Good job too as the cheque arrived today Very impressive turnaround time - 6 weeks. Well done MBNA

Yes, I'm definitely sticking with it to be fair.

Woah, that's interesting - that's pretty much near enough what they came up with Using 22.95% in the FoSrunning sheet = 3368.61 (PPI 1681.44 Compound interest 1687.17 Their offer = 3354.57 (PPI 1568.40 Compound interest 610.05 SI at 8% 1176.12) So really my query is how they've come up with 8% SI when my account never went into credit as clearly I'd need to declare this to the taxman, when I would argue SI shouldn't even be part of the offer.

Just seeking a point of clarification. I was charged two separate APRs - from 29Nov99 to 7Jul03 it was 15.9% From 8Jul03 to 31Aug05 (termination date) it was 22.95% Should I do two separate FOSrunning spreadsheets, one for each period, carrying forward the totals from the first spreadsheet (29Nov99-7Jul03) to the start of the second spreadsheet ?

So for me it looks as if their compound and PPI figures are wrong, and their SI is too high. They're about £1,400 out.

Ah right, okay - so I need to write back to them with my figures then, you think ?

I've added the final figure of PPI plus compound interest which I make 3063.35 to the statint spreadsheet and the date of the last statement 8 Aug 05 which adds a further 1680.12 at 8% However, I thought the 8% would only be added if I took the matter to Court or if the balance went into credit (which it never did) ? My figures from using the FOS running spreadsheet (using the last statement date of 8 Aug 05) were : Total cost of PPI = 1681.44 Compound interest = 1381.91 Stat interest = NIL TOTAL = 3063.35 However, MBNA have come up with completely different figures Total cost of PPI = 1568.40 Compound interest = 610.05 Statutory interest = 1176.12 TOTAL = 3354.57 I don't know for the life of me where they've got that statutory interest figure from. I may re-do my calculations and take off the charges they reimbursed me in 2006 - I suppose that may make a difference, but it would never have been enough to go into a credit balance as far as I can see. But my point remains - if I'm following the FOS guidelines, then would I even have a claim for the statutory interest ? I thought this only came into play if I went to Court ? Help !

So I can't claim for any interest from the date they sold it then (August 2005 to date) ? I suppose it makes sense, but I feel a little bit deflated about that....

The account was sold by MBNA to Wescot in August 2005. It is unclear whether MBNA terminated the account at that time, but I assume so as I have had no statements since that time.

Anyone ?

The account defaulted and was terminated (allegedly - I never got a default or termination notice) in August 2005 and was re-assigned to Wescot. They tried to pursue me for the debt through County Court, failed to comply with the Court's direction and the claim was struck out. They have since confirmed the case has been closed and they will not be pursuing me for it again. So would I not have a claim for interest from August 2005 to the present day, because the offer only includes interest up to August 2005 ?

Mind you, it doesn't explain how part of their award includes £1.1K at 8% unless they took into account the account charges they refunded to me in 2006. I suppose that's possible.

Aha, using FoS running v101 spreadsheet I get near enough the same as them. Darn it, if only the other spreadsheet I had used had been accurate - got my hopes up there ! Oh well, at the end of the day £3.3K is still a result, and they are sending me a cheque (rather than offsetting against a debt they sold)

I've had a letter this morning confirming MBNA have upheld my PPI complaint, but their calculations seem a bit skew-wiff. They have calculated an amount in the region of £3300, but the amounts are all wrong. The total amount of premiums they state is about £100 short, and the interest is way out in comparison to the figures calculated using the bezzycap1 spreadsheet, about £5000 out (this is a very old PPI claim going back to 1999). Interestingly they have added 8% interest on some part of it. They have offered me the amount in full and final settlement, but clearly I don't agree with their calculations. Is it worth me asking them to justify their calculations, and send copies of the spreadsheets I have used. Or should I refuse their offer and just head straight to FOS ? Whilst £3K is not be sniffed at, I think they're way short

Complaint upheld, apology received for the two letters sent in error and, more critically, 'the decision was then taken that the account would be closed on our system and no further contact would be made to you'. They didn't actually tell me that any time, but this is the outcome I wanted, so I'll stick with that, thanks They also stated that the account defaulted in August 2005 (I wasn't ever told this by anyone) so that should have dropped off the record now (I'll do an Experian check). Result. Right, now for my PPI reclaim then.....