Slooth and partner vs Crap one

[banksleuth]

Officially I am no longer a ghost on the system, he he. My partner and I have started claims against BArclaycard and Capital, done the request for data, and received a reply with a partial settlement. Of course, that has been politely refused.

Today my partner received some interesting recorded mail from crap one with info she had "requested". APart from the list of statements, there was a lengthy list of abbreviations they use on the system and a load of screen shots. For me this was the interesting one....

Regarding over the limit charges and late payment fees, they charged 20 quid a pop. As can be seen from this screen shot, the SYSTEM actually does this automatically, and therefore no human intervention is required. Judging by the watchdog report an average transaction by a human would be less than £2 therefore the SYSTEM will do it in less than one second....under 1p.

 

 

I do one question though:

I have read about claiming back interest all over this forum, and everyone talks about 8%. Surely, if crap one charged me at 29.8% per year, i can claim back 29.8% per year. Is this correct?

This site is doing a great job. There are moderators here who are really helpful, and many of the forum members go out of their way to try and make the process as easy and less intimidating as possible. Thanks guys

[ukaviator]

Hi Banksleuth

 

If they have charged you that amount in APR claim it back per charge. 29.8% is what they have charged you, works both ways. I have seen over 35% in Compounded Interest claimed back here, Cap one as well.

[adamc6671]

Hi Slooth. Noticed exactly the same thing on my partners Cap One 'Interventions' printout, which they sent with her statements, even though we didn't ask for it! Prompted me to put the following in prelim letter -

 

' . . .I note from the ‘Intervention’ printouts that you have kindly supplied me with that all of these charges, with the exception of the 3 ‘Returned Cheque’ amounts, were ‘system generated’ fees, which therefore required no manual intervention. Therefore all you would be lawfully entitled to charge me for would be a few seconds (at most) of computer time. This could be fairly charged at £120 per HOUR, which rate includes hardware, software, setup, and operating costs. This demonstrates that a ‘fair’ charge for each of my defaults would be no more than 20 pence. If you dispute this calculation, please either supply me with the previously requested full breakdown of your costs incurred in managing the defaults upon my account, or pay me the full amount I am claiming. . . .'

On the interest thing, I figured out the point in time when balance would have been zero had it not been for charges, then put all interest ammounts (except for cash withdrawals) after this on the schedule of charges, and applied the stat 8% interest to the interest paid as per Vamp's spreadsheet.

Hope that helps. All the best with your claim!

[banksleuth]

Thanks for that ukaviator. I take it then that when we do the MCOL (I am sure we will need to go this far) I then charge them the statutory 8% on top of all that? In my mind they owe me all the money and the 8% is what I am charging them for keeping my money safely .

I agree with adamc6671 with regards to the 20p charge. Now that sounds like a fair admin charge for an automaton. If you dont mind, I would like to use a slightly edited version of your quote for my next polite letter to crap1.

[adamc6671]

Hi Slooth - by all means feel free to use my quote, either edited or not. Thats what we're all here for - to help each other!