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Capital One Charges, an offer been made


Secretjay
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Hi,

 

I've recently tried to claim back charges of £210 from my Capital One account, these were over 9 years, from 2001.

 

Capital One replied offering me £56, this being the charge minus the £12 that they charge now and also only cover the last 6 years due to the Limitation Act.

 

Can someone confirm if I can only claim back 6 years worth of charges? (please note I am in Scotland)

 

Also I've been reading about compound contractual interest, can I add this onto my claim?

 

Thanks

Sjay

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Hi, sjay.

 

I'm in Scotland and claimed back 6 years worth of charges from Cap 1, this was the full charge, not minus the £12 rubbish they are telling you ;)

 

Regarding the Interest, there's a good tutorial written by another Mod Steven4064 which should help you.

 

http://www.consumerforums.com/resources/templates-library/51-guidance-notes/233-interest-tutorial

 

I'm not really sure how far you can go back, you can try for the lot, Cap 1 normally pay out when they receive court papers.

 

Regards.

 

Scott.

 
 

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Hi Secretjay

 

I am just in the process of making a claim and they initially offered me a paltry £46 which I rejected and they increased it to £440 ish which includes (I think) 8% interest.

 

I am just waiting for clarification of how they calculated it, as I asked for contractual interest and when/if they reply, I will then decide how to proceed.

 

They also told me that 6 years is the limit but I believe they should pay all of it.

 

They will also put time limits for acceptance in their letters but the actual offer letter that you have to send back states it is valid for 6 months.

 

Good luck

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Thanks Scott - great tutorial link.

 

Thanks Dotty - yes my letter says to reply within 14 days but my settlement form says 6 months.

 

I think I'll decline their offer and hold out for the full charge.

 

I've been looking into claiming interest on top of the charges. When I work out simple interest at 8% it's approx another £100, however when I work out contractual interest at 25% for each charge from the day it was added to my account right up till today it's approx another £700?? Can this be right?

 

Thanks

Sjay

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Hi have a look at my thread I claimed charges and interest applied to those charges and interest for the total at their rate of interest (at the time I think 19.6%)

 

http://www.consumeractiongroup.co.uk/forum/other-institutions-successes/70112-dpick-capital-one.html

 

Be an interesting read for anyone just claiming their charges and 8% statutory interest

 

dpick

cannot find it A to Z

 

http://www.consumeractiongroup.co.uk/forum/consumer-forums-website-questions/53182-cant-find-what-youre.html

 

 

Halifax :D

Paid in full £2295

 

MBNA:mad: 20/03/2008 settled in full out of court

 

Capital One:D

07/07/2007 Capital one charges paid in full £1666

19/01/2008 recovered PPI £2216 + costs

 

Littlewoods :-D

12/08/2007 write off £1176.10 debt.

 

JD Williams charges refunded in full £640

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dpick's thread makes for interesting reading & gives me hope anyway.

 

I think I'll still claim for the 9 years and add contractual interest on aswell, as you say Dotty if you don't ask, you don't get :)

 

Will get my letter ready to send off at the weekend, will post up my reply when (if) I get one.

 

Thanks

Sjay

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