Cap One PPI - What to do next?

[dx100uk]

last sheet fos ci

 

dx

[G&J]

Ok downloading FosRunningPPI (las sheet)

 

I will ge the figures put in and see how it pans out.

 

Thanks dx

[dx100uk]

no last sheet {SOC} is this one:

 

 

FosCISheet v101.xls

 

dx

[G&J]

Hi

Just a quicky

 

Received my SAR and just entering all the figures accordingly....

Got a letter today from CapQuest & Cap 1 stating Cap 1 have sold my debt to CapQuest Investments Ltd.

They have informed me that I should now pay to a new account No (Capquest)

 

Ok, so will this affect my PPI claim in any way?

And I later intend to go for the charges.

 

Hopefully this is not anything to warry about (fingers crossed)

 

Thanks for any advice.

[dx100uk]

yes it will

 

means all the refunds MUST goto you

 

they've sold it

 

dx

[G&J]

dx

Hangon a mo..... slightly trembling here

 

Do you mean that they can't off-set against remainder of credit card balance?

 

WOW

[dx100uk]

once a debt is sold

 

cap1 relinquish all their rights

 

so they cannot offset to anyone bar YOU.

 

dx

[dx100uk]

i'd get your charges reclaim in too

 

cap1 are coughing quite nicely, even outside 6yrs

 

dx

[G&J]

Many thanks dx

[G&J]

Sounds good... I will be busy the coming week and get them sent off. PPI still to Cap 1.. Yes?

[dx100uk]

always the oc yes

 

dx

[G&J]

HI

Finally getting round to entering all the numbers in FOSCIsheet v101

 

We are struggling as to what to put in the "Interest Rate (APR)" field. We think we have it worked out at 0.882% as they appear to have been charging me 113.38p per £100 borowed.

 

Could anyone enlighten me?

 

Thanks

Edited January 20, 2013 by G&J

[Old Cogger]

What ever rate % they charge APR i.e. 27.9 or what ever you use that rate, well we have for years. then if to court then also add 8% at the time. sure others will comment.

[G&J]

What ever rate % they charge APR i.e. 27.9 or what ever you use that rate, well we have for years. then if to court then also add 8% at the time. sure others will comment.

 

Sorry, but do you mean, what ever Cap 1 was charging me for money borrowed, ie: 25.2% (stated on an early doc) I am to put that figure into the APR field? I don't see the connection!

Edited January 20, 2013 by G&J

[Old Cogger]

yes

[G&J]

Thanks Mike

That helps..... How can I determin what their APR was throughout 9 yrs to average?

 

Just found in the T&C that 30.3% APR Variable

 

Is the whole idea we charge them the 'SAME' interest 'THEY' charges us for lending monies? I keep seeing this Statutory 8% banded about

 

See if this sounds rite:

 

Over 9 years charging me PPI the total I seem to have paid to them is: £832.83

 

With 30% in the APR field, it comes to almost £2,549 (can't be right)

 

HELP???

Edited January 20, 2013 by G&J

[dx100uk]

yep that'll be about it

 

CC's are compounded int

 

look at it this way

 

every month they charged you int on the balance

that bal comtained monthly levied PPI.

 

the 8% only plays its part on closed accounts or loans

where the int was a set £ figure front loaded.

 

dx

[G&J]

Ok.. Thanks (again) dx

 

So... Next stage will be?

 

Print out the spreadsheet, include a FOS questionaire and send off recorded: to Cap 1

 

With my reasons:

Never ticked the box for Yes 'OR' No

Never received ANY phone call

Never had the pro's & con's explained

Etc...

 

TBH... Can't wait for the charges reclaim as I'm sure they are equal.

 

Will be posting tomorrow but not on this thread as new issues have arisen (not ppi related)

 

Thanks for all the help...

[dx100uk]

do a brief covering letter..

 

Dear Sir or Madam,

Re:

 

I am writing in relation to the above payment protection (PPI) policy which i believe was mis-sold to me in relation to my

I believe you have not treated me fairly for the following reasons;

· The PPI was added without my knowledge..

· You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter. If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

This letter is in respect of the above account that was issued by

Yours faithfully

 

or

 

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

 

 

just drop the bit about 8% stat int

 

is the card still running?

 

dx

[G&J]

Hi dx

Card is frozen (arrears) paying £5 per month.

They recently sold my debt to a sub company of theirs (Cap Quest)

Is it possible I can post a copy of my spreadsheet on here for a quick check? (minus details)

[dx100uk]

cause you can....

 

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all figures and dates. {DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

DO NOT USE ANY PDF EDITOR TO BLANK STUFF, THAT CAN BE REMOVED

DO IT IN PAINT.EXE or any photo editing program

convert existing PC files to PDF [office has an installable print to PDF option]

..

goto one of the many free online pdf converter websites [http://docupub.com/pdfconvert/]

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

i'e Default notice dd-mm-yyyy

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

as its already an .xls you can just removed the details in the top boxes [bar APR%]

 

and just attach it...ignore the first bits

dx

[G&J]

WOW... not just me up at silly O' Clock

 

Ok, so best to scan much of the SAR docs?

 

I'll do the agreement and the statement details. I have read through all 'their computer notes' and no mention aof any phone calls relating to PPI. So I'm asssuming they would have charged from day one.

 

Will get to work on it later today (many pages)

 

Thanks again

[dx100uk]

what a shame they've sold it

 

means you'll get ALL the reclaim to your pocket now!!

 

dx

[G&J]

Hi dx

Sorry for the delay but Ive had computer problems (RAM down and a pain to scan) The Mrs did the pdf for me at work problem is some are up-side-down lol.

[G&J]

Just a thought.... I included in the spreadsheet only the PPI charges as made. So, would the interest that I am claiming from them include the couple of years 'after' ie: up until today?