**WON** Charges over 6 years; compound contractual int't; repaid in full !!

[MandM]

Hi Lielani.

 

I dont know if anyone has asked you yet as I am reading your thread in this heat and may have missed it, have you paid any PPI on the accounts.

 

 

Mrs M

[slick132]

Hi Leilani,

 

You've done exactly the right thing by refusing to talk to this guy. He's the one who sat outside, frustrated by your actions, but unable to do anything more. So well done you !!

 

You need to get to work on seeing what penalties you can reclaim. You may be able to change the situation by reclaiming what is rightfully oyurs, so please do this when you can. It'll be therapeutic I hope, as well as a financial help to you.

 

Stay focused and strong. Don't get angry, get EVEN !!

 

[leilani]

Slick or anyone else who maybe able to help.

 

I think my brain has turned into mush Arrrgh...I have finished filing and getting the accounts into year order back to 1995.

 

I have been looking over all my bc and mc statements right back to determine what I should be claiming back.

 

Here's examples that I have found, can someone tell me which ones I can claim back on:

 

 

Late payment charge

Cash Interest charge Cash Balance (no percentage lump sum taken)

Interest Charge Standard Balance (no percentage lump sum taken)

Interest Charge Default Sum Balance

(these top four all on the last one!)

Interest on Your Cash Balance Interest 2.075%

Interest on Your Standard balance 1.667%

Over credit limit Charge

Interest Charged

Cash/Cheque Handling Fee

Handling Charge

Over Credit Limit Refund

Exceeded Limit

B card Fap (?) every month

Card Membership renewal

 

Oh last thing, I could not find a year and a half of statements on one bc and a few on mc for a particular year which happens to be the year I started my business. I think my ex husband has nabbed this for what ever reason (info I guess) I presume I will need to gain that year from BC do I send off a certain amount of money and they give last 6 years or do you specify what years you want?

 

Right I am trying to keep awake but failing...

 

Oh by the way I had card protection up until few months ago of which payment used to come off BC course they have not renewed it. Is that another thing I should concern myself with?

 

Cheers peeps

[leilani]

Just thought I would mention I have read the link Slick in your signiture you suggested but I really don't understand it...plus being that it's a Natwest statement it's layed out differently.

 

Can anyone help me find an example of what I should claim for, I have looked through the forum to no avail as yet no one has come back with an idea which ones from the list would be candidates.

[slick132]

Hi Leilani,

 

These are the penalties you should reclaim :-

 

Late payment charge

Over credit limit charge

Exceeded limit

 

It looks like you managed to get them to refund a charge under this heading - Over Credit Limit Refund. You shouldn't claim any amount(s) which were refunded by agreement.

 

FAP is BC's Family Accident Plan. I assume you agreed to this, in which case it is not reclaimable. However, if this was added to the account without your knowledge or consent, you should seek a refund of the monthly premiums. This issue should be dealt with separately from your charges reclaim.

 

Approx what years are you missing the statements for.

 

Card Protection is not something you can reclaim. It's totally unnecessary in my view, but that's another story.

 

[leilani]

Thank You Slick for your speedy response.

 

Firstly, the year is 2005/6.

 

Yes I did manage to get a refund on occassions those were the days I had some balls and kicked up a stink, however I turned into a pussy over the years especially as it's become a lot harder to do as they are absolutely adamant.

 

FAP are yes I remember that. They got me on that one. They called me and said I had a free month. I miss understood it how it work I thought it would end after that month and if I wanted it to continue, I had to contacted them, but they had it the other way around...It was a time when I didnt check my statements that often, opened and filled then one day I noticed this FAP and thought what is this for? I rang them and asked for the money back as I didn't sign to have this. They claimed I had accepted over the phone and it was my responsibilty to cancel it after that free period. It got cancelled there and then but no recourse on the money that was wasted each month...I now except nothing over the phone!

 

As for Card protection, actually it has come in handy...my business card got stolen and they dealt with it immediately. I think I even lost a whole load of cards and they dealt with that too but your right it may well be just as quick to do it myself

[slick132]

When you say you didn't understand the stuff in the link, are you referring to using the spreadsheet to calculate charges and compound interest.

 

If so, there's another spreadsheet you can use, which was also mentioned in the Interest Tutorial. See here - http://www.shweb.pwp.blueyonder.co.uk/interestcalcs.xls

 

See if that's any easier.

 

[leilani]

Going through statements and before 2001 I was not charged once for late payment or exceeding the credit balance. Now I know I missed payments even says on statements no payment made yet no charge and certainly no over limit charge singled out but the miniumum payment went up as a result and the interest charge changed too.

 

Did they calculate it different back then, like increase the interest charge to cover?

 

If so I guess I can't claim anything back beyond middle of 2001 if it's not on the statements.

