Where to take my MBNA claim???

[Guest alan703]

*

PPI premiums paid £632.10

Associated Interest £367.27

Simple 8% £636.13

*

Total due £1635.50

 

I've refused their offer. I had this card for 6 years and I know for a fact my average balance was way more than £1200 which I think £632 would equate to (average £10 ppi per month).

 

I have told them I will wait for the SAR so I can asses the claim myself. Glad I posted my FOS claim as well now - was going to trust them!!!

[Guest alan703]

MBNA say I did not use the card between openin it in 5/98 and 12/98. I find it very hard to believe I was 18 and took out a credit card, to not use if at all. I woul h e used it for fuel at the very least as I was based in Cardiff at the Time, and home was 600 miles away.

 

I am going to try and get a copy of my current account statements from TSB to check if I made any payments.

 

As a pessimist, is it possible for MBNA to "make transactions and or PPI disappear" when they send you copy statements? And how would you check without having something to check it against.

[ims21]

Hi

 

Sorry...posts 25 and 26 don't seem to tie in.

 

They have made an offer of £1,635 and yet post #26 says the account was only open from 5/98 to 12/98 and wasn't used?

 

Have I missed something (quite possible of course)

 

ims

[Guest alan703]

Yeah,

According to an old experian report I opened my account in 5/98

 

It ceased on 9/04 due to a trust deed

 

MBNA say I only used the account from 12/98 to 09/04

 

So there are no Ppi premiums between 5/98 and 12/98

 

I do not believe them, although it should make very little difference in the big picture. I know I spent up to £8000 on the card, and paid very little back as I transferred it to a loan. I cannot see how it is possible I only paid £633 in premiums.

[ims21]

OK so back to waiting for the SAR then.

 

I don't think there is any danger of them missing payments off since it would affect the whole transaction history of the account

 

ims

[Guest alan703]

So don't bother getting statements from TSB to cross check?

 

If my balance was £6000, Ppi would have been £42 for one month?

 

I cannot believe my average balance over 6 years was £1200 as I regularly hit my credit limit which at one point was £7500. It also took me 7 years to get into 21000 of debt that resulted in my trust deed (MBNA credit card and loan) ( cahoot loan and Halifax credit card)

[Guest alan703]

I also want to claim the elect of ppi balance from the credit ard that was moved to an mbna loan (which did not have PPi) how do I do this?

 

Sorry if I'm postin too much

[ims21]

Well the statements would only tell you what payments you made to the card.

 

Ideally it is the card transaction history you want to get if possible. The SAR may get you that information provided it not too old.

 

The other thing to do is write and ask them for a detailed breakdown of how their offer amount is calculated. We have seen threads on here where, after a bit of pushing, the lender sends through a breakdown of the calculation setting out each premium and the interest on that premium.

 

ims

[Guest alan703]

Will the SAR provide the transaction history.

 

I have emailed and asked for a breakdown of the figures they used for calculation. They must have them, or they just plucked a number out of thin air to offer me.

[ims21]

SAR should provide transaction history provided they still have the data from so long ago.

 

If they say they haven't got it then you will want to know how they arrived at their PPI offer without it

 

ims

[Guest alan703]

I will keep you posted. I'm very distrusting off them. So expect a lot of posts when I receive the SAR

 

Alan

[Guest alan703]

Date Amount

20/11/2001 606 18% APR Transfer to Halifax Credit Card which also had PPI

11/03/2002 880 18% APR "" ""

15/03/2002 326 18% APR "" ""

30/04/2002 2000 18% APR "" ""

30/07/2002 3182 8% APR 99% sure this is the opening balance of my Cahoot Loan which also had PPI on for 5 months

05/08/2002 2325 18% APR Transfer to Halifax Credit Card which also had PPI

25/09/2002 1221 8% APR Transfer to Cahoot Which also had PPI

13/11/2002 3400 18% APR Transfer to Halifax credit Card which also had PPI

05/09/2003 70 8% APR Transfer to Cahoot (Cahoot PPI was cancelled by this point)

 

This is the money I can prove I transferred from my MBNA credit card so far. So an element of this is obviously PPI charges accrued from 1998 until I started to move the debt to other credit accounts.

 

How do I claim the PPI associated interest back. an element of the balance transferred would have been PPI charges, therefore I was paying PPI on PPI so to speak. Very complicated I know, but would appreciate guidance.

 

On a separate note - what is the deal with bank charges. Looking at my halifax statements, there are an awful lot of them £20-£30 a pop. Is it worth claiming back? or should I just be happy with the PPI amount.

 

Halifax and Cahoot have agreed to refund my PPI, we are just negotiating how much.

Edited May 10, 2012 by alan703

[ims21]

Date Amount

20/11/2001606

11/03/2002 880

15/03/2002 326

30/04/2002 2000

13/11/2002 3400

 

 

Sorry Alan

 

Not sure what these are?

 

ims

[Guest alan703]

sorry, I hit the wrong button - it's been fixed now.

 

Sorry Alan

 

Not sure what these are?

 

ims

[ims21]

OK these appear to be balance transfers...they do not help us with quantifying the ppi added to the MBNA account.

