Kashie V Capital 1 **WON**

[kashie]

Hello,

 

I sent off for my Cap1 Statements a few weeks ago. Today I had this response:

 

'Thank you for writing to us about the fees we've added to your account. I understand you'd like us to refund the fees we've charged, as you don't believe they reflect our costs. I'm sorry you feel we've treated you unfairly.

 

Below is a list of all the fees added to your account as requested.

 

Late payment fees:

 

September 2001 - £18........Etc

 

 

Overlimit fees:

 

September 2001 - £18........Etc

 

Totalling £1094. (This is me writing in red)

To explain, we automatically added late payment fees if your payment was missed, arrived late or wasn't enough to cover your minimum payment. We added overlimit fees i your balance went over your agreed limit which was £XXX.

 

When we opend your account in December 1999, we sent you a credit agreement which clearly explained these fees. By signing and returning this to us, you agreed to the terms and conditions for the account, including the fees.

 

As you're probably aware the Office of Fair Trading has challenged the level of bank default fees. Although we feel £20 is a just fee, we've reduced our fees to £12 so that we're in line with our competitors. I appreciate that you've incurred previous charges at a higher rate, and would like to address this.

 

I've reviewed your account and, as a gesture of goodwill, i'd like to offer to reduce the fees we've charged to £12 each. This amount totals £402. If you'd like to accept this offer, please sign and return the settlement form I've included. Once I get it back I'll add these refunds to your account and notify the agency who's looking after your account the new balance.

 

I hope I've explained things clearly, but if you do have other questions, please write to me again. You'll find my address in the leaflet I've included, which also explains our complaints procedure. If I don't hear from you within four weeks, I'll consider the matter closed.

 

Yours sincerely

 

Executive Office Manager.'

 

Obviously I do not intend to accept this offer, but I have no proof of statements as I requested and no concrete dates that I can work out my daily 8% interest charge.

What so you recommend that I do????

I only requested my statements.

[Paintball]

I've just sent off my prelim and if I get this response, I'll be sending them an LBA, then I'll submit an N1 if they don't give me my money back ...

 

P

[harley davies]

Hi K.

This is a similar response to the one I had last week. I just ignored it and sent off my LBA yesterday. Good luck.

[kashie]

So how did you calculate your interest and at what rate did you use?????

[kashie]

I recently put in a claim for charges on behalf of my husband for charges amounting to £400 plus.

 

I charged the interest at 8% according to Martin Lewis' claims calculator on the 'Money Expert' website.

 

Since then I have issued Cap1 with a county court but have I over charged them??

 

I'm a bit worried now as I was unaware that these interest rates would be different.

[Paintball]

I used martinhw's interest calculator, putting my montly rate to calculate the APR http://www.3-2-1.ws/cag/APRcalc.xls

 

- which gave me varying APR rates; 29.9% 2004 to 30.27% in Jan 2007.

 

I averaged the rate out to 30.00% (being slightly generous to Capital One!).

 

P

[kerryanna2]

Hiya Kashie, been reading the thread as i already have a case set up with the woolwich but am also about to start my Cap 1 Mission, already sent the prelim and recieved the same response as you. I am quite new to this but after reading the FAQ's it appears that if the letter does not state 'full and final settlement' we have an obligation to continue negotiations.

 

QUOTE:

 

"*If this offer is NOT called FULL AND FINAL then you have a duty to mitigate your losses and continue with negotiations. This might be rather annoying, but you have to be aware of the danger of being seen by a Judge as having rushed into Litigation. In such circumstances use letter 4 below. You should give enough opportunity for the bank to respond to you one final time. There is no set figure that would apply for this timescale so I will suggest a further 10 days from their receipt (count 2 working days from postage). If it is easier for you, just consider waiting 2 weeks."

 

Check out the FAQ's and not sure if anyone else has anymore advice but I am going to send rejection letter 4 on mine.

 

Not sure if this is much help but I hope so...

 

Good Luck,

 

Kels.

[syrill-sneer]

This looks as though it is their new responce to S.A.R letters, and by the look of things thier trying to appear honest and offer you a lump sum up front hoping you will take it and leave them alone. If i were you I send a letter from the template libary http://www.consumeractiongroup.co.uk/forum/bank-templates-library/6986-data-protection-act-non.html and also give them a phone call.

