Advice On PPI & Penalty fees reclaiming - Best Lines Of Attack On Capital One

[L1882]

Evening all.

 

 

I've had an issue with a debt for Capital One and have now had a response to a SAR.

 

 

On the basis of this I would like to complain with a view to getting charges and/or PPI returned

and I'm looking for advice on the best arguments to use.

 

Within the SAR the records show the following:

 

The account was in 'good order' until October 2008, at which point I became unemployed.

 

Although I believe there are calls not listed as an absolute minimum they show that in December 2008 and February 2009

I indicated my employment status and a need to claim under the PPI - no action was taken.

 

They continued to charge PPI until defaulting the account in July 2009.

 

They added charges (including PPI) of at least £294.00 - on a debt that stood at £198.16 at the time payments stopped.

 

In addition they ignored a letter sent at the beginning of September 2009 offering a standard split payment with other creditors,

including a full budget, requesting they suspend charges and interest. Instead they sold the debt in October 2009 to Cabot.

 

Now I am obviously looking at the PPI and the best way to make that claim

but I also feel they failed to take account of a customer who was in clear financial difficulty,

as even their own records show had been made clear to them.

 

 

Are there regulatory/legal grounds on which I can pursue a claim against them for this?

[dx100uk]

should be pretty std claims then.

 

 

use this Spreadsheet

 

 

CISheet v101.xls

 

 

one copy for PPI

one for Penalty charges

 

 

put their int rate in cell d 15

 

 

see also the links below

 

 

dx

[L1882]

Thanks DX - will look at the spreadsheet and have a read on the other links tonight then prepare my response.

[L1882]

Sorry about this but I really do seem to struggle locating the templates - I've looked into the library and cannot seem to find the "Preliminary Approach for Repayment" and the "Letter Before Action" templates. I realise I am probably being blind but I've done a man look in the CAG library and just cannot see them - can somebody advise which section they will be in please.

[dx100uk]

for the PPI

you'll need to fill this out:

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

 

 

and a covering letter.

like the attachments.

those 3 go off together spreadsheet/fos cq/covering letter.

 

 

for the charges

its the spread and a covering charges letter.

[L1882]

Thanks DX - couldn't find them no matter how many times I looked. Have 3/4 completed the spreadsheets - I was too tired by the end to complete it last night - and on charges alone it's stacking up, though I'm struggling with the interest rate as nothing in the SAR seems to show what it was so I'll have to dig a little deeper.

[dx100uk]

post the two 'packs' up before you send them

 

 

dx

[L1882]

Will post up as soon as ready. Looking to go through rest of statements tonight and/or tomorrow. Aim is to have pack ready for weekend and see where we go.

[L1882]

One question regarding the claim sheets

 

 

- do I put an end claim date of the time they effectively stopped adding charges and interest

or is it to date as they have had the benefit of my money until I get it back?

[dx100uk]

if there is a date when they stopped adding their intrest [card closed / terminated or they just stopped their int .

 

 

then you claim to date on both CIsheets must be set to that date.

 

 

now, if this has happened, you are entitled to 8% stat int on the total of each CISHEET to the date they settle.

 

 

the easiest way to guestimate this is to take each total

and using two copies of the statint sheet [one for each]

 

 

pop the total in the statint sheet on the day after they stopped their int

 

 

StatIntSheet v101.xls

 

 

then ofcourse each relevant sheet needs adding to each pack.

 

 

just remember these sheets are best guide

as for 'how ' they do it is their way

 

 

but we've found this method to be quite accurate and inline with the FOS guidance.

 

 

dx

[L1882]

Thanks for that DX.

 

 

I'm going to have to go back for more information as they haven't sent any details of charges in the first 3 years.

 

Just so I inderstand.

 

 

I should add the charges and ppi to separate sheets calculating interest at their rate (34.5 APR lifetime according to their data) until the date they stopped charging it.

 

 

Then I add the 2 totals to the sheet above then charge 8% PA from that date to now/when claim is settled?

[dx100uk]

the statsheet does the 8% for you. all you have to do is input the total from the Charges sheet into ONE COPY

-that gives you 8% till settlement on the charges claim

 

 

then repeat for the PPI on another copy.

