Capital One Settlement

jos004

I recently applied for a refund of my credit card charges, from Capital One. I received a Complaint Settlement Form from them, on 6th June 2009.

Does anybody know, if this form is the same as a Compromise Agreement form? They've offered to pay the debt collection company, to whom they passed on my debt. I don't mind if they pay the debt collection company.

If I refuse to sign this form, will Capital One renege on the payment? I made it specifically clear, I was reclaiming, credit card charges. I have 6 months to sign this form.

I'm about to claim back my PPI charges from them but do not want them to tell me, because I signed the Complaint Settlement Form, I can't claim back the PPI charges.

Thanks in advance to this wonderful website and its contributors.

jos004

jos004 wrote: »

I recently applied for a refund of my credit card charges, from Capital One. I received a Complaint Settlement Form from them, on 6th June 2009.

Does anybody know, if this form is the same as a Compromise Agreement form? They've offered to pay the debt collection company, to whom they passed on my debt. I don't mind if they pay the debt collection company.

If I refuse to sign this form, will Capital One renege on the payment? I made it specifically clear, I was reclaiming, credit card charges. I have 6 months to sign this form.

I'm about to claim back my PPI charges from them but do not want them to tell me, because I signed the Complaint Settlement Form, I can't claim back the PPI charges.

Thanks in advance to this wonderful website and its contributors.

Can anybody advise me on this? Many thanks.

natweststaffmember

jos004 wrote: »

Can anybody advise me on this? Many thanks.

What is the wording of the form?
How much is owed and how much have they offered?

jos004

natweststaffmember wrote: »

What is the wording of the form?
How much is owed and how much have they offered?

Amount claimed £184.
Amount offered £210.

I'll update this post again when I get home this evening.

natweststaffmember

Have you agreed to the amount and if not is the amount offered the difference between the old amount and the amount that they have decided that they can get away with, ie £12?

jos004

natweststaffmember wrote: »

Have you agreed to the amount and if not is the amount offered the difference between the old amount and the amount that they have decided that they can get away with, ie £12?

Thanks for the speedy reply. I have not signed the form yet. Having followed advice on this website, I re-claimed the difference between the old amount charged by Cap One ie. £20 and the amount suggested by the OFT ie. £12. I claimed £8 pounds for each late payment, going over my limit, and returned cheques.

No wonder I got a quick reply/offer, from them.

natweststaffmember

jos004 wrote: »

Thanks for the speedy reply. I have not signed the form yet. Having followed advice on this website, I re-claimed the difference between the old amount charged by Cap One ie. £20 and the amount suggested by the OFT ie. £12. I claimed £8 pounds for each late payment, going over my limit, and returned cheques.

No wonder I got a quick reply/offer, from them.

Do you know that I am not a fan of accepting anything but 100% of the claim because the OFT limit is not the fair or legal amount that they can charge.
OFT842 is the report
and part 1.14 tells you the legal basis to claim and also that only a court can decide a legal amount. Please have a think about your claim and think about whether you want less than 100% of what you are entitled to.

jos004

natweststaffmember wrote: »

What is the wording of the form?
How much is owed and how much have they offered?

The exact wording is:

" I confirm my acceptance of Capital One's offer to refund 210 pounds. This action by Capital One is accepted by me as closure of my complaint.

This fee refund offer is valid for 6 months from the date on this letter. If we do not receive it back within this timeframe your refund will be re-calculated. This may result in you receiving a lower settlement amount ".

At the bottom of the form, it reads:-

Capital One Confidential/Proprietary

I don't mind accepting the lower amount; although you are right natweststaffmember, that I should re-claim the full amount; but if Cap One cause me to complain to the FOS re: my claim for PPI - I'll refer to the fact, that I accepted the lower amount, in lieu of my credit card charges, reclaim. Basically, I followed the advice of the OFT.

Hailz86

PPI Claim would be a different complaint, so I think you should be ok to sign it. Congrats on the offer x

jos004

Hailz86 wrote: »

PPI Claim would be a different complaint, so I think you should be ok to sign it. Congrats on the offer x

Signed and posted it back, Tuesday 16th June.
Now for the PPI re-claim.