BF v Cap One

[jax007]

Re: BF v Cap One

Bud

Superb letter (as ever)

Can this be used for all credit card claims (obviously with the appropriate editing to suit the individual claim)??

jax

[Budgie]

Re: BF v Cap One

It needs knocking into shape.

Will have a go later on today.

It's nothing special just a standard preliminary letter adapted to suit Blooming Flower's particular claim.

Budgie

[Budgie]

Re: BF v Cap One

Here you go Jas,

I didnt change much, its more important to get this one off in the post than for it be be perfect.

You just need to double check figures, I already sent you the spready.
As you know I have been thinking a bit about the interest rate ( 34.9% is actually the APR, the applicable rate is 30.34% ) however, for the purposes of a prelim letter I dont think it matters very much.
They are not going to take you seriously until you file at court so you could probably just send a prelim letter on a post card for allthe effect it will have at this stage.

Budgie XXX





Account No: xxxxxxxxxxxxxxx

Dear Sir/Madam

It has come to my attention that the charges you have levied from my account for breaches of contract by way of exceeding my agreed credit limit, late payment, card misuse, etc. are unlawful.

It is my belief that these charges bear no relation to the costs to which you were put as a result of my contractual breaches.
This being the case, the charges levied from my account amount to contractual penalties which are irrecoverable at common law. Even if there is a clause in the terms & conditions of the account that states that penalty charges become payable for breaches of contract, such a term would be Invalid under Sections 5 thorugh 8 of the Unfair Terms in Consumer Contracts Regulations 1999.

You may consider that since some of the charges were levied more than six years ago, part of my claim may be time barred under the Limitation Act 1980, and you might want to rely on this to dismiss my claim. However, please be advised that should we not reach an agreement over repayment, I will proceed with the claim under either:

s.32 (1)(b) of the Limitation Act 1980 on the grounds that I could not reasonably have discovered the your deliberate concealment of the facts relevant to my right of action before the report of the OFT was published in April 2006, or alternatively,

s.32 (1)(c) of the Limitation Act 1980 on the grounds that the payments were conceded on the mistaken belief that the said charges and interest thereon did not amount to penalties and that I could not reasonably have discovered the said mistakes before the OFT report was published.

The charges you have levied total £761.00. I have also estimated the equivalent amount of interest that you have levied on my account as a result of these charges totals £63.13. These figures are detailed in the attached spreadsheet.

Since opening the account I have actually made payments to you totaling approximately £650. I believe that you normally apply Customer payments firstly to default charges and interest balances so in effect you will have applied the £650 I have paid you against the total of charges and applied interest described above.

You are currently profiting by charging 34.9% APR for re-lending my money. Indeed you have been unjustly enriched by way of profiting from re-lending money that was rightfully mine. Further you have denied me the opportunity to invest funds you have unlawfully taken, and denied me the economic benefit of these funds in the first instance.
I have therefore applied the same rate to my request in accordance with current consumer contract legislation. Please note however that I have only applied this rate and calculated compound interest on the charges and applied interest which I have actually paid across to you.

I hereby give you 14 days in which to repay £761 in unlawful penalty charges plus £63.13 in respect of interest you have applied to my account in relation to these charges plus £5908.83 compound interest at the contractual rate of 34.9%APR which has only been calculated upon the charges and applied interest that I actually paid across to you. This makes an overall refund request of £6732.96. You may deduct the present account balance of £xxxxxxx from this amount and send me the residual balance of £xxxxxxxxxxxx via a cheque made payable to myself.

If I do not receive payment of the highlighted sum within this time, I will issue you a further letter before action and allow you an extra 14 days to refund me. If this further deadline passes I will commence legal action to settle this matter.
Please note that should legal action become necessary, interest will continue to accrue until the date of judgment or earlier settlement.

[bloomingflower]

Re: BF v Cap One

Here you go Jas,

I didnt change much, its more important to get this one off in the post than for it be be perfect.

You just need to double check figures, I already sent you the spready.
As you know I have been thinking a bit about the interest rate ( 34.9% is actually the APR, the applicable rate is 30.34% ) however, for the purposes of a prelim letter I dont think it matters very much.
They are not going to take you seriously until you file at court so you could probably just send a prelim letter on a post card for allthe effect it will have at this stage.

Budgie XXX


.

Thanxs for this Bud.. will now send the above Prelim asap. Cant say we are looking forward to dealing with CapOne, and after reading your thread it looks like it will go all the way to court stage.. Im really sorry to hear that they didnt want to settle (stoopid bleep bleeps). Im sure you will do well in court (more than us anyway lol ) as you have a good head on your shoulders and you know what you have to deal with.

I will check everything before I send it all off to CapOne .. Think I may just do what you suggested.. send it on a postcard !!! or better still.. a paper bag !!! , cos then at least I can put a rotten egg inside it !! :rofl:

BF xx

[Budgie]

Re: BF v Cap One

Jas,

You can make decision at court stage as to whether to go the whole hog with the restitutionary claim or accept the offer they will make you at that stage which will be for charges plus purchase interest plus stat court interest and court fees.

You won't have to put yourselves through the court process if you dont want to.

Rgds Budgie

[bloomingflower]

Re: BF v Cap One

Yes.. we may just consider that Bud.. but gonna see how it goes. Will discuss with O/h and go from there...at least we have a bit of time to reconsider where to go ...