 

Another thing...thanks for the better sheet less complicated, however, the apr rate should it be 29.90%? Makes me feel like I will be claiming thousands and I have only put in two dates so far and we are up to £300 Huh?

 

Would love to hope

Edited July 15, 2010 by leilani
actually wrong year and added more

[Dotty50]

It's quite a surprise when you start adding it all up!

[leilani]

I should say so that's that card paid off and they owe me money!

 

Right to the next lol

 

In all seriousness, am I in reality looking at the charges being returned i.e what was actually taken and only if they don't I fill a claim and then I would go for the top figure?

[Dotty50]

Yes any unlawful charges/fees.

 

I have only done Capital1 so far, claimed fees plus contractual interest of approx £700 ish, they offered £40 ish! I rejected it and they increased it to £400 ish, still not accepted and asked for calculations etc but they won't tell me!

 

Letter before action is, I believe the next step but not got around to it yet!

[leilani]

Well best of luck Dotty!

 

If I had known all this some time ago I wouldn't have accepted the figure of on another account after they added "additons" package without my consent...totalled to over £450 think I got £117. Still have letter and rough figures of working out but that's another story! Damn Banks I actually am beginning to hate them...they never let up with their harassment and when they don't want to talk they write and say "we will not enter into any further correspondence"

[slick132]

Hi Leilani,

 

Re the spreadsheet and the rate of 29.9%, you should use whatever figure BC show on your statement as the Cash Advance APR.

 

Re your query in post #35, you will seek charges plus contractual interest from the start, ie your Prelim Claim letter.

 

BC will usually refuse to repay the cont'l int't and will offer to refund just the charges plus some 8% int't.

 

Get the reclaim letter off to them and see how they respond. Adapt and use this - http://www.consumerforums.com/resources/templates-library/48-bank-templates/121-bookworm

 

[leilani]

Hi slick

 

I have logged all the charges and I was going to send off the prelim letter, but needed to change the rate to what was on the statements as you say is at APR 29.9% on the excel sheet. Now as this is over 10 years the rate has changed.

 

E.g. in Sept 2001 the APR rate was 21.3%, in Feb 2002 the APR was 20.8%, it then goes up and up to finally last month was 27.9%.

 

Whilst looking how to calculate I came across a thread with Fenris who is experiencing almost exactly the same which is good, in one way but still confused still on how to work out the interest to put at the top especially as a compound interest calulator has entered the equation!

 

So, two questions if you don't mind answering.

 

1. With the differences would I do an average, or do I have to physically work out each one? Or is this where the compound interest calculator comes in?

 

2. How do you enter the figures on the prelim letter?

I calculate that in respect to Account:you have taken £XXXXX (which figure goes here) plus £XXX (which figure goes here) which you have charged me in interest for the sums which you have taken. Total £XXXXX (which figure goes here)

Would like to get this off today so advice would be appreciated, as I have received correspondance from BC in regards to my letter, re harassment and no true copy of agreement, bog standard by the look of it...re section 78

[leilani]

Attached pdf of letter received this morning, regarding dispute on accounts.

 

They are claiming that they do not have to send a signed copy with my signiture. Is this true?

Letter received-22ndjuly10.pdf

[slick132]

Hi Leilani,

 

Both the spreadsheets which I linked on Fenris's thread calculate compound interest, which is what you want.

 

To avoid the confusion associated with differing interest rate changes, just use the 29.9% to calculate your interest in restitution. You are not specifically claiming the interest they charged you. You are claiming back the money from them which they made by using your money in the course of their business.

 

This will be fine for now and any minor details can be negotiated when reaching settlement with BC.

 

Re the letter in post #40, they do not have to supply the signed credit agreement. However, without it, they would be unwise to take you to court for the debt. It's referred to many times on other threads here in the BC forums.

 

[leilani]

Oh okay, I haven't seen it Slick, all I have picked up on is that signed copy is important and most have not received it only a copy of an agreement such as here...so actually if they do have it they can play that card when they want.

 

Right well I will send off charges list and prelim letter, but can you advise me of which figures goes first?

 

i.e.You have taken £XXXX would that be the initial charges total for x period, then the interest on that ie 29.9% and then the total of both?

Edited July 22, 2010 by leilani

[slick132]

If BC have sent you their T&C's but no actual copy of the credit agreement, they have probably complied sufficiently in response to your CCA request. They may have the agreement or not but you will only find this out if they try to take you to court.

 

So concentrate your efforts on reducing the debt by reclaiming the charges.

 

Use the credit card reclaim letter adapted as follows:-

 

I calculate that you have taken penalty charges of £XXXXX plus £XXX which I hereby claim as interest in restitution based upon the case of Sepra Metals, giving a total of £XXXXX

 

Enter the total of penalty charges as the first figure and the compound interest as per the spreadsheet as the second figure, giving the total as the third figure.

