Landy_alert v MBNA PPI **WON**

[landy_alert]

have u got origional cc agreement was it ticked?

 

Hi jdes26:)

 

Yes, I have the original agreement and there is no box for PPI on it at all.

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just to say I am going to do what others in the same situation regarding MBNA, the FOS and credit card PPI are doing and send another letter to the FOS letting them know I am not happy with their decision to let MBNA not only pay back no contractual interest, but also in our case no 8%!

 

I will explain that Mr Landy did have a credit balance where MBNA say he didn't, ask why in the light of this MBNA have only paid £30 odd interest on £600+ of premiums, ask for a better explanation of their redress rcommendations and let them know their guidelines appear to be open to what appears to be deliberate misinterpretation by the more unscrupulous firms.

 

Will keep you posted as to how I get on!

 

Regards,

 

Landy x

[pompeyfaith]

Hiya Landy,

 

I have done the same as you letter ready to send of in the morning in my case I feel they have only looked at one side i.e. agreed with the bank there offer is fair lol far from it I have spent time and money for them to investigate both sides.

 

And there medical guidelines they are supposed to follow is hogwash.

 

There is a new chief ombubsman at the fos now as from the 1st November so lets see if he has teeth.

 

Good Luck.

 

PF

[landy_alert]

Hi PF:)

 

Glad to see you're still fighting the good fight on the PPI front - I noticed you have been busy lately with your MBNA/Optima issues.

 

Thanks for the encouragement and hope all goes well for you too - in both cases:D

 

Take care,

 

Landy x

[pompeyfaith]

Landy,

 

Yes i have been busy with the MBNA/OPTIMA case lately, cannot do anymore now with that until i have had a response to the N244 aplication.

 

So time to get back on with the CO-OP/FOS.

 

Regards

 

PF

[TINK660]

Glad to see that we are all getting together on this contractual interest issue - its good that we are lending support to each other over this.

 

Good luck everyone

[landy_alert]

Hi Tink:)

 

Letter gone off to FOS today - will let you know as soon as they respond.

 

Hopefully they will realise once our letters start arriving that they need to make their redress recommendations for credit card PPI complaints less open to misinterpretation as well as clarifying the whole contractual interest issue.

 

Keeping everything crossed for all of us on this!

 

Regards,

 

Landy x

[alanalana]

Hi Tink:)

 

Letter gone off to FOS today - will let you know as soon as they respond.

 

Hopefully they will realise once our letters start arriving that they need to make their redress recommendations for credit card PPI complaints less open to misinterpretation as well as clarifying the whole contractual interest issue.

 

Keeping everything crossed for all of us on this!

 

Regards,

 

Landy x

 

Nice one Landy I am stil in the loop to see what happens.

aa

[landy_alert]

Thanks for your continued support with this aa:D

[landy_alert]

Hi everyone:)

 

Just a further update on this -

 

Mr L today received an email from the FOS adjudicator dealing with his complaint, asking him to call him to discuss the matters raised in his (my) last letter. As Mr L is at work I had to email him (Mr L) copies of the last pieces of correspondence between himself and the FOS as well as some prompting notes as to what he should be saying.

 

Mr L has just got back to me having spoken to the adjudicator, who seemed to understand the crux of the contractual interest issue, but was still insistant that there was never a credit balance on Mr L's account for interest to be applied to.

 

He said that the FOS have copies of all Mr L's statements as supplied by MBNA and these show there was never a credit balance:eek:

 

The adjudicator assumed we had copies of all Mr L's statements (we don't) but he is going to forward copies to us to prove MBNA is correct.

 

I should point out that although we have several statements we do not have the full set - MBNA only ever sent a list of charges/payments made and unfortunately we never pursued them for the remainder of Mr L's SAR.

 

However, I have been through the statements we do have and the lists of charges/payments and know that for many months there was a credit balance.

 

Mr L said to the adjudicator that unless one spent up to the full limit on their card in its first month of use (which he did not), that would imply there was at least one month with a credit balance, yet MBNA say there were none:eek:

 

The adjudicator was quite helpful nonetheless and fully understood that if Mr L was still not happy on receipt of the copy statements we would be asking for the complaint to be escalated to an Ombudsman for his/her decision.

