Ro v CAPITAL ONE

[ro284]

I have sorted the statements, i have found a few more, (plus some more for other accounts,) for this first account, (which is not a vast amount) but there is a point to be made,! i need to learn the process, i have around 60% of the statements, but bedtime now,Thankyou ims,Regards Ro

[ims21]

Hi ro

 

Ok, which would you like to deal with first, PPI or charges reclaim. The process is different for each but we can deal with both of them at the same time if you wish.

 

I have a day off on Tuesday so will be around most of the day.

 

Regards

 

ims

[ro284]

Thankyou ims, i would like to do PPI if that is convenient for you. i have learned a lot already, even achieving creating pdf files,!(in word) which is quite something for me! as i have trouble with stress related lack of concentration, i am waiting for appointment, hope to see doc today, so will be in and out, i dont want to intrude in your time off. if you do have time to give me a few pointers to be getting on with later, that would be enough help for now,hope you can have a break, regards Ro

[ims21]

Hi ro

 

No problem.....we can take it nice and easy for you.

 

So PPI it is then.

 

First thing is to pop along to the fos website here...

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

and download their consumer questionnaire ready for completion. While you are there you could have a read of some of the case study PDFs.

 

Next thing is to complete a Schedule of Claim (spreadsheet) which will calculate your claim for you. You will be claiming back the premiums paid plus compound interest at the rate they were charging you on your card. That rate should be shown on your statements as the purchase rate.

 

I have attached a spreadsheet for this purpose. Amend your personal details in the blue section and change the APR to the rate you were being charged. Then move to the white list section underneath the coloured bits and go through your statements and list each ppi payment giving the date of the payment, a description (i.e. "PPI Premium") and the amount. The sheet will do the rest for you. Please note that the sheet is protected in certain areas to prevent alteration to the formulae. If you get a protection message it means you are trying to change or enter data in a protected cell.

 

Leave the "Claim To" date as the date that appears in that cell. The spreadsheet automatically updates each day you open it.

 

Now some of your statements are missing so what you can do is work out the average PPI payment you made per month over the life of the statements you actually have. You use that average figure as the monhtly payment that would have appeared on the missing statements.

 

When you have completed the questionnaire and the spreadsheet, you send a copy of each to Cap1 with a letter of reclaim which will outline the reasons why you believe you were mis-sold PPI.

 

They will have 12 weeks to investigate and give you a final decision before you can pass it to fos to deal with.

 

If you have questions, just ask.

 

Regards

 

ims

 

CISheet.xls

[ro284]

Many thanks for your time ims. just at the moment i can't get my head round the cisheet.xls is there a view of a completed one by any chance, sorry i will get the hang of it! i would like to know how to go after charges also, i notice on my statement various sums called 'finance charges', 'special interest charges'. late payment fee' and 'over limit fee' are all these reclaimable? i hope to have some help this end shortly. i should hear from Barclaycard next (4 days to go) which is one of the really big ones for me, hence trying to get into this supposedly rather more simple one first. regards Ro

[ims21]

Many thanks for your time ims. just at the moment i can't get my head round the cisheet.xls is there a view of a completed one by any chance, sorry i will get the hang of it!

 

What is it you don't understand? I'll take you through it step by step if you let me know

 

i would like to know how to go after charges also, i notice on my statement various sums called 'finance charges', 'special interest charges'. late payment fee' and 'over limit fee' are all these reclaimable?

 

Its the late payment fees and the over limit fees you go after. When you use the spreadsheet for these it will calculate the interest you're going to claim to off set their interest and give you compensation too.

 

i hope to have some help this end shortly. i should hear from Barclaycard next (4 days to go) which is one of the really big ones for me, hence trying to get into this supposedly rather more simple one first. regards Ro

 

ims

[ro284]

Thankyou again ims, i have now seen a copy of a filled in cisheet.i am a bit more with it today, as for this cap one claim, what was causing me confusion, is that the loan was for a short period only which we then paid off, the interest is referred to as 'special purchase interest' @ 0.562% average £5 per month. (as this was short term loan) So it is the PPI payments that i will claim for (all in 02 which i gather means restitution) this being so at what interest rate should i put? i have seen 24.9% regarding restitution claims,? few questions can i claim for special purchase interest anyway? if so can i put ppi and special purchase interest. plus overlimit payment, on the same cis-sheet, or is seperate easier, if i witheld pers info. could i post up completed cisheet to check, once i have done this small one, the rest will be far easier to cope with. This one being a practice run, both i and wife are owed a fortune, Regards Ro

[ims21]

Thankyou again ims, i have now seen a copy of a filled in cisheet.i am a bit more with it today, as for this cap one claim, what was causing me confusion, is that the loan was for a short period only which we then paid off, the interest is referred to as 'special purchase interest' @ 0.562% average £5 per month. (as this was short term loan) So it is the PPI payments that i will claim for (all in 02 which i gather means restitution) this being so at what interest rate should i put? i have seen 24.9% regarding restitution claims,? few questions can i claim for special purchase interest anyway? if so can i put ppi and special purchase interest. plus overlimit payment, on the same cis-sheet, or is seperate easier, if i witheld pers info. could i post up completed cisheet to check, once i have done this small one, the rest will be far easier to cope with. This one being a practice run, both i and wife are owed a fortune, Regards Ro

 

Hi ro

 

Cap1 typically issue credit cards rather than loans. I guess that you took a cash advance on your credit card rather than a formal loan agreement?

