Coll2900 V Capital one - Help Needed

[coll2900]

Hi everyone

 

I'm finally ready to start my battle with CAP one. I've read through a lot of information on the forum, everyone seems so knowledge and willing to help. I didn't need to send them a S.A.R as I kept all my statements. I'm now ready to send the preliminary letter and will be claiming about £1500 over the past 5 years.

 

I'm getting a little confused now though about contractual interest, I'm not sure if that is part of Vamp’s spreadsheet that I used to calculate the charges. Can someone please explain the contractual interest to me?

 

Also does the letter look ok, I used the template in the library for bank accounts but changed it slightly.

 

 

Capital One Bank (Europe) PLC

Executive Offices

PO Box 5281

NG2 3HX

 

[date]

 

Request for repayment of charges

 

Dear Sir/Madam,

 

ACCOUNT NUMBER: 5460 xxxx xxxx xxxx

 

I am writing to ask you to refund to me the charges which you have levied from my account over the last five years.

I now understand that the regime of fees which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits 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 letting me have 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.

 

I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. 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 account 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 they 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.

 

I calculate that you have taken £xxxx plus £xxxx which you have charged me in interest for the sum which you have taken. Total £xxxxx

I enclose a schedule of the charges which I am claiming with this letter

 

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 letting me know a date by which I will receive 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,

 

[e28bigalbexley]

Hi coll Welcome

I believe that you need Spreadsheet 16 from Vamps Google site. VAMPIRESS'S CHAMBER OF "CONSUMER ACTI...

 

Your letter looks ok but i think you need to state you are claiming Compounded Contractual Interest in your letter and at what rate your claiming it at, unlike if you were just claiming Stautory Interest and add it when you file a claim.

 

IE. I calculate that you have taken £xxxx plus £xxxx which you have charged me in interest for the sum which you have taken. To this i am also adding CCI at your current Cash Interst rate of 2.074% per month or 28.59% apr Total £xxxxx

I enclose a schedule of the charges which I am claiming with this letter

 

My % figures are from some time ago so you would need to check their highest rate.

 

HTH AL:)

[coll2900]

Thanks for the suggestion e28bigalbexley, I’ve amended my letter. With some help from bill-k on my charges spreadsheet I think I now understand compounded contractual interest a little better.

 

I'm ready to send my prelim letter to start the process but I’m really scared because with the compounded contractual interest my claim comes to more than £4000. I used the interest rate quoted on their website for my card at 34.9%. What if my claim is the one they defend in court, I don't know if I’m up to standing in court against them with their expensive lawyers.

 

I'm also worried that they'll want me to pay off the outstanding balance of about £1100 immediately.

 

Sorry to go on I’m really worried. I’ve got two other claims to start with Lloyds and Citi cards, so I should get a move on but I’m really worried. Also how do I know if cap one has defaulted my account.

[e28bigalbexley]

Lots of people have been where you are, CCI is a recent introduction but the banks/CC co's have been paying out. if you are unsure then you should stick to the stautory 8% (added when you go to court). Alternatively when you do file for court, in your particulars of claim you could initally claim for 34.9% but as a back up the standard 8% which ever the judge sees fit.

To find out if you have been defaulted go to Equifax or Experian websites (these are the 2 most used CRA'S used by the banks/CC co's) and get a copy of your credit file from both (£2.00 a time i believe) although they do run promotions (on line)from time to time it can cost you NIL. Use the prelim template in the libary and adapt the paragraph for the default, until you can get you credit file sent to you.

Try not to worry keep paying what you can, the max claim in small claims is £5000 before interest i believe but either way your fine and inside the max limit.

Now chin up big smile and carry on if your stuck come on here and have a chat and someone will put you at your ease, we are one big happy family:D

 

AL:)

[peaches' mum]

Hi Guys

 

Ive tried to access Vampiress's spreadsheet 16 to enable me with my claim against CapOne however I cant seem to access it even though ive just opened an account with google - can you help?

Thanks

[e28bigalbexley]

I think she is working on them this weekend i shall get some conformation for you from a man who knows (hope you like apes;) ) back in a while.

 

AL:)

[peaches' mum]

Hi e28bigal bexley

 

thank you soooo much! im also really confused as to what i can and cant claim for from cap1...can i claim for purchase interest, balance transfer interest, overlimit fee, late payment fee, cash advance fee & cash interest?

 

thank you once again

Peaches' mum

[e28bigalbexley]

You can claim over limit fees and late payment fees, returned cheque fee.

you cant claim the interest ie. purchase interest is when you buy a pair of shoes using your card:o . cash advance fee is when you draw cash on the card via a cash point or in a bank. balance transfer fee is what it says (probably promotional and a lower interest rate for a time).

HTH:)

 

AL:D

[peaches' mum]

that makes perfect sense! oh dear i dont think i will be claiming much but hey as my first try it worth the effort. once ive 'sorted' cap1 out ill be onto 1stdirect! what is this contractual interest that everyone is talking about?

