Chris vs Cap One - Need help with moneyclaim stage

[chris_d]

My claim is for £120.00 plus contractural interest at 24.9%

 

Prelim sent 12 Mar 07

 

Nothing heard from that so.......

 

LBA sent 10 Apr

 

Nothing heard by last friday (27 Apr) so i started Moneyclaim (saved not submitted yet).

 

Out of the blue yesterday, i received a letter from cap one dated 24 Apr thanking me for replying to their offer of £48 (I'm sure i never) sorry you feel that their offer is unacceptable, contact OFT etc etc.

 

Anyway it's too late so i'm continuing with court action via moneyclaim, which is where i'm currently at.

 

I'm stuck with the particulars of the claim. I've used the template from here but i need help with filling in the bit about claiming the interest. Do i claim the 8% and contractural or just contractural only. If the latter, can i use the phrase 'in accordance with section 69 of the county court' still? if not what should i put?

 

Any advice welcome

[katesage]

Chris

 

If you are going to claim contractual interest, do NOT use MCOL.

 

MCOL only gives you a very limited amount of space for POC, adequate for a 'bog standard' claim but not enough for contractual arguments.

 

Go for the N1 hard copy version,

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/681-4-particulars-claim-n1.html

 

then have a scout around for threads with info on contractual interest, there are quite a few examples of POC for Contractual floating around.

CAG hasnt produced an official CI template as the legal arguments associated are not yet fully developed.

Good luck

[chris_d]

oh...

 

Thats confused things somewhat. I thought MCOL & contractural was a bit more simplified than that.

 

To be honest the charges i am claiming totals to only £120, with contractural interest it's about £150 ish. Can I, at this stage sack the contractural i've been asking for in my prelim and LBA (i've now actually calculated it properly at 18%) and just settle for the 8% instead to save the hassle.

 

I'm working abroad at the moment so it doesnt help either, after a quick result if possible, ie through MCOL.

 

I don't want a measely £48, i want at least the £120 back.

[ukaviator]

Hi Chris d

 

You should do the N1 form if you are claiming Contractual, but as you are abroad i can help. I have successfully claimed Contractual using MCOL. I left out the daily rate to enable the POC to fit. I will PM you the wording.

 

Uk

[chris_d]

Uk - PM received. I'll definitly be using that text and as per my PM, thanks again

 

Final question though:

 

The APR i used initally was a guess as i don't have the statements and at the time i only had the SAR info which wasnt in statement format but, i've now found a statement which states an average of 1.4% for purchases/cash advances giving about 18% APR.

 

Seeing as i used a guesstimate of 24.9% for my prelim and LBA should i continue with this rate or use the 18% figure on the POC on MCOL.

 

Sorry for what may seem dumb questions but i want to get this right in case of court etc

 

Chris

[ukaviator]

I would give them a call and ask what your actual rate is.

[chris_d]

uk

 

one last question. What do i tick on the 'are you claiming interest' question. if yes then a pop up says i need to include the text about sect 69 etc etc

[chris_d]

I would give them a call and ask what your actual rate is.

 

 

just called em too

 

purchases was 18.9%

cash was 22.9%

 

average of both or take the highest one?

[ukaviator]

Average Chris.