 

Cap1 will not pay interest in restitution at the higher rate of 24.9 or even 29.9 unless you take them to court. They may refund you their contractual rate without too much fuss so what I would do in the first instance is put in the claim at their contractual rate which is the 0.562% per month. This equates to an APR of 7%.

 

So in the first approach I would put the APR at 7% in the spreadsheet unless you are prepared to issue and go to court for interest in restitution in which case you oput 24.9 in the APR box.

 

Then just list the PPI payments as they appear on the statements with the date, description and amount. DO NOT enter any interest payments as the sheet will work out what interest you are going to get back.

 

Do not enter any other charges in teh sheet either, this is a PPI claim, a reclaim of charges will be a different claim.

 

When you feel that you have put the sheet together, if you remove personal information you can post it up here and I will have a look at it for you.

 

Regards

 

ims

[ro284]

Thankyou ims, i am ok now with the sheet, and will post up what i have done on my first cis sheet, later as i have 2 statements missing, i will take your advice re interest. however i have found more accounts for later years, in my wifes name, and using the csi, sheet i am beginning to realise why our businesses did not do as well as expected. would it be too confusing to send cis sheets for different account numbers all in one go. or best done seperately? i do feel angry enough to want to take them to court, i guess if enough customers did so, thay would have to settle for higher amounts of interest. because of negative publicity, i accept that our accounts are our responsibilty, but there appears to be a point to be made about the way people have been ripped off by these intitutions! regards ro

[ims21]

Hi ro

 

Personally I would send in distinct claims for each account. That way it keeps it nice and simple and easily managed from both your and their points of view. Treat them all as individual claims.

 

Regards

 

ims

[ro284]

thankyou ims, would you also suggest sending charges seperately from PPI also? or could they go on another csi.sheet in the same envelope?Please check my PPI claim, part done, a bit to add, just wanyt to check all ok so far,Regards Ro

Doc1.pdf

[ims21]

thankyou ims, would you also suggest sending charges seperately from PPI also? or could they go on another csi.sheet in the same envelope?Please check my PPI claim, part done, a bit to add, just wanyt to check all ok so far,Regards Ro

 

Hi ro

 

Looks fine to me

 

Regards

 

ims

[ro284]

Thankyou ims

 

i will send off the FOS form, with my cis sheet for PPI claim,

and a separate one for charges plus interest.

 

Could you tell me at what APR should I put on the sheet for charges please?

 

My reasons for my claim for the mis-selling of PPI, are that I was S/E,

I had my own insurance cover in place,

but it was made clear that I would need to sign for PPI

or I would not receive the loan/account,

 

however although I ticked the box requesting PPI.

It was also not made clear that I could go elsewhere to obtain PPI cover,

I would not have received any benefit from PPI as I already had existing medical problems. Which I was not asked about.

 

How can they apply or accept a PPI in the absence any medical?

 

The reply I received to my SAR.

Was a copy of the agreement,

Not the actual agreement, (which I imagine would be impossible to get ?)

is there a template letter?

 

Which I imagine would be called a pre-lim letter,?

 

The reason I ask is that I am angry about the knock on effect of all the PPI payments I have made to many accounts which have contributed to many of my present problems.

 

And would like to point this out to capital one,

and many other 'once respected' institutions in the following weeks.

 

Thank you again, any advice much appreciated.

 

Regards Ro

Edited September 26, 2011 by ro284

[ims21]

Hi ro

 

for the ppi claim I personally luike the template letters here...

 

http://www.thisismoney.co.uk/money/bills/article-1606652/LETTER-TEMPLATE-Mis-sold-PPI.html

 

For the charges claimthere are templates in teh CAG library, the link to which is at the top of every CAG page in green.

 

As regards interest, the ppi one should start by putting in the APR that they were charging you on the card. Similar with the charges one but when they refule to pay (which they probably will) and you want to take them to court, you can show a higher rate as interest in restitution.

 

ims

[ro284]

thankyou again ims, i feel as though i have learned so much this week, with your help and guidence, and feel the better for it. i feel able to go after other crediditors now, using a similar method. will keep you updated. Regards Ro

[ims21]

[ro284]

Hello ims, in hope you are well,

 

i'm afraid i am back! in the hope of continuing this rather small claim,

apparently i am deemed to be as good as i'll get!

i would like your help if you are able?

i need to re-learn a few things,

i would mention the details of my claim above,

this is a very small claim, but the way i would like to learn is by doing this one first,

 

i also have others with Cap one,for much larger amounts!

