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Sorry to be asking for help on my first post. I have been reading these pages for a while now.
At the beginning of the year I had to close my business, and since then I have had very little money coming in, although I have still been working (self employed) in clearing out and maintaining the buildings on the farm I am a tenant on. I have been telling MBNA amongst others that I was unable to pay even the minimum amounts they were demanding. I am now a student.
However, on 10 September I was threatened with a default (yet again) and decided to not lie back, but to start taking action. On 12 September I wrote to them saying no phone calls, and enclosing a SoA and saying how much I was able to pay. I also claimed for PPI I had from Nov 01 to mid 03, and charges from 01 to current and interest at the same amount they were charging me (I have copies of all my statements, so did not do a SAR). This totalled 50% more than I owed them. On 25 September I had an email saying if I did not pay by 30th September the account would default, and be sold to a third party. In a subsequent email they said that they had not received any communication since a phone call at the beginning of September. I emailed all the letters that night, and next day sent them all registered mail, along with a CCA.
I heard no more till on the 13th I got a default notice (dated 9th) demanding the full payment by the 25th or the account would be closed and the agreement terminated. Needless to say I have not got the money
On Thursday I got: a) a copy of the signed front page of my application, with conditions on reverse – but the application was tri-folded A4, and the reverse was two columns – so clearly not from the same form! ; an up to date t&c; and a signed copy of my latest statement (which I have not received in othe post) with a “charge-off adjustment” of the full balance, and a new balance of 0.00.
What does this mean, and what should I do? Sorry for the long post, but thought it best to put as much info on as possible.
Farmergerry
Further to the above, they have in the past offered a partial settlement of around £1200 (on £3500), but as I had no money I couldn't negotiate.
What I would like to do is basically end the account with a final settlement where I pay nothing, but receive nothing from my PPI claim (£2200 inc interest at 1.24% a month) and charges (), and have the default removed from my credit file.
I spent £2400 on the card in 2001, and have paid over £6000 to them since. I know it is a lot, and should have been tackled earlier, but the business never did as well as it should - partly because of all the finance charges ( I have around £15000 bank charges, some on a personal account, but mainly on a sole trader business account, but that is a matter for a few days time!)
Any suggestions as to how I should respond - getting worried by them.
Also got problems with BCard, and Powergen amongst others, but they are not pressing just at this moment, but I know I need to carry on being proactive, and not burying my head in the sand. Problem is time, especially during the week due to the pressures of my course.
If it were me in your shoes I'd keep pressing the PPI issue.
MBNA will probably terminate soon and pass to Capquest who will bug the life out of you but.......keep disputing the account with MBNA and try to bring to an amicable conclusion.
Calculate all that they owe you for PPI and any interest thats been applied to same, add any charges on the account + Interest again.
Any balance left, offer them a 'Without Predujice' Full and final settlement.
If they won't play ball just keep on pressing them, the template letters are on the PPI forum as will be some interesting reading and help.
They say I owe £3200; I have claimed £500 PPI and interest of £1700, along with charges of £1000, and interest of £1800 (at the same rate they have charged me, as I have never not had a debt on the card). I sent the letters on the 28th september, giving them 14 days to respond - is that days or working days please?
As you see I have claimed £5000, with them claiming £3200, and having offered a settlement of £1200; what should be the next response.
On the matter of raising it on the PPI forum, do I create a new thread, or post, linking back to here.
You can click on the red triangle and ask one of the site team to move this thread to the PPI forum.
In all honesty i think others on there will need to see exactly what your calculations are for PPI and charges and how you have worded the letters to MBNA so far.
Depending on how you've gone about it and the fact they are about to terminate you may be best placed to get a lba in to start the formal process.
At least this way if there is any sign of litigation from the other side you will already have a sizeable sum (if not more than the alleged debt) already in dispute. They would be extremely foolhardy to press you further until this matter is resolved.
You can click on the red triangle and ask one of the site team to move this thread to the PPI forum.
In all honesty i think others on there will need to see exactly what your calculations are for PPI and charges and how you have worded the letters to MBNA so far.
Depending on how you've gone about it and the fact they are about to terminate you may be best placed to get a lba in to start the formal process.
At least this way if there is any sign of litigation from the other side you will already have a sizeable sum (if not more than the alleged debt) already in dispute. They would be extremely foolhardy to press you further until this matter is resolved.
Gez
Please edit the mis-spelling of my name in your post 5
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I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
farmergerry and MBNA (PPI) & Charges
amongst others that I was unable to pay even the minimum amounts they were demanding. I am now a student.
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Re: farmergerry and MBNA
Originally Posted by gezwee
