Got SAR today !

[helpneeded123]

Dear All,

 

Got my SAR today, now I am going to try claim back my late payment and over limit fees.

 

Can I also be cheeky and demand a refund on the monthly interest?

 

Is there a template for this? After receiving the SAR I just want to confirm the next step is to demand the refund under hardship ?

 

Thanks All

[helpneeded123]

Can I also claim my CASH ADVANCED FEE?

 

Thanks All!

 

Im so excited dont know why lol

[filrobbo]

What's it for

[helpneeded123]

I have late payment fees, and over limit fees totalling £1,990 in three years, I am going to try and claim back my late payment and overlimit fees via hardship

 

see my previous thread, and I am not currently working and I have these charges to pay

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?386161-Do-I-have-the-grounds-to-claim-back-charges-under-quot-hardship-quot

 

Also I just want to know can I claim back in the interest, and cash advanced fee?

[ims21]

So this SAR is on your capital one credit card yes?

 

You will need this spreadsheet. Complete it in accordance with the instructions on the notes tab.

 

CISheet v101.xls

 

When you have done that come back here and let us know what the total is that the spreadsheet gives you.

[helpneeded123]

Hello,

 

The total is

 

Total of Charges £660.00

 

 

I have not added interest rates on this, do I add the interest rate when I first signed up for my credit card? That is 39.4% APR

 

Thanks.

[citizenB]

Yes, that is the interest rate you need to enter.. wow.. that was very high indeed.

[helpneeded123]

CLAIM CALCULATION

 

Total of Charges £660.00

Compound Interest £574.22

Total £1,234.2

34.90% APR

 

This is calculated

 

I could potentially claim the above back? WOW...whats next?

[helpneeded123]

Yes, that is the interest rate you need to enter.. wow.. that was very high indeed.

 

You can see the excel which I just filled out here

 

http://www.consumeractiongroup.co.uk/forum/attachment.php?attachmentid=43553&stc=1&d=1367426469

 

Sorry for multiple posts guys, I have just edited the attached to make it more clear. I am just so scared and confused.

 

Thanks for all your help I really do appreciate it.

Edited May 1, 2013 by helpneeded123

[helpneeded123]

Update: I have just edited and reuploaded that EXCEL form..

 

Thanks

[citizenB]

Yes, someone will be along soon to check it over for you

[helpneeded123]

Yes, someone will be along soon to check it over for you

 

THANK YOU THANK YOU THANK YOU

 

I am so impressed with this form, how do you guys make money? Can I donate for all the help I am getting?

 

Thank you, honestly I cant thank you guys enough!

 

EDIT: I am banned from PayPal can I make payment some other way?

[citizenB]

All our funding is by way of donations. I think you can also make donations by way of cheque or postal order.. I will find an address for you..

 

You might want to wait until you have your charges cheque in your hand

[helpneeded123]

All our funding is by way of donations. I think you can also make donations by way of cheque or postal order.. I will find an address for you..

 

You might want to wait until you have your charges cheque in your hand

 

I'll make a small donation for all the current help I have had, and another donation when I have a refund. Thanks for all the help. Please provide the address. Thanks.

 

[citizenB]

I have sent it to you via private message.

 

And thank you

[helpneeded123]

Thanks

[ims21]

Ok the next step is just to change your spreadsheet "Claim To" date to today's date.

 

Then you need to send a print of the spreadsheet to the lender together with a preliminary letter requiring refund.

 

You can use this one

 

Account number................... ................ date etc

 

Dear Sir/Madam

 

Following media reports,and an investigation into credit card charges by the Office of Fair Trading,which I have recently been made aware of,I now understand,that the regime of fees which you have been applying/applied to my account in relation to late fees, and over limit charges, are unlawful at Common Law,Statute and Consumer regulations,in that they did not/do not, represent a genuine pre-estimate of your actual costs.

 

I would draw your attention to the terms of the contract which you agreed to at the time that this account was opened. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law,and in consideration of fair business practices and good faith.

 

It is my contention, that you have failed to operate my account in a manner condusive to the above,and have demonstrated a lack of fiduciary duty.

 

I calculate that you have taken £xxx plus £xxxx which you have charged me in interest which total £xxx. Additionally,you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniositiy’ caused directly by the taking by you of penalty charges which you had applied to my account.

 

Therefore this letter requests a refund of all charges indicated including interest 14 days from the date of this letter.

 

I request that payment is made directly to me,by cheque,and that any refund in whole or part should not be allocated to any set off or third parties.

 

Should this occur,my claim will be deemed as unsettled and I will proceed to the Courts for recovery.

 

You now have 14 days to respond positively,and in the absence of this,I will put you on notice with a further 14 days,letter before action.

I trust this clarifies my position.

 

 

Yours Faithfully

 

Enc; Schedule of charges

 

You may need to amend it to suit depending on whether the account is terminated, debt sold on or still live.

 

How does the claim amount compare to the figure outstanding on the account (if any)?

 

Capital One are highly likely to refuse to refund the charges without a fight which means that you may have to issue court proceedings if you want to get the charges back.

