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    • dca please.?   Barclays would have marked the A/c Defaulted on or before sale, and issued a default notice a dca debt buyer cannot issue a default notice    send Barclays an sar.   the A/c was opened whilst resident in Scotland that means the debt is statute barred and extinguished,, dead gone parrot. though that has no relevance to a credit file.    
    • scan it all up to one multipage PDF read upload carefully   I suspect its the usual stuff they troll out for vanquis card debt those  application forms are not a credit agreement    lots of previous Lowell claimform threads here to read that explains why.   dx  
    • In late 2014, I received correspondence from a DCA acting on behalf of Barclays, pursuing a student overdraft of around £1k from 2003. I hadn't used this account in many years, well over six, and it is my belief (though, in full honesty,   I can't actually remember, and can't prove anything) that it was closed a couple of years later in around 2004/2005/2006 (and it wasn't on my credit file in 2014), and the overdraft transferred to RBS (an account also closed so long ago that it is long since gone from my credit file. I certainly don't recall using it after 2004, and it was quite common then to transfer student accounts/overdrafts between banks.   I emailed the DCA, stating that I didn't acknowledge the debt, that it would be statute-barred in any case, and requested an original credit agreement. None was forthcoming,   after some back and forth, I invited them to issue proceedings if they felt they had an enforceable credit agreement. They did not respond.   I am currently looking at applying for a mortgage, and have noticed that whilst this account doesn't appear on Equifax or Experian, it is on my TransUnion file, showing as set up in 2003 and defaulted in 2015.   Does anyone have any advice as to what I should do? The 2019 Doyle case might make my contention that it was statute-barred somewhat shakier, though, equally, I haven't heard anything about it in over five years,   I cannot believe that, if the account was not closed/settled in the mid-2000s as I believe, that Barclays would not have issued a default notice before 2015. Does anyone have any advice as to what I should do?   I want this off my credit file, even if the account wasn't closed in 2004, I believe that Barclays/its DCA are trying to pull a fast one by recording a default in January 2015, but given that neither party has any records with which to validate their belief/position, it hardly seems fair that I pay out for something that either doesn't exist or ought to be statute barred? A further point is that whilst it is Barclays, the account was opened at a branch in Scotland (where I lived/studied), where I believe that the Limitation period is five years, so, even if it transpired that the default was legitimately in 2015, would the matter now be statute barred anyway? Or would it be six years given that I now live in England?
    • Hi.   Quick update. I have contacted the FOS and asked for written confirmation of the decision made so that I can take court action.   I have had my Cifas report today. It states.   Barclays Bank registered a 1st party fraud report against me on the 30th May 2019. This is the date they closed my account.   Case Type: Misuse of facility. Reasons: Multiple encashment fraud. Cifas Filing: First party fraud - (Opening an account or other facility for a fraudulent purpose or the fraudulent misuse of an account or facility; or taking out and insurance policy for a fraudulent purpose or the fraudulent misuse of an insurance policy and/or insurance policy documentation)   So, they told the FOS early December that my credit file would be amended and any negative reports would be removed, but as of today the account is still in default with Equifax and I still have the Cifas registered against my name.
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tnook

Claiming old charges with contractual interest

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Hi all. Starting a new thread on the journey to reclaim my very old charges. The story so far. After chasing Barclays for almost 18 months and with days to go before a court hearing they handed over my credit card statements from 2001-2004. Many thanks to everyone who helped along the way. 
 

I’ve had a quick look through the statements there are approximately 20 charges there. £15-20 pounds each. I’ll sort them by credit card account and add them to the compound interest spreadsheet.  Then update here. 

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Glad you started the new thread and watching ..............


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don't forget the shelley and martin2006 threads 

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Ok I plugged in the charges to the spreadsheet and I am getting some very big numbers out. 
 

 I could split it into separate claims for the different credit cards. However even then the amounts are over the small claims threshold. 
 

Should I split it further? That would probably annoy the courts.


