Latest update. I spoke to fos and they said that by accepting the offer we would not have to accept the figures if we did not think it was right but it would mean MBNA would calculate the figures. The letter finally arrived from MBNA offering

PPI Premiums £2383.57

Assoiciated Interest £1738.90

8% gross Interest £ 886.52 (of which £177.30 sent to HMRC)

Although I did SAR MBNA I only recieved computer print outs so I was unable to do a complete recalculation but I have used the FoSCIS sheet v101

this gives me figures of £2352.02 Premiums

££6,767.63 interest

So there is somewhat of a difference, I have sent a letter to MBNA asking for a full breakdown of how they get their figures

I know from other threads that they are manipulating figures to suit their needs

Any advice

Update from the FOS. MBNA have agreed to make an offer as a gesture of goodwill and with no admission of liability to settle this complaint !!! If the offer is accepted it will be calculated based on the general approach the FOS takes when they decide PPI has been mis sold and MBNA will calculate the exact amount if we decide to accept the offer. Is this the norm to accept an offer even when we have no idea what it is ?

Thanks I'll have a look

An update .... we went to the FOS and they have upheld our complaint so we are now waiting to see what MBNA come back with. Does any one have experience of this? Do they generally settle or do the still fight?

Thanks Ims, I Guess from that I had better cash my cheque then

Mmmmm Thanks Guys. I time to relook at my SAR paperwork!!

[ATTACH]38730[/ATTACH]

I have attached pdf of spreadsheet putting in their figures. If this is right maybe I should cash my cheque now

If I've got in right it looks like they have calculates the refund of premiums and then reconstructed the account without the PPI and added the difference between the new closing balance and the old one

Yes I believe it was

My Letter States

I am writing to further to your correspondence outlining your concerns regarding the Payment Protection Insurance on the above account.

I can confirm that your concerns have already been addressed under ref ******3

and a final response was sent to you on 20 August 2012 outlining our findings.

As Requested I enclose a copy of the breakdown calculation we have used to calculate your refund for your information

Please be informed that the above reference will now be closed and no further correspondence will be sent

Yours Sincerley

Rachel Nixon

Customer Advocate Office Manager

Yep.

 

 

Write to MBNA dispute it and if they dont agree take to FOS who I am sure will uphold and will cost them even more.

It will have to be done by telephone as their last letter stated they would no longer respond to any letter But it might be quicker than waiting for them to reply by post

Interesting !! You seem to be having the same problem

Would think quite clearly from that claculation they are not applying interest other than for the month of the premium.

 

That fires a bomb right into the redress of returning the customer to where they were because the interest carries on growing until the end of the account or the suspension of interest at the very least.

 

Anyone does this seem correct?

That would make sense to me. I need to be able to work out what they should of paid so that when I tackle them I sound like I know what I'm on about

Just wrote to them thanking for the cheque but could I have a breakdown 10 weeks later so a mad rush as always

That was my thinking too but I can't work out where to start. So I can get it clear in my head before I argue with them down the phone as they have told me they will not send any further correspondence.

Can anyone give me an idea where to start

Ims your brilliant

I hope this works

Well I finally got my breakdown from MBNA with a polite

"we will not discuss this matter further".

I am trying to work out if their figures are correct as they have a surplus redress figure of £362.32 on this sheet

but the PPI premium is £241.82 and 8% interest is £266.79

it soesn't make any sense to me.

Can someone explain how I upload them onto here.

I have converted them to a pdf but not sure what to do next

Thats what I thought and as I never cleared my balance

I'm confused as to how they could come up with a figure of just £20.50 for this when each months PPI payment was approx £20 and my card interest was about 18.9% ?

Can you just clarify this so I can get it straight in my head. Is the associated interest the amount of interest I paid to them on the PPI balance @ the interest rate on my card?

A quick update came home today to find a cheque from MBNA so do I bank it or wait till they have answered my request for a breakdown?

Thank you

Hi Arniebear, was the pre-ticked to do with Virgin CC not MBNA? I've got the same problem of being rejected by MBNA and Egg at the moment for saying I ticked the box, MBNA haven't even complied with a SAR yet but still wrote refusing my "claim" that I haven't even made grrrrr! seems they assume all SAR requests are requests for PPI refunds lol!

yes the pre ticked was virgin cc which is now part of MBNA. We finally got the agreement back with the standard rejection letter but you would need xray vision to read it as it is soooo small.. A tatic I feel Grrr. This account is my husbands

The other MBNA with they have agreed to is mine which started off life as an Aol card but I knew it was too good to be true when they rolled over and said yes

So have MBNA caved in on the pre-ticked box online, or are the merged threads confusing things?

I have today sent my file off to FOS as nothing from MBNA.

No sadly that has now gone off to the fos for the long wait

Hi this settlement part is from my MBNA claim but the other part is my husbands claim which is why I started another thread