court threat from Brian Carter sols

[Desperate Daniella]

If you can blow it up that would be brilliant, but from the many others I have seen there won't be any Prescribed Terms on it.

[dx100uk]

can you please stop phoning fleecing dca's you need a papwork trail

 

have you put these outstanding PENALTY charges in the spreadsheet yet

 

This second spreadsheet is a compound interest calculator and can be used both for PPI claims and Charges Reclaims on Revolving Credit Accounts such as credit cards. Compound interest is not an award that fos will give in respect of PPI claims but it can be used in PPI cases that are pursued through the courts. It is the standard sheet that is also used for charges reclaims both on credit cards and loan accounts where interest in restitution is claimed.

 

CISheet v101.xls

 

 

put each charge in

 

put their int rate [purchase rate] in cell d 15 [apr not monthly]

 

dx

[Desperate Daniella]

As you have already sent a CCA request to Capital One and they didn't respond write to BC, as above, which informs him of that. If he wants the money he can get the agreement. Or not.

[floricita]

Sorrry a bit confusing.

 

The poster above says they do have stored away the agreeements.

 

DX is saying I should write to them now about the penalty charges.

 

And Daniella is saying I should only at this stage write to ask for a contract.

 

Unless I have misunderstood.

[dx100uk]

no I've not said that

 

but we need to know the level they truly represent

 

and drop the word contract...its a consumer credit agreement.

 

dx

[Desperate Daniella]

They may have application forms, like the one above. These are not credit agreements. Consumer credit agreements must comply with the Regulations of the Consumer Credit Act 1974. As far as I can see from the image above, and it looks like many I have seen, it does not contain the Prescribed Terms and therefore it is not a valid credit agreement.

 

 

For running account credit the Agreement must state:

 

1. A term stating the credit limit or the manner in which it will be determined, or that there is no credit limit.

 

2. A term stating the rate of any interest on the credit to be provided under the Agreement.

 

3. A term stating how the debtor is to discharge his obligations under the Agreement to make the repayments which may be expressed by reference to a combination of any of the following:

 

(a) number of repayments;

 

(b) amount ofrepayments;

 

© frequency and timing of repayments;

 

(d) dates of repayments;

 

(e) the manner in which any of the above may be determined;

 

or in any other way, and any power of the creditor to vary what is payable.

[Desperate Daniella]

I should think that Capital One have only application forms which do not contain the prescribed terms. I have never, ever seen a compliant Capital One agreement.

[Desperate Daniella]

And you should have been given any T&Cs at the time you signed the agreement. They can't just type something up and say you were given it at the time. They try that on as well.

[floricita]

no I've not said that

 

but we need to know the level they truly represent

 

and drop the word contract...its a consumer credit agreement.

 

dx

 

 

Ok thanks. The value of the charges is £300

[floricita]

I should think that Capital One have only application forms which do not contain the prescribed terms. I have never, ever seen a compliant Capital One agreement.

 

Thanks Daniella. So just as a slight aside, are we saying in theory Capital one could go broke because everyone has an invalid agreement (or before a certain time)? And if everyone just stopped paying them they would go under?

[Desperate Daniella]

In theory I suppose they could. although I believe that Capital One, like every other bank, made their agreements compliant with the Regulations some years ago.

 

I have no sympathy with them because they are all unsympathetic and unhelpful and refuse generally to accept any reasonable payment proposals. Instead they claim some tax relief on the loss and then pass people on to DCAs who hound them to death - literally in some cases.

 

Then there is the fact that they keep increasing interest rates. If anyone takes out a credit card with a 9% interest rate they may well expect it to increase by a couple of percent. However, in many cases interest has doubled, or even tripled. Many people would have paid back the capital in full and a large amount of interest if they had a card for some years before they got into difficulties.

 

Capital One in particular had a very sly way of getting late payment charges. Most credit card companies would not apply a late payment charge provided the payment appeared on their system on the Pay By date. But in Capital One's case the funds had to have cleared into their account by the Pay By date so you had to work backwards to work out when the funds would clear and if you got it wrong you'd get ......... a late payment charge!

 

If Capital One, and the other banks, would accept from someone with financial difficulties the same amount of money as they are willing to accept from a DCA who buys it, or even just a bit more, then that would be a far better way of dealing with it.

[floricita]

Another thought, apologies for multiple posts!

 

Could that guy from BC be getting his facts wrong because the original contract/agreement whatever it is called only needs to be provided on agreeements prior to 04/07? Cand thereafter I think he is indeed correct in that they can just give you a rough copy especially if it iwas done electronically?

 

Incidentally mine was before 2007

[dx100uk]

Ok thanks. The value of the charges is £300

 

is this from the spreadsheet?

 

dx

[Desperate Daniella]

I expect he knows the facts. Remember, he's not going to give you any information which could be advantageous to you. He is just after your money and he'll say anything to get it.

[floricita]

Yes but I used the moneyclaim sheet which I used previously from MSE. It is a little over £300 to be exact.

[dx100uk]

post it up

 

dx

[floricita]

You must stop phoning them up. DCAs say things on the phone that they would not put in writing. And if they do take you to court, you will have no record!

 

Capital One are one of the worst at keeping documents and, as I have already told you, in nearly five years and having looked at dozens of Capital One threads I have never seen one which is compliant with the Regulations of the CCA 1974. They won't have it. Why would they have yours when they don't have anyone else's?

 

If they want to enforce in Court they must have the original document. If you would put everything in writing he'll have to answer in writing.

 

Why on earth are you listening to him? He will tell you anything to get money out of you.

 

Freds and BC work out of the same offices. Freds are a DCA and if they want more 'muscle' they pass to BC. Not that he has any anyway.

 

I know you want to settle, but you are in a stronger position to negotiate if you know your rights.

 

Did some research into this and the OFT say that they do not need the original agreement. This is from their site. Be interested to hear your views

 

"

What you should get

You should get a copy of your agreement. If it's hard to read, for example a bad

photocopy, ask them to send you a better version. It doesn't have to be the

document you signed, though if it isn't, they should let you know. The

paperwork should:

• tell you what your original agreement was, and if there were any changes

made to it later

• include your name and address at the time you first signed the agreement,

but it doesn't have to include your signature, or the date you signed it

• include the statements about your rights that were in the agreement you

signed.

OFT1272"

[Desperate Daniella]

They do not have to provide the original agreement to meet their Section 77/78 CCA obligations.

 

The Waksman judgment 234 (4) says that a copy of the original agreement must be supplied if there have been variations.

 

All credit agreements must contain the Prescribed Terms. Capital One can't just say they were included in what you signed; they will have to prove it.

[Desperate Daniella]

Have you heard anything else from BC?

[floricita]

Ok, so why don't the OFT mention this on their website? (or do they and I haven't seen it?)

 

I have no idea what is going on with Brian Carter sols. They had a flurry of harrassing me and now I have heard nothing from them. I sent them another offer letter which they just ignored.

[Desperate Daniella]

I don't think OFT would tell anyone how to argue about enforceable/unenforceable agreements on their website.

 

More fool them if they are refusing a reasonable offer.

[floricita]

No they are not refusing anything. They just are not replying, and not chasing up anymore. Very strange.

 

Do you know any threads where people have "won" based on contract not being enforcable like you say?

[Desperate Daniella]

There are many where people have won.

 

And I told Lowells the Capital One agreement was not enforceable and they wrote it off. It wasn't enforceable and they knew it, despite various letters demanding payment.

[dx100uk]

who is shown as the owner of this debt on your cra file please

 

sorry if you've told us this already

dx

[floricita]

It says capital one on the equifax report