MBNA Loan PPI

[moose73]

I had done an SAR for both my loan and credit card account with MBNA, but only received infomation back on the creidt card. DO I complain to ICO now? or write back to MBNA?

[citizenB]

Hi Moose,

 

Did they respond within the 40 days with the information they have supplied.

 

You should in the first instance write to MBNA and advise that the SAR is NOT complete.

 

You should identify that information which is missing and give them a further 14 days in which to supply it.

 

HTH

[sharpgun]

moose just send them the prelim-----get on with it---------you will win the ppi claim----- if you need a prelim i will send you one:p

[moose73]

moose just send them the prelim-----get on with it---------you will win the ppi claim----- if you need a prelim i will send you one:p

already did prelim and lba and now sent on to fos;)

[moose73]

Just looked again at the SAR letter I sent, and it was just for my loan account, and yet they have sent back info regarding the credit card only WTF?

[moose73]

get this...

 

in the SAR for the credit card (which I hadn't asked for!) has the agreement clearly showing NO ppi required yet they have took this each month!

[sharpgun]

well what are waiting for go get em booooooy

[moose73]

Had a reply today from MBNA:

 

Thank you for your letter dated 19 February 2010 with regards to the Payment Protection Cover (PPC) on your Loan account.

 

I regret that we are unable to agree with all of the points that you have made in your complaint on this occasion. However, we would like to bring your complaint to resolution in a timely manner. In order to provide you with a satisfactory outcome we have decided to settle your complaint with a refund of overpayments made as a result of the PPC as a gesture of goodwill.

 

We will be in contact within the next six weeks to confirm the full details of the refund. In line with our normal business practice, a cheque, payable to Mr [Moose73], will then be issued to you under separate cover. 6 weeks to write a cheque WTF? no idea how much either?

 

I hope that you find my response acceptable and I regret any inconvenience that this matter has caused you. (I will find it acceptable if it is for the full amount, I suspect it won't be) We have now exhausted our complaint process; therefore I must inform you that this is our final response on the matter. If you remain dissatisfied with the response, you may refer your complaint to the Financial Ombudsman Service, within six months of the date of this final response.

 

Their address is as follows:

Financial Ombudsman Service

etc.....

I have enclosed the Financial Ombudsman's leaflet for your information. I regret that we will not enter into any further correspondence regarding this matter, unless instructed to do so by the Financial Ombudsman Service.

 

And also had a reply back from FOS today as well! along with the original complaint form I had sent them:

 

Your complaint about MBNA Europe Bank Limited

 

Thank you for your recent enquiry about payment protection insurance. I enclose our leaflet which explains how we can help to resolve complaints. As you will see, before we can consider a complaint the business concerned must have been given a chance to put things right.

 

The first step is to complain directly to the financial business that sold you the payment protection insurance, I have therefore written to MBNA to let them know that you have a complaint. MBNA should now contact you for details of the complaint, if they do not already have them.

 

I have also enclosed a payment protection insurance questionnaire,(already sent this to FOS) which will help the financial business you think is responsible for your complaint to assess your case - and decide whether it should pay you compensation.

 

Once you have completed the questionnaire, please send it to the financial business that you think is responsible for your complaint. But before you post it, please take a photocopy if you can.

 

If you do not hear from them within the next few days after receiving this letter, you may wish to contact them at the address given below, mentioning that we have already written to them.

 

They should issue a final response in writing within 8 weeks of the date they receive the complaint. However I noticed that from the documents that you have sent in that MBNA requested your response to their letter dated 16thMarch 2010. It does not appear that you have responded to this letter and this is necessary in order for MBNA to take their investigation further and issue a final response. (so why did they write the letter above?)

On receipt of MBNA's final response, if you feel they have not put things right for you, or, alternatively, if you have not heard from them after those 8 weeks, you want us to look at your complaint, please:

I

· check all the details on the enclosed complaint form;

· make any necessary changes and add any missing information;

· sign the form and return it to us; and

· return the payment protection insurance questionnaire.

 

We will not take any further action on your case, until you return the completed payment protection questionnaire and complaint form. It is important, therefore that you return the questionnaire and form without delay. (who to?)

 

We will take no further action unless you contact us again.

