Jump to content


Capital One - I think i've won ??


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 5244 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Story so far;

SAR 19/1

Prelim 3/3

LBA 17/3

Court Claim started 10/4

 

My claim is for 2705.16 (being 1020 charges + 782.58 purchase int + 782.58 contractual int). They have today offered to settle for 1922.58 (charges + reduced purch int + 8% stat int + an extra 50 odd quid) saying that my int calc is too high (they say 424.72) and they dont recognise contractual claims. They also offer to remove my default and say they have repais my card in full with the refund.

 

I'm very tempted to accept - does anyone have any views ? Also can I claim wasted costs order given that they settled early in the process ?

 

Cheers

All comments are my personal views - if in doubt then seek professional advice. If you think i've helped then please tip my scales.

Link to post
Share on other sites

Well sounds good to me, you have effectively got the amount you would have got had you just claimed charges and contractual. I don't know of anyone who has pushed for both successfully. We do know though that they do pay contractual claims, there were 2 cap one contractual claims yesterday where they have offered full amount. At the end of the day it's your claim so your decision, I am still battling on just to get contractual, depends if you want to fight. Let us know your decision.

Link to post
Share on other sites

fight, fight;) , have they ever let you off anything???

sorry thats just me being stubborn, if YOUR happy, then thats all that counts:)

OK I GIVE IN

 

Halifax £3600 charges, won with C/I £6400

 

NatWest S.A.R-05/06/06

Bug**r all recieved 03/11/06

Prelim guesimate sent for £3000 03/11/06

Cr*p one CONNED statements 08/06 ROFLMAO

Cr*p one charges=£976

con int 34.9% £1,003.75 £1,979.75.

 

Link to post
Share on other sites

Thanks guys, their calculation of purchase interest is miles lower than mine and they claim that they dont know what contractual interest actually is so I've written a letter clarifying what I'm asking for and seeking to negotiate a little bit more out of them - would be interested in your views (ps: i've changed the amounts a bit to make it less identifiable to cap one);

 

Thank you for your letter of 9th May regarding the above claim.

The basis of my claim is detailed clearly and concisely in my Particulars of Claim lodged previously with xxxxxx Court. The two types of interest in my claim comprise;

- Purchase Interest of £xxxxxx. This is the interest you have charged me on the fees since they were applied to my account. I have calculated the interest on a compound basis at the rate charged to me of 16.7%.

- Contractual Interest of £xxxxxx. As you have taken the unlawful charges plus purchase interest from my account, I have been unable to use the relevant funds to repay borrowing elsewhere. I therefore strongly believe that I am entitled to claim Contractual Interest under the legal concept of Reciprocity. For my claim I have calculated the Contractual Interest on the same basis as my purchase interest claim.

Your offer to settle at £1900 is not a “full refund” as stated in your letter. However, to avoid wasting further court time I can confirm that I would be prepared to settle the claim on the following basis;

- £1,000.00 charges

- £ 800.00 purchase interest (increase reflects time elapsed since submission of claim)

- £ 300.00 statutory 8% court interest

- £ 100.00 court fees

- £2,200.00 TOTAL

I assume that you have paid xxxxxx to fully repay my cap one account as stated in your letter. To settle the claim I therefore require you to send me a cheque for £300 within the next 14 days. I look forward to hearing from you in early course.

 

 

Yours faithfully,

All comments are my personal views - if in doubt then seek professional advice. If you think i've helped then please tip my scales.

Link to post
Share on other sites

Thank you for your letter of 9th May regarding the above claim.

The basis of my claim is detailed clearly and concisely in my Particulars of Claim lodged previously with xxxxxx Court. The two types of interest in my claim comprise;

- Purchase Interest of £xxxxxx. This is the interest you have charged me on the fees since they were applied to my account. I have calculated the interest on a compound basis at the rate charged to me of 16.7%.

- Contractual Interest of £xxxxxx. As you have taken the unlawful charges plus purchase interest from my account, I have been unable to use the relevant funds to repay borrowing elsewhere. I therefore strongly believe that I am entitled to claim Contractual Interest under the legal concept of Reciprocity.

The Claimant contends that the taking of unlawful penalties from the Claimant’s Account is unauthorised borrowing by the Defendant. Therefore, under the principle of mutuality and reciprocity in the contract between the Claimant and the Defendant, in the first instance the Claimant has calculated contractual interest charged by the defendant, being xx.x%.

i maintain that my entitlement stems from the fact 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.

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''. The claiment maintains that;-

a; Defendant charges interest to the Claimant, via the Account, at its published "unauthorised borrowing rate" of xx.x%. The Defendant claims that it is entitled to charge this rate, by virtue of the Terms & Conditions.

b; The unauthorised borrowing rate is charged to the Claimant, via the Account, when the Claimant draws money from the Account whilst she hasn't obtained permission from the Defendant for exceeding any overdraft limit that she has. It is in effect, a rate that the Defendant charges the Claimant when she draws funds from the Defendant when she has no right for doing so.

c; Using, that reasoning and maintaining the principal of equity, mutuality and reciprocity between the parties, the Claimant contends that she is entitled to an equal rate of interest in this case. The Claimant notes in particular that the Defendant erred in law. had no legal right to levy the charges to the Account and refused to refund the Charges when asked to do so by the Claimant.

d; If the Terms and Conditions form part of contract between the parties hereto then there is an implied and/or imposed term of contract that the Defendant must pay the Claimant at the same rate of interest which it reserves for itself, in similar circumstances. If no express contract exists between the parties hereto then the Claimant contends that an implied and/or imposed contract exists between the parties hereto relating solely to the Claimant’s right to charge interest to the Defendant at the rate which it reserves for itself in relation to similar circumstances.

For my claim I have calculated the Contractual Interest on the same basis as my purchase interest claim.

Your offer to settle at £1900 is not a “full refund” as stated in your letter. However, to avoid wasting further court time I can confirm that I would be prepared to settle the claim on the following basis;

- £1,000.00 charges

- £ 800.00 purchase interest (increase reflects time elapsed since submission of claim)

- £ 300.00 statutory 8% court interest

- £ 100.00 court fees

- £2,200.00 TOTAL

I have now received your cheque for £xxxx and I assume that you have paid xxxxxx to my account. To settle the claim I therefore require you to send me a further cheque for £300 within the next 14 days. I look forward to hearing from you in early course.

i've added a bit [hope you don't mind] which i've taken this from one of my old claims [which i won] so you'll have to play around with it a bit to fit your needs. i know it's a bit longwinded but it clearly shows that you know what your talking about, and that your serious.

hope this helps :D

OK I GIVE IN

 

Halifax £3600 charges, won with C/I £6400

 

NatWest S.A.R-05/06/06

Bug**r all recieved 03/11/06

Prelim guesimate sent for £3000 03/11/06

Cr*p one CONNED statements 08/06 ROFLMAO

Cr*p one charges=£976

con int 34.9% £1,003.75 £1,979.75.

 

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...