reclaim charges Help

[maroondevo52]

Hi,

 

I'm not sure there's a great deal you can do, others may think differently. When I re-claimed charges from Cap1 my account was with Lowell Debt Collectors and my refund went to them to reduce my debt.

You could tell them you will carry on with Court Action if they do not send the money to you but I think even the FOS advise that the Banks will use the money to reduce your debt if you receive a refund for charges.

 

I'll see if I can get someone else to comment on this, I could be totally wrong.

 

Regards.

 

Scott.

[ims21]

I think if the debt is still owned by the OC then they have a right to set off.

 

If the debt has been sold to a third party then I don't think the OC have the right to send payment to that third party and you can demand that payment be made to you in full for you to disburse amongst creditors as you see fit. The OC, having sold the debt, have no claim against any payments made on it after the sale.

 

ims

[nomore12]

Many Thanks for the reply,

 

I understand what your saying

 

Just would have been nice to get the money into a current account of my choice instead of taking it off my capital one balance

 

as it would help me pay off another debt/debts and means I have more money to share between other debts to get them paid off quicker

 

my debt is also with Lowell debt collectors after cap one moved it to them

 

Just thought I would ask and make sure

[ims21]

Ah but have Lowell BOUGHT the debt or are they just collecting it as an agent?

 

If the former, you may be able to have the whole lot paid to you.

 

ims

[nomore12]

 

If the debt has been sold to a third party then I don't think the OC have the right to send payment to that third party and you can demand that payment be made to you in full for you to disburse amongst creditors as you see fit.

ims

 

Sorry ims21 didn’t see your reply might have been wiring a reply while you replied

 

Well as my post above says Lowell debt collections now owe the debt due to Cap one sending it to them

 

Just be handy to be honest to share the money out to other debts which would help me a lot hence why I thought ill ask if its possible

[nomore12]

Ah but have Lowell BOUGHT the debt or are they just collecting it as an agent?

 

If the former, you may be able to have the whole lot paid to you.

 

ims

 

Not really sure to be honest. I don’t deal with cap one now, been dealing with Lowell debt collectors

[ims21]

If Lowell had BOUGHT the debt you would (or should) have had letters from both Lowell & Cap1 advising of this.

 

I reckon you might find that Lowell are just acting as agent and Cap1 still own it so if that is the case I think Cap1 can set off.

 

Sorry

 

ims

[nomore12]

If Lowell had BOUGHT the debt you would (or should) have had letters from both Lowell & Cap1 advising of this.

 

I reckon you might find that Lowell are just acting as agent and Cap1 still own it so if that is the case I think Cap1 can set off.

 

Sorry

 

ims

 

Ah gutted, just would have been nice but nevermind

2nd part does sound right but not 100% sure as I know I did get letters from both

Guess ill have to get folder out in a min and have a check

 

Thanks for the replies guys

[caro]

Personally I'd stick out to get the money paid directly to you. I would also not accept it with £30 deducted. Does this include interest? You've been charged this money so you should have it back to use as you see fit, especially if you have more pressing debts.

 

If they tell you they can't do that then take them to court for a judge to decide.

 

Depends really if you want to take the easy way out or stick to your guns, plus of course it might get Lowells off your back if you offset it.

[nomore12]

Hi

 

Yes it does include interest rates

 

With Lowells im paying a token payments of a £1 a month as they seem to accepted it when cap one didn’t after explaining to cap one numbers of times that’s all I could afford after showing them IE/OE and only having a certain amount of money a month etc

 

To be fair I think im going to send them a letter and ask well request it gets paid into my account and see what the outcome is

 

I just think the money could be more use to me i.e. paying other debts then offsetting the balance which is kinda high anyhow so knocking that amount off isn’t really going to make much differences at all

 

just going to have to think of how to word it into a letter

 

[caro]

If you're on some kind of payment plan it seems reasonable that you should be able to distribute the money as you see fit.

 

You could simply word the letter something like this.

 

Dear xx

 

I have already reached an agreement with Lowell about the repayment of the debt, so I would be grateful if you would pay the refund of charges directly to me into bank account number xxxxxxxx, sort code xx-xx-xx. As long as you are prepared to pay the refund in this manner I am willing to accept the reduced payment you have offered.

 

If you do not agree to this then I will have no option but to proceed to court for the full amount plus court costs and the additional interest up to date of payment. I believe it would be in both our interests to settle the matter now.

 

Should you decide against resolving the matter by paying me directly, then please accept this as a letter before action. I will proceed to court in 14 days from the date of this letter if the money is not in my nominated account. Obviously I believe that it would be in both our interests to avoid the necessity to take the matter further.

 

Yours sincerely

 

nomore12

 

Do not send this letter unless you are prepared to do what it says.

 

If you want justification, if you've reached an agreement with Lowell, I assume that you've reached an agreement with other creditors, and it would be unfair to give preference to the debt with Lowell. Besides you may have other more pressing priority debts, but that's for you to decide, not cap 1.

[nomore12]

Hi

 

Thank you for your help

 

Will send letter tomorrow morning as to be honest I think the money would be more useful to share out between other debts

 

Yep im prepared to do what the letter says,

 

Just for info I did prepare to take them to court in the first place as was refusing to pay me any money back what so ever after writing them a letter saying I would take them to court to get the money back they did send another letter with the amount and offset the balance

 

so seems they want to avoid the courts at all costs so hopefully goes in my favour and does get pain into a account of my choice

[caro]

If you've already sent an LBA you could give them less time but yes it does look as if they'd rather not go to court. Wonder why.

[ims21]

Just been looking at this "set off" business and have confused myself now!

 

Searched the site for "Set-Off" and there are differing opinions such as yes/no/subject to the lenders t&cs.

 

Is there a definitive answer? I can't find one and would love to be enlightened.

 

Have posted here because it is relevant to the OPs case

 

ims

[caro]

Well we all know what we think of lenders t&c's. I'm sure that they would say they can off-set it.