Penalised by Cap One, for paying my payment early.

[oldgirl]

I am truly lost for words, received my Capital One statement on Friday and they had charged me £12 for a missed payment. To cut a long story short i had paid my October payment early (3rd), before I received my statement which goes from October 5th. Rang them just now and got my £12 refunded but was told because I paid my payment before the start of my new statement it means that i have not paid my October payment according to them. They are asking for a double payment by 30th November.

Hope this makes sense to you all, I'm confused myself as I can't believe I've been penalised for early payment.

I would really appreciate some sound advice from you experts, would you pay up, if not what advice can you offer me please. I never pay early usually and believe me I never will again.

Thank you in advance

oldgirl

[Bookworm]

Ah, the joys of the automated system! Happens to me all the time, as DH gets paid 4 weekly, so unavoidably, at some point I will make 2 payments in 1 month, and whoever it is will get shirty...

 

The problem with credit cards is that you have to make a minimum monthly payment, but there is nothing to stop you making as many payments as you like. You could make weekly payments, or top-up if you get a bit extra, whatever the reason... So the system doesn't recognise that you have actually made your payment early, it just sees that you made another payment before the new statement got issued and as a result, your new statement starts again with no payment made to it...

 

Are you only making minimum payments at the moment? The problem you have is that if you don't "catch up", it will roll over and over and the charges will start piling up, and yes, you can reclaim them, but if you can pay the "extra" payment they want, it will be easier in the long run.

[oldgirl]

Thanks Bookworm, I do pay extra when I can, you're right of course about the charges piling up. I suppose it would be easier to pay up, it just hacks me off that usually i never pay early and the one time i do I get penalised.

Your advice is appreciated anyway, a hard lesson but not one I'll make again.

Thank you.

[Bookworm]

Ah, but here you are, trying to make sense of something nonsensical, that's why you get annoyed, lol.

[oldgirl]

Just a quick question please folks,

 

 

have received an income & expenditure form from, Credit Solutions of Purley, Surrey, am i legally obliged to fill this in and send it back to them.

 

We had a DMP with Stepchange but decided to self manage,

all ok apart from Capital One who have passed my account on to CS,

they are trying to squeeze more than the £5.79 a month as decided by Stepchange out of me.

 

I'm tempted to knock it down to £1,

 

 

what would be the outcome if i did,

 

 

anyone any advice please?

[dx100uk]

hope you've sent them and all your other creditors a CCA request?

 

 

who are CSL's 'client' in there letters please?

 

 

and no they have no right to that info.

 

 

dx

[citizenB]

What is the outstanding debt with Capone ?

 

You might find that they persist with the I&E. I would just say that you are basing your contribution to them based on information provided by Step Change - which was acceptable to Capone.

[oldgirl]

Many thanks for the advice: dx,

 

 

no i have not got round to sending cca requests yet,

 

 

the letter says: Regarding: Capital One Bank (Europe) & refers to them as 'our client' in the letter.

 

citizenB: the outstanding debt is for £861.40, yes good advice about the amount being acceptable to Capone through Stepchange,

this is what i will put in the letter that I'm about to write.

 

Thanks again, much appreciated.

[citizenB]

If you continue to have problems with them, let us know and we can advise further.

 

It isn't a huge debt (although when you are in debt it can seem like the National Debt) so they should back off a bit.

[oldgirl]

Thank you citizenB, have just posted a letter off to them.

[citizenB]

[shywazz]

I myself was with CCCS now step change,

however after many mistakes on their behalf I decided/opted to go into my own debt management plan with my creditors,

 

I wrote to all the companies and explained my reason for going it alone, and gave them a monthly figure that was/is affordable to myself,

 

ALL the creditors accepted the offers without question,

two sent me expenditure forms to complete, to which I never returned, the others accepted the offer without issue.

 

I have managed my own plan now for a little over three years without problem, clearing two debts, leaving four to go .

 

Debts going down all but slowly but at a affordable amount to myself.

 

Debts will be 6 years old ( defaulted ) come September 2015, from which I will continue to repay but will drop my credit file.

Non of the companies have applied for CJJs or bothered me in the slightest, just send me yearly statements showing money repaid and amount owed.

Suits me just fine and also have peace of mind I have and am clearing debts that I racked up some years ago.

 

Edited to correct spelling.

[dx100uk]

Many thanks for the advice: dx,

 

no i have not got round to sending cca requests yet,

 

the letter says: Regarding: Capital One Bank (Europe) & refers to them as 'our client' in the letter.

 

.

 

 

as the debt is stil owned by cap1 you can totally ignore the no powers DCA

 

 

theres little point a this stage in sending a CCa request

as the debt is still owned by the OC

but ofcourse they'd still need the signed agreement to enforce it or demand money

[oldgirl]

Thanks very much everyone, good sound advice.