Capital One fast track default charges and PPI claimback (no SAR req'd)

[Jasper1965]

'Phoned Capital One today, completely out the blue as I last spoke with them in 2006 and my account was sold to Cabot in May 2007. Cabot have been trying to tell me a payment was made by me in June 2006 so a/c not stat barred (yeah right) and we've been getting nowhere arguing about this payment so I thought I'd get in touch with the OC themselves to see if they had any record of it.

 

Well I used the say no to 0870 site and they gave me the following number 0115 843 3792 for Capone, not one I've seen before and the odd thing is that this number has an option (4 I think from memory) to complain about default charges. In a way I was as I know the a/c balance at sale was probably all default charges so I pressed the option and what happened next took me by surprise.

 

I spoke to a nice telephone operator who asked me a couple of security questions after I quoted the ac number before pulling up full details of this old account.

"Would you like to reclaim your default charges" he asked

I told him that I would and should I SAR cap one to which he replied "there's no need if you hang on a minute I'll bring them up on the system and see what the "refund calculator" says".

A minute later and he came back to me with a figure of £xxx charges and £xx in interest. I asked him what type of interest was used and at what rate but he couldn't tell me exactly as it was all in the "calculator".

He did say that there were a number of earlier charges applied to the account but I couldn't claim these as they were SB'ed and Capone only pay back up to six years.

Still the amount he was quoting wholly extinguished the debt claimed by cabot with a few hundred quid to spare so I'm claiming it.

Cabot will have to extinguish the account and all records as there never was a debt, I might pursue for damages, not sure yet.

 

To claim the charges I was told to write to the following address:

 

 

exec response centre

capital one

trent house

station st

notts

ng2 3hx

 

enclosing a brief letter requesting a refund of default charges and interest.

They will respond by offering you a lower amount ie NOT the £12 charges to which you respond with a request for a full breakdown in order that you might ascertain yourself whether the £12 is a fair charge at which point they make a goodwill offer of full payment. I'll probably focus them with a "not statute barred" claim to the earlier charges at that point. The chap could even tell me this afternoon exactly how much the first offer will be for as that's in the calculator too.

 

So there we have it. Not for everybody but it certainly suits me in my circumstances as the debt is wiped, the default will have to go, I get a few quid to play with and Cabot are going to have to be extraordinarily nice and generous in their goodwill payment or making a County Court appearance or two and paying a few of the regulatory authorities investigative fees. They did of course have the opportunity not to libel me back in 2007 when I first proved to them that I didn't owe Cap One anything.

 

FWIW the phantom payment WAS me, it was a substantial payment to the full amount of the outstanding balance on the account by debit card and was a final payment but because the funds took several days to clear to capone (yeah right again) I subsequently incurred a late payment fee that month which snowballed as late payment and non payment and interest was applied.

(Let that be a salutory lesson to anyone who states SB'ed without 100% checking the facts first!!)

 

So no SAR just one phone call and Capone are prepared to tell me exactly how much they owe me on an account they sold as delinquent nearly FIVE years ago, could be useful for some on here.

Edited January 26, 2012 by Jasper1965

[citizenB]

Extremely interesting.. thanks for sharing.

[Jasper1965]

(Meant to say I didn't have any PPI as self employed but they can do the calcs for that too by all accounts)

[citizenB]

Jasper, would you please keep us updated on this .. thanks

[Jasper1965]

of course I will citizenB, obviously I'm a long way from getting the cheque yet but I'm still a little surprised by how Capone appear to have rolled over on the default charge issue. These boards contain some horrid stories of people being refused SAR's etc because the signatures don't match and countless examples of people being taken to court, knowing there are fees, ppi etc. to set off but not being able to establish in time how much can be reclaimed.

 

I'd say to anyone who receives a claim from a DCa where Capone is the OC to contact Capone on the above number if they think there might be reclaimable default charges and /or ppi as they will instantly get a starting figure from them without the wait for a dsar or cpr request to be returned which should at least help them organise a defence sooner and more accurately.

 

I have of course enlightened Cabot that the only fruit their investment is now likely to bear is a big fat lemon.

[dx100uk]

dunno

see if they'll do the ppi on the phone too!

 

you haven't got to accept the offer!

 

dx

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?336049-I-hate-paying-fines-Statute-Barred-DN-question

 

I hate paying fines has his own thread now.. linked above.

