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Capital One and fees over 6 years

champayne
Posts: 9 Forumite
Hi Folks,
I’m hoping you could give me some advice please.
I reclaimed credit charges from Cap One in June 2007; I asked for £1,800 inc interest however they offered £428 which I politely declined. They felt it was justified because “although feel £20 is just fee, we’ve reduced our fees to £12 so that were in line with our competitors” (letter dated Jul 07). Then a further letter from them requesting my signature as it is different from my original application – which it is (dated 6 Aug 07). I wrote again to request the full amount and was fobbed off with “we do not feel that our fees are illegal, they are in line with the fees other banks and financial institutions charges”(dated 10 Aug 07)
So my question here today is should I start the process again from the beginning due to the length of time since the first contact? or what should I do .
Also, to add that my fees start from July 2000 –Dec 2005. They now passed on this debt to DLC, a legal firm it seems.
Thanks a lot for your advice, bit confused as where to start. Please feel free to ask any questions.
Many thanks
I’m hoping you could give me some advice please.
I reclaimed credit charges from Cap One in June 2007; I asked for £1,800 inc interest however they offered £428 which I politely declined. They felt it was justified because “although feel £20 is just fee, we’ve reduced our fees to £12 so that were in line with our competitors” (letter dated Jul 07). Then a further letter from them requesting my signature as it is different from my original application – which it is (dated 6 Aug 07). I wrote again to request the full amount and was fobbed off with “we do not feel that our fees are illegal, they are in line with the fees other banks and financial institutions charges”(dated 10 Aug 07)
So my question here today is should I start the process again from the beginning due to the length of time since the first contact? or what should I do .
Also, to add that my fees start from July 2000 –Dec 2005. They now passed on this debt to DLC, a legal firm it seems.
Thanks a lot for your advice, bit confused as where to start. Please feel free to ask any questions.
Many thanks
0
Comments
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was fobbed off with “we do not feel that our fees are illegal, they are in line with the fees other banks and financial institutions charges”(dated 10 Aug 07)
I wouldnt call that fobbed off. I would call it more common sense.So my question here today is should I start the process again from the beginning due to the length of time since the first contact? or what should I do .
If you dont like their response, you have 6 months to refer it to the FOS. If you do not do that within 6 months, you lose the ability to take it to them. Also, they no longer have to honour their original complaint response (although most will) and they no longer have to deal with any future duplicate complaints.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Capital One always try to pay the difference between the higher fees and the £12 first (a lot of banks do). They said they didn't think they were illegal - did you tell why you think they were? In my case they quoted the OFT report to me saying they had changed their fees to come in line with that so I responded to them saying that OFT report clearly stated that they were saying that the £12 was a fair amount or a genuine pre-estimate of costs and that only a court could decide that. I did not class them as represenative of costs and in the event it did have to court I would be asking for a full breakdown of how the charges were arrived at. I got all charges back at that point.
Regarding the over 6 years issue this can be where they dig their heels in, I quoted s32 of the Limitations Act although in the end they decided not to defend that part in court (this was with another bank, not Cap1).0 -
Thanks Dunstonh, I appreciate you advice unfortunately i'm not sure about what you're saying my options are if any. Would you mind clarifying what you've mentioned above?
Thanks podperson, would you mind writing what you exactly mentioned about the £12 fair amount sentence and the s32 of the limitations act please?
thanks for the responses0
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