Credit Card Reclaiming Discussion

katyward

My husband had a credit card with monument a few years ago. Due to financial problems we never paid the outstanding sum, his limit was probably at most £500 but we have just had a letter from a debt agency wanting £2506! He never kept his statements as at the time he binned all letters and buried his head in the sand. Do you think we could get the charges reduced and do you think we could still get copies of his statements?? Any help appreciated Kate

joncow75

Premier wrote: »

The FOS will not consider a complaint until at least 8 weeks have expired since you first advised the company of your complaint (as you obviously don't have a deadlock letter)

Even then, the FOS will probably give a good 4 weeks for the company to respond to them.

So probably best to just await a response direct from the company within the next 4 weeks

Hi Premier, many thanks for the feedback. I'll sit tight and see what they say. The original complaint was placed 18th June so taking into account them putting onto system on the 21st, 8 weeks would be 23rd August. Giving some leeway then 4 weeks from the date of letter should be ok.

Lond2009

Hi,

Hope this is ok to post here - Can someone offer some advice please as I am new to this? I have over £250 in late fee charges (£12 and £25 fees) when I was with Halifax Credit card (now with Virgin) going back as far as 2004. I still have all the statements, so do I send the original statements with the letter? I don’t plan to ask for the interest but I was going to ask for the difference but as they are mainly £12 fees I can’t do this. What should I do - is it worth it. Also can I claim from Jan – July 2004?

Many thanks,

Premier_2

katyward wrote: »

My husband had a credit card with monument a few years ago. Due to financial problems we never paid the outstanding sum, his limit was probably at most £500 but we have just had a letter from a debt agency wanting £2506! He never kept his statements as at the time he binned all letters and buried his head in the sand. Do you think we could get the charges reduced and do you think we could still get copies of his statements?? Any help appreciated Kate

You can probably get copies of the statements if that is what you want. Be aware that the company will probably charge about £5 - £10 per copy statement.

Perhaps a list of transaction charges may be better for a one off fee of £10 (see the article for details)

But I would start by simply asking whoever is demanding the money for a breakdown in charges.

I doubt there's much chance of getting the charges reduced (unless they are the type referred to in the article), but it never hurts to try and negotiate. Good luck!

Premier_2

Lond2009 wrote: »

Hi,

Hope this is ok to post here - Can someone offer some advice please as I am new to this? I have over £250 in late fee charges (£12 and £25 fees) when I was with Halifax Credit card (now with Virgin) going back as far as 2004. I still have all the statements, so do I send the original statements with the letter? I don’t plan to ask for the interest but I was going to ask for the difference but as they are mainly £12 fees I can’t do this. What should I do - is it worth it. Also can I claim from Jan – July 2004?

Many thanks,

Refer to the article on what charges can be reclaimed.
Why are you not planning to ask for the interest on any charges you can reclaim?
Don't send the original statements; copy them and send them the copy.

Lond2009

Thanks, i thought its best to not ask for the intereset? Article says if you prefer to play safe ask for the charges without interest?

FatMartinR

Lond2009 wrote: »

Thanks, i thought its best to not ask for the intereset? Article says if you prefer to play safe ask for the charges without interest?

Not only would I ask for the 8% statutory interest, I'd also ask for repayment of the credit card interest on the fees that have accrued over the years. That could double or triple your pay-back !!

podperson

Hi Lond,

When I have applied for mine I just sent a spreadsheet with a list of the charges I was claiming. Include the date of charge, how much and what they are saying it's for, ie late payment fee, they will be able to check them on their system anyway. Ask for the full amount for both the £12 charges and the higher ones and add the interest on. They will generally come back and offer you a partial settlement or the difference between the £12 and the higher rate and then you can decide whether you want to accept that or push for more from them.

Lond2009

thx for info, but will asking for interest increase my chances of having to go to court?

podperson

It depends on whether you really want to push for it. I asked for the interest at the contractual rate (what they charged me on it!) and 2 of them have come back and offered me the statutory rate of 8% instead. I'm quite pig-headed so sent them back and asked for the contractual and one has come back within a week and offered me £200 towards the contractual as a 'goodwill gesture' which I have accepted as it should clear my balance off. If I had really wanted the full amount of contractual interest then yes I probably would have had to take them to court.
It also depends on what you still owe them as if they can just take the refunded charges off your balance they are much likelier to just pay up rather then bother with court as they aren't having to pay anything back, it is just going back into their company.