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Does he have a valid claim and can I claim on his behalf??


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Hi all :)

 

PPI came into a conversation between my Dad and I last night and he mentioned that he has been paying it to MBNA for years. My dad is and always has been self employed as far as I can remember back.

 

He has given me all of his statements since 2002 and he has been paying between £10-£40 per month in PPi since and still is to date and has asked me to deal with his claim for him.

 

Will he hae a valid claim because he is self employed or is there a possibility that the policy may have covered him?

 

Am I able to claim on his behalf or will MBNA need to write to my dad directly?

 

Also I have sat this afternoon and have entered all of the figures from his statements onto one of the spreadsheets on here and it totals £5K but I am unsure about the interest calculations...what interest may he possible be due? Im confused about compound/8% interest etc?

 

Many Thanks :)

 

Claire

Edited by claireb1983
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You must down load the FOS complaint form from their website.

 

There is a space on there for someone to act as "agent" - your Father will need to sign the form to say he gives you the authority to act on his behalf

 

HTH

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PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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And this is the spreadsheet you should be using

 

FosRunningPPI v101.xls

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

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Read Here

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Read Here

 

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Hi all :)

 

PPI came into a conversation between my Dad and I last night and he mentioned that he has been paying it to MBNA for years. My dad is and always has been self employed as far as I can remember back.

 

He has given me all of his statements since 2002 and he has been paying between £10-£40 per month in PPi since and still is to date and has asked me to deal with his claim for him.

 

Will he hae a valid claim because he is self employed or is there a possibility that the policy may have covered him?

 

Am I able to claim on his behalf or will MBNA need to write to my dad directly?

 

Also I have sat this afternoon and have entered all of the figures from his statements onto one of the spreadsheets on here and it totals £5K but I am unsure about the interest calculations...what interest may he possible be due? Im confused about compound/8% interest etc?

 

Many Thanks :)

 

Claire

 

 

third sheet here

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011

 

You use THEIR purcHase int rATE.

 

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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Many thanks for all the helpful replies, thats great that I can act as his 'agent'.

 

The spreadsheet I have used is the one that ims posted. Am I best sending the completed spreadsheet along with the fos form? Do I also send them a copy of all of the statements?

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me and him posted the same one!

 

he beat me!

 

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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Share on other sites

Many thanks for all the helpful replies, thats great that I can act as his 'agent'.

 

The spreadsheet I have used is the one that ims posted. Am I best sending the completed spreadsheet along with the fos form? Do I also send them a copy of all of the statements?

 

FOS CQ + SOC + covering letter

 

to MBNA

 

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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Share on other sites

Great thanks :)

 

Would these figures be about right?

 

Monthly cost of PPI - £1886.14

Compound interest - £3058.11

8% simple interest - £963.43

Total - £5907.68

 

This is what I have on the spreadsheet

 

Thanks

 

Claire

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Great thanks :)

 

Would these figures be about right?

 

Monthly cost of PPI - £1886.14

Compound interest - £3058.11

8% simple interest - £963.43

Total - £5907.68

 

This is what I have on the spreadsheet

 

Thanks

 

Claire

 

Can you post up the spreadsheet MINUS ALL PERSONAL INFORMATION

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

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I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

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my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

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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!!

.

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 if

you have many images too rather than many single pdfs

.

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

.

.

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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Share on other sites

Well its the right spreadsheet so provided you have entered the information correctly then its fine

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

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  • 2 weeks later...
  • 2 weeks later...

Hi :)

 

I have just got home to a letter from MBNA upholding my claim for my Dad - he is going to be so pleased :)

 

But....the figures differ alot to what I had worked out using the spreadsheet. Using the spreadsheet I got the following

 

Monthly cost of PPIlink3.gif - £1886.14

Compound interestlink3.gif - £3058.11

8% simple interest - £963.43

Total - £5907.68

 

MBNA's figures are as follows;

 

PPI premiums charged - £2077.42

Interest - £1449.72

8% simple interest - £853.66

Total - £4,380.80

 

The PPI premiums will have been out a little as the first few statements were missing so this seems correct.

 

Why would my compound interest calculation be so out??

 

Thanks

 

Claire

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Interest rate?

 

Have you used an average of the purchase rate over the period?

 

You said that PPI has been paid right up to now and that the account is still live?

 

You can also ask them for a detailed breakdown of their calculations.

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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Hi ims, thanks for such a quick reply.

 

I have used the interest rate 14.90%

 

Yes the account is still live and the PPI has always been paid, the final response I have received confirms that they have cancelled the PPI cover for my dad on the back of my claim.

 

Should I trust that their calculations are correct? My dad will still be over the moon with the figure they have suggested.

 

Thanks

 

Claire

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Hi

 

The 14.9%....how have you arrived at that? For example, if you have used the latest rate on the statements and in earlier years the interest rate was less then this would make a difference.

 

Sometimes you have to take a view on these things because when all is said and done it is what the claimant is happy with that counts.

 

If it were me I'd be interested to know where the differences are and would want to ask them for the detailed calculations.

 

However, this is your call.

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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That monthly rate gives and APR of 15.9% but I would doubt that it has been the same for the lifetime of the card.

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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I have just looked back thorugh his statements....

 

The interest rate was 1.2408% from 2002 to 2005

2006 it changed to 1.3852%

2007 it changed to 1.4566%

2009 it changed to 0.7935% (this was because he called them to cancel the PPI and they persuaded him to keep it by reducing the interest rate.

2010 it changed to 1.2408% and this is the current interest rate

 

What rate should I have used for my calculations?

 

Thanks again

 

Claire

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Well that drop to .7935% would probably even it out so that your 14.9 is probably not far off when we weight the average for the periods of time involved.

 

I'm just a curious soul and hence my interest in the difference between your figure and theirs.

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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