I have already sent the FOS the payment protection insurance questionnaire (after the initial complaint),should this also be sent to MBNA? should I write back to MBNA? (I had already done the LBA)

 

 

Edited April 15, 2010 by moose73

[moose73]

Had a reply from MBNA for a credit card PPI claim:

 

Thank you for your letter dated 15 March 2010 regarding the Payment Protection Cover (PPC) on your Credit Card account.

 

At MBNA, we have always aimed to ensure appropriate sales practices are followed at all times. However, as a gesture of goodwill, I have arranged for an immediate refund of the premiums and associated interest charged to your account.

A cheque of £1944.72 will be sent under separate cover.

 

Furthermore, I confirm that PPC has been cancelled and no further premiums will be charged to your account. You are therefore no longer covered by us for Life, Accident and Sickness, Hospitalisation, Unemployment, Carer Cover or indeed any benefits of the Insurance.

 

I trust I have addressed your concerns to your satisfaction. I hope that you find my response acceptable. We have now exhausted our complaint process; therefore I must inform you that this is our final response on the matter.

If you remain dissatisfied with the response, you may refer your complaint to the Financial Ombudsman Service, within six months of the date of this final response.

The calculation sheet I sent was for about £2800 ish but they are refunding £1944.72 and I have no idea how they got to this figure?

 

what now?

[Old Cogger]

Ask them for a breakdown of the figure before you accept/cash the said cheque if you are not happy with the amount, they are doing this to others I understand reducing payout to minimise losses hoping you accept their figures which usually are wrong.

[moose73]

received the cheque yesterday from MBNA for the lower amount, but have wrote back for a breakdown of the figure and just got the standard 'we are looking in to your complaint' letter. Also sent it to FOS.

[moose73]

had a letter back from FOS tody regarding the credit card account, basically saying they will not deal with it as it was before July 2001.

 

now I could have a problem as all 4 of my claims are before this date.

[moose73]

Update as to where I am at:

 

MBNA Loan PPI - Received this email from FOS on 16/4/10

 

Thank you for your email updating me on the progress of your complaint, in addition I wish to confirm receipt of your 2 completed payment protection insurance (PPI)questionnaires.

 

The letter that you have attached to your email states that they require up to 6 weeks to calculate the refund of overpayments however this is not the settlement that you have requested for on your correspondence to the financial services ombudsman.

 

 

 

 

You have a few options available at this stage:-

• You may wait up to 6 weeks to discover what MBNA decides to repay to you

  
  

• Since MBNA have issued their final response if you are unhappy with the settlement you may at this stage send back the complaint form and all supporting documentation so that we can pass the case on to our adjudication department.

  
  

If you choose to accept the final offer from MBNA then we will be unable to look at your complaint any further, however I can not give you any advice on which option to take.

 

 

 

 

I hope this answers your queries, however if you have any further queries please do not hesitate to contact me.

 

 

 

 

Kind regards,

 

MBNA never came back with a refund or offer or cheque as they had promised in their letter received on 15/4/10, so FOS have now passed this on to the adjudication dept.

I have yet to hear back from anyone, although FOS were talking about a 10th June deadline for MBNA?

 

 

MBNA Credit Card PPI:

 

Recieved this by email from FOS on 15/5/10

 

Unfortunately we cannot adjudicate on this case as the business you are complaining about was not under our jurisdiction at the time of your application.

 

 

 

Regards,

 

 

So I am on my own with this one.

Now, MBNA have sent a cheque for £1900ish without much of a fight, but I had claimed £2800, so I wrote back and accepted thier part payment and requested the difference. No breakdown was provided by them, so no idea where that amount came from. I have had a "we are looking into your complaint" letter back from them since.

I guess next step would be small claims for the difference.

[banker_rhymes_with]

Hello M73!

 

I guess next step would be small claims for the difference.

Yes.

 

Read up about compound interest and restitution, and this Case:

Sempra Metals Ltd v. Revenue & Anor [2007] UKHL 34 (18 July 2007)

 

There's also a good Thread by CAG ID Dad on a High Court Appeal case he lost, and why, and why Sempra would've helped him no end had it only come up in time for him to revise his Claim.

