Power2contact/ my Cap1 Debt

[jboyd83]

Right, spreadsheet done, not as scary as I thought-very easy great!

 

...I have used the ''standard interest rate' of 39.94% as stated on the 'credit card agreement' small print sheet that they sent me.

 

Ok, as there are so many stickys etc can someone tell me what I do/what I use now.

 

...it has worked out £488.49 altogether just for late payment fees and overlimit fees.

 

PPI I will do separately.

Thanks everyone

[dx100uk]

sri I thought the spreadsheets were already here

 

use the CISHEET for both PPI & penalty charges

[but a sep version!]

 

use their purchase int in cell D 15.

 

the same goes for PPI.

 

as long as the card is still active & they are charging you interest to this day that is!!

 

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

 

dx

[jboyd83]

Ok, the card has been cancelled by them on letter dated 15/04/2013 so do I enter the date it was cancelled somewhere?

Thank you

[jboyd83]

Also, I have used this one for charges....'Credit Card'

http://www.consumeractiongroup.co.uk/Spreadsheets/England/BankChargesOO.ods

does this mean I have to start over again and do it on the CISHEET?....

[ims21]

Also, I have used this one for charges....'Credit Card'

http://www.consumeractiongroup.co.uk/Spreadsheets/England/BankChargesOO.ods

does this mean I have to start over again and do it on the CISHEET?....

 

Yes...use the one that dx linked you to.

 

The one you have used is only calculating simple interest at 8%....you need to be reclaiming at the rate they charged you compounded.

[jboyd83]

Right, I did change the rate to 39.94% in the box F8 ...does that make any diff?

[dx100uk]

sadly yes

 

you can copy and paste your cols into the CISHEET.

 

saves you retyping the dates/ammounts.

 

if they are still charging YOU their int rate

then you keep the claim to [auto set to insert - today] everytime its opened]

 

as it is.

if you can see they have STOPPED charging their int rate

you must close your claim to date to that date.

 

dx

[ims21]

This is the spreadsheet you should be using

 

CISheet v101.xls

 

Cell D15 is where you enter the interest rate that you are claiming.

 

Then just fill in the rest of the sheet as normal.

 

The sheet should open on OpenOffice.

 

When you have done your sheet, post it up.

[jboyd83]

[ATTACH]45821[/ATTACH]

 

There it is...it has calculated more than what it did on the previous spreadsheet Id used...can someone have a quick look to see if it looks correct please?

[dx100uk]

that's great

 

dx

[Old Cogger]

[ATTACH]45821[/ATTACH]

 

There it is...it has calculated more than what it did on the previous spreadsheet Id used...can someone have a quick look to see if it looks correct please?

 

 

That looks better

[jboyd83]

GERRRRIINNN!!!

I have done the PPI as well:wink:...is this ok?

 

[ATTACH]45822[/ATTACH]

[dx100uk]

so you cancelled the PPI in 2011?

 

dx

[jboyd83]

Ok then, I think I'm growing in confidence- thank you all so much !!

 

So, what happens now, do I send a letter to CAP1?

If so do I include the spread sheet?

What happens if the give me the charges back, do they deduct it from the outstanding balance?

(also- I don't include cash advance fees do I?)

[jboyd83]

Yes I did cancel it dx, think I was paying for it without realising/had forgotten....I expect I had a brain fart (as hubby calls them) and thought 'what the hell am I paying this for!?'

[dx100uk]

ok for the ppi you need to fill this out. fos cq

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

 

pers I use one reason only why it was mis-sold

rather than a scatter gun approach

 

you'll also need a short sweet 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,

 

sent the fos cq + spread + covering letter

 

that's the ppi pack

 

for the charges

 

theres a letter in the green library tab top left

 

send that with your spread.

 

1st class with free counter proof of posting will do.

 

dx

[jboyd83]

Ok, so correct me if I misunderstand here....

It would be the first example letter you have given which would suit me I think- so are you saying I choose one of the following sentences to keep within that letter:

 

The PPI was added without my knowledge.. (think I did agree just probablyI didn't know whether it was beneficial to me)

or

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

[dx100uk]

well no

 

what I am saying is

 

why do you think the PPI was mis-sold.

 

lots of people just copy and paste others letters or FOS CQ.

 

how did you agree to it?

by a phonecall & when

 

tell us the background of how cap`1 signed you up .

 

dx

[jboyd83]

Sorry dx I didn't mean as in 'pick one out of a hat sort of thing' I meant would I choose one that suits my situation best and omit the other..

...but to be honest I havn't a clue why when how it was mis-sold etc dx, it was in 2007...I don't even know why I would have agreed to it as I'm pretty sure I wasn't working then and usually the PPI isn't worth paying for if you're not working is it? I didn't realise I would need to know the specifics, should know better.

Ok, so I don't know, cant remember anything it was so long ago. Should I just leave it and reclaim the charges as I cant state my case for PPI being mis-sold due to not being able to remember the circumtances?

[dx100uk]

ofcourse you can still reclaim the ppi

 

no sweat.

 

have you not got a copy of the agreement or the comms log in that sar that shows how you signed up?

 

if it was by phone then they prob told you you had to have it

 

if it was by postal application

the advert prob said 'we strongly recommend it'

 

etc etc.

 

being unemployed at the time

yes made it totally useless in most cases

 

dx

[jboyd83]

Ah, ok!

 

I shall have a good look through this SAR when little fella goes to bed later, bit tied up at the moment.

 

I think Ive been mis-sold things like this on catalogues and such on numerous occasions

so that's probably another reason I cant remember specifics as they all blurr into one.

 

..I'm sure one of them tried to convince me to sign up to it even when I said I wasn't working!

 

Thank you very much, I shall be back once I have had a thorough look.

[jboyd83]

Ok,

I have looked through the pile of data from CAP1 and

 

I have a sheet which has my signature on.

 

It is a credit agreement which also asks me to sign if I want PPI, which I have signed.

 

I was also working part time at the point of application.

 

It says ''I wish to purchase optional PPI.

I understand that I am purchasing the product(s) ticked above on credit provided by you

and that the terms relating to the credit for the products can be found at section 14 in this agreement.''

 

Section 14 doesn't say much about terms and conditions...

 

''We will supply you with all details of PPI.

You should read and understand the main benefits and exclusions of the insurance cover.

If you select such insurance, you authorise us to pay the insurers in the way they ask us to pay it....blah blah blah...''

 

Nothing with specifics about the terms of payouts, claiming etc.

 

Don't know where I stand with that, maybe they sent out the details of the PPI after I signed, I don't know..?

[Desperate Daniella]

It is only a credit agreement if it contains the Prescribed Terms as part of the same document as your signature appears on.

 

Can you post it up, removing all personal information.

[jboyd83]

I believe it does Daniella, it says Credit Card Agreement regulated by the consumer credit act 1974 an is a sheet containing key financial info, apr, terms and condition etc. I will post it up. Was more so the PPI reclaiming which I was doubting whether there was any grounds to reclaim....

[Desperate Daniella]

It may be okay as it's after 2007, but if you weren't working when you signed up for PPI you wouldn't have been able to claim so you shouldn't have been sold it.