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Recalculation by Capital One - Are they trying it on????


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Hi folks,

 

I'm looking for some advice on the next steps to take in regards to a PPI complaint and a OL charges with Capital One, let me explain for you :|

 

PPI - back in March 2013 I got an offer from Capital One totally £1,086.58 of which only £87.94 was refunded for the premium and the rest was associated interest £998.18 & a further 8% interest of 0.57. They deducted the basic rate of income tax at 20% on the interest element, which equated to £0.11 now maths is not my strong point but those tax figures make no sense to me, I've had 2 other PPI payouts both from HSBC both amounting to no more than £1500 but both had tax figures well above £100.

 

Due to recent (2014) findings I came across, Capital One along with Lloyds, Barclays & MBMA were suspected on under paying their payouts so I wrote to Capital One asking them to recalculate the payout, I received a letter from them yesterday advising that they had actually "paid me a far greater level of interest then was required" also they have failed to break down how they came to this sum even though I had requested this information. I received my SAR and no information on PPI is included, I have copies of my short statements but that's it.

 

Also weirdly I've noticed on the original PPI letter that they were supposed to take the payout and pay it towards my balance but i actually received a cheque but I doubt thats a relevant point. So my question is what do I do next? write back asking for the long copies of my statements so I can see just how much I paid in premiums? are they likely to furnish me with these copies or is this a matter than I will need to follow through to the small courts? Any advice/help would me much appreciated.

 

OL Charges - £600 in charges have been placed on my account mostly between the years 2009-2011 I wrote to Capital One requesting for those charges to be repaid I used compound interest of their current rate on my card of 39.9% - an increase of 10% from the initial opening rate - I only found out about once I received my SAR. The total payment amounted to over £3000 obviously they said no to the claim but in their own words, they would "robustly defund their entitlement to these charges" entitlement indeed :mad2::-x even though they haven't even attempted this in the letter. So I'm looking for advise on this issue also, do I write back to capital one now even though they have said it's their final response or do I just look at small courts for this issue also?

 

Is it wise to issue two subjects on the same court papers or would I need to file two separate claims?

 

Thank you for any help you may be able to offer, these sharks really are something else

 

OCB

Edited by citizenB
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"short statements" what exactly do you mean by this ? I remember when Capone sent me statements through the SAR - they just detailed what was spent - payments to the account - PPI - charges - what they didnt provide was the interest rate (I think).

 

You are entitled to a proper and accurate breakdown of how they have arrived at your redress figure - perhaps make a formal complaint demanding one.

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Hi Citizen B

 

thanks for your reply.

My initial letter that was sent to Capital One was indeed a formal complaint,

quite a lengthy one as well.

 

 

It was addressed to and received by the Legal Department who sent it on to General Complaints Department.

 

 

I have received replies from both the PPI team and the Complaints Department neither of whom addressed any of my complaints in a way that would imply "we have done all we can" rather just spouted off loads of blah blah blah

 

the short statements I speak of begin in 2002 & have no paid in or out figures until March 10th 2009

 

 

from this date forward until January of this year,

I have a list of transaction to the account that include Cash Interest fees and over the limit charges but nothing about PPI.

 

 

Interestingly enough which I just thought about now,

I received some copies of these statements back in December before I officially requested my SAR in them contained information on transactions beginning March 2008 but nothing before that. I hope that makes sense?

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I would think if you sent a complaint that went over more than one page, then it is most likely it wasn't read and a lot of their response would have been based on assumptions of what your complaint actually contained :(

 

Complaints need to be short - bullet pointed.

 

From the way in which you describe your statements, it would appear that your SAR wasn't fully complied with. How long ago was it made ? You might have to send another and be more specific in what you require - eg statements that identify spending - payments to the account and any other considerations such as PPI premiums, late and default payment charges - interest rates for both cash and product spending.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I would probably keep the two things separate as well.

1 for charges

1 for PPI

 

FOS will look at PPI for you if you have had a final response re this but it could take upto 2 years to get an end result.

 

You may therefore end up with 2 separate county court claims against Cap1

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lol once I started the complaint it just flowed and made me more upset. I had done a bit of research on this site before hand so I'm aware of the games Capital One play & I didn't expect it to be easy but I thought that by sending a lengthy complaint explaining my position it would've at least warranted a bit of attention! Anyway they've gone the route expected!

 

I received the SAR 2 weeks ago, a stack of paper half of which looks like it's been sent by an airline! I haven't gotten around to figuring it all out yet.

 

So I'll contact the PPI department looking for a full breakdown of how they came to this figure, which has already been requested in the first letter.. How many times can they ignore a request? & Can the amount be used against them in court? Am I correct in thinking that Capital One rarely if ever give this information away if it has not been included in the original SAR? What steps do I take if they fail to provide this information?

 

Thanks again

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Have a good look through the SAR first, the answers may well be in there

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EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

I am not legally trained or qualified, any advice i offer is gleaned from experience and general knowledge, if you are still unsure after receiving advice please seek legal advice.

 

 

 

GEMHL Settled

Barclaycard Settled

A & L SETTLED IN FULL :lol:

Spml Reluctantly withdrawn

Blackhorse pre 31-7-06 Demand removal sent 23 8 06. ICO ordered removal jan 2007....REMOVED:lol:

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Hi Martin,

yes that's what my common sense told me too :oops:

especially if it goes to court.

 

 

I've already had a horrendous experience with the FOS & HSBC.

 

 

3 years worth of absolute grief, important documents being lost on a regular basis

personnel constantly charging etc etc etc

 

 

I vowed never again & conculded that staff aren't trained in a manor that's productive to the complaints

they're dealing with and I may as well deal with court stress as opposed to stress stemming

from inexperience and the inability to comprehend the issues at hand,

 

 

I'm wondering if Capital One staff are similar...?

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?? the PPI 20% tax is correct

it is only charged on the 8% redress int figure

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Evening folks.

 

Just wondering if anyone has an email address for a bigger bod at Capital One? I've had quite the weekend with them and need to speak with someone on the ball.

 

thanks

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Evening folks.

 

Just wondering if anyone has an email address for a bigger bod at Capital One? I've had quite the weekend with them and need to speak with someone on the ball.

 

thanks

 

As far as I can tell, this is the email address of the vice president (UK)

vicky.mitchell@capitalone.com

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