hi, update, recieved a response from mbna yesterday telling me they would not uphold my claim :sad:because i had ticked the box and therefor, requested the cover, and the fact that i was not told that you could not claim if self employed, that the cover was available elswhere and did not ask if i had other means of covering my paymens was because they provide "information only" and this was a "non advised sale". is it worth chasing this claim any further by taking it to the ombudsman or is it a lost cause. if i am to take it further what will i need to indicate i was self employed at the time so i can get the information together and carry on, on the basis i was self employed and could not have claimed... thanks

thanks ims, i can finaly et these done and sent off:-D

spreadsheet ? hi, is it correct that when entering the MONTHLY SPEND,which is always higher, then MONTHLY PAYMENT, that the CARD BALANCE comes up in a negative red number and no simple interest is being calculated? ,sorry for being so dim but i just want to get this right.

sorry ims, did not see the link when i read the post ysterday, i have applied the rate at 34% and arrived at these figures, monthly cost of ppi.....£480.39....compound interest £388.88.. simple interest £44.74.. total £914.01,,, does this sound correct? this was over a 4 year period,. thanks

hi jedicris. the spreadsheet i am using is for a cc and requires you to enter all transactions, in and out of the account and the ppi premium, its taking a while to sort out as i need to calculate the "spends " on a month by month basis and enter the figures, its only what the apropriate interest rate to use is holding me up, can anyone advise as to the interest rate i should enter into the spreadsheet (apr) if the monthly rate is 2.529% as i am unsure how to convert this. thanks, just found a converter on google:-), does 34.49% sound right?

hi jedicris, i have never been much good with spreadsheets, i have entered the transaction dates and amounts, the payment amounts and cannot seem to get any different results, do you know if it is the monthly interest amount you put in or the apr and as far as ive seen there is no specific area to enter the date of the claim.

thanks for that, ill try that and see what it comes up with,will that be the monthly rate? well i have tried that using 3% as the monthly interest rate and have the following results ..... total cost of ppi £480.39, compound interedt £23.97 and simple interest 44.74 =£549.10

hi, yes that is the one i have used, will the interest rate entered need to be what was being charged at the time of taking out the card or at the current rate?

does this look ok? this is with %8 entered in the interest rate box beneath the claimant details

total paid £469.74. compound interest £66.96.. 8% simple interest £24 30. total £561.01. does this sound correct?

it has come up with some figures

i have applied the information to the spreadsheet

still confused

stiill confused

will mbna require proof that i was self employed in addition to being employed ? i am attempting to use the spreadsheet to calculate the claim amount but am unsure as to how to go about it, the information supplied by the bank is just a printout of the transaction date, description and amount, no balance on the account, must i work out the balance on the printout as i go to be able to enter the information on the spreadsheet? i have worked out how much ppi i have actually paid and need to work out the interest to apply but i am having difficulty with the spreadsheet, what interest rate do you enter in the box which is below your name and acc number? the figures i am entering into the monthly transaction and monthly payment colums do not seem to tally, the balance does not tally with my spending and monthly payments, ive been at it for a good 3 hours and still cant figure it out, , im having to total up the money out and the payments made month by month on this printout, is this the only way to calculate the interest i should apply?