I Won, I Won-----cant Quite Believe It!!!!!!!

[gilly41]

Hi

This is my first post on this board so not sure if I am in the right place!! I have written to Capital One requesting all my statements dating back to when i got the card in 2002. I have totalled up my charges and they come to the grand total of £700!!! I cant believe it!!!

I am now going to write them a letter asking for the charges back-------thanks to all the advice on the Martin Lewis board and the helpful tips on here.

Please could someone advise me which letter I send to them---I have read the letters at the top of the page but not sure which is the correct one to send??

Thanks ----xx

[Bovvered]

Here is a copy of my preliminary letter to Capital One:

 

Capital One Bank

PO Box 5283

Nottingham

NG2 3WT

 

Request for repayment of charges

 

Dear Sir/Madam,

 

ACCOUNT NUMBER: xxxx xxxx xxxx xxxx

My request

I am writing to ask you to refund to me the charges which you have levied from my account over the last 6 years. I now understand that the regime of fees which you have been applying to my account in relation to late payments and exceeding the account limit (often directly due to your late payment penalties), are unlawful at Common Law, Statute and recent Consumer regulations.

 

Your responsibilities

I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law. I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.

 

What I require

I calculate that you have taken £xx.xx which you have charged me in Over Limit and Late Payment fees.

 

My targets to resolve this matter

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

 

I will give you 14 days to reply to me accepting unconditionally my request in principle and letting me know a date by which I will receive payment.

 

If you do not respond or you do not respond positively within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

 

After that there will be no further communication from me and I shall issue a claim at the expiry of the second deadline.

 

Yours faithfully,

 

 

 

 

 

Bovvered

[gilly41]

Thanks Bovvered for your reply. I will get that posted out today. x

[gilly41]

Hi

I have written out my preliminary letter for Capital One requesting my £700 in fees/charges to be returned. Could someone please advise of the address.I am not sure whether it is

 

Capital One

PO Box5283.

Nottingham

NG2 3YG

 

or if it is

 

Legal Compliance Specialist

Capt one

Trent House

Station Street

Nottingham

NG2 3HX

 

Thanks for any help

xx

[jonni2bad]

They will both go to the same address... however, this may be more specific

 

Capital One Bank

Legal Department

4th Floor

Loxley House

Station Street

Nottingham

NG2 3HX

[gilly41]

Hi

Many thanks for your speedy reply. Much appreciated.

xx

[Natasha]

yep thats the same address i used( legal department address) they have been quite good with giving out the info etc.

[gilly41]

Hi again everyone

Just to update you I sent off the Preliminary letter and I received a reply yesterday.

 

The letter reads pretty much the same as others on these boards----"Our fees are in line with other banks and finaancial institutions and as you are probably aware the Office of Fair Trading, OFT, are not challengining the right of banks etc etc etc "

 

It then finishes by saying

"Even though weve added them correctly I would like to help your by refunding fees weve added totalling £185.So that I can do them, please sign and return the settlement form Ive included with my letter".

 

I am claiming £700 fees back so I am obviously not going to accept this. I am correct in thinking that the next letter I write is the Letter before Action?

 

Thanks for everyones help

xx

[Tinkerbelle]

Hi there.

 

That is the correct letter that you need to send.

 

All information on the process can be found here

 

Letters can be found in the Library Section here

[gilly41]

Hi

Thanks Tinkerbelle. I have read it all in depth------going to write the letter later today.

Fingers crossed!

Good luck with your claims.

xx

[gilly41]

Hi

I was just wondering am I suppose to add interest on?I am just reading the letter before action and it does state that you add on interet for the overdraft.My fees(late payment and overlimit charges) total £700. I am not sure, if that is the case, how I work out the interest.

Thanks again

xx

 

 

 

Merged threads, please keep to the same one.

[Tinkerbelle]

Hi,

 

Forget about that particular interest. It doesn't add up to much and is too complicated to work out, so most people don't bother with it.

 

When you come to filing your moneyclaim, then you use the spreadsheet in the library to calculate the 8% interest.

[gilly41]

Hi again!!

 

Well this morning I have received a reply to my LBA-------this is how it reads:

 

Thank you for taking the time to write to our legal department about the fees we have added etc etc etc...................

 

Our fees are in line with other banks and inancial institutions and as you are probably aware the OFT are not challenging the right of banks to charge default fees, but merely the level of those charges.

etc etc

 

However, as a matter of goodwill, ive refunded two fees back to your account. Youll see a refund of £40 on your next statement etc etc

 

Please accept my apologies for any upset causted by our fees.

 

Yours sincerely

Robert Udy

 

Well----the first reply actually offered me £185 if i signed to say that would be the end of it.Now they have refunded £40!!!!

 

So now do I proceed with the next stage?

Thanks for any help

xx

[jonni2bad]

So now do I proceed with the next stage?

 

Absolutely!

[gilly41]

Hi again

Just had a look in the library and not sure as to what the next step is? I have just got the rely to the LBA.

Thanks again

x

[jonni2bad]

Provided that you have passed the 14 day deadline for this letter, your next stage is to take court action to recover these charges.

 

However, since you are still unsure about what you need to do, I would suggest holding off for a couple of days, and spending that time reading EVERYTHING in the FAQ section.

 

You are now on the verge of taking a large financial institution to court - one that has virtually unlimited funds and it's own legal team. Do not do so lightly, or without being fully aware of the implications of this next step, and certainly not unless you know the proceedure inside-out.

 

I cannot stress strongly enough the need to do this.

 

This reply is NOT intended to put you off - there is nothing wrong with taking legal action, and we would certainly not promote the idea of doing so if we didn't think it was the right action to take. But you must start to take control of this and not simply be directed to the next step by other users.

 

Once you are happy that you have done the above, you will know exactly how to make the next move - please post back when this is the case, and we can take things from there

 

John

[gilly41]

Hi John

Thanks------I am definately going to read everything in detail before I go ahead. The letter would have been received by them on Tuesday May 9th so the 14 days hasnt elapsed yet ---that will therefore give me plenty of time to read the ins and outs.

Thanks again for your help.

Can I post before I apply to the Court just to double check I am doing everything the correct way?

x

[jonni2bad]

Certainly can

[gilly41]

Many Thanks x

[gilly41]

Hi

I have been reading through the FAQ questions re making my claim through the Court. My 14 days are up next Tuesday and I will be applying then----in the meantime I am reading all the questions etc so I know what I am doing.

Can I just ask----how exactly do I work the interest out?

My claim dates back to March 2002 up until April 2006-------it is for £660(that is taking off the £40 they have given me back!!)----and I work the daily interest rate out using the formula provided as £0.1452. I am not sure how to work out exactly what interest is owing.

Thanks for any help

x

[jonni2bad]

2 types of interest are involved once you reach court.

 

8% on each and every charge, from the date incurred. Search for the spreadsheet - you enter the amount and date, it works it out for you.

 

8% on the overall amount, on a daily equivalent, until they pay you.

There is also a calculation for doing this in the FAQs.

[gilly41]

Thanks Jon

I will read through look through it all again tomorrow--------couldnt find the spreadsheet today but will have tomorrow afternoon free to search.

Thanks x

[gilly41]

Hi again

I have just been to try and open one of the spreadsheets and it wont let me open it!! Any ideas please as to how else i can work out my interest(maths is not my strong point!!).

Just wondered if I am doing something wrong

Thanks x

[Bovvered]

Assuming you've got MS Office it should open - try again and do a save as first

 

There are 2 alternatives, if you've got Excel, this is the one you need:

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?t=182

[gilly41]

Thanks----will try that xx