Why let your bank keep your money? Calculating your charges claim

[Guest MamaG1]

stickies up the top of the forum -PPI successes

hit the blue underlined payment protection iinsurance [PPI] at the top of this page.

 

There are abot 3links, go through them to choose which is appropriate 4 u.

 

MamaG1

[Mightyacorn]

Could someone have a look at my thread please, any advice gratefuklly received....

 

http://www.consumeractiongroup.co.uk/forum/legal-issues/258324-mightyacorn-lloyds-tsb-overdraft.html

[HP Mum]

subbing

[george brown]

im a little thick so excuse me,but are you guys saying that i can claim back all credit card charges that are over £12 ? thankyou

[jdes26]

You can CLAIM all of them back.... Who r they with?????

[george brown]

halifax,coop,nationwide,and thankyou for answering

[george brown]

thankyou for replying,nationwide,coop,and halifax, thankyou

[jdes26]

I've beat abbey and lloyds ALL charges back and u can do the same! Do u have template?

[jdes26]

Ill get one up 4 u!! Send it and they will crack.... Eeasy money .... We gota beat those banks

[george brown]

thankyou very much for that, fingers crossed .this place is brilliant,i didnt think so many people were in or had been in the same position as me till i joined here, thankyou for all your help

[slick132]

HI GB,

 

If you start a thread for each of your CCard a/c's, you can update each case and seek help if you need it.

 

In addition to reclaim each penalty charge in full, you can also seek interest in restitution at the CCard's contractual rate. This will increase the amount you can claim, particularly if there are older charges on any a/c.

 

[jdes26]

On this site we have one thing in common we have all been abused by banks AND WE KNOW how to fight back and we pull together to help each other through our experiances.

[jdes26]

Address

Banks Address

Dear Sir or Madam,

Account number: xxxxxxxxxxxxxxxxxx

I am writing to request that you repay all the late payment fees and/or over limit fees that have been applied to my account.

I do not believe the charges reflect the true cost to “ bank “and are unfair and disproportionate. I am therefore requesting a refund based on the Unfair Terms in Consumer Contracts Regulations 1999.

This is supported by the Office of Fair Trading’s April 2006 statement into credit card charges, which noted that the level of charges at the time, and prior to that period, were unfair.

 

The charges total £xxxxx , plus as I believe I have been unlawfully deprived of the money I have calculated £xxxx interest at the statutory rate, the amount the court will award.

 

I therefore ask that you repay me the full amount of £xxxxx I have attached a full schedule of the charges and interest with this document.

I look forward to a full response to this letter within 14 days.

Yours faithfully,

[george brown]

thanks jdes26, i know what im doing this weekend now, thankyou

[jdes26]

i cudnt get word doc loaded but u get the jist..... ill update u with a second letter if they refuse... but this is a start ............... come on england

[Guest MamaG1]

How has this gone, so far.

Have you been able to resolve any of it yet??.

[Poor-Credit Borrower]

Message to the site team or a moderator: where are the messages on this thread between the 18th June and 04:06 this morning?!! I am unable to see, for example, the post from Mr.Sandman timed at 18:59 yesterday, although I can see it in the actual e-mail notification to me. Thanks, PCB

[slick132]

Hi PCB,

 

This thread was started to discuss a specific issue. Any general posts bearing no relevance to the original topic should be moved to the appropriate forum.

 

When this happened, you would have received an email telling you of the new location, to which I moved the posts in question.

 

If you didn't get it, the new thread is here - http://www.consumeractiongroup.co.uk/forum/showthread.php?278886-MrSandman-and-LloydsTSB&p=3146130&viewfull=1#post3146130

 

8-)

[moneyproblem]

Sorry again, but i'm having problem understanding the interest claim issues

 

I note that we are supposed to be able to use this for credit cards

 

I'm trying to reclaim from my capital one credit card charges but i'm confused as to which interest i ami applying and how much?

 

For example, we £20 for overdrawn and £20 late fees and a mis sold PPI of £2.20 at 29.9% APR

 

We know we can claim those back

 

Now, the issue is what percentage of interest are we claiming.

 

1. Are we adding 29.9% to the total of £42.20, and 8% on top of that?

2. Are we adding 29.9% to each individual charge on a daily basis (running to date), and then add 8% to the total?

 

Capital One charged me purchase interest (£3.50) and cash interest (£1)

 

3. Are we taking a percentage from the £4.50 to add to each individual charge (running to date), and then add 8% to the total?

