Capital One - Claim Upheld

farcove54

Hello, I would just like a bit of advice if possible.
Like many, my complaint against Cap One made last May was rejected so I went to the FOS. Briefly, I applied for a cc but did not tick the box for PPI , I received a new card 2 years later and was told by Cap One I agreed to PPI when I rang to activate the card. I disputed this, requested call transcripts ( which they could not provide ) and in 2005 when the card was activated I was unemployed. They rejected my claim so in July 2011 I went to the FOS.
The FOS contacted me by phone in Jan this year asking all manner of questions but were very good and informative. I sent them paperwork from the NI stating I paid no contributions during that time. Since then the FOS have contacted me twice just to tell me my claim was being dealt with, this really impressed me. This week they rang and told me my claim was being upheld but Cap One had requested the NI documents which I agreed to. The FOS have given them 2 weeks to reply.
My query is - do Cap One have to abide by the upheld decision by the FOS ? if so, would Cap One pay me any redress direct ?
Thankyou so Much
Kay

misschicken

They could refuse to abide by the FOS's decision. So far you will have been dealing with an adjudicator at the FOS and they've ruled in your favour. If Capital One don't play ball the next step would be for them to ask an actual Ombudsman at the FOS to look at the case again and they will have to set out reasons why they disagree with the adjudicator's decision. If the FOS had turned down your case you would have been able to do the same thing too. Chances are an Ombudsman will also uphold in your favour though - but it would mean waiting a while longer if Capital One do go down that route. Capital One should pay any redress to you directly although they could take their time - the FOS will chase on your behalf if they're taking ages. If you have any debt on the card Capital One may well apply any redress to that first and give you what's left over.

I dealt with a friend's PPI and Capital One in September and they rolled over after the first letter (self employed reasons) and sent a cheque immediately. I have to say I was surprised as they were the one I thought would be the most tricky based on other people's experience of them. I think some of the decision making on this depends on the amount of money involved (whether it's worth them letting it getting to the FOS stage which costs them money) and how deluged they were at the time they received the complaint. The complaints I was putting in in May have been fought much harder than those I put in a few months later. Who knows!

Fingers crossed

farcove54

Miss Chicken
Thanks so much for the quick reply . What you have said has been very helpful. The adjudicator I'm dealing with at the FOS certainly seems determined. I really thought I would get nowhere with them reading other peoples experiences with Cap One. The card has been closed for 2 years but had PPI on it for 5 years so I'm not sure how much is involved as I threw all the statements away.
Lets hope they roll over.
Kay

misschicken

Well the upside is that you'll be getting 8% stat interest racking up on what ever they do owe you until they settle (if there's debt on the card you don't get the 8% but your card is closed, hooray!). So the longer this goes on, the more you'll get.

If they do now agree they may ask you to sign something (via the FOS) saying you'll accept their offer of settlement but without actually saying what the figures are. It's OK to sign this - just make sure that when the money does come through that they've sent a statement showing how they've reached their totals. Also make sure that the interest continues to accrue until they actually issue the refund, it's 'up to the date of settlement' according to the FOS method of redress, not any other date Capital One decide to use. Again the FOS will continue to help you with this if there's any problems and will still deal with Capital One on your behalf.

The refund on my friend's card was spot on and came with a full statement showing all premiums paid and interest, covering roughly the same period of time as you had your card, so they have no excuse not to produce the same in your case if all goes to plan.

farcove54

Thnakyou Miss Chicken, you have been very helpful
Kay