 

Mr L did say that his wife has been putting together much of his correspondence - cheeky so and so, I've done it all - and that I had received support from the Consumer Action Group (despite me telling him on more than one occasion that the FOS prefer non-clued-up consumers!) and the adjudicator didn't appear to know what CAG was

 

Anyway, once the statements are received I'll have a better idea of how to proceed. Will keep you updated as and when!

 

Regards,

 

Landy x

[alanalana]

Mr L did say that his wife has been putting together much of his correspondence - cheeky so and so, I've done it all - and that I had received support from the Consumer Action Group (despite me telling him on more than one occasion that the FOS prefer non-clued-up consumers!) and the adjudicator didn't appear to know what CAG was

Time for some boots up bums me thinks

[landy_alert]

Mr L did say that his wife has been putting together much of his correspondence - cheeky so and so, I've done it all - and that I had received support from the Consumer Action Group (despite me telling him on more than one occasion that the FOS prefer non-clued-up consumers!) and the adjudicator didn't appear to know what CAG was

 

Time for some boots up bums me thinks

 

Yep, sounds about right to me Alan

[TINK660]

Hi Landy,

 

Quick update - received email from FOS with this reply:-

 

I have raised your concerns with MBNA and they have informed me that the method in which it calculates the associated interest is not merely based on the premium and contractual interest rate at the time, as the firm must consider the way in which payments are allocated to the outstanding balance. A summary of this information is explained within the account terms and conditions.I should point out that the interest calculated is simple and not compound. In addition, the PPI premium will always be included within the minimum payment for each individual month and therefore if the minimum payment is paid off in full each month; the interest charged will not roll from month to month.I can confirm that the way in which this refund has been calculated is broadly in line with FOS guidance.As you will be aware, your case has not been fully adjudicated by the Financial Ombudsman's Service and the offer has been made by the firm on a goodwill basis which included an award of £100 distress and inconvenience. I note you request us to forward your case through for a full adjudication for an Ombudsman to review the issue of associated interest. I am obviously happy to carry out this request but I must point out that following a full review, an adjudicator may agree or disagree with the decision of the firm to uphold your complaint and it is possible that your complaint may be rejected or the award of Distress and Inconvenience withdrawn. In addition, I should point out that even if an adjudicator agrees that the firm should uphold your complaint, the settlement awarded by the firm is unlikely to be improved as it is broadly in line with FOS guidance and you have been put back into the position you would have been in had you not had PPI put on your loan from the outset.Please let me know how you would like to proceed. Should you have any further questions, please do not hesitate to contact me.

 

The paragraph about the interest being simple and not compounded as the payment would be included in the minimum payment and if the minimum payment was made every month it would not roll on to the next month - surely the same would have applied to charges applied ie late payment, over credit limit etc. and these were paid back with compounded interest.I am mindful to still continue this to an ombudsman but if anyone else has any thoughts on the matter or has heard anything different from the FOS concerning this issue - please let me know.It seems that I am being advised not to proceed further but it also seems like they are saying take it any further and you may loose the lot, however as what has already been given back has been a "goodwill gesture" I dont think they can take it back!Any comments appreciated.

[alanalana]

Hi Landy,

 

Quick update - received email from FOS with this reply:-

 

I have raised your concerns with MBNA and they have informed me that the method in which it calculates the associated interest is not merely based on the premium and contractual interest rate at the time, as the firm must consider the way in which payments are allocated to the outstanding balance. A summary of this information is explained within the account terms and conditions.I should point out that the interest calculated is simple and not compound. In addition, the PPI premium will always be included within the minimum payment for each individual month and therefore if the minimum payment is paid off in full each month; the interest charged will not roll from month to month.I can confirm that the way in which this refund has been calculated is broadly in line with FOS guidance.As you will be aware, your case has not been fully adjudicated by the Financial Ombudsman's Service and the offer has been made by the firm on a goodwill basis which included an award of £100 distress and inconvenience. I note you request us to forward your case through for a full adjudication for an Ombudsman to review the issue of associated interest. I am obviously happy to carry out this request but I must point out that following a full review, an adjudicator may agree or disagree with the decision of the firm to uphold your complaint and it is possible that your complaint may be rejected or the award of Distress and Inconvenience withdrawn. In addition, I should point out that even if an adjudicator agrees that the firm should uphold your complaint, the settlement awarded by the firm is unlikely to be improved as it is broadly in line with FOS guidance and you have been put back into the position you would have been in had you not had PPI put on your loan from the outset.Please let me know how you would like to proceed. Should you have any further questions, please do not hesitate to contact me.