 

i have some questions if i may,

 

has the interest amount changed from what i have above in doc1 pdf,

 

i lost a lot of info because pc crashed in the months past, but i have all the statements for this particular account now,

 

i think i read somewhere that it may not be neccesary, to send a SAR in future to other banks re PPI, or is this wishfull thinking on my part?

Thankyou for the Templates,

 

Template one is for me as was S/E.

should i send late payment fees and interest payments seperately on a seperate cis sheet, from the PPI claim,

 

once i get this one done i am sure i will be able to move on with the others by re-ferring back to this thread! Regards Ro

[ims21]

Hi ro

 

Good to hear from you again

 

Bit busy tonight but I can help you out tomorrow of thats OK?

 

Regards

 

ims

[dx100uk]

i think you'll do better to re-do the spreadsheet SOC's

from here:

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

use the third one that CI one.

 

that intererst rate is mighty low for a credit card

use the lastest int rate from your last statement.

 

as for the PPICCL letters that you 'might' get

from the original creditors following the recent news

i'd not wait, fire off your own sar's/claim as and when yuo are ready.

 

the PENALTY charges SOC and the PPI SOC are two separate claims.

though you use the same SOC [spreadsheet & the same int rate]

 

the PPI claim needs the FOS CQ & a covering letter & SOC

 

the charges reclaim needs just the SOC & covering letter.

 

not sure what you mean by interest payments [you cannot reclaim those].

 

dx

[ro284]

Thankyou for reply ims, and Dx for your advice, i clearly need to study more,

 

i don't know what soc means! so embarrasing.

 

the only interest figures i can find on the date when i cancelled this loan are,

= special purchase interest of varying between £3.45--£5.93

there is another interest called Special rate=0.562% it was a credit card,

 

i have found the template letter, as for a covering letter,

can i start with this?

 

To Bank!

Dear Sir,

 

Firstly I would say that I am disgusted that your once honourable institution, took the decision to make profits from customers,

by way of imposing an invalid agreement for PPI, to the Self Employed!

 

Which appears to not be means tested,

In the way the original applied for loan supposedly is.

 

It has been discovered that This PPI is mis-sold, as PPI would not be paid out to Self Employed!

 

While it would appear to be your requirement to ensure customers are able to meet re-payments of only the loan agreement,

It may be obvious that to impose extra costs for what in effect would be useless for any S/E customer,

 

and would obviously prove to be disastrous to any small business,

Therefore this would appear to be a trap, to ensure that the result will inevitably be a shortfall in available income to the customer,

thereby allowing extra charges to be made on the inevitable, late payments charges, interest payments. etc.etc. In my own situation, because of the dishonest way the banks have behaved,

 

I now find myself punished by a poor credit rating that I will have for the rest of my life!

 

Along with many other hard working honest people who put their trust in the banks. This has caused me and my family great Hardship.

 

Surely this can not be seen as treating customers fairly as required by BCOB!any advice welcome, thankyou Ro

Edited March 12, 2012 by ro284

[dx100uk]

ro about time you learned to add line breaks and blankline to make your posts readable.

use the edit button on the gray taskbar of post 70

dx

[ro284]

Thankyou, You may recall i told you i was having problems, with adding spaces a long time ago. nothing has changed! i have never had any problems any where else on any other forum, but i apoligise for this, When i edit any message with spaces, it just reverts back to a block, this should have 3 line spaces, Regards Ro

[ro284]

Again no spaces! i have no idea why!However if you like to comment on contents of my post, please feel free,-------- it has taken me a lot to get back on here, and i'm in trouble with something i cannot do anything about yet again!

[ims21]

Hi Ro

 

Just reviewing to see where we are at with this....be right back

 

ims

[ims21]

Hi

 

OK##dx has given you some pointers...SOC is Schedule of Claim ( the spreadsheet)

 

So we have a charges claim and a PPI claim to put to bed?

 

So charges first....use this spreadsheet (they have been updated since we last looked at this)

 

CISheet v101.xls

 

The interest rate should be the annual rate being charged on the account for purchases.

 

Just list the charges (late payment, over limit) giving the date, description and the amount. The sheet will do the rest. Then, as I think dx said, use the preliminary letter in the CAG library (top left in green) and attach a copy of your spreadsheet.

 

Bear in mind that Cap1 will probably refuse a refund so you need to start considering whether you are prepared to go to court over the charges.

 

With regard to the PPI there is again an updated spreadsheet.....which route do you intend to go for the PPI....court (where the onus will be on you to prove mis-selling) or to accept a fos/regulatory based award?

 

ims