 

Any PPI on the MBNA card account will feature as distinct items on the account on a month by month basis.

 

ims

[Guest alan703]

Thanks IMS, I understand what you are saying - I am waiting for the SAR to work out the MBNA charges.

 

What I am looking for is the effect these balance transfers have had on my other accounts.

 

As you can see, I have transferred around £10000-£15000 of debt from MBNA into other accounts so they will not be on MBNA's calculations?

 

I may be slow??? do you need too work out what my MBNA balance would have been at the time I made the transfers had the PPI not been added?

 

In any case, MBNA think that the PPI premium on £10000 is only £633

 

Halifax are paying at least £687 in premiums on an account that maxed at £7000 for only 2 years (which was opend 6 years after the MBNA one)

[Guest alan703]

IE,

 

Say my balance was £1500

of that £1500, £500 was PPI

I have transfered the £1500 to a consolidation loan.

In effect, I have transferred £500 of PPI payments to a loan and or credit card that I am then paying more PPI on and 8-18% interest (cahoot/Halifax rates)

 

This is the money I want back.

[ims21]

Hi

 

OK slow down a bit.

 

Take the MBNA card...your balance would have moved up and down depending on what you drew and what you may have repaid from time to time. MBNA would charge PPI on a monthly basis depending on the balance on the card from month to month.

 

You are correct that they would also have charged interest on it.

 

So when we know exactly what the ppi and interest figure is, that is what they will repay you.

 

That is the end of their responsibility.

 

So now look at where you may have transferred a balance to another card and they charged PPI on their balance. It is then that card company's responsibility to repay their mis-sold PPI themselves, not MBNA.

 

You will have separate claims against each company that charged you mis-sold PPI.

 

ims

[Guest alan703]

Assessing Losses - this is where I was coming from (Maybe it's only relevent if you run into a credit balance after reconstruction)

 

http://www.bbc.co.uk/news/business-13265128

 

On the Halifax case, I have all the statements but only back to 13/08/01 with a brought forward balance of £1458.16

 

Which calculator should I use?

[ims21]

Some of that is to do with going to court but the onus of proof is on the claimant to prove mis-selling in the first place.

 

If you have all the statements from a certain point in time you can use the attached spreadsheet.

 

Your opening entry for monthly spend should be the opening balance that you have and then the spreadsheet should calculate the ongoing balance correctly from that point.

 

Follow the instructions in the sheet.

 

ims

 

FosRunningPPI v101.xls

[Guest alan703]

Thank you very much - MBNA have agreed to pay, I'm questioning how much.

 

I have all the proof I need for the main reason that it was mis-sold in the first place - I was a member of the Armed Forces, and I'd like to see them prove I wasn't.

[ims21]

Yes we have covered the MBNA one and are waiting for the SAR.

 

I was responding to the Halifax question.

 

You can choose to sue if you wish and the process for that would be prepare a spreadsheet of claim with whatever you want to claim back. You might consider interest in restitution 9See no.4 in my signature.

 

Damages could be claimed but again you will need to do a lot of work to actually quantify an amount.

 

Also be aware that if your claim is on excess for £5,000 (assuming you are in England) then you need to consider that it will fall outside small claims and there are implications for the other side's costs should you lose the case.

 

ims

[Guest alan703]

I am on the upper side of the brder - small claims I believe is £15000 limit.

 

I'm confused with the spread sheet

 

 

Claimant Name: [EDIT] Monthly Cost of PPI £10.04

 

Lender Name: Halifax Compound Interest £0.15

 

Account Number: 5295 8% Simple Interest £0.00

 

Interest Rate: 18.00% Total £10.19

 

17/08/2001 £1,458.16 £177.64 -£1,280.52 £10.04 £10.04 £0.15 £10.19 -£1,270.33 £0.00

 

The balance for that statement is £1286.81

what have I done wrong? It doesn't appear to have added the monthly interest of £6.29 (£1280.52 + £6.29 = £1286.81)

 

Is there a way to make a table in a forum post?

[Guest alan703]

I have another problem

 

The 2001 statements all say

Balance Brought Forward"

Payment

Interest on Cash Advance

Interest on Purchases

"Including IPT" (which on few statements is preceded by Credit Cards Payment Insurance, It then drops the IPT bit. So I'm assuming it's just different formats.)

 

The rest of the statements are full ones.

 

Could I start with the full statements, then just add the premiums from the first 6 statements to it?

 

I hope you have nothing better to do than help people out

[ims21]

Upload the spreadsheet...BUT TAKE OUT YOUR PERSONAL INFORMATION FIRST

 

Use this method by dx100uk

 

scan the required letters/agreements/sheets

as a picture[jpg] file

don't forget you can use a mobile phone

or a digital camera too!!

or convert them to .PDF

ENSURE: remove all pers info inc barcodes etc using paint program

but leave all figures and dates.

 

goto one of the many free online pdf converter websites

it would be better to upload a multipage pdf

than many single ones

or if you have PDF as an installed printer drive use that

or use word and save as pdf

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

NB:you can set where it goes in the post by hitting insert inline.

then hit reply button

 

ims