Nicol V MBNA ***Settled***

[nevos]

Hi Adinicol: Subscribed to your thread as Im after MBNA also. They added 12K to my debt and then sold it.

 

It may be better for you to ensure all communication is in writing and recorded delivery. If you offer to talk turkey and they decline, this will go in your favour.

 

It would be helpful to others like me for example, if you posted up the letters with contact names and addresses at MBNA.

 

Good luck.

[iwannabedebtfree]

just for you nevos....the prelim:

 

MBNA Europe Bank

Customer Assistance Department

PO Box 30

Chester

CH4 9FD

 

REQUEST FOR REPAYMENT OF CHARGES

 

Dear Sir/Madam,

 

CARD/ACCOUNT NUMBER: xxxxxxxxxxx

 

 

My request

I am writing to ask you to refund to me the charges which you have levied from my account over the last four years.

I now understand that the regime of fees which you have been applying to my account in relation to direct debit refusals, exceeding overdraft limits and so forth are unlawful at Common Law, Statute and recent consumer regulations. If you say that they are not, then will you please demonstrate this by letting me have a full breakdown of the costs to which you have been put by as a result of my breaches, in order to reassure me that your penalties really do reflect your costs.

Additionally, it has now been confirmed that your particularly high level of penalties are considered to be unfair per se by the OFT who reported on the 5th April 2006 and are therefore presumed to be unlawful in the absence of specific proof to the contrary.

 

Your responsibilities

I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

 

I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.

I consider that your repeated representations that your charges are fair and reasonable are deceptive and that they have deceived me into agreeing to pay them.

Your concealment of the true nature of your charges has prevented me from asserting my right until now.

 

 

What I require

 

1. I calculate that you have taken £714.00 plus £689.31 in interest (both compounded and contractual) accruing on a daily basis (of the rate 0.076%) until the matter is settled or court action is taken, whichever occurs first. I enclose a schedule of the charges which I am claiming with this letter

 

2. Additionally, you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniosities caused directly by the taking by you of penalty charges which you had applied unlawfully to my account. I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.

3. I also request that MBNA considers the undue stress and anxiety it has caused me over the past 18 months, and considers making an additional gesture of goodwill to me. I will note that for many years to come my credit score will be that low that I cannot get credit with major companies. Had MBNA not forced me into a pro-rata arrangement I would not have defaulted on other loans and credit agreements.

I am currently threatened with court action by one creditor, all at the hands of MBNA and its illegal charging policy. Therefore, I require compensation of £586.63 to cover arrears accrued since MBNA forced me into an arrangement to pay, that should never have occurred had MBNA not charged me such phenomenal amounts in charges. I am aware that such a request is at the judge’s discretion; therefore I am willing to be a test case for the many to come. I will also be asking for an order of disclosure from the courts for MBNA to disclose their true costs relating to charges if it is that you wish to challenge the validity of my argument.

 

4. In total I am requesting you refund me £2050.94 in charges, compounded and contractual interest and compensation for MBNA’s unlawful charges.

Letters x 4 @ £6.75 each = £27.00

Postage x 4 @ £1.00 each = £4.00

Charges = £714.00

Interest paid @ 16.9% = £195.33

Contractual @ 27.9% = £493.98

Compensation = £586.63

 

Total £ 2050.94

5. Also, it is clear from the data MBNA supplied that I can understand, that the payment protection cover I took out did not protect me as a consumer, instead it protected MBNA. Please could you explain why when I was unable to meet monthly payments, the protection cover never paid the monthly minimum payment, instead it made a small contribution.

I would ask that MBNA openly disclose how the payment protection cover is:

a) taken on a monthly basis, the amounts taken, how this amount has come about, and where the amount taken is stored, and whether there is interest earned on the amount;

b) how it is paid when a consumer cannot meet their monthly payments, how it is worked out how much to pay, what happens if the protection cover does not meet the monthly payments.

I would ask that this information is openly disclosed so I do not need to request an order from the courts for disclosure.

 

My targets to resolve this matter

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

 

I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive payment.

 

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

 

After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline.

