Vanquis bank

[Corrections34]

sorry for being thick here. So the APR is 34.33%?

[Old Cogger]

Yep the same as my purchase rate was, but they have tried to increase to 39.9% and 44+ % cash withdrawals I noticed.

 

and I charge on the sheet the Default interest they add on after 28 days about £1.79 or what is recorded other than late payment, overlimit charge etc.

[dx100uk]

2 sheets

one for charges

 

one for PPI

 

you MUST enter EVERY CHARGE OR ROP PAYMENT with its date ON A NEW LINE

 

 

This second spreadsheet is a compound interest calculator and can be used both for PPI claims and Charges Reclaims on Revolving Credit Accounts such as credit cards. Compound interest is not an award that fos will give in respect of PPI claims but it can be used in PPI cases that are pursued through the courts. It is the standard sheet that is also used for charges reclaims both on credit cards and loan accounts where interest in restitution is claimed.

 

CISheet v101.xls

 

put 34.33% in cell D15

[Corrections34]

Blimey this is complicated

[Old Cogger]

Deal with one at a time = 1 sheet for Charges etc, omplete then concentrate on sheet two PPI claim. just list by date and the shhet will calculate, once you start you will get the hang of it. Dx has patience so ask if you have a problem.

[Old Cogger]

Deal with one at a time = 1 sheet for Charges etc, complete then concentrate on sheet two PPI claim. just list by date and the sheet will calculate, once you start you will get the hang of it. Dx has patience so ask if you have a problem.

Edited May 7, 2013 by Old Cogger

[Corrections34]

Cheers for this im going to have a go today.

[Corrections34]

Im going to start here with the charges. Do i include purchase interest, late payment, overlimit payment, default interest on this one spreadsheet?

[Old Cogger]

I used late payment £12.00

Overlimit charge £12.00

default Interest £ what ever ?

 

 

Sure Dx will comment on this?

[Corrections34]

Ok thanks.

 

Its got an array of different charges on my printout. Merchandise interest, Purchase interest, cash intetest and default fee interest. Not sure what I can and cant claim

[Old Cogger]

Normal interest you cannot claim only default interest and charges, Dx seems more in know see what they say? as I said I have a sheet not submitted until at a later date.

Edited May 7, 2013 by Old Cogger

[Corrections34]

Hi everyone,

 

Ok I have put the figures into the spreadsheet and they have given me the totals and compound interest. Ive done two different spreadsheets, one for charges and one for PPI (ROP) It has given me the following.

 

CHARGES SPREADSHEET

 

From 13/02/2009 to 15/04/2013 @ 34.33% APR

I have put every single overlimit payment and late payment in and it has given me the following:

TOTAL CHARGES: £564.00

COMPOUND INTEREST: £449.15

TOTAL: £1013.15

 

PPI (ROP) SPREADSHEET

 

From 13/02/2009 to 15/04/2013 @ 34.33% APR

I have put every single ROP payment in and it has given me the following:

TOTAL CHARGES: £308.43

COMPOUND INTEREST £204.07

TOTAL: £512.50

 

Does this seem too high?

[Corrections34]

Anyone? sorry if im going on. I just want to get this right first time.

 

Thanks

[dx100uk]

attach the files

 

go advanced/manage attachments

 

but sounds right

 

as long as you have put each 'charges' iin its own row

 

dx

[Corrections34]

Hi Dx

 

Hope I have done this right. Also one more thing could you point me in the direction of a template letter to send along with the charges spreadsheet.

 

Thank you

[dx100uk]

your details are showing

they are ok

 

charges letter

Dear Sir/Madam

 

 

 

I recently became aware of media reports on the investigation into credit card charges by the Office of Fair Trading.

 

 

I now understand that the regime of fees which you had applied to my account in relation to late and over limit charges

are unlawful at Common Law & under both Statute and Consumer regulation as they do not represent a genuine pre-estimate of your actual costs, but more a fixed PENALTY.

 

 

 

I would draw your attention to the terms of the contract which you agreed to at the time that this account was opened.

 

 

It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law

and in consideration of fair business practices and good faith.

 

 

 

It is my contention that you have failed to operate my account in a manner conducive to the above and have demonstrated a lack of fiduciary duty.

 

 

 

I calculate that you have taken £240.00 plus £878.70 which you have charged me in interest which totals £1,118.70.

 

 

 

Therefore this letter demands a refund of all PENALTY charges indicated including interest to the date you settle,

 

 

 

As the account concerned is closed, I request that payment is made directly to me, either by cheque or by BACS transfer.

 

 

 

I trust this clarifies my position.

 

 

 

 

 

Yours Faithfully

 

 

 

Enc; Schedule of charges

 

 

 

 

 

 

ppi one

 

 

Dear Sir or Madam,

Re:

 

I am writing in relation to the above payment protection (PPI) policy which i believe was mis-sold to me in relation to my

I believe you have not treated me fairly for the following reasons;

· The PPI was added without my knowledge..

· You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter. If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

This letter is in respect of the above account that was issued by

Yours faithfully

or

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

 

ADAPT THEM to your situation

 

ideally fill this out too

 

http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi.html

[Corrections34]

Thank DX Ill keep u updated.

[Corrections34]

Hi

 

Both letters sent today recorded. Just out of interest, Has anyone had any success in reclaiming late payment and overlimit charges from Vanquis?

 

Thanks

[Corrections34]

Hi all

 

Yesterday I had a final demand threatogram from Lewis Debt Recovery, who are chasing this debt on behalf if Vanquis. I am obviously trying to claim back charges from Vanquis at present. What should I do with this DCA, explain the situation to them?

[Old Cogger]

account in dispute letter to them

[Corrections34]

Hi all,

 

I have a response from Vanquis today after sending off my demand for late payment and overlimit charges and ROP. I used the spreadsheet and template letters and sent both claims seperately and recorded delivery. I gave the standard 8 weeks for the ROP and 14 days for the late payment and overlimit charges. And this was their reply:

 

Dear xxxxx

 

Credit Card

 

I refer to your communication regaring the above.

 

The details of your enquiry have been registered for investigation. We will try to resolve your enquiry as quickly as possible and keep you informed of our progress. However, please note that we have upto 56 days to resove a complaint under FSA guidelines.

 

Etc, etc, etc

 

Is it just a matter of waiting upto 56 days for them to come to a conclusion?

 

Thanks

[dx100uk]

they have 8 weeks yes

 

dx

[Corrections34]

does that include the charges (late payment and overlimit charges) I thought the 8 weeks was for the PPI (ROP)

 

Im sure I read it somewhere. cant be sure though

 

Thanks

[Corrections34]

I have applied for my charges back and given vanquis 14 days to fulfill my request. They have sent me a letter stating they have 56 days for the investigation. Should I send another letter after the 14 days are up?

 

Thanks

[BRIGADIER2JCS]

56 days is the standard time scale for this kind of query.