Capital One

pigsmightfly

SusieWinwood wrote: »

Cheers for that!

Can I be really cheeky and ask where you got a rejection letter from? - I've looked all over but to no avail. I know what I want to write but not sure how!

Thanks

Susie

Hi Susie,

I was due to send them the "threaten court letter" so I just changed the first paragraph and put in thanks for your offer of £XXX...will accept as part payment...intend to go to court...etc.

Good luck

kashie

Hello,

I sent off for my Cap1 Statements a few weeks ago. Today I had this response:

'Thank you for writing to us about the fees we've added to your account. I understand you'd like us to refund the fees we've charged, as you don't believe they reflect our costs. I'm sorry you feel we've treated you unfairly.

Below is a list of all the fees added to your account as requested.

Late payment fees:

September 2001 - £18........Etc


Overlimit fees:

September 2001 - £18........Etc

Totalling £1094. (This is me writing in red)


To explain, we automatically added late payment fees if your payment was missed, arrived late or wasn't enough to cover your minimum payment. We added overlimit fees i your balance went over your agreed limit which was £XXX.

When we opend your account in December 1999, we sent you a credit agreement which clearly explained these fees. By signing and returning this to us, you agreed to the terms and conditions for the account, including the fees.

As you're probably aware the Office of Fair Trading has challenged the level of bank default fees. Although we feel £20 is a just fee, we've reduced our fees to £12 so that we're in line with our competitors. I appreciate that you've incurred previous charges at a higher rate, and would like to address this.

I've reviewed your account and, as a gesture of goodwill, i'd like to offer to reduce the fees we've charged to £12 each. This amount totals £402. If you'd like to accept this offer, please sign and return the settlement form I've included. Once I get it back I'll add these refunds to your account and notify the agency who's looking after your account the new balance.

I hope I've explained things clearly, but if you do have other questions, please write to me again. You'll find my address in the leaflet I've included, which also explains our complaints procedure. If I don't hear from you within four weeks, I'll consider the matter closed.

Yours sincerely

Executive Office Manager.'

Obviously I do not intend to accept this offer, but I have no proof of statements as I requested and no concrete dates that I can work out my daily 8% interest charge.

What so you recommend that I do????

I only requested my statements.


Also, I recently submitted a claim to the courts for a cap1 account of my husbands and used martin's interest calculator for charges but what I didn't realise at the time was that I need to calculate the rate of interest according to the Apr of the credit card company.

What should I have done and how do I know what the interest rate is when I do not have the card any more???

Twinkly

kashie wrote: »

Obviously I do not intend to accept this offer, but I have no proof of statements as I requested and no concrete dates that I can work out my daily 8% interest charge.

What so you recommend that I do????

I only requested my statements........


........Also, I recently submitted a claim to the courts for a cap1 account of my husbands and used martin's interest calculator for charges but what I didn't realise at the time was that I need to calculate the rate of interest according to the Apr of the credit card company.

What should I have done and how do I know what the interest rate is when I do not have the card any more???

You could:
Write back accepting the £402 without prejudice in partial settlement of what is to be a full claim on receipt of the 6 years data you originally requested under the DPA. Reiterate that you do require them and that they have 40 days from the date of your original letter requesting them to supply this information. They have pre-empted your intent to claim all fees and are attempting to settle early which is fine but has the effect of delaying your full claim unfortunately.

As to calculating interest at the APR of the card I do not know how/why this is the way to do this ? As far as I am aware you claim interest calculated at 8% from the date of the relevant charge. Could I ask where this information came from ? If this is right I may need to do this myself, thanks

thepcsaysno

Hi I sent for my statement & duly recieved them FOC. I sent my first letter claiming £1039 & recieved a goodwill gesture letter identical to yours for the amount of £326. What they did was take all my £20 charges & knocked them down to £12 as the financial onbusmen asked them to do. I sent a rejection letter. I recieved a response today stating that they will not higher their offer as they believe this is a fair amount.
I to don't really know which way to go now as they don't give that long before their offer expires.
On another note they completly knackered my credit file with their unlawfull charges could I get this information removed????
Kind Regards
THEPCSAYSNO

kashie

Thanks for your response, however, it will be worth taking your claim further. I have found out today that you can charge contractual interest for the charges that they have given you and this will nearly double the amount that they owe you.

I am however confused as to how to work this all out as they say you need to know the APR they were charging you on the card for the dates of the charges made. (IF that makes sense?)

Take them all the way, my claim is totalling £1094 with contractual interest this will be alot more, and they offered me a mere £402. NO CHANCE.

saintly_2

yeah that looks fine and diddly!!

mo1_2

how on earth would you work out contractual interest?

thepcsaysno

Hi again. my claim is for £1039.89 inc interest at 8% apr, I sent downloaded the rejection letter from this site stating that I would accept the sum only in part settlement and that I would take the rest to court. This how the reply to the rejection letter read.

ACC No 5460**********10

Thank you for writing back to me about my offer to refund £326 of the fees
we've added. I'm sorry to hear that you feel my offer is unacceptable.

As I have already explained, we'er confident our fees are both fair and legal and I'm dissapoited to hear that you are considering court action. The OFT haven't told us that we're obliged to refund any fees, and we've offered refunds as a gesture of goodwill. I'm afraid I won't be refunding all of the fees as you've asked.

This offer is open to you. I won't be increasing this, as it is my final offer. I've included another settlement form for you to sign and return if you decide you want to accept this. While you are disputing these fees, it is important that you maintain payments as your account balance consists of transactions that you have made. Failure to do this may result in negative information being recorded on your credit file, which may affect your ability to gain credit in the future.

Financial regulations require me to advise you that this is my final response in relation to this matter. However, you now have the option to contact the Financial Ombusmen Service within six months from the date of this letter.
Their contact details are in our complaints leaflet, which I included with my last letter.



So where do I go from here???
Regards
thepcsaysno

mo1_2

I would fill in a small claims form,have a look at Bank Action Group webpage

Twinkly

kashie wrote: »

I am however confused as to how to work this all out as they say you need to know the APR ...

Who is 'they' ? I did ask when answering your previous post, which I have no idea if you saw or not.

Whoops sorry kashie I didnt notice the private message regarding this, thanks for that