Wednesday1867 vs MBNA***WON***

[wednesday1867]

I might be a bit thickie here, but whats the situation with the interest, which should i be claiming for, compounded or contractual?

 

I take it contractual is the same amount they have charged me and appears on the statements?

 

Dont really know what compounded interest is.

 

On the statements, is the interest split between cash advance and purchase or is it all rolled into one?

 

Thanks.

[empowered]

I might be a bit thickie here, but whats the situation with the interest, which should i be claiming for, compounded or contractual?

 

I take it contractual is the same amount they have charged me and appears on the statements?

 

Dont really know what compounded interest is.

 

On the statements, is the interest split between cash advance and purchase or is it all rolled into one?

 

Thanks.

 

If you look at the bottom of your statements you will find the amount of interest they are charging you - around 1.85 per month, works out to around 24% APR. You can use this calculation on the charges they have imposed on you - a tit for tat as they have had use of your money and charged you that amount over the years. It is contractual interest and is easier to claim back from the CC companies rather than banks. Hope this helps! IF it gets to court, you can also add the s69 statutory interest of 8% as well - MBNA have now repaid all my charges but I was originally also asking for contractual interest which they have ignored. So it might be court after all!

[standingupformyself]

I'm doing 24.9%, seems most people are xx

[wednesday1867]

If you look at the bottom of your statements you will find the amount of interest they are charging you - around 1.85 per month, works out to around 24% APR.

 

 

Thats the thing tho, at the moment, they are only charging me either 3% interest or around 10% due to my DMP. When i sent the sar, i only received a list of transactions, no interest rate in the process of trying to get the statements :-|

 

If i dont hear anything by end of this week, ill send pre lim qith 24.9% interest included next weekend. Bit busy with HSBC

 

Standing, just been reading thro the PPI section, how are you getting on with your PPI claim?

 

Again, cos i havent got the statements, i cant work out how much ive paid in PPI, but has MBNA are still to produce my agreement, they wont be able to proove i agreed to it, plus as i was over my limit for so many months, they have charged me for a policy that is void as i was over my limit So ill be sending a letter of my intent to them this week as well

[wednesday1867]

Im still to receive copies of my statements from my SAR, im gonna send them another letter, giving them til next friday to send me the copies, if not ill do MCOL on Saturday for non compliance.

 

Does anyone know the procedure and costs involved in doing this?

 

Thanks

[standingupformyself]

Sorry Wednesday, wish I could help...

[wednesday1867]

No worries standing.

 

HOw ya getting on with ya ppi claim?

 

Im thinking about trying to reclaim ppi and ppi on months when ive been over my limit. Was told by MBNA if im over my limit, ppi is void, so why did i pay it?

 

Made a mistake i think of my Egg claim for virtually all the time i had the Egg card my interest was 13% just noticed when i paid the Egg card off it was 34% i offered them a quick deal, £50 less of the total at 13% darent calculate with 34%

[standingupformyself]

OMG 34% they certainly know how to take advantage don't they... I thought Egg was supposed to be a decent company? Obviously not.

 

The PPI claim is very very quiet, have sent a prelim and a LBA, they have acknowledged the letters but have given no response. It is now time to take it further, so will have to gets some good advice first, this one is definately over myhead. Some have said go to court, some have said TS, or FOS or OFT?

I am ready now to take all my claims to the next stage, but am going away for a week next weekend, so cannot really afford to loose the money for a couple weeks.. having said that, I could still look into the OFT route...

 

I have got a thread in PPI somewhere, I think I should go there and beg for some help...... Have you noticed there is a noticeable lack of experts around recently, compared to a month or so ago?

 

x

[wednesday1867]

About the interest, for the first 4 yrs it was 13%, then 28% for a bit and 34% for 2 months before i cleared the balance, dont know what to add to my charges and ppi

About the experts, theres a few in other forums, HSBC for instance, odd few still pop in here, im enjoying this tho, having a go trying this, trying that, its just when it gets to the legal stage i get ermmmm, put off slightly. Like a nice easy life, straight forward

Like now with MBNA, all i wanna know is interest rate and how much ive been paying for the PPI, sent letters, sent emails, no replies, no really wanna do the court thing, just add further time on, but looks like ill have to do it.....

I can do the charges with the 24.9% interest, but i really wanna reclaim my ppi too, i cant till i know how much ive paid them.

Least youve got a holiday coming up to look forward to, just a day working in Gloucester for me to look forward, or not as the case may be

Im sure Gloucester is a lovely place by the way,just dont fancy going all the way there so no offence intended

[wednesday1867]

Just noticed as well

 

 

21 May 07 Payment Protection Refund.

 

Now i havent seen this before and i today sent a letter complaining that im still getting charged even tho i cancelled it, looks like i may of been beaten to the punch.

 

 

Got in from work, a letter from MBNA was laid upon my doormat, thinking aye aye, bit thin to be statements maybe its a letter saying weve took your complaint on board and you will receive your statements soon..................

 

It was neither, it was dated 13 June, so it was posted days after it had been written

 

Regarding my PPI i cancelled in March last year, never stopped, got a refund in January, after a phone call, but kept charging it

 

Just says ill get the rest ive paid plus interest back in my next statement and " this is not indicitive of the level of service we ain to provide" seems it is from the way my S.A.R - (Subject Access Request) is going :-|

 

Also as a gesture of regret, they are crediting £25, wait till i get my S.A.R - (Subject Access Request) and question the rest of it, ill be claiming it all, see what kind of gesture youve got for me then

[pennypenny]

Hi Wednesday, MBNA are really terrible at complying with S.A.R.s

My statements took about 71 days:o . When it was just over the 40 days they sent me a list of transactions which just went from 2003 to 2007 and said they werent treating it as a full S.A.R. So I sent a letter of non compliance along with I.D. giving them 7 days to comply, but I was so engrossed in other claims I left it hoping they would send them and eventually they did. I think even if you ring them they say one thing and then do another, so I think the only way is threatening them with court. Sorry I cant help with that cos I never got that far but I'm sure there must be someone who will come along and help you.

