Could it really be this easy!?

[damianmvc]

Thanks for clearing that up Glenn........but just 1 last question and I think I will be 100% clear

 

the dailsy 20% interest is that added from the date of the first charge i.e 6 years ago? Because if it is then I would basically be taking may £1401 current total and more than doubling it?!?

 

As a rough figure without doing the daily monthly compounding etc my claim would be about (810+591 =) £1401 * 120% = £3082

 

After the compounding it would work out even more, is this right or am I getting carried away here?

 

p.s sorry its taken alot of explaining for me to get to grips with this

[Glenn UK]

Damian

 

I think the best way to grasp it is like this

 

we will cal the unlawful charge 'z' and the interest you paid 'y' and the compound interest 'I'.

 

On day one you get

 

(z + y) x I = gives a new total, for day one, lets call it D1

 

On day two you get

 

D1 x I = D2

 

On day three

 

D2 x I = D3, etc etc.

 

The best way to work it out is to use one of the spreadsheets provided for the purpose by Vampiress or MINDZAI both of which can be downloaded from their respective signatures.

 

I used the one by MINDZAI and fount it straight forward and easy to use, and finally it can make a huge difference especially for charges imposed along time ago. I am claiming some from the early part of 1997 from abbey,

 

HTH

 

Glenn

[cantsay]

|Who's thread is this!?

[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

 

But on £300 of charges I got over £1000 paid out (well they said the cheque will be posted today).

 

check my MBNA link in the signature for more info. I would advise not to call them at the inital stage as I increased that offer by a further 100% of my claim by going to the MCOL stage.

 

they paid the charges

compound interest at 16% to court date £350

5% compound on lost interest for savings £160

£70 for my time

£30 expences

£80 court fee

OH AND THE ORIGINAL £300 CHARGES.

[DSM]

Cantsay, its your thread isn't it? Ha ha ha totally hijacked by everyone else and what a big help too. Tell you what any of you with munchkins out there may have watched the incredibles where Robert Parr after losing his superhero status helps everyone through the system.

 

I think Paul Miney deserves a christmas card!

 

They have probably started to threaten him now.

 

Dee x

[cantsay]

Indeed, we are all here to help each other so as long as the message get across.....

[HONESTKNOB]

Has anyone managed to get an e-mail address for Mr Miney??

[thecornflake]

Out of interest, although not wanting to hijack someone else's thread but everyone else seems to be if I don't need to send a DPA request should I try phoning them first with a total of the charges and estimated interest and see what they say?

 

I'd rather do this and get a bit less than have to go through the prelim etc stuff as I really need some money before xmas.

[bobtheb]

I should do it properly ,its only 28 days .They seem to react better when you show you know what you are doing:)

[Glenn UK]

Out of interest, although not wanting to hijack someone else's thread but everyone else seems to be if I don't need to send a Data Protection Act request should I try phoning them first with a total of the charges and estimated interest and see what they say?

 

I'd rather do this and get a bit less than have to go through the prelim etc stuff as I really need some money before xmas.

 

If you do this they will send you what they want not what your entitled to.

 

As others have proven they have lost out claiming interest on top of what they have paid in charges and interest on those charges, mainly because they think MBNA are doing them a favour.

 

YOu are entitled to claim for

 

the charges

the interest you paid as a result of those charges

interest on all the above at the contractual rates,

plus costs incurred as a result of the claim.

SAR Fee, postage, time etc.

 

HTH

 

Glenn

[thecornflake]

Thanks. I didn't know we could claim the SAR fee back which is nice.

 

I've worked out £140 of charges in the last 6 months using their online statments but I'm going to do a DPA first and hope it doesn't take too long to come through.

[aardvark the lecturer]

MBNA took about 35 days to get mine back, but sent a cheque for their 'goodwill' gesture a few days later.

[paulo Saolo]

I can't believe how easy this has been for everyone with MBNA. Really can't wait to send my stuff off this weekend.

 

Makes you wonder if this Miney guy just spends all his time answering the phone to people wanting charges back. What a job!

[roydosan]

Not sure if you can claim for these:

 

plus costs incurred as a result of the claim.

S.A.R - (Subject Access Request) Fee, postage, time etc.

 

as you usually cannot claim for costs in the small claims court. However, if you can get away with it then go for it.