[e28bigalbexley]

Well Compounded Contractual Interest is what you can charge them in the interest of fairness and balance (otherwise know as mutuality and reciprocity) basically they charge you interest at their top rate (34.9%apr) if you go overlimit/late payment, so you charge them the same rate for taking your money and charging you interest unlawfully.....Fairness and balance:D

AL

[peaches' mum]

oooooooh i like the sound of that! can i send that in my schedule of charges with my 'give me my money back' letter?

[e28bigalbexley]

Peaches mum

have you got a thread of your own so this one does'nt get hijacked. also the Monkeys PM box is full and till he empties it i cant get him to answer your query on the Google spreads. Meanwhile PM me a link to your thread:D AL

[Karma1]

I'm in the same situation Peaches. £200 LIMIT. £577 owed from going over that limit from THEIR charges by £1.60 ... Despite paying of £50, £60 here to get it cleared, the account just keeps climbing back up

[peaches' mum]

how do i get my own thread going? as you can probably tell im completely useless with pcs!

[bill-k]

Hi - sorry for the delay.

Peaches Mum: As AL says, you claim just penalty charges. But you can claim the portion of the interest that was charged on them, if you want. It involves a bit of extra work, though, so it's up to you to decide if it's worth the effort. You might find the links below useful, too.

 

I've been posting this up everywhere I can:-

Just an announcement from Batty Bill here. Vampiress has announced that her Google Chambers will be closed for a while, as they are undergoing a "Re-Vamp"

Mindzai's spreadsheet will not be affected by this, and should still be available.

 

For those needing compound interest spreadies, this is available for download, along with Excel versions of Vamp's Recommended #5 (for current accounts) and #16 (for credit cards) spreadies here:

 

http://www.cagmembers.go2.to/

Beginners' Steps:-

http://www.consumeractiongroup.co.uk/forum/post-475208.html

Trouble finding stuff? Michael Browne's A-Z Guide:-

http://www.consumeractiongroup.co.uk/forum/site-questions-suggestions/53182-cant-find-what-youre.html#post436526

Spready guide:

http://www.consumeractiongroup.co.uk/forum/post-50088.html

HTH

 

Bill.

[Karma1]

I just want to know if can claim this whilst the account is at the debt collectors and is not paid yet or can I only claim after the account is paid ? I'm just so confused

[e28bigalbexley]

Karma you need you own thread and we can explain everything OK

[Karma1]

RIGHT will do

[coll2900]

Hello everyone

 

I've been really busy at work so i haven't had time to come on the forum. I gave my self a good talking to and finally sent my prelim letter and schedule of charges to CAP one on Tuesday 13 Feb.

 

I can now start on my claims from CITI and lloydstsb.

 

Thanks for all your help, i'm sure i'll be asking for more help as time goes on.

[pmhcfc]

Hello everyone

 

I've been really busy at work so i haven't had time to come on the forum. I gave my self a good talking to and finally sent my prelim letter and schedule of charges to CAP one on Tuesday 13 Feb.

 

I can now start on my claims from CITI and Lloyds TSB.

 

Thanks for all your help, i'm sure i'll be asking for more help as time goes on.

 

I'm one day behind you re cCap 1 - Good luck and keep us posted.

[coll2900]

Hi all

As per usual Cap have ignored my prelim letter, so I’m now going to send my LBA. I’ve got a quick question do I send the LBA to the same address as the prelim letter.

I understand that in the LBA I should reiterate that I’m claiming contractual interest and I need to reconfirm the amounts I’m claiming as I hadn’t put lines in the spreadsheet for months where I didn’t get charged.

I wish there was a way I could speed this up, I want to get it done before the OFT come back with a decision, which may mean an end to being able to claim these charges.

Thanks for your help in advance.

[e28bigalbexley]

Yep same place as the last one and they probably wont acknowledge that either:evil:

Yes put in another shedule as well.

 

AL:D

[coll2900]

They don't reply to letters yet they pester you with millions of phone calls but I'm not going to give up.

 

Do i send the LBA letter to the same address as the prelim.

[e28bigalbexley]

They don't reply to letters yet they pester you with millions of phone calls but I'm not going to give up.

 

Do i send the LBA letter to the same address as the prelim.

 

 

Thats it dont give up.

 

LBA same addy;)

 

AL:)

[coll2900]

Hi everyone

I’ve been so busy the past couple of weeks that I haven’t had time to update you on my progress with capital one.

I sent my LBA on the 5th March. I was getting quite miffed that I hadn’t received a fob off letter from Mr. Udy.

I didn’t have to wait very long because three days later I received a letter from Mr Udy basically offering the difference between the old £20 fee and the new £12 fee which according to him comes to £388. I’m claiming over £4500 from cap one. So I’ll be rejecting this offer.

I wanted some advice on what I do now, should I accept his offer as part payment and tell them I’ll continue on to filing a court claim which is due to be done on 16 March.

or

I reject the offer completely, and continue to file a court claim

All ideas welcome.

Thanks