Capital Bank (part of BOS) car loan

[Stevejr147]

Can anyone help me here?

 

I have a car loan thru Capital bank who are part of the BoS. I missed one payment in January which i have now incurred £340 in charges for. Every other payment has been met since, the monthly payment is £247, they are asking for nearly £600 to be paid straight away or they will take me to court take the car back etc etc.

 

I called the collections dept last night to explain i was having trouble making the £600 payment but any future DD's were fine. They agreed to let me pay £200 last night and i said i'd call back tomorrow (when the banks open)to see if i could pay any more. So i called them today and offerd to pay another £100 only to be told they wouldnt accept that and only paying the remaining (£400) would stop any more charges or action being taken.

 

I explained i just didnt have that kind of money straight away and their attitude was TOUGH and in her words, ITS SIMPLE I either pay the full amount now or continue to be charged the £40 or whatever it is fortnightly. Oh and she admitted that my charges were a PENALTY for missing the monthly payment!!

 

Sorry for going on but im livid with as ive just come off the phone to them. What i was wondering was would I have any chance claiming back the charges for this type of loan and is there anything i can do to stop further charges being made, apart from taking on board her 'SIMPLE 'advice?

 

Many thanks

 

Steven...

[Stevejr147]

Just saw this on the Capital One section.

 

'state that the account is in dispute and won't be paid until Capital One have removed the excess charges'

 

Regarding my Capital bank (Bofs) car loan I was thinking of paying the £247 monthly payment and then disputing the charges (Not that they let me pay any more than the £200 ive already given them) Does anyone know if legally they can charge me for outstanding CHARGES if the monthly direct debit is paid?

 

Hope that makes sense lol

 

Steven...

[Stevejr147]

I called the collections Dept today (spoke to a manager)to let them know I was disputing the charges as they were unlawfull and wanted my default taken off etc and guess what!!!

 

He told me he's had loads of phone calls like this but the charges ARE legal because they are charges for late payment of a loan and the OFT ruling was only in regards to credit cards. I pointed out to him his colleague had admitted they were a penalty and as such, they were unlawful only to be quoted Terms & conditions and that does not apply to loans blah blah.

 

Still nothing altho I did advise him by law i was recording the conversation so this time when i offerd to pay the outstanding amount of my monthly direct debit he was happy to accept but refused to budge on the charges.

 

Can anyone let me know for sure if he's right in saying about the OFT ruling only applying to CC's and should i go ahead with further action even tho this is a late payment of a Direct debit for a Loan the charges are for?

 

many thanks

[Lusky]

Don't even go there for me with this lot. They are part of HBOS group who have according to this site been settling before court action so someone somewhere knows that they are in the wrong.

 

This is what I intend to do:

Continue to pay monthly instalments

• Dispute late payment charges through normal process
  
• Tell them that they cannot default me for charges as they are in dispute quoting banking code.
  
• Remain steadfast. The law is on my side!!!!

In my experience the whole organisation is a shambles and think they are beyond the law.

 

I have also complained to HBOS chief exec [email protected] awaiting reply. Will post soon as received.

[Bookworm]

Can anyone let me know for sure if he's right in saying about the OFT ruling only applying to CC's

 

He's a little bit right, and very wrong.

 

The OFT ruling was mainly regarding their c/c investigation. That's the litlle bit right part.

But they also said that the reasoning should be extended to other charges.

Finally, don't forget that even before, during and after the OFT ruling, the charges were unlawful. The OFT has only confirmed loud what we were saying for months. That's where he is very wrong.

 

If all that's stopping you from claiming is what he said, don't lose any sleep over it. We know better than he does .

[Stevejr147]

Many thanks bookworm.......Its step/round two tomorrow!!!

[Stevejr147]

Got my statements thru today and they add up to just under £500 over the two years of the loan.

 

They include Admir arrears charges, Unpaid DD costs, FBS letter charge??? and FBs telephone costs??????? Also £15.78 additional intrerest (Is this what the 8% we can claim is)?

 

Can anyone let me know If its just the normal letter before action one I send or is there another one for loans? (I know there is a different one for CC's)

 

Heres Hoping

 

Steven......

[adrian1972]

Hi mate,

 

How did you get on with this? i have a loan finishing in April and i'm going to claim back £700 in charges (hopefully). What letters did you use?

[Stevejr147]

This topic was closed on 2019-03-08.

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