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Could it really be this easy!?


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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 :D

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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

Kick the shAbbey Habit

 

Where were you? Next time please

 

 

Abbey 1st claim -Charges repaid, default removed, interest paid (8% apr) costs paid, Abbey peed off; priceless

Abbey 2nd claim, two Accs - claim issued 30-03-07

Barclaycard - Settled cheque received

Egg 2 accounts ID sent 29/07

Co-op Claim issued 30-03-07

GE Capital (Store Cards) ICO says theyve been naughty

MBNA - Settled in Full

GE Capital (1st National) Settled

Lombard Bank - SAR sent 16.02.07

MBNA are not your friends, they will settle but you need to make sure its on your terms -read here

Glenn Vs MBNA

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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.

If I have helped click my scales....

 

Find my threads by clicking here

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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

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Out of interest, although not wanting to hijack someone else's thread but everyone else seems to be :D 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.

If you found this post useful please click on the scales above.

 

Egg - £400 - Prelim sent. On hold.

Mint - On the list Est £800

GE Capital - On the list (3 accounts!) Est £4000

 

MBNA - £545 Prelim sent 13/11/2006

LBA sent 1/12/2006

£350 partial payment received 18/12/2006.

Full settlement received 20/1/07

 

NatWest - Est £4000 not incl interest

Data Protection Act Sent 10/1/07

Statements received 24/1/07

Prelim sent 3/2/07

Full Settlement received 22/2/07

 

The contents of this post are the sole opinions of The Cornflake and not necessarily the opinions of any other members of this group. They do not constitute sound legal or financial advice and if in doubt you are advised to seek advice from a qualified professional

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Out of interest, although not wanting to hijack someone else's thread but everyone else seems to be :D 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

Kick the shAbbey Habit

 

Where were you? Next time please

 

 

Abbey 1st claim -Charges repaid, default removed, interest paid (8% apr) costs paid, Abbey peed off; priceless

Abbey 2nd claim, two Accs - claim issued 30-03-07

Barclaycard - Settled cheque received

Egg 2 accounts ID sent 29/07

Co-op Claim issued 30-03-07

GE Capital (Store Cards) ICO says theyve been naughty

MBNA - Settled in Full

GE Capital (1st National) Settled

Lombard Bank - SAR sent 16.02.07

MBNA are not your friends, they will settle but you need to make sure its on your terms -read here

Glenn Vs MBNA

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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.

If you found this post useful please click on the scales above.

 

Egg - £400 - Prelim sent. On hold.

Mint - On the list Est £800

GE Capital - On the list (3 accounts!) Est £4000

 

MBNA - £545 Prelim sent 13/11/2006

LBA sent 1/12/2006

£350 partial payment received 18/12/2006.

Full settlement received 20/1/07

 

NatWest - Est £4000 not incl interest

Data Protection Act Sent 10/1/07

Statements received 24/1/07

Prelim sent 3/2/07

Full Settlement received 22/2/07

 

The contents of this post are the sole opinions of The Cornflake and not necessarily the opinions of any other members of this group. They do not constitute sound legal or financial advice and if in doubt you are advised to seek advice from a qualified professional

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  • 3 weeks later...

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!

Paulo Saolo

'If you like it try it, If you don't like it; try it you might like it.'

'Inside every sack of $h!te, there's a spark of gold. Now, it might just be the wrapper off a Caramac, but it's there'

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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.

_________________________________________

Alliance & Leicester MBNA Credit Card

Data Protection Act letter sent 3 July 2006.

Incomplete list of charges received 12 August 2006

Requested repayment of charges 10 November 2006

LBA sent 24 November 2006

Estimated £4650 in fines and interest.

Barclaycard

Data Protection Act letter sent 3 July 2006.

Incomplete statements sent 9 July 2006

Requested repayment of charges 14 August 2006

LBA sent 30 August 2006

Estimated £468 in fines and interest.

Initiated claim at MCOL 20 September 2006

Claiming £615.47 including fines & interest, s69 interest and costs

Claim acknowledged 10 October 2006

Defence filed 20 October 2006

Settled in full £640 total. 14 December 2006

Vodafone

Requested Default Notice removed 10 July 2006

Received letter agreeing to request 10 August 2006

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