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MBNA PPI Award “Interpretative” Calculations?


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angry cat - at work so cannot comment fully but just a note to say that I have just checked my statements and the successful illness claim was actually paid into the account direct as a DDR - the amount totally agrees ...........how does that affect your opinion ?

GS

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Yes, we are all still waiting for theses FOS ombudsmen/women to come to their decisions. But will these long labored over opinions just simply be based on those of the individual FOS adjudicators; FOS adjudicators who did not/do not comprehend?!

 

 

Latest response from my adjudicator:

 

MBNA only sent limited information about the fee they wanted to refund. However I have their breakdown of the offer and so I independently checked whether I felt what they were saying was correct. I included a section in my view, please see attached, addressing this. I said that I thought another two fees should be repaid. However as a claim hadn’t been deducted from the offer, and this outweighed the fee amounts, I said that nothing further should be paid.

 

The ombudsman will have all this information and they will include this all in their decision.

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angry cat - at work so cannot comment fully but just a note to say that I have just checked my statements and the successful illness claim was actually paid into the account direct as a DDR - the amount totally agrees ...........how does that affect your opinion ?

GS

 

I had exactly the same with MBNA. My valid PPI claim was successful, after a big struggle and;

my claim was also paid directly into my CC account monthy (often late though, resulting in 22 late and over limit penalty charges: 22!)

However, MBNA continued to debit the PPI, piled on the ever accruing interest and then they changed my PPI insurer without telling me.

This matter has never been fully resolved, as the calculations are so complicated.

My claim still remains, but now it is against Lloyds: St Andrews...

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Good morning - am absolutely steaming ! but firstly

 

However, if any of these fees were late payment fees,
only reclaimed the over limit fees

 

It seems very odd that the payout from a successful claim for illness under the PPI policy has not been deducted from the final offer amount - which is indeed the usual procedure It was deducted from the final payout amount initially; this is what happened in my husband's claim too

 

Had the PPI policy payout from the successful illness claim been credited directly to the MBNA account at the time that it was made, then the balance would have been reduced, and the monthly account interest would also have been reduced.It was paid direct to MBNA at the time and PPI & interest continued to be charged

 

and now to why I am steaming ...........

 

Please see attached - copy of initial complaint & calculations; copies of final decision; copy of calculations; copy of letter sent in reply to FOS email reply from adjudicator; my reply to him (by letter). This will probably identify me to the FOS but by now I don't really care as I am very unhappy about the reply received. I feel that I am getting fobbed off.......

 

I approached an accountant as I just couldn't make sense of the figures received (I also work as an accountant but am not qualified) but he couldn't make any of the figures add up so he suggested I write again for a more detailed analysis..........well you see the reply I got.

 

I would now appreciate your thoughts on this - feel as if I am just going around in circles

 

 

 

Thanks

GS

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Put them all in one multipage document

Then PDF that!!

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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I had exactly the same with MBNA. My valid PPI claim was successful, after a big struggle and;

my claim was also paid directly into my CC account monthy (often late though, resulting in 22 late and over limit penalty charges: 22!)

However, MBNA continued to debit the PPI, piled on the ever accruing interest and then they changed my PPI insurer without telling me.

This matter has never been fully resolved, as the calculations are so complicated.

My claim still remains, but now it is against Lloyds: St Andrews...

 

 

I made claims with 4 banks but only had any payment from MBNA, even though two of my other claims were also with L&E.

Payment for the MBNA claim was paid into my CC account but in one lump sum, 8 months after my successful claim. In the intervening months I was still paying £70+ PPI premiums and being hammered with penalty charges. I only ever had one payout from the policy.

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I was promised a final decision in one to two weeks, a week ago..my argument in post 971 was my last roll of the dice!

 

 

 

And guess what still no final response.......from the email of my adjudicator yesterday.

 

 

I’m sorry you haven’t received your final decision in the past few weeks as hoped. I’ve been told the final decision should be finished and sent in the next few days though.

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Well I finally got a final decision....

...but I didn't because at the last hurdle the FOS removed me from the matter.

 

 

In my email I got this.......

The final decision and accompanying letter and acceptance/rejection forms were actually sent to the Official Receiver instead of you.

This is because it’s the Official Receiver’s decision to either accept it or reject the decision.

But please see attached a copy of the final decision.

If you’d like me to send a postal copy, please let me know and I’ll send a copy to you.

