Claiming charges back from studio

[hamilton669]

I've had a studio account for sometime and a few years ago i allowed my partner to order a PS3 at roughly £350 on agreement he makes the payments after sometime and getting sick of him missing them (he paid but they would be late) i took over and he pays me the money back.

 

Now as well known the interest rate with studio is reeeediculous but i knew that, over the years i have ordered items and paid them off but from when my partner was in charge of the payments there was quite a few missed payment charges.

 

Can i claim these back?

Do i add interest?

Do i claim back the interest that studio would of added to the charges?

 

because its getting a bit confusing:???:

 

So for example a charge made of £20 on 07/09/2008 would that be (at a monthly interest rate of 3.9%)

 

£20+78p int. for first 28 days = £20.78

£20.78+81p int for next 28 days = £21.59 and so on up untill now?

 

would it be like that for each charge

 

because that would work out at a £20 charge on 7/9/08 plus monthly interest for 3yrs would be £79.27

 

for just 1 charge and i think theres quite a few up until last year.

 

As it stands with him only making minimum payments he still owes £300 and i just want rid of them as soon as possible

 

I am going to send a SAR asap.

[ims21]

Hi

 

All of those late payment and/or over limit fes can be claimed back with interest.

 

I've attached a spreadsheet you can use to calculate your claim when you have access to all of the statements/transaction history.

 

Change the APR in the sheet to the rate they were charging you on the account. Amend your personal details in the blue section.

 

Then go to the white list area underneath the coloured bits. This is where you list the date, the description and the amount of each charge. The rest of the calcs are done for you.

 

Please note that the spreadsheet is protected in certain areas to prevent changes to formulae. If you get a potection message it means that you are trying to edit/change information in a protected cell.

 

Regards

 

ims

 

CISheet.xls

[MARTIN3030]

There have been lots of Studio cases on the site over the years.

We have seen examples where customers asked for refunds only to be offered vouchers or credit notes.

You need to make it clear that you do not wish to be refunded in this way.

Many of those who have requested refunds have done so by calculating the total fees and charges paid,and adding 8% which is stat 69 interest.

[hamilton669]

Ok thats great thanks for the help, ill get that SAR sent off today hopefully.