OFT Debt Collection Guidance (merged)

Hockeyump_2

The OFT issued Debt Collection Guidance for all credit licence holders in July 2003 that can be found at http://www.oft.gov.uk/NR/rdonlyres/50F06527-9FC5-4610-B385-999D6E2A8950/0/oft664.pdf and is an extremely interesting document as it sets out what the OFT consider to be unfair business practices in collecting debts.

Caveat - your account needs to be in default and they need to be chasing you for the money before you can apply this in full

Point 2.8.i appears to give you a free way of getting the information relating to over limit and late payment charges without going down the Data Protection Act route that gives the banks a way of not providing the information.

"2.8.i failing to investigate and/or provide details as appropriate when a debt is queried or disputed, possibly resulting in debtors wrongly being pursued"

The OFT say in the document that they want to hear when the guidance is not being followed and make absolutely clear that that offender's credit licence is at risk if they or their contracted debt collection agency do not follow the guidance.:j :dance:

Hockeyump_2

It worked!:beer:

My account with Capital One is in default. I stopped paying after I had cut up my card when I lost my job and sent it back to them, telling them I could only pay £25 per month which was more than the interest being charged. The over limit and late payment fees kept on being added each month pushing up the total debt and subsequent interest rate until the £25 no longer covered it. I stopped paying to force the account into default and stop the charges.

After finding the Debt Collection Guidance I wrote them a letter telling them the account was in dispute in terms of the Guidance and I required a breakdown of the charges added and the applicable interest rates from the time of the first charge (effectively all my statements. I emphasised that this was NOT a Data Protection Act request and therefore not subject to the £10 fee and was a reasonable dispute in light of the OFT 05 April 2006 notification that fees over £12 would be presumed unfair.

3 weeks later I have got all my statements without having to part with £10 and an offer to reduce all the charges to £12 (which I won't be accepting, but now I know exactly how much I have to pay them down to the last penny and will exclude all late payment charges and the interest applied to them).

Praise where praise is due - well done Capital One for responding quickly and positively to the request and in the manner expected by the OFT.

Now if only Barclaycard did the same.:mad:

amber1975_2

I am desperately hoping that somebody can help me.

I sent a letter to Capital One at the end of November requesting statements for 6 years which were sent to me on 11th December by Special Delivery.

I totalled the amount and of the £700 I still owe them £496 are charges so on 16th December I sent them a letter recorded delivery asking for the charges back.

Have just received a letter from them today saying that on the 12th Dec they sold my account on and that any future letters needs to go to the debt collection company.

Can I carry on with this claim? Not sure what I should do now as debt collection agency want the £700 back.

Any help would be really appreciated.

carolbee

we have two accounts which are now dealt with at the collection centre, which are we paying back over a period of time. this debt stands at about £5000, not checked charges, but all within last 6 years

has anyone claimed charges on these accounts successfully?

I have negotiated to freeze the interest on these accounts, so don't want to jeopardise this.

Edinburghlass_2

Sorry Carol, not sure what you mean by a collection centre? Is this a DMP/IVA as if so there is a thread which may help you.

carolbee

we have set up our own payment plans using the templates by National Debtline, and our accounts have been referred to Brighton, we cant use them as current accounts.

thanks

Edinburghlass_2

ah right, I think I'll merge you with the thread about DMP/IVA as the answers there might help.

Tony_Soprano

Ive received my historical statements from an American Express credit card I used to have, and have strted to list the charges they put on me.
Can I claim back the 'late payment fees', typically £15?
Also, theres was an 'Outside Agency fee' of nearly £400 debited. I got into a bit of trouble and they had a debt collection chase me for the balance - can I add this to the claim sheet?
I managed to clear the account and subsequently close the account.
Any advice would be appreciated.

louisexmorganx

hiya,

im new to all this and need a bit of help before i attempt to re-claim my back charges!

what it is, is i have been charged so many time since 6 years ago, on an over draft i kept going over, im not with that bank anymore and have moved my cash, but the overdraft dept is with a dept collection agency as the charges mounted up so much i couldnt afford to pay it back! can i still claim? or would the bank tell me the dept is not with them anymore and there is nothing they can do?

louise

carrie-anne_5

Im not sure about the overdraft but u would most likely get back the charges from the past.

Edinburghlass_2

I've merged a few threads on this topic, please also read this thread...

http://forums.moneysavingexpert.com/showthread.html?t=306355