 

[leilani]

UPDATE:

 

I have had a response back from my charges claim for both accounts.

 

They are prepared to credit me with a set figure and contractual interest on each and final settlement of my claim. I haven't agreed anything.

 

They also enclose a schedule of charges...which they have only taken back to 2004 and not 2001 which is the year I started my claim from....

 

What is my next step?

[leilani]

Had a look through forums whilst waiting for reply and I see a few people have written back saying they accept figures as partial payment but will pursue for full amount, should I be follow a similar route?

 

Mercers are still ringing me daily as clockwork and the threatening text messages come every few days still regardless of the fact they have acknowledged my claim, should I include this in the letter too?

[rebel11]

Hi lei

 

Send the following letter to Mercers, send it recorded, don't worry if they ignore it:-

 

Dear Sir or Madam,

 

Account Ref xxxx

 

Please be advised that I will only communicate with you in writing. I have noted your repeated attempts to contact me by telephone over the past few weeks/months and these have been duly logged by time and date.

 

Furthermore, should it be your intention to arrange a “doorstep call”, please be advised that under OFT rules, you can only visit me at my home if you make an appointment and I have no wish to make such an appointment with you.

 

There is only an implied license under English Common Law for people to be able to visit me on my property without express permission; the postman and people asking for directions etc (Armstrong v Sheppard & Short Ltd [1959] 2 QB 384

. per Lord Evershed M.R.). Therefore take note that I revoke license under Common Law for you, or your representatives to visit me at my property and, if you do so, you will be liable to damages for a tort of trespass and action will be taken, including but not limited to, police attendance.

 

Yours faithfully,

 

Also print the letter out, stick it in an envelope, if anyone calls from

Power2contact or any other company, hand the letter to them after

looking at thier ID. Don't get into a conversation with them.

 

If you do receive a doorstep visit we give these suggestions to Members.

 

Give them the template letter through the letterbox or chained door.

 

Tell them to leave as you have nothing to discuss and all communication must be in writing.

 

Tell them you will call the police if they don't leave immediately.

 

Remain calm and polite at all times.

 

Walk away from the door so the visitor cannot try and talk to you.

 

If they don't leave, call the police to report that you are being harassed and the visitor refuses to leave.

[leilani]

Thanks Rebel

 

Bless you for taking the time to advise me on Mercers, I am have sent numerous letters such as you have posted, even handed the guy who visited. Yet they still don't let up.

 

I think what I am having is a hard time trying to grasp and still very unsure of my position is the following:

 

So far situation as stands:

 

1. Unable to pay monthly payment since April 10.

 

2. Informed them of such.

 

3. They don't offer me any solution and continue...

 

4. To get their debt collectors to hassle me everyday by either telephone, text message and a couple of door step calls regardless of standard letter sent informing of harasment (one of which I handed the letter).

 

5. Requested signed copy of true agreement...they sent copies of T&C and a blank agreement, no details or signiture, they feel they have supplied me adequately.

 

6. I believe the account to be in dispute as a result, they don't believe it is yet upon...

 

5. claiming charges back to 2001 (clearly thry only go back 6 years) have offered me something which of course I will not accept.

 

Does this not suggest by their offer, that actually we are in dispute?

 

If so is that not enough to get Mercers to stop calling? It so sets my nerves on edge!

 

Oh I received a letter from Mercers pay at least 3 payments and we will pay 2 of them! Idiots do they really think i would fall for that?

 

Im hanging in there just want to confirm that I write back and tell them either to get stuffed or only accepted as partial settlement.

[rebel11]

Hi lei

 

I take it that the interest rate on the credit card has been varied numerous times since the account was opened, if that is the case,

then they will need to produce the original agreement if they want to take you to court. So until they do the account is in dispute. Infact they need

to send T&C's for each interest rate change.

 

Judge Waksman stated the following in a recent case.

 

'Where an agreement has been "varied" (eg, where the interest rate has risen), a copy of the original and the varied terms must be produced.'

[leilani]

What do you mean by "a copy of the original", do you mean original T&C or agreement?

 

Well if the former then no I never recieved a copy of the original agreement, as for updated T&C's each time they changed the rate (and changed the rate they most certainly did) most likely but like everything it probably came mixed along all the other crap they send and disposed of!

 

So I can still state that I believe these accounts (as there is MC as well) are in dispute? The reason why I ask is that I want to be sure of what my situation actually is especially if I get caught out or finally take a call some day from Mercers, I can at least say it's in dispute...hope this all makes sense?

 

Thanks for info Rebel, I appreciate everyone's point of view.

[rebel11]

I think a copy of the Original T&C's but how are you going to know if it's the Original unless it accompanied with the original agreement.