Nickd and Egg card

[enaid]

Hi,

I have finally got through my statements from Egg and am preparing my case as I would like to claim the full ammount of interest taken from me. Have there been any ruling as yet?

Also what rate are you charging? I'm thinking of the 24.9% but can we also charge a cash advance fee of £3 per charge if the charge is illegal?

Nick

[Amy]

Re: Nickd and Egg card

How much are your actual charges?

24.9% is rather a high interest rate to choose. What is your reasoning behind using this rate?

[Tafflaff]

Re: Nickd and Egg card

Thats the same rate as I'm using, I always assumed protocol dictated charge them back the amount they charged you and eggs unauthorised borrowing interest rate is 24.9%, I took that advice off budgie, unless you know different amy?

[Budgie]

Re: Nickd and Egg card

Egg Card interest rates are 0% fixed

• on Purchases put on the Account until 1 January 2009 at an annual rate of 0% fixed until 1 January 2009, and thereafter at a standard variable annual rate of 16.9% or 19.9%;
• on Transferred Balances put on the Account until 1 January 2009 at an annual rate of 0% fixed until 1 January 2010, and thereafter at a standard variable annual rate of 16.9% or 19.9%;
• on Cash Advances at a standard variable annual rate of 24.9% if your APR is 16.9%(variable), 25.9% if your APR is 19.9% (variable); and
• otherwise, at a standard variable annual rate of 16.9% or 19.9%.

[Budgie]

Re: Nickd and Egg card

Sorry but I cannot go into too any detail ( for a few days ) regarding my Capital One claim, at least until the judgment has been officially handed down. But it's more :tinysmile_grin_t: than :tinysmile_cry_t:.

To overcome the limitations placed upon me because of the ongoing nature of my own claim I am actually in the process of preparing an updated guide to claiming back credit card charges and interest ( simple or compound ) and will post it up on the site tonight or tomorrow once I have tweaked one or two things which need adjusting following the receipt of my judgment. This guide is probably the best way for you to make a decision about the way to continue with your own claims.

Budgie

[Amy]

Re: Nickd and Egg card

Thats the same rate as I'm using, I always assumed protocol dictated charge them back the amount they charged you and eggs unauthorised borrowing interest rate is 24.9%, I took that advice off budgie, unless you know different amy?

It doesn't have anything to do with protocol, it does however have everything to do with whether or not you can prove your losses to the extent of 24.9%.

[Budgie]

Re: Nickd and Egg card

It doesn't have anything to do with protocol, it does however have everything to do with whether or not you can prove your losses to the extent of 24.9%.

Not totally true !

I agree it doesn't have anything to do with protocol.

However, if you base a claim on restitiution / disgorgement / unjust enrichment rather than damages for late payment of a debt then you would not have to prove your losses. You have to prove that opportunity existed for the defendant to become further unjustly enriched to the extent that you are claiming. It is then up to the Defendant to disprove the gains that you claim he has made.

Of course if you can also prove your losses are at an equivalent level as well then you are covered all ways.

[Amy]

Re: Nickd and Egg card

Could you point me to the case law that says one only has to prove "that opportunity existed for the defendant to become further unjustly enriched."

[Budgie]

Re: Nickd and Egg card

Of course I can.

For a start have a read of para 33, para 48 and para 102 of Sempra.

Budgie

[Amy]

Re: Nickd and Egg card

Paragraph 33 refers to premature payment, which is not the case here.

Paragraph 48 refers to restitutionary remedy - I can't see unjust enrichment to the tune of 24.9%. It was a card that was borrowed on at that rate and if the rate was felt too high then a different card with a lower interest rate could have been used.

Paragraph 102 deals with the repayment of the tax which was paid prematurely and payment (restitution) was therefore required for having the use of that money for the period of prematurity. Which again, is not the case here.

Again, I don't see how this applies to the use of a credit card.

[Budgie]

Re: Nickd and Egg card

Amy,

I suggest, out of courtesy to Nickd, that we move this discussion onto a new, seperate thread, at which point I would be pleased to respond to your last post.

Budgie

[nickd]

Re: Nickd and Egg card

Thanks guys!
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Does anyone have the letter or calculator to use to claim the 24.9%? My charges only add to £312 and are over a 3 year period.

Thanks

Nick

[Budgie]

Re: Nickd and Egg card

It's here Nickd Legal Beagles

But if you can wait till tomorrow morning.

I am just in the process of upating it and will post up revised version in the morning.

Will edit this post when I have done it.

Rgds Budgie

[nickd]

Re: Nickd and Egg card

Thanks Budgie.