Me v Cap one

[dx100uk]

pdf

 

follow the guide please?

 

dx

[HadEnough]

I've tried but it won't convert the jpg.. going to try it again.

[HadEnough]

second time lucky??

Full page photo1.pdf

Full page photo.pdf

[citizenB]

Are they figures that the bank has provided ? I see the PPI, etc has been guestimated which is fair enough. I am not sure why there is no 8% on a lot of the figures though ? I think you are going to have to wait for dx or ims21 to look in on you !

[ims21]

Hi

 

This account is still running by the looks of it....is that so?

[HadEnough]

No the account hasn't been running for sometime. The PPI was stopped in 2005 when I tried to claim on it without success and the account was closed 2008.

Edited August 23, 2012 by HadEnough
missed a bit

[ims21]

OK so up to the point of closure you should get 8% interest on any month where there reconstructed balance shows the account as being in credit.

 

They should also pay you 8% interest on the difference between the original balance paid off and the revised balance after removing the PPI from it. That interest should run from the date the account was paid off to the date of settlement of the claim.

[HadEnough]

Ok, can you tell me how I work it out with the figures I have please?

[ims21]

Ok so looking at the sheets that CAP1 sent you, this account hasn't actually been paid off by the looks of it. If that is the case then ignore the bit about 8% from the date of pay off.

 

As they have sent you a detailed reconstruction you just need to go through and check their figures.

 

Each month has the data for the PPI premium and the contractual interest being refunded. It also shows the adjusted balance without the PPI and the amount of interest at 8% they are giving.

 

You just need to go through and check each line to make sure that the contractual interest is right for each month (that is the rate they charged on the card) and that the 8% for any month when the account was in credit is correct.

[HadEnough]

The CI is wrong, it should be alot more. worked it out using CI ss but can't work out how to do 8%. Going down court route so can I claim 8% on each ppi charge?

[ims21]

Oh

 

I thought you had sent them a fos questionnaire which would indicate that you were going for a regulatory award and that is how they have based their workings in your PDF.

 

So are you now dumping that and going to court?

[HadEnough]

yes because I know they owe me much more and won't budge on their offer

[ims21]

So if you wish to go to court with this then the calculations can be the same as with a charges claim i.e. either their contractual rate right up to date of settlement or a higher rate of restitution.

 

What they appear to have offered is a regulatory based award (subject to their calculations being correct and at first glance they look to have been done correctly).

 

So you will need to start from scratch with a new spreadsheet entering all of the premiums you have evidence of.

 

Then the procedural bits of sending a preliminary letter followed by an lba and then issue.

 

There are a few threads on the site about wins in court.

 

Be aware that it will of course take some time to get this into court so it won't be a quick resolution and I would say that they will almost certainly defend.

 

Here's the spreadsheet to use.

 

CISheet v101.xls

[HadEnough]

Thats great thanks for your help, I am going through court as FOS advised thgat it would take up to a year anyway. When I claimed bank charges back sometime ago i used the banks unaurthorised borrowing rate, could I do that here or am I being greedy? I feel I deserve compensating as they have messed me about for a year and that was only for SAR. Do I need to send an LBA as they have already stated they will not deal with again on this matter? Also do I need to work out the 8% or do you courts decide and award what they want?

Really appreciate your guidance with this matter.

[ims21]

As regards interest you can use either their rate that they charged you for purchases or a higher rate. Have a read of No.4 in my signature (you may already be aware of the material following your charges reclaim).

 

If you have been in correspondence but not sent an lba then I would still do so in order that you comply with pre-action protocols.

 

Fos of course will not award what a court can award if you are successful. Fos will only award what the lender appears to have offered. Fos operate a redress system which is laid down by the regulators and it is this system which lenders are required to adhere to. The only way to get a higher award is, as you now know, is via court but that is only to do with the amount of interest which can be achieved of you are successful in your claim.

 

In respect of the 8%, you would not include that in the main claim figure. You would be claiming contractual/restitution interest right up to the date of the claim plus 8% from then to the date of judgement.

[HadEnough]

My last letter was an LBA before I referred it to FOS. I will re read your thread as its been a while and i could with refreshing my mind. Is there anywhere I can get guidance on filling out the POC's?

looking forward to getting this sorted..

[ims21]

I think Shelley's thread in the Barclaycard successes forum has POCs in it

[HadEnough]

I have sent an LBA but it was failure to comply with a SAR, am I best sending another with the figure I am claiming?

[Fur]

After fobbing me off for 1 year Cap one have capitulated and admitted that they owe me it

and they are paying pretty much to the penny that the various spreadsheets on here calculated.

 

Their letter crossed in post with mine saying I had enough and want sar and my costs though

 

but they have admitted in open correspondence they were wrong and that I could never have claimed on it under the terms of policy,

 

and also my umpteen letters were ignored.

 

The power of sar - made them look at it all again I suppose.

 

Getting back only about £500 but only had card for 2 1/2 years.

Paid full 8% from closure of account to date.

[HadEnough]

After much procrastination

 

I have finally worked out the total charges plus contractual interest at the purchase rate they charged me.

 

The charges came £874.11 with contracyual compound interest of £3,372.68, this totals £4246.79.

 

I have one question before I proceed if anyone can advise please?

 

They have worked out that 8% is £636.10 up to April 2012.

 

I am claiming this on top but I am going to ask that the recalculate this up to the date they pay me.

 

i am also going to include in my letter evidence that I am self employed

and explain that I did try to claim when off sick and was refused which is why the ppi was cancelled in 2005.

 

My reasoning for this is due to their letter stating they still do not agree that the ppi was mis sold.

Any advice please?

[citizenB]

Hadenough, I will send out an S.O.S for you

[dx100uk]

just take their figure before 8%

 

and pop it in this spready from their settlement date

 

that will give you the updated stat int claim.

 

This first spreadsheet is the latest version of the statutory interest calculator and is used for Single Premium PPI cases. It can also be used where rollover PPI is involved, i.e. a new loan re-financing a previous one and where PPI is included in one or more loans. It can also be used for S69 redress calculation on any sum, like on a closed/frozen interest PENALTY charges claim.

 

StatIntSheet v101.xls

 

 

dx

[HadEnough]

Thanks to you both for a quick reply, as they have given me the run around and made a lower offer already can I send an Lba straight away with my figures giving them two weeks to reply?

[citizenB]

Thanks to you both for a quick reply, as they have given me the run around and made a lower offer already can I send an Lba straight away with my figures giving them two weeks to reply?

 

 

Yes

 

But do send the LBA by recorded/Special delivery post

[HadEnough]

Yes

 

But do send the LBA by recorded/Special delivery post

 

I certainly will. Thanks citizenB