 

 

so to recap

each payment of PPI on its date is entered individually on a new line on a copy of the CISHEET

their int rate is entered in cell D 15, you set the end claim date to when they stopped the above interest

 

 

when you've done that you take that total

and enter it in [as a whole number] on the day after they stopped their int

in a copy of the statint spreadsheet.

that tell you the 8%

 

 

then do the same for the charges

 

 

dx

[L1882]

Brilliant - I've done the first 2 sheets as far as I can.

 

 

I can work out what the PPI charge was for the missing dates but obviously not the charges.

I've written today to ask for that information.

Once I've got it I will complete the sheets and post my pack on here before I send anything.

 

Thanks for all the help

- I should have another couple to do for LLoyds current account and credit card (and possibly loan and HBOS )

and this first one has helped me understand what is required.

 

 

I've also bought a copy of the Patricia Pearl Small Claims Procedure book in preparation for possibly having to issue proceedings

[L1882]

A quick update on this.

 

 

I've had to send them a chasing letter today as they haven't responded

- and I suspect there will be other charges that were on the incomplete statements.

 

 

On the other thread relating to Barclaycard slick indicates I should claim compound until today rather than the date the account was closed.

 

 

Now If I do this on here it makes a difference of almost 7000.00

- so should I charge them compound interest until today or until account closure and then stat interest of 8%?

 

 

Obviously I'd prefer to go with the later but DX you seem to be saying only until account closure but slick says until today on compounding the interest

[L1882]

Sorry please ignore for now.

Edited April 14, 2015 by L1882
Posted before ready

[dx100uk]

A quick update on this.

 

 

I've had to send them a chasing letter today as they haven't responded

- and I suspect there will be other charges that were on the incomplete statements.

 

 

On the other thread relating to Barclaycard slick indicates I should claim compound until today rather than the date the account was closed.

 

 

Now If I do this on here it makes a difference of almost 7000.00

- so should I charge them compound interest until today or until account closure and then stat interest of 8%?

 

 

Obviously I'd prefer to go with the later but DX you seem to be saying only until account closure but slick says until today on compounding the interest

 

 

if you read the BC successes forum

you'll see that's what BC cough at CI till claim settlement

other creditors rarely do the same.

 

 

dx

[L1882]

Right Cap One have finally sent me the additional information I've requested and I've a number of £20 charges dating back to 2005.

 

 

I've put these in the spreadsheet (attached) and also used the template letter. If possible can somebody please check these before I send them?

 

 

Also wondering, based upon Barclays dismissing my initial approach out of hand, whether I should just go straight in with the LBA rather than doing initial approach and then LBA - any opinions?

[dx100uk]

is the card still active

 

 

dx

[L1882]

No - hasn't been for quite a while. They closed it and sold it on to Lowlifes.

[dx100uk]

then you cant charge their int rate till todays date!

amend your claim to date.

 

 

you can however charge 8% simple int on the day after they stopped their int till the claim is settled.

 

 

pop the total from the CISHEET in the statint sheet on the day after their int stopped

 

 

dx

[L1882]

Well that makes a significant difference to how much they owe me

 

 

- Ok So I now have that figure but I guess I will need to reword the letter

so that as well as showing the amended amounts it references stat interest

rather than restitutionary interest?

[L1882]

Just on this DX - I've noticed on other threads people using SempraMetals v Inland Revenue Commissioners as a basis for compounding to date - why would the same principle not apply in this instance?

[dx100uk]

if you feel it applies then use it

 

 

just my take on things that's all.

 

 

dx

[L1882]

I'm not disagreeing - on these issues I'm clueless, new to all this so I'm trying to get to what is right in law but also to understand that big question, why.

 

I know on my Barclays one I've gone for 'until' now on compound, wondering if I should have only gone until account closure - though I note you say BArclays often do pay out before court on that basis. I guess we are trying to avoid actually getting into court here?

[L1882]

Sorry I should also point out that most of these charges are at a level that has already been ruled "unlawful" which I thought may give more credence to the argument - especially as I have actually paid these and been denied use of those funds since that time?