Good luck and I hope they will send your statements soon.

Penny.

[wednesday1867]

Threatened them twice with court now

 

Given them til end of next week, no statements,no contact. MCOL will be filed next Saturday and a complaint going to the Information Comm

 

Im so tempted to send my pre lim tho and just going with the standard 24.9% interest. Need the statements for the PPI tho

[wednesday1867]

Apparently i can't take them to court about non compliance and also at the same time, complain to the Information Comm.

So i've decided to get the pre lim in the post Monday, using the standard 24.9% interest, MBNA i'm fed up of waitng Does the pre lim still go to Customer Advocates Office address?

I've given them enough warnings about the sar so i'm gonna get my complaint into the Informtion Comm this weekend, then to court if it can't be sorted

[standingupformyself]

Wednesday???? Where are you???? I have won!!!!!!!!!!! Check out my thread !!!!!!!

[wednesday1867]

I'm still at work . another day with no mail

 

I don't work with a pc so I'm posting from my phone don't get chance to see as muh as I'd like.

 

Congratulations on ya win hope you'll stick around and tell me where I'm going wrong teehee.

 

Won just in time to fully relax on ya hollibops

 

Again congrats x

[wednesday1867]

Well just had a long day at work today

Came home to a letter from MBNA First line "I refer to you letter dated xx/xx and your EMAIL dated xx/xx/xx regarding default charges" wow they do read emails

Second line "Please find enclosed your £10 postal order which was not returned with our response dated xx/xx/xx" well its not been returned again

Then it went on to blah blah about the PPI ive been asking about, pulled the last few sheets off and saw they have sent me the same transaction list again, but this time with the extra column with values in, obviously someone deleted that column off

Then i carried on reading the letter..............................

[wednesday1867]

Need the smilies for this post........

Next paragraph read like this.......

You have incurred a total of £1,610 in default fees. As we would like to resolve this matter, i have reviewed the fees and associated interest at a rate of 24.9% and arranged a further goodwill payment of £2,245.50 to be credited to your account. This in addition to the previous goodwill gesture of £780 on the basis that this is in full and final settlement of your complaint. i think it deserves another

And deffinately deserves a

Well never expected this in a million years, expected the £10 wouldnt be there but then an offer, i only sent my pre lim on Monday, bet they havent even read it yet, hope they dont, they are saying they are giving me back £3025.50, pre lim only asked for £2980 and i had calculated my charges to be £1700, not £1610 they said in the letter. Im not gonna quibble over the £90 as ive been or will be refunded more than i had thought.

Im over the moon right now, shame i cant have it in a cheque, but ney mind, my balance was near £4,000 when i started this, with what ive learnt and understand, it currently stands closer to £500 and when i reclaim the PPI, it should be zero and with me holding a cheque for a couple of grand signed by MBNA. When and if im succesfull ill then make my donation, until then my help and advice will have to do

Thanks CAG, Thanks MBNA Thanks everyone for taking an interest.

[wednesday1867]

Standing, just out of interest, what date was your winning letter?

Mine is dated 19 June

[standingupformyself]

Hiya Wednesday..... IT's been a good week for us both...... I have not had my winning letter yet, mine was arranged over the phone yesterday. Lucky I was in really, cos I am not usually that time on a Tuesday.....

 

C O N G R A T U L A T I O N S X X X

[wednesday1867]

Thanks Standing, i cant believe it, i thought they would fight tooth and nail. Im currently waiting on a court date with HSBC, its been with my local court for a month and still no sign of a date, so this is my first win and it feels great

Only bad thing is, since ive had the money for my season ticket, Sheffield and Hillsboro have been under water as youve probably seen on tv. As if thats not bad enough, the prices go up another £40 next week and they are shut till gawd knows when cos of the flood.

[standingupformyself]

No I can't believe it either, I had been led to beleive that MBNA are one of the worse to get money off..... I still reckon it is to do with the lack of CCA, they just know that they are in a no-win situation.

 

As for the season ticket.... well I feel for you, (slightly) I am not a football fan but I live in a house full of them! Funny really, dont live too far away from Fratton Park, yet three of my family are ardent Liverpool supporters, the other one is a Pompey fan!

[wednesday1867]

No I can't believe it either, I had been led to beleive that MBNA are one of the worse to get money off..... I still reckon it is to do with the lack of CCA, they just know that they are in a no-win situation.

 

 

Ive just typed up a long winded reply and then lost it

 

Its mainly to do with my new quest for the PPI here http://www.consumeractiongroup.co.uk/forum/ppi/95968-wednesday1867-mbna-ppi-no.html ill re do it on that thread

 

On the footy, good on the one who stayed with his local team

[ukiainib]

CoNgRaTuLaTiOn

 

Nice one Wednesday1867...also IT IS YOUR MONEY ask for it in a cheque, and stipulate this is the only from of payment you'll accept as your settlement.

[wednesday1867]

Thats my next question, do i need to send an acceptance letter, or will they just refund it automatically.

Id like the cash, but ill let it go to pay them, plus the PPI claim, if i win, will leave them oweing me £2,000

[dizzy delilah]

Well done Wednesday - Congratulations!!

I think you should send them a letter of acceptance personally .....you don't want to give them any reason not to pay as soon as possible now, do you?