Virgin/MBNA Credit Card PPI Claim - Advice Needed

[Tomatico]

Hi all,

 

This is my first post so apologies if this has already been asked.

 

I've had a Virgin Credit card for 10 years and would like to claim back the PPI.

 

As I don't have all my bank statements to work out the total PPI I've paid,

 

I'd like to send off a SAR request but I'm not sure where to send it.

 

Should I be sending it to Virgin or MBNA?

 

Whichever one it is, does anyone know the address to send it to, or point me in the right direction where I can find it.

 

Many thanks in advance,

 

Dave

[dx100uk]

Address is:

 

MBNA Europe LImited

Chester Business Park

Chester

CH4 9FB

 

FAO: Compliance Department

[Tomatico]

Hi all,

 

I'm looking to put in a claim with MBNA to reclaim my PPI but I have a few questions I'm hoping someone can help with.

 

I have a credit card with Virgin that I took out in September 2003.

 

I applied online but have no recollection of requesting PPI.

 

I put in a SAR and have received my pack.

 

Included is the details from my original application.

 

Against Payment Protection is a 1 which I'm assuming means yes.

 

Also included is the form I signed which is just a small tear off slip with no mention of PPI.

 

Even though the online application appears to have been ticked, should there be something else on the form that I signed? Is this sufficient to make claim?

 

Included in my pack was a list of all transactions upto the point the SAR was carried out.

 

I'd like to work out how to claim for but I'm not sure which of the calculators I should use?

 

Since I've had the card,

 

I've had a number of different interest rates.

 

 

What interest rate do I put on the spreadsheet?

 

The average or the most recent?

 

Or should I do a spreadsheet for each rate I've had?

 

Any help would be greatly appreciated.

 

Many thanks,

Dave

[ims21]

Many lenders used pre-ticked boxes with online applications and some you couldn't continue the process of applying if you un-ticked the PPI box. This effectively made it compulsory.

 

Also if you have not selected PPI anywhere on your signed application then that will help you too.

 

The fosRunningPPI spreadsheet is the ideal one to use. For the rate of interest just use an average of the rates they were charging you.

[Tomatico]

Hi all,

 

I've finally managed to go through my list of transactions from my SAR and have filled in the FOSRunning spreadsheet (a task I don't care to repeat that's for sure!). I was wondering if one of the PPI gurus would mind having a gander at it to make sure it looks OK? I've had several interest rates over the life of the card so have taken the average.

 

[ATTACH]42354[/ATTACH]

 

When I send off my PPI questionnaire do I send a printed copy of the spreadsheet too? Or leave it to see what they come back with first?

 

Many thanks in advance!

[dx100uk]

4 threads merged keep to this one.

 

yes you send the FOS CQ & the spready & a covering letter.

 

adapt these for the covering letter.

 

 

Dear Sir or Madam,

Re:

 

I am writing in relation to the above payment protection (PPI) policy which i believe was mis-sold to me in relation to my

I believe you have not treated me fairly for the following reasons;

· The PPI was added without my knowledge..

· You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter. If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

This letter is in respect of the above account that was issued by

Yours faithfully

or

The Complaints Department

[Lender’s address]

[Date]

Dear Sir/Madam,

Ref – policy number

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid.

I took out a £xxx loan/credit card at your [branch name] branch on [date] and also bought a payment protection policy which would cost me an extra £xxx over the life of the loan. [The name of the salesperson who sold me the policy is …] The total amount of my premiums plus interest is £ xxxx.

When I took out the loan, I was told that my application would be refused if I did not also buy a PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

Possible additional paragraphs – include any which apply to you

[i also told your salesperson that I had adequate insurance cover through a separate income protection policy.]

 

[i said I did not need the PPI as my employer provides a generous illness and redundancy package.]

[You are not allowed to make PPI a condition of taking out the loan unless you include the costs of PPI in the quoted interest rate, which you did not do.]

[in forcing me to buy this policy, you have also breached paragraph 8.6 of the Banking Code, to which you are a signatory.]

I do not believe being forced to buy this policy as part of the loan was a fair and reasonable obligation as I did not need this insurance and said at the time of taking the loan that I did not want it.

I am requesting a full refund of all my insurance payments, plus interest, which total [£ xxx].

If I do not receive a favourable response from you I will pursue this claim through the Financial Ombudsman.

Yours faithfully,

 

just be aware there are several threads here whereby its contested our sheets are rwong

though those MBNA do are wrong too.

 

dont blindly accept what they offer.

 

dx