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CoffeeAngel -v- CapOne PPI Reclaim


coffeeangel
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Yes. Not alot I know ims and some may laugh at me and think why is Coffee haggling over such a small amount, but it's still money they weren't entitled to have. I know I won't actually physically see this money since it seems they are allowed to offset it against any balance owing on the credit card, but it still goes towards reducing the outstanding amount.

 

Coffee

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Ok no probs.

 

Well you have a decision to make really.

 

1. Accept what they are offering and be done with it.

 

2. Continue to fight for a fos based award on a matter of principle.

 

3. Continue to fight but sue them for interest in restitution as oer your compound interest spreadie.

 

Option 3 will involve you in a lot of work to prepare a case and there is of course no guarantee of winning. If you lose then you cannot then accept the amount that is on the table now.

 

It's your call as to which way you want to go.

 

ims

 

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Thanks ims. I'm inclined right now to put option 2 on the table and see how that goes first as they are chancing their arm that I won't quibble about the difference and that is not the point.

 

Before I do though, can I ask for clarification on question of tax I would have to pay? Is it 8% on all the refund or just the element of interest, both compound and SI or just SI?

 

Coffee

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Hi

 

You would pay tax at your prevailing rate on the SI only.

 

At the time of writing Cap1 don't make any deduction at source so you would have to declare it on your tax returns

 

ims

 

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  • 1 month later...

Had a result with the charges element of this card now just waiting to hear the final decision on PPI. BCOBS and CAG are a wonderful thing! Knowledge is power so let's see if my sword/pen is mightier than theirs!

 

Will update as soon as I hear back.

 

Best,

 

Coffee

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