MBNA. PPI..plevin complaint.***Success***

[conchy_joe]

gI have also recently received a letter from MBNA regarding the same thing.g

 

In this letter they say,.. " You could now receive some money back if we took a high level of commission on your PPI policy but did not tell you this when you bought it.

 

A high level of commission typically means it was over half what you paid for the policy. Generally we do not tell PPI customers about our commission at the point of sale, as we were not required to ".

 

Interestingly the reply address they give begins with........MBNA Plevin Proactive.

Unlike Welcome they include a form to be completed.

[conchy_joe]

Hi everyone.

Sometime ago I asked MBNA to check if I had PPI with them, their reply was no.

 

Recently I received a letter from them inviting me to make a new inquiry/complaint regarding this.

They said that I could now receive some money back if they took a high level of commission on my policy, they went on to say that in general they did not tell PPI customers about their commission at the point of sale as they were not required to.

 

I should add that the reason that they sent me this letter was because I had previously inquired about PPI, I would suppose that had I not made a previous inquiry they would not have contacted me. If you suspect that you may have had PPI with them it would be best to ask CAG if they can help.

[BankFodder]

Sorry, could you just clarify your statement "If you suspect that you may have had PPI with them it would be best to ask CAG if they can help. "

 

Does this mean that somebody has recommended you to contact us?

[dx100uk]

its regard the new plevin ruling.

 

no harm in asking but its not YOUR PPI you reclaim but their secret commission they got IF there was PPI

[AndyOrch]

Thread moved to the appropriate forum...please continue to post here to your thread.

 

Regards

 

Andy

[conchy_joe]

I was talking to dx100uk about a letter from Welcome and mentioned that I had received a similar letter from MBNA, he suggested that I start a new thread.

[conchy_joe]

Sorry I can't find the original thread for this..Mbna wrote to me saying that although I had asked about PPI in the past and they told me that It wasn't mis-sold I could now ask them to look again under the Plevin ruling.

I filled in the enquiry/claim form they had enclosed and returned it.

 

Today I got a letter, part of which reads

"A high level of commission and profit share typically means that it was over 50% of the total PPI premium you paid. Generally we didn't tell customers about this as we weren't required to "

 

.Decision..we're upholding the undisclosed high commission complaint (Plevin ) and to calculate your redress we've.

1. refunded any commission and profit share above 50% of the PPI you've paid.

 

2. refunded the historic interest paid on 1 ( above ).

 

3.added annual simple interest at 8%, where you should not have been charged interest.

 

Amount of applicable commission and profit share...……..£81.59

 

Total amount of fees refunded...……………………………………..£0.00

 

Amount of historic interest...……………………………………………£47.29

 

Applicable 8% gross interest...………………………………………..£39.02

 

Less UK withholding tax...……………………………………………..-£7.80.

 

I don't know what reaction I should have to this, Is this response correct ??.

[AndyOrch]

Threads merged.

 

 

Andy

[dx100uk]

there is very little chance of ever finding out if a plevin reclaim is correct

I doubt they would dare get it wrong.

 

do you know how much PPI you paid have you the statements?

[conchy_joe]

Afraid not, it was such a long time ago.

[conchy_joe]

I'm not displeased with the outcome, they say they will make payment within 28 days, when it's cleared in the bank I'll transfer it to the DMA that's handling the outstanding debt. I feel as if I've accomplished something and tied up one loose end.

[dx100uk]

no don't blindly pay it to a CMC!!

[conchy_joe]

Don't you think that MBNA will contact the company that is currently handling the debt informing them that they've just paid out on a Plevin to one of their debtors. The amount owed is a little over £900, wouldn't that company demand that I put it towards reducing the debt ?.

[dx100uk]

they will cancel the contract

[conchy_joe]

Who will cancel the contract and how would that effect me, will I get a letter from NCO saying " we feel you must use this money to reduce the debt ".

[dx100uk]

Nco?

[conchy_joe]

NCO are the company who are handling the debt for MBNA, these people receive the monthly standing order that reduces the debt .

[dx100uk]

nco are a powerless DCA

a dca are NOT bailiffs

 

you do realise they are probably taking a cut of your payments.

 

if MBNA have written to you with a refund

how are they saying they are going to pay you it back?

[conchy_joe]

They say " payment will be made within 28 days of this letter ", letter dated 5 days ago.

[dx100uk]

I would suspect you wont see it then it will reduce your balance

but i'm sure they have to notify you of where and how it is being paid.

[conchy_joe]

Then I guess the best thing is to do nothing and wait to see what happens, do you think that the people who are working on the Plevin claims will check the account history and realize that the debt exists and has been placed with a DCA.

[AndyOrch]

I doubt NCO have been assigned the account...and MBNA still own it.

[conchy_joe]

You're right MBNA still own the acct, NCO would be the people assigned to recover whatever they can.

[AndyOrch]

Then MBNA will either off set it against any existing debt or pay it directly to you.

[conchy_joe]

OK thanks, I'll just have to see if it pops up in my bank acct, but yes you're right MBNA will let me know if they're going to deduct it from the debt. Either way it's a good result....the debt gets reduced or the PPI refund comes to me. I'll post the result as soon as I know which way it's gone.