Jump to content

MBNA Charges over 6 years & Compound Int RECLAIM

Recommended Posts

Hi all



Been reading up on Shelleys and Martin2006 threads ( which are very good indeed ) and looking in doing the following credit card charges reclaim.


MBNA card - Defaulted around 2007 - cannot check accurate date as dropped of CRA and NO DN in SAR.



—————————Credit Card Charges reclaim——————————————



Total Charges = £521



Total Compound Interest @ 24.90% = £10.699.22



Total Claim = £11220.22 ( which is WHOPPING ! )



Outstanding Balance with DCA £4500



—————— DCA—————————


MBNA card taken out 2003.



They then SOLD the debt of £4500 to DCA in 2011




As this is over £10,000 - my understanding it is eligible for fast track, but with me having to pay both sides if I lost ? I just cannot afford that.


Any thoughts / ideas on the best way to play this ?


Thanks as always.

Edited by yodabug

Share this post

Link to post
Share on other sites

Take a read of the following may be of interest





We could do with some help from you.



    Donate button something to the Consumer Action Group   


If you want advice on your thread please PM me a link to your thread

Share this post

Link to post
Share on other sites

Hi All


Thanks for the help so far.


here is my prelim and SOC.




MBNA Limited

P.O. Box 1004

Chester Business Park

Wrexham Road




21st February 2019



Dear Sir/Madam,


MBNA Credit Card : xxxxxxxxx


I now understand that the regime of fees which you have been applying to my account in relation to late fees and over limit charges, are unlawful at Common Law, Statute and recent Consumer regulations.


I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.


I calculate that you have taken £523.00 in charges and I also claim restitutionary interest of £8339.98, making a total of £8862.98.


It may be that you feel a claim for charges going back further than six years is invalid because of your company policy or some mis-interpretation of regulations. Either way I would draw your attention to s32 (1)© Limitations Act 1980 under which this claim is being made so far as it concerns time limits


I enclose a Schedule of Charges listing the amounts that I require to be repaid.


I require repayment in full of this money. If you do not comply fully within 14 days, I shall begin a claim against you for the full amount plus interest, plus my costs, without further notice.


Yours faithfully,




I have omitted the sentences, ' I require that you remove the adverse payment history entry from the register ' etc. As this has long gone from credit file etc.


Is it worth inserting the red chapter highlighted in red / or save it for later down the line ?? - got that from an old shelley / ims21 thread.

MBNACreditCardCISheet2 v101 (1).xls.pdf

Share this post

Link to post
Share on other sites

i not sure that m about 4 weeks ahead of you with exactly the same letter and i suspect you will get the same bog off reply....


ive been a bit busy but will need to begin y MCOL action...

I need to check how you calculate charges .. i assume you are using restitutional interes rate but thought it was more 29.9%

Share this post

Link to post
Share on other sites

Hi Zubo thanks for replying - must of missed your email.  I’m coming back to this one and I’m starting with an egg card as it’s barclaycard - who I understand are a bit forthcoming but yes will do them both through mcol - good luck with your claim will follow your progression 

Share this post

Link to post
Share on other sites
Please fill in your quit date here

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 Caggers

    No registered users viewing this page.

  • Have we helped you ...?

  • Tweets

  • Our picks

    • This is a bit of a lengthy one but I’ll summerise best as possible.
      I was contacted by future comms by phone, they stated that they could beat any phone contract I have , (I am a limited company but just myself that needs a business phone and I am the only worker) 
      I told future comms my deal, £110 per month with a phone and a virtual landline, they confirmed that they could beat that, £90 per month with a phone , virtual landline  they also confirmed they would pay Vodafone (previous provider) the termination fee. As I am in business, naturally I was open to making a deal. So we proceeded. 
      Future comms then revealed that the contract would be with PLAN.COM and the airtime would be provided by 02, I instantly told them that this would break the deal as I have poor 02 signal in the house where I live as my partner is on 02 and constantly complaining about bad signal
      the salesman assured me he would send a signal booster box out with the phone so I would have perfect signal.
      so far so good.....
      i then explained this is the only mobile phone I use for business and pleasure, so therefore I didn’t want any disconnection time in the slightest between the switchover from Vodafone to 02
      the salesman then confirmed that the existing phone would only be disconnected once the new phone was switched on.
      so far so good....
      • 14 replies
    • I was talked into signing up with Future Comms (future-comms.co.uk) who cold-called me to change my mobile contract to them, via 02, rather than EE. I have a small business (only me!) and it's a business contract. True, the 4G network is better for my area. This company seemed to be a marketing set-up for various telecoms companies, so I assumed anything I signed would be with 02 and didn't think it might be a problem.
      They sent an email whilst I was on the phone to set up the direct debit mandate with my bank which I signed electronically. That was the first, of many, problems I found. Apparently THAT was my contract, binding me to 3 years and no 'cooling off' period, because I was a 'business' (meaning any consumer rights did not apply). When I subsequently asked in writing for a copy of my contract, that is what they sent - when I argued it was a DD mandate they insisted it was my contract!
      2 days later they asked for my phone details to get it unlocked which I sent. 10 days later, EE closed my account, so I changed the SIM card to 02 that had come a few days before. No network! They had done nothing about unlocking it. Fortunately I was lucky with EE who managed to give me the right codes, rather than the usual 10 days to go through Samsung.
      By this time I was suspicious of their set-up and wanted to cancel. As I said earlier, I found myself trapped into a 3 year contract with no 14 day cooling off period (they don't offer that). Promises to deal with my complaints never happened, promised return calls neither....and on and on.
      Ofcom's rules apply to consumers and small businesses (under 10 employees), yet this shower don't acknowledge that. They just repeat and repeat that I am a business so it doesn't apply. To cancel the contract I have to pay the full 3 year's fees!!
      I would like to know if others have had similar experiences? Or does anyone know how I can maybe declare the 'contract' unenforceable? I have never before been locked into something without a clear written contract, with t&c's! And, yes, I have asked, and yes, I have been ignored.
      • 84 replies
    • Future comms!. Read more at https://www.consumeractiongroup.co.uk/topic/415706-future-comms/
      • 10 replies
    • A shocking story of domestic and economic abuse compounded by @BarclaysUKHelp ‏ bank complicity – coming soon @A_Gentle_Woman. Read more at https://www.consumeractiongroup.co.uk/topic/415737-a-shocking-story-of-domestic-and-economic-abuse-compounded-by-barclaysukhelp-%E2%80%8F-bank-complicity-%E2%80%93-coming-soon-a_gentle_woman/
      • 0 replies
  • Create New...