 

The paragraph about the interest being simple and not compounded as the payment would be included in the minimum payment and if the minimum payment was made every month it would not roll on to the next month - surely the same would have applied to charges applied ie late payment, over credit limit etc. and these were paid back with compounded interest.I am mindful to still continue this to an ombudsman but if anyone else has any thoughts on the matter or has heard anything different from the FOS concerning this issue - please let me know.It seems that I am being advised not to proceed further but it also seems like they are saying take it any further and you may loose the lot, however as what has already been given back has been a "goodwill gesture" I dont think they can take it back!Any comments appreciated.

 

I believe it is unlikely you would get any claimed compounded interest. I accepted the adjudicators decision on my claims. The choice of acceptance must of course fall to you. It would be totally inappropriate for me to advise on acceptance of your claim.

 

The choice to continue to the ombudsman over an adjudicator ruling is again your choice.

 

Whatever your decision I wish you good luck.

 

The red bit above you could be asking for £200 as other claimants have received this amount for inconvenience and distress. Sadly I got nothing but I am wiser now to the situation and would certainly insist on a compensation for a claim taking 12 months to resolve.

 

I would firstly ask for £200 and then you decide on accepting a settlement

 

aa

[jedbird]

Sorry to but in but wondered if anyone can tell me if there is a specific address at MBNA for ppi claims.

Thanks

[alanalana]

Companies house brings up these results for MBNA

 

05762092

D MBNA LIMITED Dissolved 02922208

MBNA DIRECT LIMITED

02783251

MBNA EUROPE BANK LIMITED

FC028615

MBNA EUROPE FINANCE LIMITED

BR010201

MBNA EUROPE FINANCE LIMITED

02950906

MBNA EUROPE FUNDING PLC

02898169

MBNA EUROPE HOLDINGS LIMITED

06427367

MBNA FUNDING COMPANY LIMITED

04853435

MBNA GLOBAL SERVICES LIMITED

FC022307

C MBNA HALLMARK INFORMATION SERVICES, INC. Company Removed 02833317

MBNA INTERNATIONAL PROPERTIES LIMITED

04330136

MBNA INVESTMENT & SECURITIES LIMITED

BR005548

MBNA IRELAND LIMITED

FC022534

MBNA IRELAND LIMITED

06854301

MB NA1 INVESTMENTS LIMITED

06740752

MBNA PARTNERSHIP INVESTMENTS LIMITED

02910645

MBNA PROPERTY SERVICES LIMITED

FC023974

C MBNA RECEIVABLES LIMITED Company Removed FC028443

MBNA RECEIVABLES LIMITED

BR010050

MBNA RECEIVABLES LIMITE

 

You will have to decide which compny you are dealing with

 

 

 

This is from the FSA Register.

 

Basic details for:

 

204487 - MBNA Europe Bank Limited

 

Current status: Authorised Effective Date: 01/12/2001 Tied Agent:

Undertakes Insurance Mediation: Y Registered under Money Laundering Regulations:

Address: Stansfield House

Chester Business Park

Wrexham Road

Chester

Cheshire

CH4 9FB

Phone:

Fax:

Email:

Website:

44 01244 672 000

44 01244 672 100

No email address supplied

 

Notices: UK authorised firms who have a deposit-taking permission do not usually need to obtain separate permission from the FSA to receive money from clients.

Other information:

[landy_alert]

Hi everyone:)

 

Just a belated update to this thread -

 

Despite asking for this complaint to be passed to an ombudsman Mr L received a letter from a new adjudicator stating that they would be re-assessing his file as they understand he has queried the manner that the redress in his calculation was worked out. They will contact him when their investigations are complete - the waiting continues...........

 

Landy x

[landy_alert]

Hi everyone:)

 

Further update on this as promised -

 

Yesterday Mr L spoke to the new adjudicator reviewing his complaint. Apparently the adjudicator has discussed the issues surrounding the interest not awarded to Mr L in great depth with someone at MBNA and they have assured him that they are not prepared to pay out another penny in interest. The adjudicator said the most the FOS would have awarded is the 8% simple, definitely not contractual, and that they are convinced that MBNA have paid out as much as Mr L is entitled to.