 

IHPF, I have sent you a private message advising and providing the link

[topcat72]

i was just about to issue my SAR to CapOne this week, but this looks like it might be worth a try first.

 

will post here once ive rung them, and then start my own thread for any further updates.

Edited January 30, 2012 by topcat72

[topcat72]

had a similar experience, rang them, very pleasant to speak to (which always helps).

 

they didnt give me the amount over the phone, but said they would put it all togethor and send a letter to me with all the details. and at this point im going to create a new thread.

 

link in sig.

[executed_inapt]

I can confirm this,choose option 4,then talk to a very friendly person! what a change,they calculate,then give you the figure,then sending a setttlement out to me,it clears the balance and gives me extra,this is the best way to go i would say,although they did refuse my charges last year when i complained via letter,so this is my final settlement,im happy enough though,they did refund my ppi last year,so when ive recieved the settlement and agreed,my balance is clear,and money extra to pay off other things

 

thanks for sharing this information id advise this way even if just to see what they say

[ajs444]

Wouldn't trust them as far as I could throw them.

[executed_inapt]

Neither do i to be fair,but the woman was nice,she gave the figure not me,when it arrives ill keep this updated,and when i get my money,ill keep it updated. I recorded the call anyway,thanks to my nifty android app.

[dx100uk]

yes please post up the settlement figure so we can work out what they returning and the interest.

 

dx

[executed_inapt]

they offered 595 since i opened the account in 2006.i cant run you down exactly but all were default charges expect one cheque charge of 32..hopefully till be explained in the letter,then ill report bk with figures etc

[Jasper1965]

Well done e_i and thanks for the feedback.

 

I chased Capone up and they say the turnaround time is about 14 days from receipt of first letter to first response due to the volume of enquiries they're getting over PPI.

[ajs444]

When I first started to claim back default charges they initially offered £45.00., obviously I declined this and through various correspondence they offered £975.00., they never said what interest they were refunding but I believe it to be 6% to 8%.

 

Now considering they are charging me 37.7% they are having a laugh, I have issued a LBA to move to Small claims Court in the next 4 weeks, claiming statutory interest at 24.4% brings the claim to just under £3000.00, will pay off card and give me money in hand.

 

I have a 2 threads under Capital One section, and by the way still waiting on them telling me how my interest rates went from 7.7% up to 37.7%

 

Beware the Ides of March, don't trust them.

[dx100uk]

you should be claiming compounded int at 24.4% not stat int

 

use the CI spreadsheet

you are shortchanging yourself if you use the SI spreadsheet

 

dx

[ajs444]

Thought I had this sussed out, where is spreadsheet for CI ?

 

This is the one I used interest at 31.9% - http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls

Edited February 6, 2012 by ajs444

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

dx

[I hate paying fines]

I can confirm this,choose option 4,then talk to a very friendly person! what a change,they calculate,then give you the figure,then sending a setttlement out to me,it clears the balance and gives me extra,this is the best way to go i would say,although they did refuse my charges last year when i complained via letter,so this is my final settlement,im happy enough though,they did refund my ppi last year,so when ive recieved the settlement and agreed,my balance is clear,and money extra to pay off other things.

,

 

 

thanks for sharing this information id advise this way even if just to see what they say

,I tried the same way, they refused my claim saying that I ticked the box on the online application form, so to say I wanted it, regardless of my pre health condition, Is any one in the same situation?

[dx100uk]

its not unknown for the box to have already bn ticked

 

dont give up

 

put a proper claim in

ee link 3 below

 

dx

[executed_inapt]

They refused my claim last year also,on the basis they said the charges were lawful,the lady on the phone did mention this,i basically turned around and said we can do it this way or the legal route and i will win..seemed to turn favour. i wouldnt give up just because your told no the first time,helps to tell them your intentions maybe?

[executed_inapt]

Hi, got my settlement letter today,

for default charges they will be refunding £528

for interest they will be refunding 67.88

theres no breakdown,im not really inclined to go any further even if its wrong,they are clearing my balance and leaving me money left over,

 

i have to send it back and the dca will be informed,credit file satisfied. and the money sent to me within 21 working days.

 

looks like they held there end of the bargain to a degree,im happy enough.

 

also won barclaycard but thats another story with a few questions for another thread!

 

good luck this might be the way to go?