 

 

Yours faithfully,

[iwannabedebtfree]

LBA sent on 2/1/07:

 

MBNA Europe Bank

Customer Assistance Department

PO Box 30

Chester

CH4 9FD

 

 

LETTER BEFORE ACTION

 

Dear Sir/Madam,

 

CARD/ACCOUNT NUMBER:

 

I now understand that the regime of fees which you have been applying to my account in relation to late fees and over limit charges, are unlawful at Common Law, Statute and recent Consumer regulations.

 

I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

 

I am frankly shocked that you have operated my account in this way as I had always reposed confidence in your integrity and expertise as my fiduciary.

 

I calculate that you have taken £714.00 plus £ which you have charged me in interest for the sums which you have taken, accruing on a daily basis (of the rate 0.076%) until the matter is settled or court action is taken, whichever occurs first.

 

I understand under the implied principle of mutuality and reciprocity within contract law that it would be fair to charge contractual interest compounded at a rate of 27.9%. If you can provide me with an actual figure and are able to show how you came to that figure I will accept that figure. Please see attached breakdown of charges.

Additionally, you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.

 

In addition to full payment of the sum mentioned above, I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.

 

I also require MBNA to consider making a goodwill gesture of an undisclosed amount for the distress and anxiety caused over the past 18 months. Not only was I forced into an arrangement to pay; I was also told by MBNA debt management team that I would have to offer pro-rata payments to all my other creditors, thus defaulting on all my agreements. Had MBNA not operated such a policy of penalty charges (and charging interest on such penalties) at such a high rate, I would not have been in a position of not being able to pay.

 

I am now stuck in a situation where I am unable to get credit with any major financial institutions, I am penalised by going to smaller lenders with higher interest rates. My bank, if which I have been with since 1997, refuses to promote my solo debit card to a switch card because of this poor credit rating.

 

Had MBNA not enforced the pro-rata system to such a degree that I defaulted on other credit agreements I would not be in the situation I am in. Just to show you an example of the distress and anxiety I suffered, I had to sell electrical goods on eBay just to be able to make one month’s payment.

 

As per my previous letter, I am currently threatened with court action by one creditor, all at the hands of MBNA and its illegal charging policy. Therefore, I require compensation of £586.63 to cover arrears accrued since MBNA forced me into an arrangement to pay, that should never have occurred had MBNA not charged me such phenomenal amounts in charges.

 

I am aware that such a request is at the judge’s discretion; therefore I am willing to be a test case for the many to come. I will also be asking for an order of disclosure from the courts for MBNA to disclose their true costs relating to charges if it is that you wish to challenge the validity of my argument.

 

In total I am requesting you refund me £2050.94 in charges, compounded and contractual interest and compensation for MBNA’s unlawful charges.

 

Letters x 5 @ £6.75 each = £33.75

Postage x 5 @ £1.00 each = £5.00

Charges = £714.00

Interest paid @ 27.9% = £676.17

Compensation = £586.63

 

Total £

 

I require repayment in full of the ?/??, removal of the default notice, and the goodwill gesture. If you do not comply fully within 14 days, I shall begin a claim against you for the full amount plus interest, plus my costs, without further notice, I will also request that the court considers the level of payment they wish MBNA to pay for the distress caused.

 

 

 

Yours faithfully,

[iwannabedebtfree]

nevos

 

the favoured number is 01244 672628 and ask for customer advocate department. I have to admit im only half-hearted with my MBNA claim, im just sending off the letters, i have one more letter to send in 14 days which is another LBA as i made an error on the interest, i have the new spreadsheet that works interest out a lot better, and it works everything out at a certain percentage, in my case 27.9%, however my old spreadsheet worked out at 16.9% then compounded interest at a different rate for some reason, so i want to give MBNA the benefit of the doubt by knowing exactly what i am offering.

 

I did try on the telephone to sort things out but they arent for talking so nevermind i will leave it in their hands until the 16th.

[poppynurse]

I think you should remove your card number!!!!!!!!!!!!!!!!!!!!!!

[iwannabedebtfree]

ha ha yeh sorry poppy forgot about that!! im fortunate in as far as that number no longer exists , but yes my error and advice to others check your personal details before posting, dont be like me!!

[nevos]

Hi Nicol & Iwanna, thats great! Thanks again.

 

I am I wrong in thinking you can only reqest the standard 8% or contractual interest not both, I read in many threads that POC's say in the alternative 8%.