 

The key is Unjust Enrichment, and you will be wanting that back.

 

That being the money they made, on your money, while they Unlawfully kept their sticky fingers on it and lent it out to others to make pots of money from doing so.

 

Cheers,

BRW

Edited June 2, 2010 by banker_rhymes_with
Typoooo

[moose73]

OK, court claim it is then. Do I just use the same POCs as if I was claiming the whole amount? and do I now re do the spreadsheet and show the payment they have just made as part settlement?

[moose73]

Can someone advise if these POCs are ok, before I send them to court? (I'm asking for 8% interest)

 

 

_________________________________

 

 

PARTICULARS OF CLAIM

 

 

_________________________________

 

 

 

 

1. The Claimant opened a Consumer Credit Agreements with MBNA EUROPE BANK on 13th April 2001. The account/reference number is xxxxxxxxxxxx which was a rolling credit agreement with a total limit of £12,000. I will refer to this as the “Agreement”.

 

2. The Agreement included Payment Protection Insurance (“PPI”) however this was not requested at the time (refer to attached agreement), and appeared on the statements some 8 months later.

 

3. The policy was not needed as Mr xxxxxxx's employers operate a policy of full pay for 12 months of sickness, death in service benefits, and in addition to this there was critical illness cover and Life Insurance already in place. This is also in breach of Unfair Terms in Consumer Contract Regulations 1999, where a term is unfair if “contrary to the requirement of good faith if it causes a significant imbalance in parties’ rights and obligations under the contract, to the detriment of consumers”.

 

4. The Claimant also contends that there should have been a system of supervision and checking in place to ensure that such errors, omissions and misrepresentations were noticed, and corrective action taken, and if there was no such system in place, then that should also be considered as a failure of MBNA to meet its obligations under the Supply of Goods and Services Act 1982.

 

5. The Claimant contends that there was no information provided of alternative options, or comparative costs of similar PPI products from other suppliers.

 

6. The Claimant contends that no information was given regarding the additional costs that the PPI would add to the loan.

 

7. The Claimant contends that it was never explained that the PPI would attract interest.

 

8. In the light of the contentions made above, the Claimant asks that the court consider that an “unfair relationship” exists under the terms of section 140A of the Consumer Credit Act 1974. Should the court decide that section 140A does not apply; the Claimant contends that the actions of the Defendant grossly contravene ordinary principles of fair dealing as outlined in section 138 of the Act, and therefore Agreement A and Agreement B should each be ruled as an “extortionate credit bargain”.

 

9. In considering this, and all matters in this claim, the Claimant asks the court to take into account the following Principles of Business which are legally binding on [the company], under the Financial Services & Markets Act 2000, and are contained in the FSA Handbook:

 

· Principle 1 Integrity - A firm must conduct its business with integrity.

· Principle 2 Skill, care and diligence - A firm must conduct its business with due skill, care and diligence.

· Principle 3 Management and control - A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems.

· Principle 5 Market conduct - A firm must observe proper standards of market conduct.

· Principle 6 Customers' interests - A firm must pay due regard to the interests of its customers and treat them fairly.

· Principle 7 Communications with clients - A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading.

· Principle 8 Conflicts of interest - A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client.

· Principle 9 Customers: relationships of trust - A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgment.

 

10. The Claimant contends that the Defendant has been given ample opportunity to seek a resolution to the matters raised in this claim, and has offered a good will gesture of £1944.72 which the claimant accepted as part payment of the £2820.81 requested. (Difference required of £876.09).

 

11. Under CPR18 claimant requests full documentary evidence of absolute compliance with best practise in sale of PPI and detailed record of training undertaken by staff.

 

12. Accordingly the Claimant asks:

 

a) The Court finds that the Defendant acted in a way grossly contravening ordinary principles of fair dealing and reopens the credit bargain to perform restitution to rectify the unjust enrichment performed, to the detriment of the Claimant by the sum of £876.09 by conferring a benefit under an ineffective transaction.

 

b) If the Court is unable to perform restitution, then the Claimant seeks damages of £876.09 by virtue of the Defendants’ actions, be they fraudulently or mistakenly, in obtaining the Insurances.

