Capital One

Watski

charmed85 wrote: »

I know you have all heard this story for yourself, but I just want to make sure im looking at the right advice for me.

I got a Capital One card back in Jun 05 (i think) whilst I was a student, they gave me a limit of 200. I was keeping on top with payments through out the summer then went back to uni to my final year. I had to leave the flat i was in as it was costing too much as i had to do less hours at work to keep on top of my final year studies and dissy. I forgot about the payments, i had missed payment charges, late payment charges and charges for being over my limit, it all added up and couldnt affort to even give them a fiver, I had other things on my mind and was getting treatment for depression and in the October of that same year was involved in a car crash, which i had to then fork out money to get my car repaid so i could go back to work ASAP. I had previously asked cap one to stop interest and charges because of what was happening, they told me to ring this and that number, being in the state i was in, didnt really want to console on the matter and tried to put it to the back of my mind reckoning it would just dissappear!

After graduating in July last year, my bank extended my OD as i was now a graduate. I paid 200 into the account (which was standing at 400ish). But I have since moved house twice and in the cufuffle have forgotten to change my address with cap one, now living with my parents again, i dont want the burdon of my debts with cap one affecting their credit rating, so im not sure what to do there (if anyone could help that would be grand) but now im in a settled job, and im wanting to start getting back on top of things.

Im really worried about persuing this, all the payments have added up, its just rediculus i just want this off my mind. They are now consintly harrasing me calling me up to three times per day, and i dont want to talk to them without some advice, i dont need to get into the state of depression again, im just getting back on my feet.

Can anyone help?

To me it sounds like there are 3 things here:

1) Your address - I really dont know much about credit ratings and addresses so cant really give you much advice there. Although you will need to receive information from them in writing so it might be better to alert them to your change of address and take things from there.

2) The debt on your credit card. Firstly, I guess it's important to bear in mind that the debt on your card wont go away and the phone calls and letters wont stop. So the sooner you do something about it the better it will be in the long run, because as soon as the Capital One phonecalls stop then the debt collection ones will start.

If it were me I'd answer one of the calls, tell them of your address change and then ask them to send you a statement of the current situation on your account so you can assess what the situation is, then tell them once you've got their letter and assessed it that you will write back to them with a payment proposal. They will probably ask you to pay something at that time, so I'd pay what you can afford - dont be forced into paying what you cant afford.

When you recieve the letter, write back to them with a payment proposal. Making sure its what you can afford and I guess they will either accept or reject it. But the thing is that you've attempted to do something about it.

3) In the meantime, start work on trying to claim the charges back, I'd treat it as a totally seperate thing to the debt on your card. Look at the reclaiming bank charges article on this site and follow the process. The sooner you start doing it then the sooner you may get something back.

I'm no expert in anything financial, my credit rating is testament to that. But those things are just what I would do myself.

pigsmightfly

Beate wrote: »

I would urge anyone not to discontinue their claim on a mere promise from a bank to pay out.

I definately agree with you here.

Don't cancel any claims until you have received the cheque/had the money paid into your account, etc.

We know what the banks can be like :rolleyes:

203ivy

can anyone tell me if Capital Bank and Capital One are the same bank??
My son had loads of unfair charges when he had a Capital Bank loan some years ago and I would like to try to claim on his behalf - If they are different Banks can anyone give a contact No. for Capital Bank - son has now NO account details so not sure how o go about claiming when the information I have is just his Name and Address!!! any advice please

consnmattsmom

I have now received a letter like lots of others where they will issue a cheque for my total claim within next 14 days.

I have just checked out MCOL and they have also issued a defence to the whole claim!!

Do I now just sit and wait? Has anyone thats been promised a cheque actually received one?

cloth_ears_2

me and capital one:
They offered partial payment
I refused to accept and sent LBA
They now write to me saying they wont be refunding any more and they won't be increasing their offer!This is their final response they say!
They look forward to receiving my signed settlement form "so we can put this behind us and save valuable court time"
I had to laugh!!!!!!!!!!
Never received settlement form with this or previous letter from them so I can't sign it- WHAT A SHAME I'LL JUST START COURT PROCEEDINGS INSTEAD AND THEN WE CAN PUT THIS ALL BEHIND US WHEN I WIN CHARGES +INTEREST +COSTS!!!!!!!!!!!!!!!!!!!!!!!!!!

marathon03

Good evening everybody !!

Would you be able to assist me in the above. I submitted 14 days ago a refund to Capital One £252 This monring I received an offer of £72 which they have advised is the difference between the £20 they were charging and the £12 they now charge. Capital One have advised they will close the matter if i do not reply within 4 weeks and have allready credited my account (which coincidentally I no longer use) with the £72. My question is .. should I proceed with court action as it would appear from reading other posts that the courts are speeding up the process due to banks etc not turning up and defending or should i accept this offer as there is weight behind the fact that the OFT have advised that £ 12 is a reasonable amount?

Has anyone else had similar experience with Capital One ?

nickmack

marathon03 wrote: »

My question is .. should I proceed with court action as it would appear from reading other posts that the courts are speeding up the process due to banks etc not turning up and defending or should i accept this offer as there is weight behind the fact that the OFT have advised that £ 12 is a reasonable amount?

You can file a claim for the rest. They will very likely pay the remainder to you. The £12 level was set by the OFT as a figure they would not take action against the credit card company.

archer5

Hi Can any of these items be claim for from Capital One Credit cards?
Bank Charges : Payment Protection
Bank Charges : Cash Interest Charge
Bank Charges : Late Payment
Bank Charges : Purchase Interest

nickmack

archer5 wrote: »

Hi Can any of these items be claim for from Capital One Credit cards?
Bank Charges : Payment Protection
Bank Charges : Cash Interest Charge
Bank Charges : Late Payment
Bank Charges : Purchase Interest

Bank Charges : Late Payment

archer5

Thank you nickmack but I'm having a hard time locating any 'specific' mention of the above items. Disregard them or include them. I promise you I've surfed... the forums. Even now I'm looking through cap one 'merged'. Great idea to merged.