Abbey ==MBNA

[ims21]

Hi ro

 

wait for the SAR...thats all you need to do for the mo

 

ims

[dpick]

May be of interest but I had same Abbey card purchased by MBNA when I did SAR with MBNA no agreement in data sent. Inquired with Abbey they do not know me now, no details as more than seven years after card purchased by MBNA so they did not have to keep data.

 

DCA became involved tried recon agreement but they did not know it had been Abbey card first and recon was just for an MBNA card soon blew them away now holding that info in reserve.

 

dpick

[ro284]

Well we have the reply to the SAR from MBNA, I was wondering how or if they would refer to what is known as PPI pre the 6 years, they refer to these payments as 'POSTED CREDIT INSURANCE FEES' taken on the same date each month (from 04 ) prior to them giving the correct title PPI,08 They sent a very poor copy of original agreement in which it mentions my S/E but no where can i find anything relating to a PPI or Posted Credit Insurance Fees, Agreement! in between that title by the way it refers to CREDIT INSURANCE PLAN COVERAGE before PPI in 08! they also mention SPECIAL CASH INTEREST, POSTED RETAIL INTEREST, POSTED CASH ADVANCE INTEREST, POSTED CASH ADVANCE FEES,Any translation or advice on the above would be much appreciated.Regards Ro

[ims21]

Well we have the reply to the SAR from MBNA, I was wondering how or if they would refer to what is known as PPI pre the 6 years, they refer to these payments as 'POSTED CREDIT INSURANCE FEES' taken on the same date each month (from 04 ) prior to them giving the correct title PPI,08 They sent a very poor copy of original agreement in which it mentions my S/E but no where can i find anything relating to a PPI or Posted Credit Insurance Fees, Agreement! May not be any reference to it in the agreement...it wouldn't be the first time! in between that title by the way it refers to CREDIT INSURANCE PLAN COVERAGE before PPI in 08! they also mention SPECIAL CASH INTEREST, POSTED RETAIL INTEREST, Possibly refers to the interest rates for cash advances and normal purchases POSTED CASH ADVANCE INTEREST, POSTED CASH ADVANCE FEES, The amount of interest added (or "posted") to the account on the cash advances and purchases Any translation or advice on the above would be much appreciated.Regards Ro

 

Regards

 

ims

[ro284]

ims how are you? thankyou,i don't think i have seen PPI mentioned as 'POSTED CREDIT INSURANCE FEES' could you tell me if this is a valid term? does it make any difference what it's called, can i treat it of refer to it in tha same way as PPI ? My problem is i i know longer trust these institution's, (after all they appear to have taken my money under false pretences) Also i am a bit confused as to when or at what stage i can claim 'the account is in dispute' with the library letter.

[ims21]

ims how are you? thankyou,i don't think i have seen PPI mentioned as 'POSTED CREDIT INSURANCE FEES' could you tell me if this is a valid term? does it make any difference what it's called, can i treat it of refer to it in tha same way as PPI ? My problem is i i know longer trust these institution's, (after all they appear to have taken my money under false pretences) Also i am a bit confused as to when or at what stage i can claim 'the account is in dispute' with the library letter.

 

Hi ro

 

I'm good thanks.....you?

 

The magic words are "Credit Insurance"...that is your insurance premium and is PPI by another name.

 

Try not to let the wording or technicalities cloud your thinking....in simple terms you want back anything that has the word insurance in it.

 

A ppi claim doesn't, unfortunately, put the account in dispute.

 

Regards

 

ims

[ro284]

Hi ims, i am also good thankyou, feel better for knowing there is help and advice availiable such as yours, whilst i could draw a wiring diagram for an oil refinery, i do not understand banking at all, and in the past mistakenly relied on the once honourable instututions to do that for me. your answer to my above question is another nugget of helpfull info for me.regards Ro

[ims21]

Hi ro

 

I know what you mean...when you're out of your comfort zone it is all a bit baffling.

 

Next time I need a wiring diagram for an oil refinery I know where to come!

 

Regards

 

ims

[ro284]

Ha ha, beginning to think i am owed enough to build my own refinery! Could you advise what interest i should apply on the cis sheet please, would it be the same as Capital one? can i get any over,and late.or interest charges back?Regards Ro

[ims21]

Hi ro

 

Have a look at No.4 in my signature.

 

One of the considerations in respect of the rate you charge will be whether you intend to sue or let fos deal with it. fos will not award a higher rate of interest in restitution but a court can.

