DS v G E CAPITAL BANK LTD

[TUTTSI]

16/11/2006

Hi All

Just to let you all know I have today sent Evans and Debenhams a LBA

giving them 14 days to cough up.

 

Evans £87 charges and Interest £75.73 (29.9% p.a.)

Debenhams £171.00 charges and Interest £67.22 (29.9% p.a.)

 

Will let you know in due course.

Regards

DS

[TUTTSI]

No response from GE MONEY - well theres a surprise!

I guess I will start a MCOL on Monday for a full refund.

[melanieh364]

Have you any idea if claiming back interest is different with store cards than it is for bank accounts.I have noticed that you all seem to be adding on interest when you write the prelimery letter, with banks you add it on when you get to the mcol stage and that is a rate of 8%. Also what do we do about the missing statements from GE Money, do we ignore it or write again demanding them?. I couldn't believe it today when I received mine with a statement missing and little pieces of cut out paper, hardly proffesional is it.

[TUTTSI]

Hi Melanieh

Store cards normally charge a much higher rate of interest than the banks. All I simply did was take the monthly rate and times it by 12.

This is called contractual interest. For banks you can also work it the same way as normally their rate of interest is higher than 8% unless you do not normally pay interest.

DS

[TUTTSI]

I received a reply from GE MONEY today, they are paying back ALL my charges into my relevant accounts but not the interest for both Debenhams £171and Evans £87.

They say that I agreed to pay the interest, but had they not have made unlawfull charges they would not have taken the extra interest from my account.

I will write back and tell them I will accept the payment as partial payment and unless they pay the interest in full I will take out a MCOL for the balance.

DS

[me_n_my_kids]

well done on your partial win so far

[iwannabedebtfree]

keep up the pressure DS, GE have failed to reply to my prelim or LBA but im being cheeky n letting it take some time before going to court as interest at 29% accrues well on a monthly basis

 

good luck

 

adi

[TUTTSI]

keep up the pressure DS, GE have failed to reply to my prelim or LBA but im being cheeky n letting it take some time before going to court as interest at 29% accrues well on a monthly basis

 

good luck

 

adi

 

Could not agree more... the interest is rolling up, in the meantime they have credited my relevant accounts and still more to come. Good Luck with your claim.

DS

[TUTTSI]

well done on your partial win so far

 

Thankyou .....going for the interest now.

[redsonja]

Hi DS,

 

Did they cough up the interest after?

Im about to do my partners claim with compounded contractual interest and just wondered if they paid yours.

[TUTTSI]

Hi DS,

 

Did they cough up the interest after?

Im about to do my partners claim with compounded contractual interest and just wondered if they paid yours.

 

Hi Redsonja

No they did not, I will be issueing a MCOL in the near future with an upated interest schedule. I did not actually do contractual interest I did the spreadsheet in simple interest terms, but I did not actually compound it. I also will not bother with S69 interest. as the other interest I was charged was at 29.9%. The way I worked it so far I have been paid out in full with Capital One and my husbands claims look like they will be paid out in full with Halifax, Amex and MBNA using the simple interest terms.

Good luck with your claim for your partner

Regards

DS

[steven4064]

GE Money paid our charges back without much of a fight - in fact they sent a cheque rather than an offer. However, they are digging their heels in about paying back the interest. THey have sent a 'get lost' letter in reply to our LBA so, next Monday, we will start court procedings. Let's see if that persuades tham to cough up the interest (compound at 29.9% up until the point whemn the account was paid off in 2005).