 

It would be a good idea to have a good read around the Cap1 forum to see what may lie ahead.

 

Also have a read of Shelleys success thread here (although this was with Barclaycard) but it will give you a good idea of the general process.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**

[helpneeded123]

Ok the next step is just to change your spreadsheet "Claim To" date to today's date.

 

Then you need to send a print of the spreadsheet to the lender together with a preliminary letter requiring refund.

 

You can use this one

 

 

 

You may need to amend it to suit depending on whether the account is terminated, debt sold on or still live.

 

How does the claim amount compare to the figure outstanding on the account (if any)?

 

Capital One are highly likely to refuse to refund the charges without a fight which means that you may have to issue court proceedings if you want to get the charges back.

 

It would be a good idea to have a good read around the Cap1 forum to see what may lie ahead.

 

Also have a read of Shelleys success thread here (although this was with Barclaycard) but it will give you a good idea of the general process.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?309037-Charges-older-than-6-years-***WON***-Compound-Int-t-and-**NO-SET-OFF**

 

hello

 

Thanks for your help.

 

I was under the impression these charges are lawful due to the court hearing back in 2009? and the only way I could claim if I was going to through hard times which I am, and would need to prove this?

 

If am I wrong, I will just use the form you just attached, and I will read through the other thread now...

 

Thanks

[ims21]

You are getting mixed up with bank charges I think which is what the court case refers to.

 

Credit card and loan charges are not affected by that case and are still reclaimable.

[helpneeded123]

You are getting mixed up with bank charges I think which is what the court case refers to.

 

Credit card and loan charges are not affected by that case and are still reclaimable.

 

Seriously?!? Thats news to me, I thought banking would come order credit card companies?!? So by law they cannot charge me this although in my agreement it says they can?!?

[ims21]

You need to do some reading around the forums.

 

It was bank current account charges etc that were tested in court, not accounts where credit agreements were concerned.

 

It matters not what the agreement says, these charges are deemed as penalties for your breach of contract (by being late with payment for example). They do not reflect the true cost to the lender of that breach.

 

I would strongly suggest you do some reading around CAG...there are many many threads on reclaiming credit card charges and there is a lot of reference material as to why they can be claimed back.

 

It would not be wise to go into this without knowing your stuff.

[helpneeded123]

You need to do some reading around the forums.

 

It was bank current account charges etc that were tested in court, not accounts where credit agreements were concerned.

 

It matters not what the agreement says, these charges are deemed as penalties for your breach of contract (by being late with payment for example). They do not reflect the true cost to the lender of that breach.

 

I would strongly suggest you do some reading around CAG...there are many many threads on reclaiming credit card charges and there is a lot of reference material as to why they can be claimed back.

 

It would not be wise to go into this without knowing your stuff.

 

I am going to do alot of reading tonight and post back tomorrow with any questions I have.

 

I feel like I can't do this now, just seems too hard and complicated. I am scared I will have to go court, I cant represent myself because I am not a lawyer and I cant afford an lawyer....Captial one might of won me over :'(

[citizenB]

Don't give up,.. you can make your attempt by way of what you have produced so far. Wait and see what they say. Let us know if it isn't what you want. You could then go via the FOS route, which will take longer if you feel you wouldn't be up to going to court.

[ims21]

Absolutely. Don't be put off.

 

You don't need a lawyer, you can do it all yourself.

 

We will help you all we can as you will see when you read some of the many other threads on this very subject.

 

You are currently feeling a little scared because this is unfamiliar territory to you. As you read and learn you will become stronger as your knowledge base builds and you should end up feeling empowered to take on these institutions who have unlawfully penalised you.

 

Many of us here have been in exactly the same position as you...worried, scared, apprehensive etc. We have used the information and help available on CAG to get us through some tough times and in the process have become far more empowered and confident in taking on these large institutions and winning.

 

You will not be left to deal with this alone....I can assure you that you will receive all the help you need.

 

Don't let these companies walk all over you.....chin up and start your fight back

[helpneeded123]

Absolutely. Don't be put off.

 

You don't need a lawyer, you can do it all yourself.

 

We will help you all we can as you will see when you read some of the many other threads on this very subject.

 

You are currently feeling a little scared because this is unfamiliar territory to you. As you read and learn you will become stronger as your knowledge base builds and you should end up feeling empowered to take on these institutions who have unlawfully penalised you.

 

Many of us here have been in exactly the same position as you...worried, scared, apprehensive etc. We have used the information and help available on CAG to get us through some tough times and in the process have become far more empowered and confident in taking on these large institutions and winning.

 

You will not be left to deal with this alone....I can assure you that you will receive all the help you need.

 

Don't let these companies walk all over you.....chin up and start your fight back

 

Just spent the last 3 hours reading, and just saw this post! I feel so confident that I can battle this! I am popping a recorded delivery letter to Captial One tomorrow and I will attach a copy on this form for people who may peruse Capital One with there charges!

 

Just one thing I do not understand, from my research it shows I can for a "non compound" interest of 8% and not the 39.9% which I have agreed to?

 

Please explain someone, understand everything apart from this. Thanks!

 

Thanks Guys!