 

c) Court costs;

 

d) The claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year, from 02/05/2001 to 03/06/2010 (included in the above figures at 12.a & b) and also interest at the same rate up to the date of judgment or earlier payment at a daily rate of £0.40

 

13. Schedule showing interest calculated at the rate quoted at (12.d) is attached to these particulars of claim, as follows:

- Schedule A - Statutory Interest calculated at 8%

 

 

 

The Claimant believes that the facts stated in these Particulars of Claim are true.

[moose73]

Just looking at the loan claim and it is £5239 with the 8%. What happens if I go to court with this one with it being higher than the £5k limit for small claims?

[moose73]

Quick update,

 

Recieved a cheque from MBNA for £1880 this morning in full and final settlement, a bit off from the £5239 I had claimed and no breakdown provided. No idea where this figure has come from as the original ppi was £3498 on the agreement (£5239 with 8%), and I am still paying this off with westcot in full?

[citizenB]

Quick update,

 

Recieved a cheque from MBNA for £1880 this morning in full and final settlement, a bit off from the £5239 I had claimed and no breakdown provided. No idea where this figure has come from as the original ppi was £3498 on the agreement (£5239 with 8%), and I am still paying this off with westcot in full?

 

Is this in addition to the cheque they have already sent you ? You could ask them for a breakdown of the figures, ask them how they have arrived at them.

[moose73]

Is this in addition to the cheque they have already sent you ? You could ask them for a breakdown of the figures, ask them how they have arrived at them.

 

no.

 

MBNA Loan PPI - Claimed: £5239, refund reveived: £1944

 

MBNA Credit Card PPI - Claimed: £2800, refund recieved: £1880

 

Doesn't look like 8% interest has been paid, and the loan was sold off after 31 of 60 payments made, but I'm still paying the full amount to a DCA, and this has not been mentioned by MBNA nor any money sent to them.

 

I have sent letters back to MBNA asking for a breakdowns and the remining amounts to be refunded. FOS are looking into the loan a/c, but are not interested in the credit card as it was before July 2001.

[Banish]

i thought they always offset the arrears before a refund cheque?

 

if your account was sold off to a DCA, you are lucky they did not send that cheque to the DCA.

[moose73]

just goes to show, they don't know what they are doing.

[moose73]

Quick update,

MBNA Credit Card PPI - Recived a letter to day to say the will refund the additional £890 of interest. Not sure if this is a result of now going to court or just the letter I sent back after the initial refund? Any I have asked them to add on the £65 courts costs to the refund. As far as I am aware they have not acknowldged the court service issue. I have also aksed for the default to be removed as well, you never know, (you don't get if you don't ask!)

 

MBNA Loan PPI - Still waiting with this one, and its with FOS as well.

[moose73]

update -

 

 

Credit card PPI.

 

Received a cheque yesterday for £960ish which covers the court fee. They also asked in the letter to cancel the court action. Fair enough. (so WON.)

 

Today received another cheque this time for £890ish (the original amount)

 

I know what I want to do;) but should I send this back:confused:

 

Loan PPI

 

Still waiting to hear from FOS on this. Incidentally I had another claim with egg and this went to FOS at the same time. I today recieved a letter from FOS saying egg was to pay back, I have to accept and sign the acceptance agreement but no amount given:confused:

[citizenB]

update -

 

 

Credit card PPI.

 

Received a cheque yesterday for £960ish which covers the court fee. They also asked in the letter to cancel the court action. Fair enough. (so WON.)

 

Today received another cheque this time for £890ish (the original amount)

 

I know what I want to do;) but should I send this back:confused:

 

Loan PPI

 

Still waiting to hear from FOS on this. Incidentally I had another claim with egg and this went to FOS at the same time. I today recieved a letter from FOS saying egg was to pay back, I have to accept and sign the acceptance agreement but no amount given:confused:

 

If you believe they have issued a cheque twice for the refund. You can a) either just send it back to them pointing out their mistake. Or b) write to them asking IF they have made a mistake:D

 

In respect of the FOS and Egg refund. This is a recent and very bizarre process that FOS have started. They expect you to say yes to adjication result without knowing how much you are to receive.

 

I think if and when you receive any information from the creditor... if you are not happy with the result you can return to the FOS.