Ron vs MBNA

[Ronaldo2k]

Hi All,

 

Well, sent SAR to MBNA and and got a letter back today with all my info.

Just states that they think their charges are fair (Surprise Surprise) and I wont be able to claim anything back. (We will see about that).

 

Will add charges up today and send back the Claims form. However, do I immediatly charge for the 8% interest of wait till it goes to court like with a bank account?

 

many thanks,

 

Ron

 

[rob14973]

Hi Ron

 

You do not add the 8% until u do mcol.

 

Rob

[Ronaldo2k]

Hi there,

 

I have received a second letter from MBNA offering to take £520 off of my current bill. The total sum owed is £1159, excluding interest.

 

Now, although this is a very nice offer, I want nee expect the full amount which would lower my debt significantly.

 

Can anyone advise where I can locate the template to accept the offer but make them aware that I will claiming for the full amount.??

 

Regards,

 

Ron

[rob14973]

Hi Ron

 

Have u sent of your prelim letter? If u have not then u just need to adjust your prelim letter to something like this.

 

Further to your letter dated xxxxx i accept your offer of a refund of charges totalling xxxxx on the understanding as a partial settlement towards my claim. I intend to continue for the remainder of the charges added to my account between xxxxx and xxxxxx

 

Then use template prelim letter.

 

You can use the paragraph on top of your LBA if you have got that far.

 

Rob

[Ronaldo2k]

Hi Rob,

What I sent was just a request for Statements.

After totalling up its looks as thought its over a £1000.

Should I just respond with Thanks but no thanks with a list of charges?

Out of curiosity, do I claim for Interest as well? As this is a credit Card and not a Bank account.

Regards,

 

Ron

[Ronaldo2k]

Would someone mind reading through mt response below?

Looks OK to me but always good to get a second opinion.

 

"Thank you for your letter dated xx/xx/xxxx.

I respectfully decline your generous offer of settlement and request, once again, that you return to me all charges imposed on this account, totalling £xxxxxx. This is excluding interest. I have enclosed a list of charges for your perusal.

 

I will accept the sum offered only as part settlement and on the clear understanding that I will pursue recovery of the remainder, with a County Court claim if necessary.

 

My letter sent previously indicates that you have until x/xx/xx to respond before Court action commences. However, I am willing to extend this by one week out of curtsey.

 

I trust this clarifies my position."

 

I sent this as my Preliminary approach for repayment.

 

Regards,

Ron

 

[rob14973]

Ron

 

As stated in my earlier post you need to send a prelim letter from the bank template library.

 

At the top of the prelim letter write a similar paragraph to the one i wrote in red.

 

You should accept their offer as a partial payment but make it clear u will continue to pursue for the rest.

 

Also attach a list of charges to the prelim letter.

 

Interest

If you are going to claim the statatory 8% then this should be added when you submit your claim to MCOL.

 

If you decide to add contractual interest, this can be added at the prelim stage.

 

Rob

[Ronaldo2k]

Many thanks Rob,

 

Have done as advised.

Have not added interest. Will see what they come back with first

 

Many thanks again,

Ron

[rob14973]

OK Good luck

[Ronaldo2k]

Well had a call today and they said I can pretty much expect a letter in the lost confirming a full refund (which is nice but we shall wait and see).

 

Once I recieve this letter, am I then eligiable to add the interest to the sum as the issue is not going to court?

 

Many Thanks,

 

Ron

[rob14973]

Ron

 

Ask yourself why they are looking to settle early. Could be possible they owe your more than what u think. eg interest. I'm making a similiar claim to u also and i have claimed interest which has doubled my claim.

 

Rob

[Ronaldo2k]

Good Point Rob.

 

My calculationas accumalted in about £1159.00 in fees. Now I asked them what they had worked it out to and they give me the exact same figure. However, I had not added the interest.

 

When I get the letter I will contact by phone with the Added interest Calculations.

 

Many Thanks Rob,

 

Ron

[rob14973]

Ok good stuff. Use one of vampiress spreadsheets to work out your interest all you need to do is find the APR of the card.

 

Rob

[Ronaldo2k]

Afternoon all.

 

Well just to update.

I contacted MBNA by post and confirmed that I only accepted there offer as part settlement. I will be claiming for the rest. That was 12 days ago. I specifically stated on the letter that they had 14 days to respond.

 

Heard nothing today so I called them up. Its seems that they have decided to set their own timescale and get back to me before the 24th. 1 week and four days after the time limit.

 

Really annoyed about this and feel like MBNA are not taking me seriously. Really want to send the LBA but not sure if I should wait for their letter and see what it says first. Can anyone advise?

 

For the record, the £520 was taken off my Credit Card balance which is still a Winner

 

Regards,

 

Ron

[phatram]

From what I've read you set the timescale not MBNA and I've seen a few posts say its really important to stick to it.

Good luck

[Ronaldo2k]

Many thanks for the advice. Will get the LBA off on Wednesday if no Letter by 2mrw.

[Ronaldo2k]

Hi,

 

Would really appreciate some help here if someone could offer it.

I was just looking through my claim and I am about to add the Interest. The APR rate is 15.9%.

 

I am trying to amend the spreadsheet to calculate at 15.9% but cant seem to get it to work out. Can anyone offer some advice?

 

Many thanks,

 

Ron

[unitboy]

Ron

 

The formula in the 8% interest column is set at 0.00022. Change this to 0.000436 to calculate interest at 15.9% APR.

 

Regards

 

Unitboy

[Ronaldo2k]

Sorted.

 

many thanks U Boy.

[Ronaldo2k]

WINNERRRR!!

 

Hi Guys,

 

Just to confirm that I had a letter from MBNA today.

My Balance on my Virgin Credit Card was £2500 about two months ago.

 

I have had the card since about 2002 and was made redundant. I then had to take a job with a much lower salary. I had incurred some charges etc and was over the limit on my account by £500.

 

MBNA origionally offered me a £590 settelement which I accepted in part. I responded and informed them that I would continue to press for the full amount. They then offered me £690 on top of the £590. Again I accepted in part but made them aware that I would be claiming the outstanding £500.

 

I had a lovely letter in the post today which stated that MBNA were willing to refund the full amount to my credit card which in the space of two months has dropped from £2500 to £720.

 

This is a winning figure of £1780. I know I didnt get the cash but it still feels like a massive relief and a major weight off of my shoulders. I know £720 is still a good few quid but my aim to be debt free by Xmas 2007 is really back on course now.

 

I am waiting to hear from the court re: NatWest, and I will be submitting Court proceedings Vs Woolwhich, Natwest Visa, Cap 1, Halifax Visa, Welcome and Citi Fi in the not too distant future when all statements are made avaliable to me.

 

Guys, Thank you so very very much for all of your help. You have been great. If I can do it, then there is lots of hope for everyone

 

Cheers,

 

Really Chuffed Ron

[iwannabedebtfree]

well done, and good luck for your pending court cases, hope this has given you something to cheer about over xmas