[syrill-sneer]

You can claim the statory 8%, but you would be better off claiming contractual interest, which will be along the lines of 20%+, but make sure that you use the correct apr applicable for your account.

[kashie]

Thanks for your reply.

 

How will I know what the APR is? I haven't used the account or years and they didn't supply me with the original statements only a list of overlimit fees and late payment fees.

[kashie]

Hi,

 

Does anyone know what APR CAP1 were charging between 2001 and 2004???

 

This is for Credit cards only.

 

Please help.

[syrill-sneer]

Kashie, try and keep it to one thread please, just confuses things otherwise.

As my account is still active I phoned capital one up and asked them, but in your case you need to get your statements and I'm pretty sure there is a spreadsheet that works out your apr, have a read around the other interest threads first.

[kashie]

Ok sorry to confuse you with the threads - won't do it again.

 

It's just that I don't really understand the APR thing and with the spreadsheet it asks you to enter the APR in order to calculate this for you.

 

Sorry if I sound dull.

[dx100uk]

look on your statement!

just underneath the activity for a month there is a line which says

blah blah blah interest at 2.069% per month [or about that - that mine for Feb 07] now *12 gives APR.

 

dx100uk;)

[kashie]

dx100uk,

 

Thanks for your reply, but this is the problem, I have not been given any statements, only a list from Cap1 stating the month and year of each charge.

 

I have only just found out about the contractual interest thing and am still a bit conused.

 

Sorry!

[dx100uk]

ok

well i thought you must at least of had one statement.

 

anyhow

you now have the int rate

now go here>

VAMPIRESS'S CHAMBER

 

no.13.

and off you go

you will need to create a google id if you no not have one

 

file copy spreadsheet will be you first port of call

then name it

rest is obvious

just enter charge reason

date [in us format!]

then amount

bingo all done.

can even be exported to pdf

 

dx100uk:cool:

[kashie]

Thanks again for your time and patience- much clearer now. Thank you

[kashie]

Hello,

 

Has anyone had this?

 

I sent off for my statements and recieved a list and an offer of the difference between the £12 and £20 chareges amounting to only £402 instead of £1094.

 

I have sent off a further three letters requesting my statements and have had no response.

 

The time limit was up last week but because of the Easter break i have not been able to do anything about this.

 

I phoned them today and was told becasue my card is no longer active they cannot complete a sercurity check to access my infomation. I told them that I only want to have copies of my statements and they refused to discuss this with me. I am now fuming and at the stage where I have to issue a claim with the courts to gain the information.

 

How rediculous is this?

 

Does anyone have any suggestions?

[ukaviator]

Hi Kashie

 

Have a good read here: http://www.consumeractiongroup.co.uk/forum/bank-templates-library/6986-data-protection-act-non.html

[kashie]

Thanks for your response but I have already sent all three of these letters. I know I have to issue a claim to the court but what do I need to enter in the particulars of claim section?

[ukaviator]

If your using the N1 route, the POC is here:

 

http://www.consumeractiongroup.co.uk/forum/bank-templates-library/681-4-particulars-claim-n1.html

 

If you use the MCOL route, then use the POC just below the one in the link.

 

UK

[kashie]

thank you for your response but the particulars of claim i am talking about is for requesting my statements not for the bank charges.

 

I suppose I could continue to issue a claim on the assumption that the charges that they have listed are true, but I have no statements to back this up should this go to court.

[Bookworm]

4 threads merged.

[kashie]

Had a letter from cap 1 stating that I did not send a cheque with my original request for statements and that I needed to do so in order for them to send this information.

 

Checked bank statement and they were right - I think I got confused as I was sending for my husbands statements too.

 

Still sent a cheque, got statements back yesturday and sent letter asking for a refund of nearly £1,500.

 

I will probably have to go through the business of reading silly offers from Mr undy again, but its all part of their game so we shall humour them!

 

Will keep you posted.

[kashie]

Had another letter offering £402 instead of nearly £1,500 owing. Sent out LBA yesterday. Let's see what happens now.