Template V Capital One Bank PLC

[Template]

S.A.R posted today

[HSBCrusher]

Great!

 

Welcome to the site!

 

I got my money back from this lot, and it wasnt too difficult, had to file mcol, but they caved in fairly quickly after that.

All the best with your claim!

 

Crusher

[Template]

Ok I got my statements but I'm a bit stuck...reading through the FAQ and POSTS it is clear that statutory 8% interest is not charged until court proceedings....but.....can i charge compound interest (contractual or not) at the Prelim letter stage and beyond upto court proceedings.

 

And if I can and it reaches the Court do calculate 1. Bank Charges + compound interest + 8% statutory interest.

 

or

 

2. Bank charges + 8% statutory interest.

 

or

 

3. Bank Charges + compound interest throughout?

 

Some Clarification on this point would be excellent....if this information is to be found, I have not found it and I apologise for my inepititude.

[HSBCrusher]

Ok.

Sitting quietly?

then we'll begin.

When you get charged, the charge goes onto your balance.

therefore, if you are overdrawn, you will be paying interest on those charges. You can claim these back, the spreadsheet works this out for you.

When you get to court stage, you can add on 8%.

 

ok, so thats the simple method.

 

Some people have been adding on contractual interest on from the start.. if you claim this you will not charge the 8% at the end (so it is an alternative to the 8% not additional to). I know this is complicated, and many just stick to the 8% and not bother with the contractual.

 

If contractual side of things interests (no pun intended) you take a look at

Why is no one claiming the contractual rate of interest???

[Template]

Have drafted Prelim letter including contractual interest and schedual.

 

I would appreciate any comments you have

 

 

Dear Sir/Madam

 

My Account Number: ********

 

Request for repayment of charges

 

My request

 

I am writing to ask you to refund to me the charges, which you have levied from the above noted account since October 2001.

 

I now understand that the regime of fees which you have been applying to my accounts in relation to direct debit refusals, exceeding credit limits, unpaid minimum payments on time and so forth are unlawful at Common Law, Statute and recent consumer regulations.

 

If you say that they are not, then will you please demonstrate this by providing me with a full breakdown of the costs to which you have been put by as a result of my breaches, in order to reassure me that your penalties really do reflect your costs.

 

Additionally, it has now been confirmed that your particularly high level of penalties are considered to be unfair per se by the OFT who reported on the 5th April 2006 and are therefore presumed to be unlawful in the absence of specific proof to the contrary.

 

 

 

Your responsibilities

 

I would draw your attention to the terms of the contract, which you agreed to at the time that I opened my accounts. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner, which complies with UK law.

 

I am frankly shocked that you have operated my accounts in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.

 

I consider that your repeated representations that your charges are fair and reasonable are deceptive and that you have deceived me into agreeing to pay them. Your concealment of the true nature of your charges has prevented me from asserting my right until now.

 

What I require

 

I calculate that you have taken £322 in unlawful charges from my account. In addition to this, I also request that you refund me £216.33 in contractual interest, which I have calculated as of the date of this letter at a rate of 19.25% APR as set out in the attached schedule of charges. I believe this rate to be justified under the principle of mutuality and reciprocity: it is based on your standard rate for purchases that was applied under the terms of the above-mentioned account between the period of October 2001 and September 2006. Therefore the Total Amount I am claiming is £322 + £216.33 = £538.33. I enclose a schedule of the charges applied to my account for which I am claiming with this letter.

 

My targets to resolve this matter

 

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

 

I will give you 14 days to reply to me accepting, unconditionally, my request in principle and informing me of the date by which I will receive full payment.

 

If you do not respond, or you do not respond positively within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

 

After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline.

 

Yours faithfully

 

 

Schedual of Payments: Claim Date 01/02/2007

 

Overlimit fee £18 5th October 2001 Interest £32.19

Late payment fee £18 14th November 2001 Interest £31.14

Overlimit fee £18 15th November 2001 Interest £31.12

Late payment fee £18 15th April 2002 Interest £27.36

Overlimit fee £18 15th August 2002 Interest £24.53

Overlimit fee £20 30th April 2003 Interest £21.25

Late payment fee £20 29th January 2005 Interest £9.43

Overlimit fee £20 8th March 2005 Interest £8.85

Late payment fee £20 27th December 2005 Interest £4.71

Overlimit fee £20 28th January 2006 Interest £4.29

Late payment fee £20 28th January 2006 Interest £4.29

Overlimit fee £20 21st February 2006 Interest £3.99

Late payment fee £20 27th February 2006 Interest £3.91

Late payment fee £20 3rd April 2006 Interest £3.48

Late payment fee £20 1st June 2006 Interest £2.76

Late payment fee £20 2nd Augustl 2006 Interest £2.03

Late payment fee £12 2nd September 2006 Interest £1.00

 

Charges = £322 Interest on charges= £216.33 Total Claim= £538.33

 

Interest rate = 19.25% APR

 

 

 

 

What do you think?

[ukaviator]

Looks good to me.

 

Uk

[Template]

Sending Prelim tomorrow

[Brad Smith]

Hi Template, if you don't mind me asking...how did you calculate the contractual interest? I've been racking my brain for days on this now (which is fairly painful). Did you calculate the number of days since the offence and up the interest rate from 8% to 19.25? I've tried that and it doesn't seem to work.

 

Cheers

[TANZARELLI]

Hi Template,

 

You seem to have things under control, feel free to take a look at my Cr@p 1 thread there may be some info you could use.

 

Tanz

 

http://www.consumeractiongroup.co.uk/forum/capital-one/51318-tanzarelli-cap-one-default.html

[Template]

Hi Template, if you don't mind me asking...how did you calculate the contractual interest? I've been racking my brain for days on this now (which is fairly painful). Did you calculate the number of days since the offence and up the interest rate from 8% to 19.25? I've tried that and it doesn't seem to work.

 

Cheers

Hi Brad I just used the contractual spreadsheets found in Vampiress Google Spreadsheet Chambers

[Template]

Filed N1

[TANZARELLI]

Good work