Debt_mountain vs MBNA

[debt_mountain]

Sent sar on 28/8. Tried my luck by phoning them after 17 days to try the "lets settle this quickly" approach. They said they couldn't find my letter on file and could I email a copy. There is currently a large backlog of these "complaints".

 

My data is old and needs to be dearchived so may take a little longer. Oh, what a shame, I aint changing my timetable- tough.

[debt_mountain]

Got my list of charges back. offers £115 which is the difference between the amount they beleive I was charged and the OFT £12 guideline.

 

Will phone them after 9am and ask for full amount + contractual interest + compound interest.

 

The account had a lot more charges before the 6 year cut off, I may try to push this also.

 

will update later on.

[debt_mountain]

phoned them at 10am and they were adamant that the guesture of goodwill is all they will offer but they will phone back after 4pm to confirm how it will be paid back and the exact amount that will be paid.

 

Request my money back letter is being prepared and will be emails today if it is not for the full amount and the default lifted.

[debt_mountain]

Well LBA tilelimit been and gone.

 

N1 in the post today so should be server on Thurs/Friday.

 

I put the charges inc compound interest (16% to be conservative) plus the loss of savings interest I could have got (4.85% my current saving rate) plus 4 hours research and letter wrinting at my current hourly salaried rate plust admin costs.

 

Just short of £1000 so only an £80 fee for the court...

 

They don't have a default against me as the debt was passed to my pals at Cabot.

 

tick tock, tick tock.

[debt_mountain]

Got a reply to my prelim including a cheque for charges but not the interest as reuested.

 

They say I accepted it over the phone, but I actually rejected it over the phone and also in an email I sent them (read receipt was received by me).

 

Same day I got this letter the claim was served on them.

 

Lets see what they do now.

 

I accepted the cheque as part payment and informed the court of the part payment.

 

 

tick tock tick tock.

[debt_mountain]

Well, MBNA phone today and offered the last bit of my claim the day before the 14 days acknowledgment period was required.

 

Just waiting for the cheque before I inform the court.

 

Result

 

Charges (which they paid out at the Prelim stage) £300 is

interest I claimed at 16% from originating date to court date £350, they claimed it was £250 as they only pay upto the balance going to ), I understand that.

 

But I also claimed for loss of interest if I had saved the £300 at 5% compound totalling £170

 

plus 4 hours of my time investigating, researching and writing letters (£70) and £30 in cost for printing, posting, petrol etc.

 

Plus the £80 court fee

 

So all in from £300 of charges they paid out double what the interest would have been.

[whitepriest]

Evening Debt Mountain,

 

Nice one on your 'win' ha..

 

Out of interest, please could you PM me the e-mail address you used for just post it on here if that's ok ? Would like to keep it for when I get to the LBA/Court filing stage.

 

Thanks

 

WP

[debt_mountain]

[email protected]

[debt_mountain]

cheque received this morning.

 

Plus my second Nationwide payout started today. £3k received other £7k is being posted.

 

What a good day I am having.

 

yes!!

[shoe_junkie]

Wow!! Debt Mountain you have done so well, maybe you should change your name to money mountain!

 

I think I may be coming to you for lots of advice:p