Capital one complaint upheld but......

[DAISYC3CJS]

Hi, I have just received a letter from Capital One saying they are upholding my complaint - that's the good news.

However, the letter also goes on to say if I am in arrears or over the credit limit, the amount will be offset against this so in other words, I probably won't get anything.

I am on a debt management programme on which they are included so I'm just wondering what the position is. Can they actually do this?

Any help appreciated before I send the form back to them.

Many thanks again and look forward to your comments

Daisy

[FlamingParrot]

Re: Capital one complaint upheld but......

Hi, I have just received a letter from Capital One saying they are upholding my complaint - that's the good news.

However, the letter also goes on to say if I am in arrears or over the credit limit, the amount will be offset against this so in other words, I probably won't get anything.

I am on a debt management programme on which they are included so I'm just wondering what the position is. Can they actually do this?

Sadly, the answer is yes, they can. If you are on a debt management programme and that account is included, that means it's in default, and any redress awarded to you can be offset against the debt, to reduce the outstanding balance.

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Thanks for your prompt reply, yes unfortunately I thought that may well be the case also having spoken to the debt management company. However, as you so rightly say, it will reduce the debt somewhat so I guess it's still worth it, every little helps, well helps the banks!

[FlamingParrot]

Re: Capital one complaint upheld but......

It will also help you, since you are paying this debt, you'll clear it more quickly.

Generally speaking, if your debts are in default but you are not making payments, then it makes little sense to reclaim anything, as in my case, I've got 3 cards with PPI but I haven't made a payment since Jan 2010 so I'm not reclaiming it. If you are paying, then you might as well get the balance down.

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Yes I can see what you mean and it's very frustrating. In this case some of my debts are being managed by a Debt Management Company where I have been making regular payments. I thought it was worth trying to reclaim the PPI just in case the money got sent to me. As you say it will reduce the debts. I have left these particular PPI claims (the ones with the Debt Management company to last to deal with). I've just gone another couple under way. Another is frustrating as I can't find any statements with the PPI on it, yet I'm almost 100% sure it would have had PPI - I'll carry on searching I guess!

[FlamingParrot]

Re: Capital one complaint upheld but......

Yes I can see what you mean and it's very frustrating. In this case some of my debts are being managed by a Debt Management Company where I have been making regular payments. I thought it was worth trying to reclaim the PPI just in case the money got sent to me. As you say it will reduce the debts.

As a matter of interest, are you paying the Debt Management Company for their services?

I have left these particular PPI claims (the ones with the Debt Management company to last to deal with). I've just gone another couple under way. Another is frustrating as I can't find any statements with the PPI on it, yet I'm almost 100% sure it would have had PPI - I'll carry on searching I guess!

You may have cancelled the PPI at some point, which is why you don't see it on the statements you have. If you need to get hold of statements, you should send a SAR.

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Hi thanks again for the prompt reply, much appreciated.

Yes the Debt Management Company I am using do charge a monthly fee which I believe is based on how much you per per month. For me it is and was worth every penny, as try as I might to negotiate with the banks at the time, I was getting nowhere and constantly bombarded with threatening letters and phone calls. This was at a time where I was extremely ill having being diagnosed with cancer and undergoing some pretty awful treatment. The banks were aware of this but still I got the couldn't care less attitude. This was back in 2007. So as said, this company negotiated with several companies on my behalf and eventually came to arrangements with them. I now pay a monthly payment which gets distributed.

Yes the SAR is a good idea and thank you for the reminder - this one will be last on my list.

Another thing I have just noted and which could be interesting is, the company I will send the SAR to is Bank of Scotland. I had two credit cards with them. Now I've just noticed on one of the accounts I have a statement showing PPI. If this PPI mis selling complaint is upheld, I am assuming this will be paid to me as this particular account no. does not appear on my debt management list. Do you think I am correct to assume this, in other words they can't use it to offset against another debt if I have one with them?

[FlamingParrot]

Re: Capital one complaint upheld but......

Hi thanks again for the prompt reply, much appreciated.

Yes the Debt Management Company I am using do charge a monthly fee which I believe is based on how much you per per month. For me it is and was worth every penny, as try as I might to negotiate with the banks at the time, I was getting nowhere and constantly bombarded with threatening letters and phone calls. This was at a time where I was extremely ill having being diagnosed with cancer and undergoing some pretty awful treatment. The banks were aware of this but still I got the couldn't care less attitude. This was back in 2007. So as said, this company negotiated with several companies on my behalf and eventually came to arrangements with them. I now pay a monthly payment which gets distributed.

No surprises there, the banks only care about their money, even though they make it out of thin air.

Good to hear the debt management company was of assistance in your hour of need, however, it's been quite a few years since then and there charities that do the same job for free, such as Stepchange and Payplan. Now you seem to have your creditors under control, you could consider the alternatives, bearing in mind the money you are now paying the debt managers could go towards your debts instead, and you'd clear them more quickly. There's little point in throwing money away when you can get the service for free, after all the negotiations have already taken place and payments agreed, you wouldn't have to go through that again.

Yes the SAR is a good idea and thank you for the reminder - this one will be last on my list.

