shar37-v-cap 1 **WON**

[shar 37]

HI, I wrote to cap 1 on 8th May requesting payment of my charges of £1,036. I received on offer of a goodwill payment for £172 on 19 May. Sent letter back to them on 30 May declining offer but accepting it as part payment on the understanding that I would pursue recovery of the remainder with a County Court claim if necessary bla bla bla.

This morning received this letter stating they feel their fees are both legal and fair and they are dissapointed I was considering court action. That the OFT hadn't told them that they were obliged to refund any fees. They were not prepared to make a full refund and that was their final response to the matter. Is this the standard reply people are getting from them?

When I start court action I will be using my local magistrates court, could someone please tell me what I need to take with me. I would be gratefull for your help. Really need the money back.

[glav]

Hi Shar

 

To date Capital One have only paid out once court claim has been filed. Can I ask what interest you are claiming, compound contractual or the stat 8%. It makes a difference to what form you use to file your claim.

 

glav:)

[shar 37]

Havn't got a clue about the interest, would be very greatfull for your help on that.

[jshtr3]

Hi, You can claim 8% statutory interest when you file a court claim, however, Cap1 will be charging you somewhere between 17 & 34% on the money you have borrowed and the charges you have paid. They "compound" this (charge interest on the interest). You can ask for your charges to be repaid with "compunded contractual interest". In my case charges were £297 and interest £591 when using CCI method. Well worth doing. You need to inform them you are claiming CCI from the start if you choose to do this.

[shar 37]

Hi jshtr3. On the previous letters I have sent cap 1 I asked for my charges back which was a total of £1,036. I stated in the letter that I would start court proceedings to reclaim not only the full amount but also interest and costs. Can I still apply for the interest. If so I would like to claim "compunded contractual interest". But have no idea where to start.

[jshtr3]

Never been told by anyone with knowledge that you can or can't but I took the decision to change my mind on CCI after sending LBA. I Sent another LBA which I ammended and gave 10 days before filing in court. You start by filling in a new spreadsheet. I used the one in vamps chambers "throughout the claim with CCI". Hope that helps

[shar 37]

Sorry to be a pain but where do I find "vamps chambers"? Sorry.

[jshtr3]

Sorry, it's vampiress chambers and it's in the templates library. http://www.consumeractiongroup.co.uk/forum/bank-templates-library/182-6-interest-calculation-spreadsheets.html It's a google spreadsheet so you'll need to register first but it's very simple but any problems just ask.

[shar 37]

I've tried getting to the spreadsheets but can't open them, maybe because my pc is quite old. Any help would be really appreciated. I really need to get this done.

[shar 37]

I haven't a clue what i'm doing. Please help.

[indigoblue]

hi , are u able to see the spreadsheet? if so u need to copy it and then u can input your own info. If not go to google and register for an account. then come back and ill try and help

[shar 37]

no i cant see anything

[shar 37]

Right I found spreadsheet, now where on earth do i start:confused:

[jshtr3]

Hi, OK, when you open the spreadsheet it syas "file" in the top left corner. Click this and select "copy" You will then be prompted to give the spreadsheet a name "Cap1 1" perhaps. Once you click save you should be up and running. Stick at it and you'll get there but any more problems, just ask;)

[shar 37]

Thanx jshtr3. How do I find out about the rate of interest. Sorry if im sounding thick. (I am lol).

[ukaviator]

To work out your APR, on your monthly statement you should have below, the transaction box, your current Purchase interest and cash advance interest. It will be some thing like:

 

Purchase Interest 1.897%

 

Cash Interest 1.976%

 

Add these 2 figures together and divide by 2 to get an average, then type it into this calculator found here:

 

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

 

Do not use the spreadsheet on here, as it's for bank charges only. The calculator is very accurate. If you don't have your APR or % figures, call them asking what it currently is.

 

When you have your APR, type this into your spreadsheet on each charge. It is not uncommen for people to have an APR of 34%...

 

Hope this helps

 

Ukaviator

[shar 37]

Thanx ukaviatar, Im having some help from my daughter so should be done soon then off to the courts with it:)

[shar 37]

Im not sure if Ive used the correct spreadsheet, Ive used number 13 in vampiresses chambers. Is that ok?????

[Cash-Back]

Hi Shar, just to point out on your first post - you said you would go to magistrates court.....no.....this is a civil matter, not a criminal one.....you should take your claim to the County Court.

Best wishes with your claim.

Cash-Back

[shar 37]

Thanx cash-back for that. Would you know if i have used the correct spreadsheet.

[Cash-Back]

Hi Shar - I've only just started my CC claims - sent SAR requests on Monday. Chatted to FendyWeather on here - she was very helpful. emailed me 2 spreadsheets for compound interest....try and find her on here.if you can't send me your email address to [email protected] and I'll forward them to you. Cash

[shar 37]

Hi all. I need to send another LBA I need to say on it that I am going to claim CCI, as I didn't state that on last letter, has anybody got a template I could use please?

[jshtr3]

Hi, This is what I sent after sending prelim and LBA. It's not a template by any means but feel free to use it if you want to.

 

Account Number XXXX XXXX XXXX XXXX

 

I am writing to inform you a change to my request for repayment of penalty charges levied on the above account.

After further research I have reached the conclusion that the amount you have taken from me should be repaid with contractual interest.

Therefore I require that you repay £297.00 in charges plus £591.34 in interest charged at 17.85% Total £888.34. I have attached an updated schedule of the charges to this letter.

I would like to stress that it is in both our interests, and indeed, our responsibility to attempt to avoid court action in this matter. It is with this in mind that I request you supply me with a copy of your actual costs in relation to the penalty charges levied on my account. I will be more than happy to accept the difference between those costs and the amount stated above.

If you do not respond to my letter before 6th June I will assume that you will continue to ignore my requests for payment as you have in the past. In these circumstances I feel I will have no other option but to file a claim in county court on 6th June for the full amount

[shar 37]

Thank you Jshtr3.

[shar 37]

Oh forgot to ask if anybody could give me some help with what to put on N1 form please. I am going to use local county court. I am really greatfull for all the help I am getting of you all.