Hi guys, I am after some advice about the loans2go company. I took out a loan and surrendered my log book in about may or june this year. The amount i borrowed was £400, I paid the first 2 or 3 months which was around £50 and them ran into some difficulties and could no longer pay. I went about 3 months without paying and they sent me a default notice which nealrly made me fall over - it was for something like £1200. I phoned them and pleaded my case that I could never afford to pay that amount back and they agreed to waive the additional charges in exchange for a £100 a month arrangement. I left my debit card details for them to take the monies on my payday each month. It appears that in the 2nd month of the new arrangement there wasn't sufficient funds on my card and so instead of ringing me to tell me they couldnt process the payment they just marked it down as a default - I didnt find out until the payday after that they hadnt collected the previous month - I rushed to the store immediately giving them £200 in cash explaining that had they rang me to tell me the payment had been declined I would have took the cash straight to the store. They explained that it was not their job to inform me and that all the default charges would go back on, after alot of pleading the lady agreed to take nearly £400 off. I have today rang to arrange my card payment for tomorrow and enquired about my balance, i was astonished to hear that I still owe them £520.00 (with £40 interest being added every month) - I have paid £610.00 up to now meaning I will end up repaying £1470.00 on an initial loan of £400.00 by the time my 8 months of extra interest are added. Is there anything I can do about this? I literally cant afford to give them that much money, truth be told I was half expecting them to tell me that next month or the month after would be my last payment, I'm absolutely gutted. This may be of no significance but my log book is mistakenly registered to Mrs ben marshall instead of Mr (I think the firm I bought the car off ticked the wrong box) I have even considered paying for a new log book and trading the car in but I don't know if they have put some charge on the car like people can on a mortgage Thanks in advance... Ben.

just getting around to posting my prelim letter for this account off now, have used spreadsheet: throughout claim with compounded contractual interest (simple version) and have just one quick question. I phoned cap one to check the interest rate that was applied to my account, the woman told me it was 2.33% monthly, or 31.86% annually. Is it the annual figure i put in the interest rate column in the spreadsheet? I hope so as this almost doubles the claim and puts the figure over and above what i actually owe them by about £200! would you guys reccomend offering settlement as account closure with no further monies owed?!?!

no thats what i was asking, i have seen a draughted letter to say as much, i just cant find it!

*bump* anyone got this letter to hand?? or a link?? lookin to get it in tonights post!

Can someone point me in the right direction of a wont discuss payment and you cant default me as im disputing balance template letter please, i know ive seen one somewhere but cant seem to find it. Thanks guys, PS im £4200 better off after only a prelim letter to natwest, hopefully cap one are just as easy

Update: I WON!!!!!!!!!!!!!!!!!!!!!!!!!! full and final settlement offer of £4175 before i even sent my LBA!!! thanks alot guys i couldnt have done it without this site, even though i only sent 1 letter im ready to take on cap one and halifax now! will be sure to donate when i get my wad!

almost as nice as the £4200 i'm into natwest for which reminds me, i wrote my claims out in a signature the other day and theyre not there!

i know for sure they dont! £40 / month for 3 years! the offer is for the reduction of £20 charges to £12 for the last 12 months, insulting!

received a settlement offer before ive even received my statements from my SAR, £280 - No Thanks! any chance a mod could please change thread to title - Ben vs Capital One, many thanks in advance.

well, its all go now confirmation off royalmail.com that prelim natwest delivered (£4200) and SAR for cap one and halifax also delivered. just flipped me egg timers over!

xlnt, cheers don

Hi guys, Pretty much as soon as i discovered the wonderfull world of CAG a couple of weeks ago, i received a letter from cap one saying i had now officially defaulted and my account had been closed, i owe them £1300 and they said i would be contacted shortly to discuss repayment (also said they could ask for it all back at once!) - they have not contacted me as yet (although i did send them the estimated charges claim letter off the BBC website, before i found CAG) I estimate they owe me approximately £1400 in late payment and overlimit charges, and have today sent my subject access request letter (im expecting a novel on manual intervention notes lol) My question is, can i refuse to arrange repayment with pending legal action on my part? Also are they any more likely to settle the account easier than is normal, with me having conclusive proof that they have suffered £0 losses from the account (due to charges being higher than balance owed) This card has been the bain of my life since the day i received it 3 years ago, i can't wait to be rid of it!

OK i've filled out simple statutory form, comes to £4280.00 (found some duplicates in the statements they sent me) or £4603.11 with 8% I need to now delete all references to interest to send with prelim letter, is that correct??

excellent, feel quite lucky that i got my statements out of them so fast, didnt even use your data protection act letter as i hadn't found this site by then. Prelim letter going out tonight Lovely of Natwest to look after my money for me all of this time! hehe

just want to double check, i see all over the site that charges refer to returned direct debits, cheques and standing orders. Am i right in assuming i'm also entitled to claim for card misuse charges? these constitute the majority of my claim!