Nicolee2931 v Capital One

[nicolee2931]

I hoping someone here can help me with a problem with capital one, I'm in the process of claiming back penalty charges from capital one but there is a twist. I have already claimed from my bank the Halifax so have no problem with the process or getting back what is mine.

I have recently sent my SAR to Capital One on Monday giving the usual 40 days to disclose information on my account. Now the twist, Capital One closed my account many years back as I got made redundant and couldn't pay the balance off or keep the repayments, they sent the debt to a DCA but I refused to pay as most of the debt was made of charges (Late Payment etc), and more recently sent to Court, and now I have a impending visit from the bailiffs but thats another matter on the Bailiff part of the forum. What I would like to know is what can be claimed is it compounded contractual interest or contractual interest, and once I have a figure with either of these interest charges added do I then go on to add the 8% interest figure to the whole balance as it enters the court stage. Also can I claim back the fees from them taking ME to court because of the charges they have levied against my account.

[nicolee2931]

bump.... anyone..?

[Curlyben]

Sounds the same as me.

Have a look here:

http://www.consumeractiongroup.co.uk/forum/capital-one/83965-cb-capone-ci-advice.html

 

Mine was closed back in 2002, but I'm going for it and part is from 2000 for good measure.

[dx100uk]

this is a duplicate thread

you need to pm a mod to get it merged with your other cap1 one.

 

dx100uk:roll:

[nicolee2931]

I was going to do a combined thread but wanted to keep them seperate as I was treating the bailiff issue & charges issue as seperate cases. Thus keeping the advice of people who have been there and done that in their relevant topics.

[nicolee2931]

while I wait getting stuff in order ready for the postman to empty his huge load through my letterbox, cr@p one statements that is, I have managed to pull one statement out of a box of bills the interest rate for purchases only is 1.667% which I work out to 21.94% APR does this sound about right, when applying compounded interest do you base your calculation on 21.94% APR back then or on todays rates which must be a little higher.

[Curlyben]

I'm using todays rate of 29.9%, especially seeing that the APR wasn't on the transaction print outs I got.

Hey we'll see what happens.

[nicolee2931]

Phoned up Cr@p One today and got it straight from the horses mouth, my APR charged at the time I had my account. Now I calculated it to be 21.94%, however Cr@p One say my annual interest rate was 24.93%, or 37.3% for purchases which one out of the two do I use to calculate compounded interest rate at, I know which one I would like to use but I need some advice on this so I can get to work as soon as the statements drop.

[nicolee2931]

sorry to butt in on everyones party, but how is it decided what rate of contractual interest to use, is it the current rate that is being charged on their web site of 34.9%, is it the rate of 24.93% they told me was being charged annually or the rate of 37.3% for purchases?

[ukaviator]

On your statements below the transactions box for the month, you should see Purchase Interest and Cash Interest bottom left. These will be something like 2.024% and 2.005%.. everyone is different, but at least you know what to look for. Once found get the average of those 2 figures. Then pop the figure into this small calculator, bottom left. Your actual APR will be revealed. Don't use that spreadsheet though, as it is for bank charges and not compounded interest.

 

http://www.zen122856.zen.co.uk/CompoundSheet_v1.9.xls

 

Uk

[nicolee2931]

for some reason mine is incredibly low it only states for purchases which is 1.667% which on the calculator comes out to 21.94%, just seems too low although it prob is correct. Any ideas?

[ukaviator]

That is about right.. Some people have a rate nearer 36%. .but their rate is over 2.000%. .

[dx100uk]

37.3% thats high!

i would go for that.

you won't get it, till court.

they will do the usual of adjusting all charges down to £12 and paying you the diff only.

 

hit them with the 37.3%

then IF it gets to filing court papers, then provide an additional spready with the lower rate . then let the judge decided

 

dx100uk;)

[nicolee2931]

okay, I phoned up cr@p one the other night they said my annual rate was 24.93%, but for purchases it was 37.3% yet when I use the rate on my statements I get the 21.94% so now i'm confused on which rate to use, also what do cr@p one pay out, the whole charge of £20.00 or the difference between the £12.00 and the amount actualy charged at the time.

[ukaviator]

Are you able to get confirmation of your interest rate in writing? ..

 

What are your exact figures on the statement?

[nicolee2931]

the amount shown on the statement was 1.667%, I put this into the spready and I got the figure of 21.94%.

[lindylou1974]

Hi Nicole

 

Mine was the same rate on my old statements but i have used the current rate.

 

 

Lindy x

[nicolee2931]

Hi Nicole

 

Mine was the same rate on my old statements but i have used the current rate.

 

 

Lindy x

 

which would be the 34.9% rate? if so thats what i'm going for then, its my money they have got, they've had it for so long now, and the past few months they have caused me hell, i think i deserve 34.9%

[nicolee2931]

i'm watching with interest on this one, I had my S.A.R - (Subject Access Request) request completed today when my statements dropped through the door this morning. The rate cr@p one charged me for purchases was around 21%, I would like to charge the the 34.9%, but cant get my head around the "they borrowed from me" point they just charged me unlawfully, or do the to go hand in hand? Any ideas what template I should send them first for asking for it all back ...

[nicolee2931]

out of interest what rate did you charge was it the 34.9% or the 27.6% as set out in the Particulars of claim (N1)

[thesergeant]

I claimed 27.56% which was the rate they advised me to be chargeable on penalties.