 

As the 8% would have only amounted to an additional £120 on top of what has been refunded already, we have decided not to take this any further.

 

I feel like I'm giving up, but I am bogged down with trying to sort out my LTSB bank charges issues - I have to apply for stay to be lifted by 26/2/10 or my case will be struck out and I'm getting somewhat panicky as its a big one and if I lose the costs could be huge - and Mr L is currently unable to work due to severe mental and physical exhaustion, which is rather a worry so I really need don't have time to fight anymore on this one.

 

Apologies to the rest of you guys holding out for contractual interest from MBNA and hope you all have more success with this than me;)

 

Landy x

[alanalana]

Hi everyone:)

 

Further update on this as promised -

 

Yesterday Mr L spoke to the new adjudicator reviewing his complaint. Apparently the adjudicator has discussed the issues surrounding the interest not awarded to Mr L in great depth with someone at MBNA and they have assured him that they are not prepared to pay out another penny in interest. The adjudicator said the most the FOS would have awarded is the 8% simple, definitely not contractual, and that they are convinced that MBNA have paid out as much as Mr L is entitled to.

 

As the 8% would have only amounted to an additional £120 on top of what has been refunded already, we have decided not to take this any further.

 

I feel like I'm giving up, but I am bogged down with trying to sort out my LTSB bank charges issues - I have to apply for stay to be lifted by 26/2/10 or my case will be struck out and I'm getting somewhat panicky as its a big one and if I lose the costs could be huge - and Mr L is currently unable to work due to severe mental and physical exhaustion, which is rather a worry so I really need don't have time to fight anymore on this one.

 

Apologies to the rest of you guys holding out for contractual interest from MBNA and hope you all have more success with this than me;)

 

Landy x

 

It seems that the best we can hope for on PPI reclaims is the 8% statutory interest back to the start of the premium payments.

 

Shame as they the banks have been sitting on shed loads of our money putting it into other ventures and gaining massive returns.

 

At least we have the satisfaction of knowing the PPI bubble has burst and 90% of folks are getting money back.

 

aa

[landy_alert]

It seems that the best we can hope for on PPI reclaims is the 8% statutory interest back to the start of the premium payments.

 

Shame as they the banks have been sitting on shed loads of our money putting it into other ventures and gaining massive returns.

 

At least we have the satisfaction of knowing the PPI bubble has burst and 90% of folks are getting money back.

 

aa

 

Very true Alan. At least we're getting somewhere, so we should give ourselves a well-earned pat on the back!

 

I suppose this thread should finally have a ***WON*** added to it now that its over at last;)

[Old Cogger]

Ombudsman will look back to 6 years of charges as I found out.

[kennyh]

First congrats on getting cash out of MBNA but I would ask, do MBNA appear to have got their 'feet under the table' at FOS Offices? I'm going to bypass FOS and take them to court on the subject of interest - as I understand it Compound (or contractual) interest is still a legitimate target of have I missed zummit zumwhere?

[landy_alert]

First congrats on getting cash out of MBNA but I would ask, do MBNA appear to have got their 'feet under the table' at FOS Offices? I'm going to bypass FOS and take them to court on the subject of interest - as I understand it Compound (or contractual) interest is still a legitimate target of have I missed zummit zumwhere?

 

Thanks Kenny:)

 

I don't think its necessarily only MBNA who have their 'feet under the table' at the FOS - from recent experience it seems that LTSB do as well and the general consensus appears to be that all financial institutions are looked on more favourably by the FOS than us mere mortals!

 

It is definitely possible to get contractual interest back from some institutions, but it seems to be much easier on loans than cards - I did on a Sainsbury's loan - but I haven't had any joy on a card as yet.

 

Court could well be your best option and there are Caggers who prefer this method - Castlebest I believe, is one who has done this with great success, so it might be a good idea to have a look at his threads. If I don't get anywhere with LTSB via the FOS (who are currently insisting I sign an acceptance form with no knowledge of how much is being offered) I will probably be joining you!

 

Good Luck with your claim!

 

Landy x

[kennyh]

Thanks Landy

[TINK660]

I'm still pushing the compound contactual interest issue, the way I see it we got it on credit card charges so why not ppi payment as they are added to the account the same way. The FOS dont seem to want to take this into account though!