 

I dont think they will want to speak to me as they added 12K then sold the debt however, wait and see lol

[iwannabedebtfree]

Nevos you are right in thinking it is one or the other, sadly it is not both!

[TUTTSI]

I claimed from Cap One the monthly interest rate x 12 divided by 365 and multiplied by the number of days the charge was debtited . I called it simple interest and they paid it all. Compunded is a lot more but you would have to work out the spreadsheets.

Good Luck

DS

[nevos]

Dsilver: The monthly rate being?

[iwannabedebtfree]

the rate of interest at what you are being charged nevos, for example you MBNA card may be at 16.9% etc however they always charge cash advances at a higher interest rate, usually between 24 - 27%. i would ring MBNA and ask them what is their current interest rate is on cash advances on your account.

[TUTTSI]

the rate of interest at what you are being charged nevos, for example you MBNA card may be at 16.9% etc however they always charge cash advances at a higher interest rate, usually between 24 - 27%. i would ring MBNA and ask them what is their current interest rate is on cash advances on your account.

 

I took the rate of interest from each of their monthly statement that corresponded with the charges.

Hope that helps you.

DS

[nevos]

Hi Iwanna and Dsilver, many thanks helps me a lot as im a new kid on the block. When people mention interest i ask myself is it contractual or the standard 8%

 

I spend my entire day and most evenings on here hehe im an old sado now

Im kind of an addict though .

[TUTTSI]

So not to get confused I did not claim the 8% interest - as I said I kept it simple. In my case the interest came to loads.... and I was happy with that. You really have to go with your thoughts and as you say after you have read other threads and make your own mind up how you want to proceed. A good idea is to look at the spread sheets and lay out your charges with dates and see how it looks for you.

Good Luck

DS

[TaylorMade]

Nice to see so many people giving MBNA a hard time Any chance of a look and a few comments on my latest letter over at:

 

http://www.consumeractiongroup.co.uk/forum/mbna/10616-taylormade-mbna.html

 

If anyone has solved the 'cumulative interest' spreadsheet without full statement details to work with, then I'd love to hear from you too. [Thanks for your input Adi - but unless I'm reading wrong {OK - not impossible } I can't use the same spreadsheet as you withoug monthly balances...]

 

Sorry for diving in, but there's a lot of activity on THIS thread

[iwannabedebtfree]

taylormade...i now have the 2.8 version...but i still think you need your statement details.

[iwannabedebtfree]

well tomorrow (16th) is d-day, so spoke to someone at MBNA today who informed me they wrote out on the 13th so i should get a letter in the next few days, however, she was unwilling to discuss the letter, even though i advised all i wanted to do was end the situation.

 

Buggers charged me 12 quid for a cancelled direct debit even though they were instructed to cancel it! and they didnt take the 12 quid off after they advised they would!

[iwannabedebtfree]

today shud be the day i get a letter from MBNA - and surprise surprise it hasnt arrived!! - imagine if i was like that with sending payments they wouldnt like it!!! quick call to them and the two people are conveniently in a meeting and will call me back at some point, which part of the sentence " i only want closure and to be back within my terms and conditions" do they not understand??? oh well i wait in anticipation for a telephone call!!

[iwannabedebtfree]

...so after all this time, the letter has arrived!! they think as a gesture of goodwill £381.00 is a nice figure...which will be credited to my account......in march....as long as i go away and crawl in my hole again!!!

 

"if we do not hear from you within eight weeks of the date of this letter we will assume that the matter is closed"

 

Dear MBNA - we all know what assuming does!!!!

 

I would have copied the letter onto the thread but sadly it really doesnt say anything else that other people's letters say, its just a cut copy and a pasting exercise for school children, coupled with my personal details! Didn't answer any of my questions or remarks posted in the LBA but hey ho more fool them!!

[iwannabedebtfree]

16 January 2007

MBNA Europe Bank

Customer Assistance Department

PO Box 30

Chester

CH4 9FD

WITHOUT PREJUDICE

Dear Mr Theobald

Re: Letter Before Action – 5xxxxxxxxxxx

I reply to your letter dated 12 January 2007 and received on 16 January 2007.

