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For various reasons I've only just had a chance to sit down and get back on top of this :-x I've redone my spreadsheet as per post above and I've used an average of all the known PPI payments lifted from my SAR to give me my unknown/unprovided amounts :| This figure as above comes out as £75-60. I used this interest calculator http://www.egalegal.com/compoundWindow.html to add interest to all amounts but I would now like someone to check the calculations as I have a reclaim figure of around £90,000 and I'd rather not send it off and be laughed off the planet if I've made some simple errors :roll: It seems like a really huge amount to me judging by other claims on here but then it does span around 16 years :?:

 

I can upload the sheet or just some random dates and figures should anyone feel inclined to take a quick look :D

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Cheers dx :D

 

I've tried PMing dj1971 but it appears their PM inbox is full and can't take any more currently!! I'll try again in a couple of days and see if it has been cleared :(

 

try again

i notice he is back around again

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi Smoothound,

 

Am also having a go at MBNA and have PM'd you.

 

As I was unable to attach a copy of the spreadsheet I've used in the hope that it may help you, I have given you my private email address for you to use.

 

Under normal circumstances I would not do this but couldn't think of any other way of getting the info to you.

 

Have also made this fact known on here so that the site team are aware of it, just in case they have any problems with it.

 

Regards,

 

Bosun.

Please note: I have no formal qualifications in this area and any advice offered is given in good faith. :)

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Smoothound,

 

Personally I would not get too bogged down about the exact amount you are reclaiming, they will be doing their ow calculations anyway should they decide to refund you.

 

The most important thing is that you have given them the impression that you have an idea of how the calculations are done.

 

In terms of the unknown amounts the FOS used the following method in one of my reclaims and it worked well.

 

Calculate the total amount of PPI you know you have paid.

Divide this by the number of months for which you have a PPI figure.

This will give you an average monthly premium.

Multiply this by the number of months for which you do not have a figure.

 

Personally I agree with Dx about mentioning self employed.

 

As you were employed when you took out the policy it would have been your responsibility to inform them of a change of circumstances like becoming self employed.

 

MBNA will just say they policy was sold on the basis of the information provided at the time and they were not informed of any change of circumstances.

 

Entirely your decision though whether to add it or not.

 

Remember to send the letter by special delivery to MBNA's registered address and keep the receipt as proof of postage. Makes no difference if MBNA do drag their feet, they have statutory 8 weeks to provide a final response and if they do not you are well within your rights to refer the case to the Financial Ombudsman Service.

 

Good luck

 

DJ

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Thanks for your comments. Final editing almost completed then I will get it posted off to them and hope for the best :D

 

I've edited my letter below, is there anything else I should add to it or remove in your opinions?

 

 

 

 

 

 

Dear Sir/Madam,

 

Ref – policy number

 

I believe I have been mis-sold a payment protection insurance policy and would like to request a full refund of my premiums, plus interest paid for the following reasons.

 

1/ When I took out the card, I was advised that my application would probably be refused if I did not tick the box to include the PPI policy. The Financial Services Authority’s advice to consumers is that, while it does not breach FSA guidelines, a borrower should not be refused a loan if they choose not to buy an insurance policy.

 

2/ Due to point 1, I was led to believe that the PPI policy was compulsory not an option and felt pressured into having it attached to the card.

 

3/ I was not advised that I could get similar insurance elsewhere outside of MBNA.

 

4/ The Terms & Conditions were not fully explained to me and they were never sent out to me when I was accepted and received the card.

 

 

I do not believe being forced to buy this policy as part of the card application was a fair and reasonable obligation as I did not need this insurance nor would I have been able to use it once I became self employed.

 

 

I am requesting a full refund of all my insurance payments, plus interest, which total £******. I enclose a spreadsheet printout of my calculations including estimated payments to cover the early payments. The estimated payments are included because so far you have failed to provide these details even after sending me a letter dated 24/9/10 assuring me of “a full written response within 40 days from the date we received your letter”

 

If I do not receive a favorable response from you I will pursue this claim through the Financial Ombudsman.

 

Yours faithfully,

Edited by Smoothound
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Thanks DJ.

 

This is the address I've been using for most of my communication with them and it seems to work so I assume it's the correct one?

 

 

MBNA Europe Bank Ltd,

PO Box 30,

Chester Business Park,

Chester,

CH4 9WW.

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  • 2 weeks later...
  • 3 weeks later...
  • 4 weeks later...

So the last letter gave a date around the end of April and today I've received another with the same spiel as above saying they will contact me again "within the next 21 days..."

 

Is this just stalling tactics or do they always do this? Surely it's not that hard to say yes or no to my request??

 

Is it time to write a letter or phone the FOS or just go the court route?

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Hi Smoothound,

 

This happened to both myself and my wife so does not seem out of the ordinary for them.

 

For us they sent a third letter asking for proof of our employment status, which we sent, and within a couple of weeks got a refund.

 

They only refunded the principle though so we complained to the FOS. This complaint had been with FOS for over a year so we're now taking the court route.

 

In your case I don't think the FOS will accept a complaint untill you get a letter from MBNA saying it's their final decision though.

 

Regards,

 

Bosun.