 

I have attached the decision as it's most amusing and the Ombudsman missed the point completely!!

 

Moral of story

don't bother wasting your time,

 

 

at the end of the day I was never going to get any compensation.

That's not what galls me,

 

 

its the FOS attitude to rollover and accept what ever the banking institute says.

The final email I received from Adjudicator which I have copied and pasted above has now made it a toothless argument as I can't even reject the decision.

 

On the plus side I do now know that Christopher Reeve isn't superman..

..he's Batman's arch enemy,

the five letter one starts with J ends in a R.

Final Decision.pdf

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Well I finally got a final decision....

...but I didn't because at the last hurdle the FOS removed me from the matter.

 

 

In my email I got this.......

The final decision and accompanying letter and acceptance/rejection forms were actually sent to the Official Receiver instead of you.

This is because it’s the Official Receiver’s decision to either accept it or reject the decision.

But please see attached a copy of the final decision.

If you’d like me to send a postal copy, please let me know and I’ll send a copy to you.

 

I have attached the decision as it's most amusing and the Ombudsman missed the point completely!!

 

Moral of story

don't bother wasting your time,

 

 

at the end of the day I was never going to get any compensation.

That's not what galls me,

 

 

its the FOS attitude to rollover and accept what ever the banking institute says.

The final email I received from Adjudicator which I have copied and pasted above has now made it a toothless argument as I can't even reject the decision.

 

On the plus side I do now know that Christopher Reeve isn't superman..

..he's Batman's arch enemy,

the five letter one starts with J ends in a R.

 

 

Miaspa,

FWIW - our summarised thoughts are that:

1. Miaspa has lost out on his claim for 8% Simple Interest on the Recon. Balance after the account was sold, and I agree with the FOS that the 8% interest on this should have gone to the buyer of the account (presumably the OR);

2. The various M&F payments argued about represent a very small portion of the total claim quantum, and IMHO are equivalent to re-arranging the deck-chairs on the Titanic;

3. I don't think the FOS fully understand how and why the Recon. Balance is calculated or how it should be used, and I believe that this is demonstrated by the ombudsman here;

4. The Associated (account) Interest may have been wrongly calculated, but this appears to have been given little attention - although it could well be worth more than the M&F arguments;

5. There appears to have been a large number of fees & charges made ranging from £12 to £25, and these may well have been worth a large amount (with Associated Interest) - but the ombudsman appears to have dismissed these because he has misunderstood how to use the Recon, Balance to determine if these were attributable to the PPI.

 

In short, we believe that Miaspa has concentrated too heavily on items 1 and 2, which IMO are not reclaimable (in the case of item 1) or worth relatively small amounts (in the case of item 2) - when items 3, 4 & 5 should probably have been concentrated on. The FOS managed to avoid dealing with items 3, 4 & 5 either by accident or by design, I reckon. This is probably the final stage in the FOS process, so guess that Miaspa now has to consider taking this to the Small Claims court in order to get it settled - although referring it to the Independent Assessor meanwhile might be worth considering, simply as a part of the 'pre-action protocol.' But I doubt if Miaspa is getting the advice he needs to either understand this, or to action it - as CAG do not seem to have anyone who understands it any better than the FOS do - and even the expert Jonquil Lowe admits that she considers it to be an unfathomable mess. The blind are leading the blind here, I believe - and MBNA are happily looking on as they all plunge over the cliff.

 

Have a Merry Christmas and a Happy New Year

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  • 2 weeks later...
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Received my preliminary decision fro an ombudsman.

Much the same as Miaspa's

 

 

Not what I was hoping for...

 

ERR. what about the Money Laundering Regulations, required by HMRC Re; the keeping of 'Account Records'?

 

And, are the FOS really going to ignore legislation that was laid down, prior to FCA PS10/12 rules?

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Does anyone remember this from 2014?

 

 

http://www.bbc.co.uk/news/business-27679311

 

 

Especially this comment from Barclays:

 

 

Barclays acknowledged that its previous system, which assessed month-by-month whether a PPI premium had triggered a fee, did not fully capture the cumulative effect of fees and charges, as regulators require.

 

 

So what has changed since then?

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  • 3 weeks later...

Just received my final decision. No change from the preliminary decision. I don't think that anything anyone says is going to change their mindset. the last line of the letter adds "if you don't agree with the decision you can still take your complaint to court." This is despite the fact that the last comment in my final email advised that I had already been to court.

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