Is there a claim amount where BC start to put up a proper fight?

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Ooh, can you give us the figures?

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Are the cards still active?

if not you cant charge CI past the date they stopped charging their int IMHO

 

but you can charge staint on that total till they settle

 

Dx


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15 minutes ago, dx100uk said:

Are the cards still active?

if not you cant charge CI past the date they stopped charging their int IMHO

 

but you can charge staint on that total till they settle

 

Dx

 

No they are no longer active. Why is there a limit to only charging CI during their active span? I would have thought BC would have carried on making money on the charges I paid from the date of the charge onward.

 

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nor investing at their card rate past when its not charged by them so neither can you.  

 

Rather than do CI

Use restitutional at 24.9%

Slick132 is the master on this


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I'm learning  :) So contractual is different from restitutional then?

 

Can I claim restitutional for the elapsed time from the charge till the claim date?

 

Thanks for your help!

 

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Hi Tnook,

 

What rate did you use on the compound int't spready referred to in post #4 above.


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Hi Slick, I tried a few 24.9%, 29.9% then went to BC's website and found they charge up to 34.9% on some of their cards.

 

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Yep I read the thread, is that 24.9% for the duration I had the cards of for the time from then till now?

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Restitution..until they settle

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Marvellous, I was getting worried.

 

Slick, why 24.9%. Not disputing it, just curious when they charge all the way up to 34.9%

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Over the years, it's a figure that has been used successfully and is perhaps more easy to justify.

 

Also, as time marches on, older charges result in high amounts of restitutionary interest that can take claims beyond the safety of Small Claim £10K limit.

 

Let us know the approx figures you have for default fees and for compound interest thereon when  you use 24.9%.


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Thanks Slick. There are 4 credit cards in the statements. Using the CI spreadsheet at 24.9% I get:

 

Credit card 1:

Charges = £150   (8 charges)

Comp Interest = £6,681

 

Credit card 2:

Charges = £60 (3 charges)

Comp Interest = £2,191

 

Credit card 3:

Charges = £130 (7 charges)

Comp Interest = £5,949

 

Credit card 4:

Charges = £60 (3 charges)

Comp Interest = £2,192

 

Total charges = £400

Total comp interest = £17,014

 

I guess I could run these as separate claims.

 

Edited by tnook

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Seeking advice on this for you ..........


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Fascinating how sensitive the percent rate is on compounded interest. I was just trying the spreadsheet with the following values:

 

24.9% -> £17k interest (as above)

29.9% -> £32k interest

34.9% -> £61k interest (currently highest interest rate BC charge customers)

 

Don’t worry I’m not planning the impossible 🤣

Edited by tnook

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Yes, a tiny increase in the interest rate results in a significant hike in the compound interest on the spready. And the older the charges being reclaimed, the greater the effect of compound interest.

 

Advice from Site Team on the amounts involved is to proceed with card #1 claiming the £150 + £6681and card #2  claiming £60 + £2191. Total of £9,082 is within Small Claims limit of £10K.

 

Crack on though because interest will continue to rise rapidly.

 

Please remind us, have you reclaimed from BC (or other card) before.


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Thanks Slick. Will send out the letters tonight. 
 

I started a Cahoot claim but didn’t complete. Not claimed BC before. 

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Sorry question out of curiosity. Is there a problem with splitting a single credit card into multiple claims?

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Yes, splitting a single card claim into multiple claims would cause problems. If/when the bank looked to settle a claim, they'd want you to agree that the refund is in F&F Sett't of all claims regarding that account.

 

Secondly, please hold off sending the letter(s) while Site Team discussions are ongoing about this case.


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I see. Good point. Will wait before sending first round of letters. 

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Guys just to let you know. Chasing these claims is more out of the principle for me. Truly value the help CAG give and provide. Admire the reassurance and advice you give, especially to those in desperate need. Will be looking to donate a significant portion of the final claim. 

Edited by tnook

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