

I'm sure I've read on other threads that when customer starts the court process to reclaim charges a lot of these companies bend over backwards to not let it get into the courtroom and settle before it gets there BUT it can be a long process. If you're prepared to go the court route there's lots of people on here who will help you with the court papers (unfortunately not me as I'm a little thick on that score )

If you do go to court you will have to put in for your costs too.

 

fox

[akashi]

Thanks for all the help.

 

I am still thinking of asking for the full £125.53 in interest. However, FOS has stated if I do not accept this offer I will need to provide proof as to why this amount is not enough??

 

I provided them a full schedule of the interest charges, what more can I provide?

 

Should I just send them another copy of this schedule? Should I also mention that Capital One has offered the full refund on the charges, but did not offer the full interest charges? All of this which FOS are already similar with as they wrote to me!

 

Thanks.

[wednesday1867]

I was on the understanding you only got the 8% interest if you went down the court route. What rate of interest are you claiming for?

 

If you go down the court route, youll have to pay to start the claim.

[akashi]

Thanks for your input.

 

I am claiming 8% interest on the charges. The reason why I have not accepted the offer yet is because of people saying they went to FOS and received the full refund including the interest.

 

I am wondering why Capital One has only offered part interest. Have others, whom went to FOS received similar (part interest) offers?