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Everything posted by makkapakka69

  1. There is certainly alot of info in the links you mentioned. Looks like I might have a long road ahead. So just to confirm, if claiming for restitution, I can claim at a higher rate than the purchase rate. I have worked out all the cash rates at each point of charge. MP.
  2. The cash apr's ranged from 15.9% to 27.9% during the time the account was active. The purchase rate is harder to work out as the SAR only gives the rates as A B C D and indicates when an increase occurred. I am assuming that D is the cash rate as this is the highest at any one time. MBNA always had an urge to offer special discounted aprs from time to time, so the card balance was always made up of different transactions with different aprs charged. The statements are not printed as when they were orginally sent out. They are just one list, 8 pages long with all transactions dated an
  3. Thanks for your reply. I'd like to go for full restitution on this I think. Dont like MBNA! Are there any success stories when doing this? Cant imagine they would give up their money easily, so are they likely to defend all the way? What is the higher APR you can use? Is it the cash APR? MP.
  4. Hi all, I'm about to start a reclaim of credit card charges from an old defuct MBNA account. I've already sent a SAR request for copy statements etc and received these back, and I'm currently preparing a SOC. There are 19 charges for late payments/over limits ranging from £25 - £12 from between 2004 and 2007, totalling just under £500. I've had a good read through the forums for tips and advice, but I could do with some help to the following questions as some things seem to be contradicting themselves in different threads: 1) When calculating the APR, do you use the purchase or
  5. Branch is only about 1 1/2 miles away in town so not very far at all. I already have the credit agreement for this account anyway and it already has my signature on it, so it's not as if they might lift it! MP.
  6. I have received a reply from Lloyds asking for a signature in order to process the request. (The cheque used for payment was from my partners bank account, so obviously its not on there.) Is this required for a SAR or are they trying it on? They do give me the option of going to my local branch with some form of ID to collect it instead though! Which is best? MP.
  7. They have received it today. Does today count as day one or not? MP.
  8. Could anyone suggest approx what a settlement figure for a loan of £57,000 would be after 6 and a half years into a 22 year term? Does £52,500 sound like the rule of 78 has been used? Cheers! MP.
  9. Royal Mail are worse than useless! A rather rude woman said that I should have sent it Special Delivery because for one, it was an important document, and for two, it contained a cheque which RM class as money! As normal recorded delivery is not tracked right through the delivery process, there is no way of checking where in the system the letter may be. So it seems normal post is a sub-standard service. She advised me to contact Lloyds to see if they had received it, and if not to re-send via Special Delivery! Joke! MP.
  10. After sending Lloyds a Sar request back in December, have still not heard anything back. It was sent recorded, but the Royal Mail tracker is just syaing that it is being processed through our system. The cheque has not been cashed either. Could it have got lost in the post as it was sent in the busy run up to Christmas? Also, Wescott are also hounding me over this with calls and letters, despite me sending them a letter that the debt is disputed. MP.
  11. Received letter confirming case finally passed to Ombudsman team for final decision, but depending on the complexities of the case, could take up to a year to reach a decision. Have been reading up on the rule or 78 regarding interest and settlement figures. If our loan was for an initial £57,000 and we now still owe £52,500 after nearly 6 and a half years worth of payments, is it plausible that FP have used the 78 rule to calculate the settlement figure. MP.
  12. Update on this: This matter is now being investigated by the FOS - has been for months now. Current balance of loan now stands at £52,500, meaning that if FP figures are correct, we have only repaid £4,500 in over 6 years of repayments - with each monthly payment being at least £570!!! Work out what we have paid them in return!!!!!!!!!!!!!!
  13. Oh yes, I know that! Its just some are more persistant than others. After dealing with the notorious 1st Credit, I'd happily take on any of them. Juat nice to know who I'm up against. MP.
  14. Data Protection Dept LTSB The Pentagon 48 Chiswell Street London EC1Y 4XX Is this the correct one? How do Westcott rate amongst other DCA's?
  15. Just receieved a recorded phone message tonight from Westcott Credit Services asking me to call them! Dont know if this is linked to this account yet, but it wouldn't surprise me if LTSB have sold the account on or farmed it out to them to attempt collection again. Better get that SAR sent off soon. Where is best to send the SAR? Local branch? MP.
  16. Dug out the final FOS letter: Makkapakka69 says he thought he had to take the policy out to qualify for the credit card. He says while the application form he signed does allow for the PPI to be declined, the adviser said his status was such that he needed to take it out. Makkapakka69's explanation is plausible, so I have given it some weight. But I have also considered that these events took place over a decade ago and even the clearest memories can fade or become confused with time. I also note that the option to decline the policy, on the application which Makkapak
  17. I raised this with the original adjudicator, but they said it would not alter the outcome as the signature is right next to where the optional features are. The Ombudsman never even referred to it in his summing up. MP.
  18. Yes, it worries me too! I haven't got the FOS letter to hand, but the jist of it was that the complaint was no upheld because the original application form had a tick box for ppi within the "Optional Features" section. The Ombudsman said that I should have realised that because of this, the policy wasn't compulsory. The thing is, the application form was filled out by the sales advisor. It is quite clearly not my handwriting. I was only shown where to sign the form, and this was after she had told me that I had to have it. There aren't even any ppi t's and c's to
  19. But that wont stop them chasing me for the money forever, or worse selling it on and then being chased by a DCA forever. We all know that people are chased for completely unenforceable debts for years and years. Thats why I really want to clear it this way, then I would be certain that the debt would never reappear! Would it be worth sending a SAR to work out exactly how much I would be due? As I said earlier, I think it would be easy a 5 figure sum with compound interest on top of the premiums! I hate LTSB with a passion, so the thought of them winning on this real
  20. Already went to an Ombudsman for final determination and he agreed with the adjudicator. he just went into a little bit more detail as to their reasons. I went back to LTSB after the FOS rejected as the initial complaint was sent well before the High Court ruling this year, (About 2 years ago in fact) as I thought that they hadn't covered every point of the complaint. Just received a letter yesterday from LTSB confirming that the case wont be reopened and if i want to take it to small claim court, then to do so! I dont know the exact amount to reclaim, as I no longer have all the previo
  21. Thanks for getting back so quick. They said that on the application form, the tick box for ppi was clearly stated as an optional feature. They did give my complaint credibility, but said that it was more than likely that the sales advisor only advised it was taken out and did not say it was compulsory. The card and ppi were taken out during a financial review in branch. I was only told where to sign and wasn't given any info on the ppi policy, only that I had to take it out because of my limited credit history at that time as I was only 22. The Ombudsman said that even
  22. Hi, I've been trying to reclaim the PPI on an old Lloyds TSB Asset credit card from 1999, however both Lloyds and now the FOS have rejected the claim. The card itself defaulted 4 years ago and has been passed around several DCA's, both in house and external. I believe it to be unenforceable due to missing prescribed terms and no original terms and conditions. I'm a bit gutted as a successful claim should clear the balance of just over £6,000. The PPI was missold as I was told it was essential in order to get the card, despite having some cover through work.
  23. Thats the point. They haven't offset it against the debt. They have added it onto the debt! Quick example: Account balance before ppi reclaim = £67,000 Original ppi amount @ £11,500 reclaimed and credited to account. Account balance now = £56,500 Interest charged on mis-sold ppi @ £2,800 credited to account. Account balance now = £53,700 Monthly repayments restructured and ppi element removed. Previous ppi overpayments already made @ £3,200 refunded to me by personal cheque. Same £3,200 charged back onto loan account. Account balance now = £56,900 This was 2
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