Another thing I have just noted and which could be interesting is, the company I will send the SAR to is Bank of Scotland. I had two credit cards with them. Now I've just noticed on one of the accounts I have a statement showing PPI. If this PPI mis selling complaint is upheld, I am assuming this will be paid to me as this particular account no. does not appear on my debt management list. Do you think I am correct to assume this, in other words they can't use it to offset against another debt if I have one with them?

Is this account also in default even without being in your debt management list? If so, sadly the same principle would apply, the refund would go towards the balance.

[Angry Cat]

Re: Capital one complaint upheld but......

Two questions:

Did the Bank sell your account or, did it remain in-house?
When you became unwell, why didn't you claim on the PPI?

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Hi, yes I have thought about dumping the Debt Management Company, again it's on my to do list and will look into this and make a note of the companies you suggest. Many thanks for that. At the time there was another company I tried who suggested if I offered them a £1 a week or month, this would be acceptable. Well it actually wasn't and I would have been surprised if it had been.

I had already cancelled my PPI a few years before I was unwell..... --it happens!

A few of the banks have sold the debt on to companies i.e. Link/Moorgate although my payment remains the same. I also assume the account nos. stay the same?

re: Bank of Scotland Card - the statement I have, the card no. does not show on the list of Debtors, therefore I think I may have cleared this at some stage as I am not making any payments on it. If it wasn't cleared no doubt someone would have been on to me I reckon.

Same applies to my Halifax card, again this does not appear and I have one statement showing the card no. and the PPI - this card commenced in 1995 apparently. Likewise I am not making any payments on it so assume I cleared it at some stage.

Again look forward to your comments and thank you again


Daisy

[FlamingParrot]

Re: Capital one complaint upheld but......

Hi, yes I have thought about dumping the Debt Management Company, again it's on my to do list and will look into this and make a note of the companies you suggest. Many thanks for that. At the time there was another company I tried who suggested if I offered them a £1 a week or month, this would be acceptable. Well it actually wasn't and I would have been surprised if it had been.

A lot of people pay tokens of just £1/pcm if they are on benefits or a very low income. Acceptance of such low payments is not dependent on the company you use (you could make the offers yourself), but usually on production of an Income and Expenditure form showing that's all you can afford (and it you have, say, 15 accounts, you'd still be paying £15/month, so the number of creditors is also relevant).

I had already cancelled my PPI a few years before I was unwell..... --it happens!

That would explain why some of your statements didn't show any PPI on them.

A few of the banks have sold the debt on to companies i.e. Link/Moorgate although my payment remains the same. I also assume the account nos. stay the same?

Not always, some debt purchasers assign their own account numbers. I think the reason for the question may have been because sometimes it has been possible to reclaim and get the money paid back to yourself rather than going towards the debt, when the account has been assigned in absolute (sold) to a DCA.

re: Bank of Scotland Card - the statement I have, the card no. does not show on the list of Debtors, therefore I think I may have cleared this at some stage as I am not making any payments on it. If it wasn't cleared no doubt someone would have been on to me I reckon.

Same applies to my Halifax card, again this does not appear and I have one statement showing the card no. and the PPI - this card commenced in 1995 apparently. Likewise I am not making any payments on it so assume I cleared it at some stage.

You'd think, but that doesn't always happen, I've never heard about my Egg card, last paid in Jan 2010... ray:

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Hi, yes I realise that the reason my statement doesn't show the PPI is because I cancelled it, probably around the 2005 but will check via a SAR. It's interesting you say you haven't paid anything on your Egg card since 2010 - I can't understand why you've had no contact from anyone ? Not like banks not to drive people mad. However, I'm going to make a call to my Debt Management company just to check on the two accounts that don't seem to appear on the list just in case numbers have been changed, will be interesting!


Daisy

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Ok so I've just called the Debt Management Company and gone through the list and, as I thought the Halifax and one Bank of Scotland cards do not appear on there. These are the two I have statements for showing PPI and I'm on the case on both of these - now to sort the rest out!

Daisy

[Angry Cat]

Re: Capital one complaint upheld but......

Pity that you cancelled it back then, before you became unwell that it And yes it does happen, unfortunately.

So, are you saying that Capone did sell the account to a debt buying firm?

If so, I cannot see how they can off set your PPI redress from a debt that they no longer own...not logical!

[DAISYC3CJS]

Re: Capital one complaint upheld but......

Yes it was a pity when I cancelled it when I did but that's life I guess - no one ever thinks the big C can happen to them

Unfortunately, the two complaints that have been upheld, one is Mint (Royal Bank of Scotland) the other is Capital One - neither of these have been sold on, so it looks like all that will happen is that the debts will be reduced. However, when returning the form I have said I look forward to receiving their cheque to put me back in the position I would have been in had the policy not been mis-sold, though I think I will stand more chance of seeing pigs fly! Am almost certain the monies will go towards reducing the debt.

However, you have made an extremely valid and good point i.e., if a debt has been sold on, as 1 or 2 of mine have then yes, as you correctly say, it no longer belongs to them! So ho hum, wonder what happens then? From what I can see, it appears the larger debts get sold on but I could be wrong.

Daisy