 

If you choose to go to court, bear in mind the £5,000 small claims limit and the possible exposure to costs if the claim exceeds that figure and you lose. If you opt for the court route from the outset you set your own timescales. If you are going to go the fos route then you would submit you claim and the lender will have 12 weeks before they have to give you a final decision.

 

As regards interest rates, if going the fos route you would typically use the rate that the card company were charging you and the award would also have 8% simple on top.

 

Late payment/over limit fees can be reclaimed but not as part of the ppi claim. They are a different kettle of fish and you would have to sue to get those back. They may cave in before court but you would need to plan on the basis that you will have to get into a court room and present your case.

 

Regards

 

ims

[ro284]

Thanks again ims, i will copy your page 4 in sig, printer out of ink, the interest is something i must study and learn how this works, however looking through the papers mbna sent it looks to me as though i tried to cancel PPI in 09, (without success!) then phoned again in 10 and managed to cancel, As for APR IN 08 There was a reprice ----Retail spc 3 APR TO 34.90% Reprice ccc spc 4 APR TO 34.90% WELL TO CUT A LONG LIST SHORT! All interest rates relating to codes on a list were increased from 24.90% to 34.90% All a mystery to me, will get studying! I realy do not mind if i need to go to court, because i think it is so wrong the way people have been treated, by banks etc. very often it appears they take thier PPI payments,first. then on my statement, soon after i get a late payment charge! or over limit charge!i do notice they only regognise as far back as 04, statements, which was Abbey, However i do have statements with PPI from 02--04 from Abbey National. Thankyou again for your time, Hope to get on line again soon, but pc screen keeps going black! thought i died! lol.Regards Ro

[ro284]

Hi all, Well i have looked at all these sheets of paper from mbna, looking for interest charges right from the beginning, but cannot seem to find any mention of APR other than the reprice in 08 from 24-90% to 34-90%, which would imply that the interest rate i have been paying from the start is 24.09% ! does that seem average? i suppose i expected an original agreement with this info included, however mbna took over from Abbey.in 05, and prior to this was Abbey National, which in the reply to SAR is not mentioned at all, but i have all statements from Abbey National, should mbna have sent this info also? Any advice please, my PPI payments made are around £ 1,500 by my calculation.On a better note my doc has written a letter to send to creditors about my state of health, in the hope they will stop harrasing me while i await treatment from the head mending doc,I am trying hard to get on top of this and ather accounts before i can even begin to go for G.E. Regards Ro

Edited October 4, 2011 by ro284

[ims21]

Hi ro

 

What I would do is take the average rate between 24.9% and 34.9% and use that resultant rate for your claim

 

Regards

 

ims

[ro284]

Thankyou for your reply ims, sorry for late reply, head all over the place just now, with the interest rate question, i think what i am worried about is getting the calculation wrong, the reason is that i have the other account (Abbey National) which i have statements for back to 02,-04. but no original agreement or APR on this one, this on top of the two above! could you tell me how that rate, would figure in the above interest calcs please? and if i make a mistake do they just laugh it off under the label= No Chance!Also i have been looking at the Hardship template letters, at the end of the day, basically i have been working for the banks for years!! i think this is something else to consider for my little brain, Am i best to continue with the PPI situation first, i have great difficulty in understanding which order to do things, Regards Ro

[ims21]

Hi ro

 

Don't worry...you can't really get the interest rate wrong. Think of it along the lines of for some of the period they charegd you 24.9% and for some of the period they charged you 34.9%. By taking the average you smooth the rate out over the period you had the card. So 24.9 + 34.9 / 2 = 29.9% That is the rate you should use in your calcs.

 

I can't see that a spreadsheet as been posted in this thread...have you got one downloaded that will do the calcs for you?

 

The hardship route is used to reclaim charges on current accounts....is this something you are considering?

 

There is no reason why you should not launch a number of claims at the same time but only do so if you are sure you can keep on top of them effectively.

 

Regards

 

ims

[ro284]

Thankyou for that ims, I do have a cis sheet,i think in my situation at the mo, it best to slow down a bit and not go for too many things all at once, and not take on more than i could cope with. i am considering the hardship route also to claim back charges, because of the PPI payments they always take first, that has led to many penalty charges! causing me hardship now. When you say -current accounts, in which context do you mean current? i was thinking of claiming on old accounts no longer in use. if i can?Regards Ro

[ims21]

Hi ro

 

Sorry...in context I meant a bank current account....you know, the ones used for day to day stuff as opposed to loans etc

 

regards

 

ims