MBNA PPI

[rumpshank]

Just a little help needed

 

I have already read here and some months ago after finding some old MBNA statements sent a SAR and have received pages and pages back from them.

 

I have tried reading here several times but keep getting lost and distracted but the way i see it i can either do the simple 8% spread sheet or the compound interest spread sheet but understand there may be a problem getting anything back using that method ??? am i right.

 

If i decide either what to date do i enter ??? the date the account was closed ( well sold to Link where i am still paying back) or today's date

 

This is going back to 2003 when i had the card and being self employed i assume any PPI is worthless.

 

If someone could let me know i would be very grateful

[dx100uk]

well 1stly why are you blindly paying link anything

they are a DCA and have ZERO legal powers.

 

you charge compound int up until the day the OC stopped that

then take that figure and pop it into the statint sheet the day after as a whole sum.

 

the claim to date on the CISHEET will be the last day they [the OC] charged you at their int rate.

 

have you been getting statements from link?

as I bet they are charging you interest

 

expand on the debt history please.

 

[rumpshank]

Ok mmm right sort of got it lol ... do bear with

 

think i saw a post from one of your colleagues and what i did was loaded the cisheet with all the ppi transactions and did from date account opened 2003 to date account was sold to Link 2009.

 

I then took that figure and put it in the statint sheet from date account was sold to link 2009 to current day .... ??.

 

Now the ppi stopped being charged late 09/2008 and after that to 04/2009 it was just Finance charge ..

which im guessing that's the interest.

 

Ok so bit of history ...

like i said it was sold to Link 2009 at £3956.39.and they took it to court Jan 2012 …

i had contested there being no signature on the credit agreement as i was sure i applied online but they produced one and claim was awarded.

 

However i immediately i applied for a Variation order and my offer of £10 per month was accepted and i have paid it religiously since despite them sending me constant letters telling me i need to give them my total household income plus expenditure details of other creditors etc to which i just ignore and keep sending the £10.

 

They did however obtain a charging order .

[dx100uk]

yep seems you've got it right

 

is the debt on a jointly owned home, but the debt is solely yours?
 

[rumpshank]

Yes the debt is in my name only not my wife and yes the house is joint owned. 

I have a letter from the people who tried to help me when I had to go to court over the charging order ... I'll scan it and when I can work out how to block out bits I'll post it 

[dx100uk]

So it's only a restiction k.

That's why they keep pushing you

It's useless to them

As it's not a full CO

Worthless

 

Shame you lost the can claim. 

[rumpshank]

Could someone just take a look at the letter sent regarding my PPI when you have 5 mins.

when i submitted my claim I added all the ppi using the CISheet V101 and got a value £3733 i then added that to the STatINTshee v101 and got a total £6728.

 

I received a letter (attached) and have no idea how they have come up with the value but it is lower by a fair ammount.

Could someone take a look and let me know their thoughts and my options.

 

Also tody they sent a check for the ammount stated on the letter so should i bank it even if i intend to dispute

 

Thanks

 

 

 

 

 

 

anybody had a chance to take a look and give me their thoughts

 

Thanks for taking a look.

Do you think i should bank the cheque they have sent.

Copy of StatIntSheet v101.xls

2019-09-04 MBNA PPI refund details.pdf

Copy of CISheet v101.xls

[dx100uk]

cant see anything wrong with your sheets

they agree with PPI charges total

and have awarded more CI int

 

they seem to not be understanding that from the date of the card sale [when their int stopped

you are entitled to 8% stat int on that sum till they settle.

as the statint sheet calcs.

point that out to them

ask them for a complete breakdown.

 

think its better not to cash that cheque 

 

 

[rumpshank]

Ok i am constructing a letter now along those lines.

Do you think i should return the cheque with the letter ??

[dx100uk]

I believe you could also write in your letter that you accept the cheque as partial settlement toward your on going complaint.

[rumpshank]

Ok with your help i have drafted the following letter.

If you get 5 could you just take a look and i will send it off to them.

 

 

 

disputing settlement figure.pdf

[dx100uk]

according to the FOS redress guidelines

I am entitled to 8% statutory interest on redress sums whereby you have prevented me from investing said figure.

 

your interest stopped on [date] resulting in the sum of £2140.32 on PPI premiums of £1780.55, giving a total of £3920.87.

thus I should be entitled too 8% statutory interest till the date you settle, not £454.45.

 

dx

 

 

[rumpshank]

So I have sent a letter to MBNA stating the above and have not had any reply from them.

So how long should I wait do you think ... 

The letter was sent sign for so I know they have received it.

Any views ??

 

 

[FTMDave]

I see you've reported a post.

 

That means only Site Team members can see the content.

 

It would be better to post here so all the other regulars can chip in.

[rumpshank]

just i had a reply from FOS regarding my settlement from MBNA and just wondered if someone would take a look and let me know what they think.

 

 

 

FOS Reply.pdf

[dx100uk]

sorry but i disagree with their assumption that the statint 8% (which is NOT compounded on our sheet!) can only be charged when an account is in credit.

 

the increased balance was caused by the admitted unlawful PPI policy monthly levy, this they subjected to their interest rate until they stopped charging it, the point of sale.

 

i will however, erm on the side of caution as we have no data from you that proves, from statements, when the original creditor last charged their interest rate.