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Help needed - Capital One Default Charges
akashi
Posts: 93 Forumite
I am trying to claim back default charges from Capital One on a previous account I had with them, which was closed off in 2006.
I sent them a cheque of £10.00 and they posted my statements.
24/09/2008 - I wrote to them asking them to refund me all my charges using Martin's template letter. Charges: £298.00, Interest: £125.53, Total: £423.53
02/10/2008 - I received a letter from Capital One stating the account cannot be found and that I gave them the wrong account number!
15/10/2008 - I wrote to Capital One with a photocopy of a letter I received from them for defaulting in 2004 on the account in question! This letter had the account number printed on it.
23/10/2008 -Capital One wrote to me offering me the difference between my charges and the £12 and worked it out to £133 (out of £298) They also mention they are offering £10 as a 'goodwill' They were offering me £144 and not £423.53 that I was asking.
29/10/2008 - I wrote to Capital One declining their offer of £144 and that I would like the full amount of £423.53 I also mentioned taking this to court if they did not resolve this.
06/11/2008 - Capital One wrote back saying they were sorry that I did not accept their offer and that the offer of £144 was still available should I wish to take it. They will NOT be increasing this offer, it is their FINAL offer!
They mention their default sums are "both fair and legal" They go further on to say the OFT hasn't instructed them to refund any default sums.
The letter ends by explaining to me how I have 6 months to complain to the Financial Ombudsman Service!
Any help will be greatly appreciated. Should I go to the Financial Ombudsman or should I go to MCOL now?
Many thanks in advance.
I sent them a cheque of £10.00 and they posted my statements.
24/09/2008 - I wrote to them asking them to refund me all my charges using Martin's template letter. Charges: £298.00, Interest: £125.53, Total: £423.53
02/10/2008 - I received a letter from Capital One stating the account cannot be found and that I gave them the wrong account number!
15/10/2008 - I wrote to Capital One with a photocopy of a letter I received from them for defaulting in 2004 on the account in question! This letter had the account number printed on it.
23/10/2008 -Capital One wrote to me offering me the difference between my charges and the £12 and worked it out to £133 (out of £298) They also mention they are offering £10 as a 'goodwill' They were offering me £144 and not £423.53 that I was asking.
29/10/2008 - I wrote to Capital One declining their offer of £144 and that I would like the full amount of £423.53 I also mentioned taking this to court if they did not resolve this.
06/11/2008 - Capital One wrote back saying they were sorry that I did not accept their offer and that the offer of £144 was still available should I wish to take it. They will NOT be increasing this offer, it is their FINAL offer!
They mention their default sums are "both fair and legal" They go further on to say the OFT hasn't instructed them to refund any default sums.
The letter ends by explaining to me how I have 6 months to complain to the Financial Ombudsman Service!
Any help will be greatly appreciated. Should I go to the Financial Ombudsman or should I go to MCOL now?
Many thanks in advance.
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Be responsible with your money and avoid the misery
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Be responsible with your money and avoid the misery
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0
Comments
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Hi
I had the same problem with cap 1 and i ended up taking them to court with mcol. They defended the claim and then i rec'd a letter saying they were going to refund all the charges plus interest. I would go for it and as soon they defend the claim you have won. They then write back to the court defending the claim as its paid back in full even the £35.00 its costs for mcol.
Good luck0 -
Go to financial ombudsman I got all mine back within about 3 months! Defo do NOT givve up!! !
xxMortgage free wannabe! No idea on date yet! £132,350 TBC
Loan paying off May 2022 £70000 -
Thanks to you both for your input.
I have decided to go to the Financial Ombudsman as recommended by Martin. I used his template letter and have sent it off today.
Hope to receive all my money soon!
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Be responsible with your money and avoid the misery
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Update: Financial Ombudsman Service
10/11/2008 - Wrote to FOS using Martin's template letter.
17/11/2008 - Received acknowledgement letter from FOS.
21/11/2008 - Received letter from FOS telling me they wrote to Capital One for further information. Once they got a reply they would passed this onto one of their adjudicators.
05/12/2008 - FOS wrote to me saying that Capital One is saying it's charges are fair and has not made a full offer! FOS will now investigate the matter in more depth.-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*
Be responsible with your money and avoid the misery
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Update: Financial Ombudsman Service
15/12/2008 - FOS wrote stating that Capital One is still saying their charges are fair. FOS were going to start a "Formal Investigation" but Capital One offered £298.00 plus £34.76 in interest (total of £332.76)
Capital One told FOS that the amount they offered (£298.00) represents a full refund of charges. This is correct as the charges did total upto £298.00
However, I calculated the interest (using this sites calculator) to total to £125.53 Capital One offered only £34.76 calling it "Provision for interest"
I am missing £90.77 in interest, should/could I claim this?
Any input would be greatly appreciated. Thanks.-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*
Be responsible with your money and avoid the misery
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