goodwill gesture from Cap one **WON**

[karhuss]

Pleeeeaaaaasssseeee!!!!!! Anyoneeeee!!!!! Helpppppp!

[AppleCrumble]

hi Karhuss, don't panic!

now, i have had a couple of little grape juices but I will try to help as best I can.

1. firstly, I think you can only claim back a charge if you have paid it, if they have waived the fee as you didn't pay it I would leave it off.

 

2. Court bundle - no you won't need that just yet, this is used only if/when it goes to 'Allocations Questionnaire' stage later. (Cap one don't usually go that far)

 

Now very confused. Also on N1 form it asks for Overdraft interest. Would this be the statutory interest that I requested on top of my charges in my Request for Refund. If so, what is the interest under s.69 County courts act 1984. How do I work this out. These are credit card charges, so do they apply? I feel like throwing in the towel. This is very confusing!

 

3. Interest - this is complicated. You need to decide what if you are going to claim back for yourself. You have a choice of:

a/ claiming your charges & the basic 8% interest (this is Stat s.69). This is the court guidelines & probably results in your claim being settled fastest.

b/ claiming overdraft interest & basic 8% interest. In this you are claiming back what you have already paid as interest on those charges. Personally, i found this too complicated to work out so gave up!

c/ claiming back interest at the contractual interest rate of approx 30% (check on your statements) instead of 8%. (This was the option i went for, and which I won by default).

 

I suggest you read up on different threads to make your decision. Each of these options have their pros and cons but you need to remember, this is your claim, and you have to choose what feels best/right for you.

 

I realise I'm not giving you the answer you hope for, unfortunately no-one can tell you exactly what to do, but you need to read different threads and decide what route you want to take for YOUR court case, as at the end of the day - if yours should actually be the case that they go to court with - you have to feel 101% confident with your choice.

 

hope that helps

all the best

Apple x

[karhuss]

Thanks Apple, I had almost given up on everyone. I originally started on the moneyexpert site so used their calculator to work out the interest which was nice and easy. So, just to confirm when I file N1 tomorrow all I am claiming is £704 charges and £124.45 statutory interest. Feel much better now. Might join you with a grape juice now.

[AppleCrumble]

cool I'm just going down the offy . All the bottle here seem to have got mysteriously empty. :o :o

 

good luck

[karhuss]

Funny, same thing has happened here. Must be a ghost! Will keep you posted. Thank you!!!!!!!

[Mistermind]

When you ring Cap One you would be talking to telephone monkeys on Minimum Wage, maybe with incentive payment for performance, i.e. how much they can squeeze out of you. They will try everything to browbeat you into giving up, if they fail then they will try to upset you, so either way you would be discouraged.

 

Suggest you perform all communications in writing, they cannot see your nerves if you use CAG template letters. If you have no printer at home, then I can understand it is hard to learn everything by sight and hold it in your head. CAG has a "buddy" system to help first-time litigants who are totally flummoxed, see if there is anybody in your post code area who has time to guide you through -- http://www.consumeractiongroup.co.uk/buddy.php. However everybody is busy with their own life, perhaps you might like to offer a potential "buddy" a drink for his/her time.

 

Check out http://www.consumeractiongroup.co.uk/forum/egg/ . Egg was one tough cookie, nobody could beat it until last November, now everybody can beat it into an omelette.

 

When you got penalised with a £20 charge, every subsequent month you were charged interest (perhaps at 1.85% per month). If the £20 was unlawful, then this Contractual Interest was equally unlawful. Over 4 years, one penalty of £20 will have accrued unlawful Contractual Interest of about £33 -- the accumulated unlawful interest finished up larger than the penalty. By the looks of it using Excel to work out C.I. would be too much for you.

 

If you cannot find a "buddy" and decide just to claim 8% Statutory Interest, then over 4 years your £20 would have accrued only £6.40 interest, so quite a difference. If you want to settle for 8% per annum, there is no need to claim for it, the judge will award it to you.

