MBNA PPI Unsecured Loans Eyes Wide Shut

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[alanalana]

Hello BRW,

 

This is the barcode link mentioned in my thread. I hope it is of use.

 

http://office.microsoft.com/en-us/publisher/HP101208141033.aspx

 

Regards

 

aa

 

PS had a response from my bank today just about to post on my thread after I get some legal advice on it.

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[alanalana]

Hello BRW,

 

how did you know it would be me posting first after that?

 

You are having a war out there but do not lose heart:)

your war is winable I see some of what you mean when the BBA letter to me stated we are not a regulator just a trade organisation and we have passed your complaint on to our colleagues at the RBS. My reply to the BBA will be posted soon. The banking industry is to use a nautical term (which will no doubt result in in box email from you) is lets batten down the hatches and ride out the storm. However these people do no understand what a storm they are about to face and especially in light of the Competion Commission preliminary findings.

 

I know this does not resolve all your concerns BRW but a fight is not a fight unless it is a really good fight and you will undoubtedly be on the winning side.

 

I know what they are like to a certain extent as you see my struggle trying to get them to comply with SAR.

 

I had another letter today from the FOS my case is now with a case supervisor (remember this is just for the failure to supply data).

 

keep up the attack and remember any titbits of info I find will come your way.

 

Regards

 

aa

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[lizzy40]

Thanks Banker_Rhymes_With,

 

A very interesting read!

 

Going off subject have you read The Grip of Death by Michael Rowbotham its about modern money debt slavery which we are all part of and destructive economic system. Makes your blood boil even more and want to fight back knowing what the banks get away with.

 

Lizzy

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[lizzy40]

Like wise, didn't have any knowledge how the financial sector functioned, it just shows you how many people out there just sign contracts under the assumption the bank and card companies are up standing institute’s who treat their customers fairly but little do we really know.

 

I had no idea how economics or the loan system worked this book has opened my eyes I do question its theory because it doesn't seem logical that banks are allowed to create money for loans out of thin air its just numbers how can this be legal? Would love someone to give me some feed back on this book?

 

I'm absolutely fed up with pay out pay out, the hole system is a struggle, which ever way you turn.

 

Lizzy

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[alanalana]

Hello BRW,

 

I am not sure if this will help or not it has surely helped me as my claim for £19K has just gone up to £22K on one claim and from £3.5K to over £5K on the other in all over £27.5K:rolleyes:

 

New Square Chambers - Interest Calculator

 

This was courtesy of another thread seen so many I forget who, but pats on the back.

 

If this is no good for you pm and I will find another source

 

aa

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[alanalana]

Hello BRW,

I know how it goes my mum is 83 on the 25th this month. She is failing but the family are rallying for her.

 

Good luck with the mathematical formulae. Have your tried E+MC2 ?

 

aa

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[alanalana]

Hello BRW,

 

Good luck with resolving the above. I just used the 8% statutory figure but only claimed from account open to account refinance or settled and of course I should be claiming from account opening up to present as the money was laid out as a single premium in each of my loan accounts. As they were mis-sold and no rebate shown on account refinance or settlement except for my last (current) loan which I cancelled PPI on as soon as I found out all about the mis-selling issue. Then I would suggest I should be repaid the PPI loan figure plus the interest on that plus the payments made over whatever number of months and then add on the 8% from account opening until claim is settled.

 

I will click the link stick in my favourites to have a look see when I get a chance.

 

I am not sure but if the figures as shown on the CCA are inaccurate then the Agreement would be incorrect and possibly unenforceable but I would check on the legal threads first.

 

Regards

 

aa

[alanalana]

Hello BRW,

 

OFT letter now on my thread. Comments welcomed (Good ones only):o:D

 

you choose

 

aa:rolleyes:

[alanalana]

Hello BRW,

 

see this link.......Agreement Enforceability

from......Itsme VS Welcome Finance

 

Not sure if you have seen this or are we ahead of the game?

 

aa

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[Tonka99]

Hello BRW

 

Have missed you for a couple of weeks hows the War ,

Reading this thread it seems you have your Loan details ,

I have nothing back on mine except to say they MBNA

have sold it to a nice DCA .

I sent them a SAR they are well out of time and I would

like to claim back my PPI as it didnt do me any good now did it:shock:

 

Have been really busy here hope to catch you soon

 

Cheers T99

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.

[citizenB]

Hello aa!

 

I've managed to get DualCalc working (here from the OFT), and have some results that may, or may not, tell me anything!

 

At this stage, I'm just looking at all figures to check for any additional information that may be useful. I shall be wanting the PPI Paid to Date back, but have yet to let them know this!

 

Right now, I'm just looking at all of the numbers, to see what errors I can see from there.

 

To re-state the actual Figures:

 

 

I then noted some basic maths problems with those, as follows:

 

 

 

DualCalc is a bit cryptic to use, to say the least! But I got it to make some sense by entering the Figures as follows:

 

Loan Amount = £25,000.00

Level 1 = £0 x3 (i.e. the 1st 3x Months no Payments)

Level 2 = £660.71 x1

Level 3 = £620.71 x59

Advance = £5,443.79 at Zero Time

 

And DualCalc does produce some figures, as follows:

 

Total Amount Advanced = £30,443.79 (agreed)

Total Amount Payable (TAP) = £37,282.60 (agrees with me, not them)

Total Charge for Credit (TCC) = £6,838.81 (they said £6,798.87, out by £39.94)

Period Rate (%) = 0.624824374046

Nominal Annual Rate (%) = 7.49789248855

Effective Annual Rate (%) = 7.76100289058

Annual Percentage Rate (APR) = 7.8

 

The figures do not tally, but are they far enough out, that is the question?

 

All I have from them was 7.7%, which may be OK looking at the Effective Annual Rate above, but may not be OK if looking at the Nominal Annual Rate above. But it looks like their 7.7% is within limits if I have read the rules correctly, and am getting valid results out of DualCalc.

 

Quick Update: I've noted that if I Press DualCalc's [Round] Button, the APR unhelpfully goes to 7.7%. That's no good, as it agrees with them! Not to worry!

 

At least I have DualCalc doing something useful, what it's telling me is the next issue! It's not the easiest bits of Software to use, and the Help Pages are great if you are having trouble getting to sleep at night! One look and my eye-lids slam shut!

 

Cheers,

BRW

 

BRW, I have just been reading through your thread as OH had a similar MBNA loan on which I am attempting to get information from them so I can make a claim for the mis sold PPI.

 

I just noticed reading the small print, he was charged £40.00 for the loan cheque, would that be the £39.94 you are out ? BTW, were you also charged £100 + for the telephone sale ?

[banker_rhymes_with]

Deleted...

Edited July 4, 2010 by banker_rhymes_with
Too many Trolls on CAG, too little support to fight them.