[nicolee2931]

I've added all my stuff on the spreadsheet based of 34.9% which I'll change does this look correct?

 

Nicolee

Capital One

**** **** **** 4499

 

CLAIM DATE: 04/05/2007

CONTRACTURAL INTEREST RATE: 34.90%

TOTAL CLAIM: "£1,344.25"

 

TOTAL AMOUNTS £414.00 £930.25

 

Charge Reason Charge Amount Charge Date Interest

Late Payment Fee £18.00 24/06/2002 £80.18

Overlimit Fee £18.00 25/06/2002 £80.08

Overlimit Fee £18.00 18/07/2002 £77.95

Late Payment Fee £20.00 23/12/2002 £71.67

Overlimit Fee £20.00 24/12/2002 £71.58

Overlimit Fee £20.00 17/01/2003 £69.50

Overlimit Fee £20.00 17/02/2003 £66.89

Late Payment Fee £20.00 22/01/2004 £42.84

Overlimit Fee £20.00 23/02/2004 £40.95

Overlimit Fee £20.00 18/03/2004 £39.57

Late Payment Fee £20.00 24/03/2004 £39.23

Overlimit Fee £20.00 16/04/2004 £37.94

Late Payment Fee £20.00 22/04/2004 £37.61

Overlimit Fee £20.00 17/05/2004 £36.25

Late Payment Fee £20.00 24/05/2004 £35.88

Overlimit Fee £20.00 16/06/2004 £34.66

Late Payment Fee £20.00 22/06/2004 £34.35

Overlimit Fee £20.00 16/07/2004 £33.12

Late Payment Fee £20.00 22/07/2004 £32.81

Overlimit Fee £20.00 16/08/2004 £31.56

Late Payment Fee £20.00 23/08/2004 £31.22

The amounts seem high but must be correct. Any Ideas?

[c_allen]

hi nicolee

the way i see it is, these only 2 options, 1 they've ''borrowed'' your money without your authorisation, or 2 they've ******** it.

i know for certain they'll never admit to option 2, so they must have ''borrowed'' it, the contract that we signed with them give them the right to allow them to charges us the '' contractual unathorised brrowing rate''.

the fact is that our contracts are considered bilateral, as opposed to unilateral.

This is because both parties to the contract have agreed to certain actions in consideration of the others also doing certain actions. This is opposed to a simple unilateral contract, ie, a simple agreement by one party to do something, without any obligation upon the other.

This bilateral standing also makes them mutual.

Unfair terms in comsumer contracts 1999 section 7

''A seller or supplier shall ensure that any written term of a contract is expressed in plain, intelligible language''.

as the utccr states, '' where a contract has not been individually negotiated, the party dealing with the consumer cannot insert advantageous terms into contracts where there is no comparable term in favour of the consumer''.

Unfair terms in comsumer contracts 1999 section 7

If there is doubt about the meaning of a written term, the interpretation which is most favourable to the consumer shall prevail.

and

The county courts act 1984 allows the ''Claimant to claim the s69 judgement rate, currently 8%, if no other interest can be claimed. However in a contract dispute, it is entirely right and proper for the Claimant to base their interest claim around the rate stipulated in the terms of that contract, should such a contract exist''.

so basically i'm saying, if their allowed then we're allowed.

[nicolee2931]

hi nicolee

the way i see it is, these only 2 options, 1 they've ''borrowed'' your money without your authorisation, or 2 they've ******** it.

i know for certain they'll never admit to option 2, so they must have ''borrowed'' it, the contract that we signed with them give them the right to allow them to charges us the '' contractual unathorised brrowing rate''.

the fact is that our contracts are considered bilateral, as opposed to unilateral.

This is because both parties to the contract have agreed to certain actions in consideration of the others also doing certain actions. This is opposed to a simple unilateral contract, ie, a simple agreement by one party to do something, without any obligation upon the other.

This bilateral standing also makes them mutual.

 

Unfair terms in comsumer contracts 1999 section 7

''A seller or supplier shall ensure that any written term of a contract is expressed in plain, intelligible language''.

as the utccr states, '' where a contract has not been individually negotiated, the party dealing with the consumer cannot insert advantageous terms into contracts where there is no comparable term in favour of the consumer''.

Unfair terms in comsumer contracts 1999 section 7

If there is doubt about the meaning of a written term, the interpretation which is most favourable to the consumer shall prevail.

and

The county courts act 1984 allows the ''Claimant to claim the s69 judgement rate, currently 8%, if no other interest can be claimed. However in a contract dispute, it is entirely right and proper for the Claimant to base their interest claim around the rate stipulated in the terms of that contract, should such a contract exist''.

so basically i'm saying, if their allowed then we're allowed.

 

Thanks for that, now I feel a bit better about hitting them for 34.9%, I put my stuff in the spreadsheet last night and this is what I got

 

http://www.consumeractiongroup.co.uk/forum/capital-one/59665-thesergeant-crapitol-1-a-3.html#post793595

 

does it look about right?

[c_allen]

yes it look ok to me:) .

if they offer you any partial payment refuse it, if they credit your account, tell them to remove it, make it clear that you require the full amount only, DON'T SPLIT YOUR CLAIM, keep it whole, they will try to repay your charges, don't let them do this.

ok rant over