MBNA PPI Succes but not sure on figures

[allison6564]

I have sent in a claim to MBNA for a credit card agreement that clearly had no signature in the PPI box but it as added and so they have upheld my claim.

Its only a small one in comparison to some others that are still ongoing but I'm not sure about the figures they have sent ie.

Total Premiums £122.18

Associated Interest £11.70

8% Gross Intrest £138.03

Less Tax £-27.61

Total Payable £244.30

 

Now I attach my spreadsheet that I sued but this has no 8% interest on it and was wondering if you guys could just check it for me please?

Thanks

[ims21]

This is the spreadsheet to use for PPI on a card. You will need the statements of account to complete it....

 

FosRunningPPI v102.xls

[allison6564]

Thanks ims I'm filling it in now but was wondering if the 8% interest should be applied since the card ended in 2003 as in theory they ahve had my money all these years? Looking at the spreadsheet its not calculating that.

[ims21]

You only get 8% interest if the reconstructed account goes into credit for any month. If it does then you will get 8% simple on that credit balance for that month.

 

If the account was paid off and closed there will be a difference between the actual balance paid off and the reconstructed balance. You would get 8% simple on that difference running from the date the account was paid off to the date of settlement of the claim.

 

Complete the spreadsheet...it will calculate 8% interest where appropriate.

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/showthread.php?372400-MBNA-PPI-Award-“Interpretative”-Calculations

[allison6564]

Had a quick go at the spreadsheet and think it looks correct...have to go to bossy appointment but will check properly tomorrow the guys