 

However, refuse to settle unless Cap One offers to pay your 8% interest. Or else you drag them into court. You do NOT need to go to court, you only need to threaten to go to court. But your letter needs to be convincing. They are more scared of you than you are of them, and you cannot see them for dust when they run from court. After all, Irish banks charge £3, not £20 or £12. How can Cap One possibly stand up in court?

 

You can do it, 6,000 members have done it, almost every one learning Small Claims Court procedure for the first time, reclaiming no less than £10 million.

[karhuss]

Thanks Mistermind for the advice. I would like to go the the CCI. Is it too late as all my letters to Cap One asked for Statutory interest. I received another letter from our friend Mr Udy this morning a week late from their LBA deadline requesting that he would like to investigate this matter which could take him 4 weeks. If it is going to take more than 4 weeks he will let me know. Can I try for CCI through the court or would I have to start all over again?

[ukaviator]

You can send your LBA, saying that you are now going to claim CCI, due to reading up on information on the internet and national press reports.

Meanwhile get your spreadsheet ready to send them.

[karhuss]

Do I give them another deadline then as there original LBA deadline was 20th April. Also do you have a link for the spreadsheets?

[karhuss]

would anyone be so kind as to explain to me how to work out the cci with cap one. I found the spreadsheets but these stae that they are not for credit cards.

[ukaviator]

Hi Karhuss.

 

We are using these at the moment. You will have to register a couple of details first, but they do work well.

 

VAMPIRESS'S CHAMBER

 

On your statements you should see figures like :

 

1.850% for purchases and 1.904% for cash. . . or simular figures, left hand side below your monthly transactions. What some people do to make it easier for compounded contractual, is add the figures together and divide by 2 for an average.

 

So : 1.850 + 1.904 = 3.754% -: 2 = 1.877%

 

Type that into this calculator at the bottom and it will give you the rate you need for your spreadsheet. This figure is what they have charged you as an APR..

 

http://www.zen122856.zen.co.uk/CompoundSheet_v1.9.xls

 

Uk

[karhuss]

my purchase and cash interest is actually worked out in the transaction column not giving the actual percentage, eg, purchase interest on 6 Nov = £1.74, Cash interest on on 6 Nov = 2.82. I am using Vampires No 13 spreadsheet so am confused. Sorry, again.

[ukaviator]

Is there nothing at the bottom left of your transaction part of your statement?.

[karhuss]

no, nothing.

[karhuss]

my apologies, its underneath the transactions. Cash withdrawal interest 2.074%, purchase interest 2.008%.

[karhuss]

next problem is that they didnt send me my statements but a list of the charges so I wont have all the interest rates, only the statements that I have.

[ukaviator]

So they have'nt complied with your S.A.R.?... There is a letter in the Templates Library to send to them if they have'nt sent you your full data as requested under the Data Protection Act . .

 

I think you need everything they have to be able to claim your charges properly.

[karhuss]

You are a saint for the advice UK. I am going to check the statements that I already had and see first if I have all the details.

[ukaviator]

I read back to your first post, and i'm not sure if you have actually asked for everything from them. I would get this first.

 

Uk

[karhuss]

do I have to start the whole process again? Perhaps I would be better just going for statutory interest as my N1 was typed ready to take to the court today. How much more money do you estimate that we are talking here?

[ukaviator]

Do you have all of your charges, overlimit fees, late payment fees? ..

 

If so and you have worked out the interest then file your N1..

[karhuss]

yes everything is ready but with 8% stat interest. I think I will just cut my losses with this one and get on with it. I will make sure that I go for the CCI with Barclaycard who have just sent me statements from 2004 and asked for a further 6 weeks for microfilm data.

[ukaviator]

Are you sure?. . Is there a big difference?

[karhuss]

Don't understand UK?? Is there a big difference?

[karhuss]

Uk, do you mean there is a big difference. I am going into town and don't know whether to file N1 claim or not. Any advice greatly received. My concern is that I sent the LBA and deadline is well over. Would I have to give 40 days for SAR again and then another 14 days for Return of charges. Also, I doubt it but what if they paid up for the original request of £824 in the meantime.