BF xx

[bloomingflower]

Re: BF v Cap One

Hi All !

I think I better wipe the dust off my o/hs CapOne claim now, as Ive been very naughty not pursuing this, (been too busy with bloody Abbey LOL )

Hes at the prelim stage now, so I better get the prelim letter sent off to CapOne....
so.. here goes...





Bf xx

[Amethyst]

Re: BF v Cap One

Good luck honey

[WendyB]

Re: BF v Cap One

Don't panic BF, Crap one are a breeze. they will make you an offer as soon as you file at court. Whether you then decide to pursue for the CI is up to you.

[bloomingflower]

Re: BF v Cap One

Don't panic BF, Crap one are a breeze. they will make you an offer as soon as you file at court. Whether you then decide to pursue for the CI is up to you.

Hi Wendy !

I think we have both decided to just go for simple 8%.. If I'm being honest I don't think me and my o/h could be half as good as Budgie arguing the CI at court stage..he knows his stuff.. my other half works full time and also hasn't got any clue about his claims. This is why I have been pursuing all his claims on his behalf, but am still not that clued up myself about claiming CI...and could not argue it in court. and would just look like a prize idiot lol. I don't wanna pretend to know something if I dont (if that makes sense LOL )


Bf xx

[WendyB]

Re: BF v Cap One

Just go for the 8% then. When I did mine I did Ci then added 8% onto that when I filed at Court. And I got it all lol. But that was some time ago and obviously crap One were asleep at the time lol. But my original claim was only about £600, ended up with just over £1000 inc the 85 quid court fee. I wouldn't fancy the prospect of arguing CI in court either, you might as well stick with the dead cert quick fix 8% IMO. And it's quicker too! You'll have the money before Christmas.....

[Budgie]

Re: BF v Cap One

Jas,

You can make decision at court stage as to whether to go the whole hog with the restitutionary claim or accept the offer they will make you at that stage which will be for charges plus purchase interest plus stat court interest and court fees.

You won't have to put yourselves through the court process if you dont want to.

Rgds Budgie

Jas,

I have quoted the post I made earlier on your thread.

Reason for doing this is fairly obvious, it keeps your options open!

You are aware that I am currently awaiting judgment in my own Capital One claim. If I am succesful then you stand a very good chance of achieving the same result especially as your claim would be filed in the exact same County Court as my claim has been heard.

In any event Capital One will NOT settle your claim until you file a County Court claim. Once you have filed your claim they will make a settlement offer / forced payment based on statutory court interest ( 8% ) anyway. So you can decide to accept that offer when it is made anyway if you wish to avoid the stress of a Court appearance.

You haven't sent your preliminary letter yet so will have to allow 14 days for their response, plus a further 14 days for them to respond to your LBA. By that time the situation ( judgment ) with respect to my own claim will certainly be resolved and you could review things at that stage ( prior to filing your court claim ).

I don't wish anyone to get the opinion that I am trying to forcefully persuade you to embarke on a course of action that you don't wish to follow. I am just trying to give you some alternatove options to consider.


Budgie XX

[Budgie]

Re: BF v Cap One

Just go for the 8% then. When I did mine I did Ci then added 8% onto that when I filed at Court. And I got it all lol. But that was some time ago and obviously crap One were asleep at the time lol. But my original claim was only about £600, ended up with just over £1000 inc the 85 quid court fee. I wouldn't fancy the prospect of arguing CI in court either, you might as well stick with the dead cert quick fix 8% IMO. And it's quicker too! You'll have the money before Christmas.....

Hi Wendy,

How did your claim get resolved?

How did it come about that you received compound interest?

Can you let me have a link to a thread please ?

Regards Budgie

[WendyB]

Re: BF v Cap One

Hi Bud

I put in a spreadsheet for charges and CI, based on Simians spreadsheet I think it was. They offered me the usual £12 per charge, I said bugger off and filed at court, and added 8% onto the total I'd already asked for. They offered me the full amount about a week after the claim had been served, and then sent me their pathetic defence after I'd received their offer letter. My thread is on the crap One forum over here, and also OTR in the Crap One forum. OTR they said what I'd actually got was Debited Interest, but I'm not sure tbh. I wokred it out on the compound spreadsheet, asked for it, and got it as far as I could see. Can't get at the spreadsheets at the minute cos they're on my computer at work, but from what i remember, it was 620 charges, plus interest, plus 8% stat, plus £85 court fee, which came to £1026 altogether, and i had a balance of 28 quid or so, so ended up with a cheque for £998.00. The charges were only over about 18 months I think.

Here's the link to my thread OTR WendyB - v - Cap One ***WON*** - The Consumer Forums

and over here WendyB - v - Capital One ***SETTLED*** - Legal Beagles
It was odd because i did my OH's Crap One card right after, and got all charges pluss purchase interest. Iancognito did exactly the same as me at round about the same time, her OH got the CI, she didn't.

No dubt you'll be able to make semse of it and let me know what I actually did get Budgie.....

[Budgie]

Re: BF v Cap One

Thanks Wendy,

I will have a look at your thread and post there.

Sorry to hijack your thread BF but I thought it would be interesting for Wendy to expand a bit on her claim.

Budgie