4. Are we taking a percentage from the £4.50 to add to the total along with the 8%?

5. Are we taking 29.9% of the purchase and cash interest to get back, or is it a completely different percent?

 

Thanks in advance. I hope i haven't confused you as much as I have myself

 

EDIT: Sorry, someone has answered the question in another thread

Edited March 23, 2011 by moneyproblem

[moneyproblem]

I have another question...

 

I'm in the process of doing the first letter to claim for my credit card charges using this template

 

I've had a look at other people's example of what they put in for the figures, and I can't see anyone putting in the figures for the compound interest up to today's date.

 

Plus, the wording seems a bit off for me.

 

The wording is: I calculate that you have taken £XXX plus £XXX which you have charged me in interest for the sums which you have taken.

 

Now, the problem that i'm having is that if my initial charge was £20 from 3 years ago. I would put 20 in the first part, but the compound interest

figure couldn't be put in the second part because Cap 1 never charged me that amount.

 

In actuality, its me charging them this amount based on the amount of time has passed between their initial unlawful charge until now.

 

How can I reword the sentence to highlight that, this is compound interest, from the date charged until now, which I believe is owed to me as the initial charge was unlawful?

[slick132]

Hi Moneyprob,

 

This thread is not the place to discuss your own case.

 

You need to start your own thread to discuss your case in the appropriate forum. Also, have a good read of the Interest Tutorial at Link No3 in my signature.

 

Penalty Charges and PPI claims need to be calculated separately using the correct spreadsheets.

 

If you don't get replies and need help, send me a PM and I'll try to look in on your thread.

 

8)

[moneyproblem]

Hi Slick, Thanks for the advice

[jm2k]

does anyone have an UPDATED / CURRENT excel format to be able to work out the monthly interest rate as was posted at the beginning of the thread in 2009?

i have trid using this one but cannot get further than 8 lines after putting a few charges in each month before the calculations stop working for me?

 

really need this urgent to do particulars of claim ???

 

thanks :///

[slick132]

If it's a credit card claim and you want to calc compound int't at the a/c's contractual rate, use this spready - http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls

 

You should start your own thread for your case in the correct forum.

 

8-)

[Ibsys]

Sorry again, but i'm having problem understanding the interest claim issues

 

I note that we are supposed to be able to use this for credit cards

 

I'm trying to reclaim from my capital one credit card charges but i'm confused as to which interest i ami applying and how much?

 

For example, we £20 for overdrawn and £20 late fees and a mis sold PPI of £2.20 at 29.9% APR

 

We know we can claim those back

 

Now, the issue is what percentage of interest are we claiming.

 

1. Are we adding 29.9% to the total of £42.20, and 8% on top of that?

2. Are we adding 29.9% to each individual charge on a daily basis (running to date), and then add 8% to the total?

 

Capital One charged me purchase interest (£3.50) and cash interest (£1)

 

3. Are we taking a percentage from the £4.50 to add to each individual charge (running to date), and then add 8% to the total?

4. Are we taking a percentage from the £4.50 to add to the total along with the 8%?

5. Are we taking 29.9% of the purchase and cash interest to get back, or is it a completely different percent?

 

Thanks in advance. I hope i haven't confused you as much as I have myself

 

EDIT: Sorry, someone has answered the question in another thread

 

I had a Cap1 Card with a low permanent interest rate. I had/have a dispute with Lloyds which sent my finances seriously wrong which ended up with things not being paid. However, Cap1 sold the debt to Lowell Group and they wrote demanding £3000. I sent them a CCA 1974 section 77/78 request. After investigation, they wrote back saying they nor Cap1could provide one so they reduced the debt to...(here it is!)....."your new balance is £0.00 and the account has been closed." This card was pre 2007 and most were not on valid contracts.

Strangely, i have had a running dispute with Lloyds for 3 years now so I refused to pay Lloyds anything until they put the matter right. They sent the account to Apex Debt collectors and I replied by letter. A month later , I got a full set of statements as I had asked for but not the other things I had asked for. But on the last page of statements it reads:

Credit available; £0

Payment required ; £0

Balance; £0

Paid in; £xxxx (the debt reduced to nil)

Paid in; £xxxx (all interest refund)

Was it what I put in the letter?