Help With MBNA PPI

[MASAMP8]

I am now at the stage where i am ready to start my claim for ppi with MBNA.

I am a little confused having read here several conflicting accounts of how to go about working out the amounts.

 

So firstly its a credit card from 2003

I am self employed

It has PPI on it having already gone down the road of obtaining my account information from MBNA.

 

I am not sure which to use but from what i read if i want to claim for compound interest and willing to peruse it is should use CISheet v101.xls.

 

Now i have looked all over the old credit card statements and i can not see any reference to the interest rate charged.

But i do see a reference to a Mthly Int Rates .... 1.8735 %

 

Can anybody work out what the APR would be to add to the spread sheet.

 

If anybody can assist it would be great as im a complete no brainer when it comes to this sort of thing lol

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?372400-MBNA-PPI-Award-“Interpretative”-Calculations-(1-Viewing)-nbsp

[MASAMP8]

OK thanks for the link.

I took a brief look but will look more deep later tonight.

But i guessing not much point trying to work out claim till something is sorted.

[MASAMP8]

Just out of interest as no reply ... if i should hold tight in claiming back ppi or if i should carry on regardless.

I know there is some confusion regarding MBNA and the way the calculate but i am wanting to go for compound interest route.

Should i wait a little longer ??? Anybody

[dx100uk]

no idea ask on that thread

all the experts are there

 

dx

[MASAMP8]

oh sorry i thought this was where all the experts where ...

[dx100uk]

they are a little group that are excellent at MBNA stuff

 

far better you seek their expert advise

 

dx

[octonaut]

Ok thanks for the info ill try that post ... Im guessing its the post about how MBNA have been making up their own calculations .....

[MASAMP8]

Ok i dont know where i am and what i should do so i am going to start a new thread in the hope someone will guide me in the right direction.

 

Outline

MBNA credit card from 03 to 09 (default sold to Link)

I have what looks like i would say at least 95% of original statements and i also have information sent to me via SAR.

I wish to go down the compound interest route so first off i would appreciate which spread sheet is needed ... i have seen so man different versions i dont know which to use.

I know there is some sort of ongoing thing regarding MBNA calculations but i want to at least get the ball rolling and get started.

 

Please simple terms and if you could tell me the compound interest spreadsheet ....

[dx100uk]

two threads merged

 

 

please keep to one thread

 

 

dx

[dx100uk]

as detailed in the other thread linked already to you

ideally you should be using the running sheet

 

 

however

 

 

they are all here

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

[MASAMP8]

Yes i already seen this ... but i was asking what if i have 3 different APR over the 6 years

[dx100uk]

you use an avg

 

 

dx

[MASAMP8]

ok i will do that and fill it in ... If i get it done could someone just take a quick look at it and check i have done it right.

[dx100uk]

ofcourse

 

 

dx

[MASAMP8]

thanks a bunch

[MASAMP8]

Just a quick one .... in the spread sheet CISheet v101 do i just list the monthly PPI charges ??

[MASAMP8]

If someone would just take a peek for me and see if it looks right.

I noticed on the description given on the sheets of my transactions it says Posted Credit insurance fees but on the statements i have it says Payment Protection Cover

So i put the description as it says on the sheets provided in the SAR.[ATTACH]53578[/ATTACH]

[MASAMP8]

try again

[dx100uk]

yes that's ok

but you'll have to set the claim to date to when the card either stopped

or they froze int

 

 

from that date

 

 

take the total of that spready and put it in statint sheet for that date

 

 

you are entitled to 8% once they stop their int

 

 

dx

[MASAMP8]

ok so i have changed the date to the date of the last charge of the account .... that being 25/03/2009 and that changes the value to £3761.08.

"take the total of that spready and put it in statint sheet for that date"( im assuming that's what this means )

I then takes that value and then x it by 8%

 

Do i then just post the spread sheet off or is there a standard letter i need to send or do i just fill out the questionnaire mentioned

[dx100uk]

pop it in the statint sheet

 

 

on date 26/3/2009

 

 

you do a short covering letter

 

 

that

the spreadies

the FOS CQ

 

 

all go to MBNA

[MASAMP8]

so the statint sheet is that another spread sheet i have to fill out or is it the same spread sheet ... im confused

[dx100uk]

no diff sheet [looks the same - diff calc]

 

 

you are entitled to compounded interest at their rate whilst they charged it

 

 

when they stop their interest

 

 

you are entitled to simple 8% statutory interest on that whole claim total till the day they settle the claim

 

 

dx

[MASAMP8]

Thanks for that ....

 

Just out of interest can you advise on a problem i have.

 

The debt above has been sold to Link and they obtained a ccj .

.. so to cut a very long story short i was ordered to pay £10 per week.

 

I started paying this regular to the caerphilly office but they complained i was sending it to the wrong office.

 

I told them i was sending as per request of CCJ and if they wanted me to send another office to send a letter requesting and they did.

 

So for some time i have been sending to the embankment office by sign for £10 PO every month .

.. but have noticed November December & January payments have not arrived ..

.. all the post office say is send a form to chase it.

 

Should i start paying again to the caerphilly office ......