Firstly, I must advise that your offer of £381.00 will be accepted as a PARTIAL SETTLEMENT ONLY. I must say I am also shocked by MBNA’s tactics of not crediting the above amount to my account until March, which is roughly in eight weeks time, the same eight weeks you write about in your letter:

“If we do not hear from you within eight weeks of the date of this letter we will assume that the matter is closed”

So in understanding further what MBNA is implying is if I shut up and be a good customer and not reply to your letter you will give me money?

Your letter fails to respond to many of the issues in my letters, I see page one of the letter is the same as what other customers receive, and indeed there is a copy circulating the internet. I note the only difference between my letter and the ones seen previously is my personal details and the offer you have made.

You remark that my account is on a “courtesy reduced payment arrangement”, you obviously have not read my letters otherwise you would have not made such preposterous statement. The reduced payment arrangement is not a courtesy, it was something purported onto me to prevent legal action by MBNA. However, I do note that the fees and interest have been suppressed, hence the low amount for which I am requesting MBNA return to me.

You have included a copy of penalty charges in your letter, yet you have made no comment in relation to them, one can only assume that this copy is for ease with my court documents.

Once again as per my previous letters, I calculate that you have taken £714.00 plus £ which you have charged me in interest for the sums which you have taken, accruing on a daily basis (of the rate 0.076%) until the matter is settled or court action is taken, whichever occurs first.

I understand under the implied principle of mutuality and reciprocity within contract law that it would be fair to charge contractual interest compounded at a rate of 27.9%. If you can provide me with an actual figure and are able to show how you came to that figure I will accept that figure. Please see attached breakdown of charges.

 

Additionally, you have entered a default notice against my credit record. This default occurred merely in respect of unlawful charges levied by you, or was the result of impecuniosity caused directly by the taking by you of penalty charges which you had applied unlawfully to my account.

 

In addition to full payment of the sum mentioned above, I require that you remove the default entry from the register. Please note that mere correction or amendment to the entry will not be acceptable.

As a gesture of goodwill I accept that taking court action against MBNA for compensation may seem extreme, therefore, I have decided against including compensation in my court papers.

Letters x 6 @ £6.75 each = £39.50

Postage x 6 @ £1.00 each = £6.00

Charges = £714.00

Contractual @ 27.9% = £689.36

Minus partial settlement = - 381.00

 

Total £ 1067.86

 

I require repayment in full of the £1067.86, removal of the default notice, and the goodwill gesture. If you do not comply fully within 14 days, I shall begin a claim against you for the full amount plus interest, plus my costs, without further notice, I will also request that the court considers the level of payment they wish MBNA to pay for the distress caused.

 

 

Yours faithfully,

 

 

 

 

Mr Adrian Nicol

[TUTTSI]

Hi, My husband had his claim settled today with MBNA and all the money has they say gone back into his account. That will reduce his balance by half. Thats a result!

All the best and hope that they settle your claim soon.

DS

[iwannabedebtfree]

that is a result DS, im ringing them tomorrow telling them to stop being stupid n get serious with negotiations!

 

glad to see one of us got some money out of them!

[iwannabedebtfree]

it may be windy outside but im a very very very happy camper!! have MBNA paid up??? hell no, do i have the money for my court claim..hell yeh!!!!!

 

so as its windy, rainy, and no doubt the b&**er of a roof could fall off, im happy knowing that i have the money to go to court and sort the situation out. I did infact send off to the financial ombudsman but instead i am going to go to court. Oh the smile on my face, it makes life so worthwhile at times!!. Incidentally tho, and very sad to read about JaMorgan who lost her case against Kensington, will have to donate to her fighting fund when i get the time.

[iwannabedebtfree]

on a slightly sour note...... MBNA have paid up!!! charges plus interest at 24.9% will be put into my account next week. I say slightly sour as i was looking forward to going to court. There is still the PPI outstanding which hopefully will be rectified with the sending of a CCA request and SAR as i sent them this morning

[MARTIN3030]

Good result in part.

You may yet do the rest too.

BBC news yesterday reported on the many banks and other financial services providers who are being fined millions by the FAS for irregularities with ppi including failing to give proper advice and instructions to customers.

I will see if I can get you more info.

Link pmd to you.