Please note: I have no formal qualifications in this area and any advice offered is given in good faith. :)

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I'm a bit confused here! Having read around a bit more it seems to me they are not duty bound to pay out the compounded interest anyway and only pay the 8% if it goes via the court? If this is the case it seems futile and a waste of time do the spreadsheets in the first place! Or am I just reading things wrong?

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I'm a bit confused here! Having read around a bit more it seems to me they are not duty bound to pay out the compounded interest anyway and only pay the 8% if it goes via the court? If this is the case it seems futile and a waste of time do the spreadsheets in the first place! Or am I just reading things wrong?

 

I've had a couple of successful claims for PPI and got the compounded interest. If your complaint is upheld, you should be put back in the situation if you had not had the PPI charges taken, so this would include the interest that had built up over time. So the way I see it, is if you get your PPI charges + compounded interest, all they are doing is paying back what they have taken. The additional 8% a court would award is compensation I feel.

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Ditto here Citybloke,

 

The one with Egg, which included principle, compound, simple at 8% plus £250 for the inconvenience they had caused got £7,500 knocked off my balance.

 

We're going a bit harder with MBNA claiming 8% on top due to the fact that they had use of our money due to their 'mistake'. They were charging us 19 & 16% respectively so 8% seems a fair amount.

 

And, if the court wishes to add a bit extra, who are we to go against the Courts of this fair land?

 

Regards,

 

Bosun.

Please note: I have no formal qualifications in this area and any advice offered is given in good faith. :)

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Ditto here Citybloke,

 

The one with Egg, which included principle, compound, simple at 8% plus £250 for the inconvenience they had caused got £7,500 knocked off my balance.

 

We're going a bit harder with MBNA claiming 8% on top due to the fact that they had use of our money due to their 'mistake'. They were charging us 19 & 16% respectively so 8% seems a fair amount.

 

And, if the court wishes to add a bit extra, who are we to go against the Courts of this fair land?

 

Regards,

 

Bosun.

 

Hi Bosun

 

Have you written to MBNA threatening court action and if so, what was their response?........i'm drafting a letter today to send to MBNA stating i'm going with the courts option, so just wondered if they had commented on your action?

 

Cheers

 

Citybloke

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Hi,

 

MBNA have not bothered to respond to my Letter before Action, which was sent recorded fortunately. This was sent over 28 days ago so they have had enough time to respond but why they haven't I don't know.

 

Next stop is the N1 form into our local courts for my cliam, and claimonline for my other halves.

 

Smoothound, sorry to highjack your thread. Will start another of my own detailing the steps I'm taking in the hope that it will be of some assistance to others.

 

Regards,

 

Bosun.

Please note: I have no formal qualifications in this area and any advice offered is given in good faith. :)

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  • 4 weeks later...
So the last letter gave a date around the end of April and today I've received another with the same spiel as above saying they will contact me again "within the next 21 days..."

 

Is this just stalling tactics or do they always do this? Surely it's not that hard to say yes or no to my request??

 

Is it time to write a letter or phone the FOS or just go the court route?

 

I've just completely reread the last letter giving themselves another 21 days from 21/4/11 and at the end it says words to the effect of " we are obliged to inform you of your right to refer your complaint to the FOS, within 6 months of the date of this response..."

 

I'm now obviously outside the time limit they have set themselves and have still had no further response apart from a couple of phone calls and a letter from Experto. I'm not sure whether to contact the FOS or should I send some sort of LBA first and just go the court route? I know at the end of the day it is my choice but I'm just not sure about the next step. Is it just stalling and what is that comment about 6 months supposed to mean? Or is that just more blarney?

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I'm by no means an expert but, it is my understanding that if you wish to take your complaint to the fos then you have upto 6 months from the date of their letter to do so. After that the fos will not deal with it. I'm sure there will be other CAG's to correct me if I am wrong.

Shelley

Santander PPI X 2 **WON** claims on behalf of son (Oct 2010/ Mar 2011)

Citicard O/H (PPI) - **WON** Compound Interest Dec 2011

Citicard O/H (Charges) Bailiffs sent in August 2012

Barclaycard - **WON** Compound Interest Oct 2011

Monument - account information being sought for OH

Citicard - self - N1 submitted August 2012

Barclaycard - self - **WON** damages for non disclosure/information now rec'd. Aug 2012

Barclaycard - relation - Failed SAR sent 29/09/11

Halifax SAR sent 18/08/2011 for relation

LTSB - SAR sent 09/08/2011 for friend

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I'm by no means an expert but, it is my understanding that if you wish to take your complaint to the fos then you have upto 6 months from the date of their letter to do so. After that the fos will not deal with it. I'm sure there will be other CAG's to correct me if I am wrong.

Shelley

 

I thought it was 6 months from their final comment?

 

Nowhere in the letter does it say final comment on the matter which I thought was the start of the 6 month timer? In fact it says they are still investigating... Actual wording is

 

"I apologise that due to unforeseen circumstances it is taking us longer to respond to your complaint; we would still like the opportunity to resolve your complaint, and will do so within the next 21 days."

 

By my calculations I am now on day 38 so they've over run by at least 17 days so far!

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the FOS time limit is 'from the letter which states this is their final response'

 

just to clarify.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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