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Charges and MBNA
lmclean100
Posts: 192 Forumite
Hi
I wrote to MBNA (Bank of America) to reclaim my charges at the end of October.
Got home tonight to a letter from them in which they state that they do not accept OFT decision about unfair charges. MBNA believe that their charges are fair (I don't think so), but as a gesture of good will they will refund some of the charges.
Now I didn't think they had the option to accept the OFT decision. Surely that's like me saying well, I accept that I owe you so much money but I don't agree to paying interest.
Any advise on how to proceed, oh yes they also want to credit the refund to my credit card account, I don't want them to do that I want the cheque so that I can distribute it equally amongst my other debts.
L
I wrote to MBNA (Bank of America) to reclaim my charges at the end of October.
Got home tonight to a letter from them in which they state that they do not accept OFT decision about unfair charges. MBNA believe that their charges are fair (I don't think so), but as a gesture of good will they will refund some of the charges.
Now I didn't think they had the option to accept the OFT decision. Surely that's like me saying well, I accept that I owe you so much money but I don't agree to paying interest.
Any advise on how to proceed, oh yes they also want to credit the refund to my credit card account, I don't want them to do that I want the cheque so that I can distribute it equally amongst my other debts.
L
Getting there, slowly but I WILL be debt free before I retire :dance:
0
Comments
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You can quite rightly request a cheque or bank transfer to an account of your choosing, if you don't ask they will simply reduce the debt you have with them.
As to what they have said, it is probably a tactic for you to accept a reduced payment, the final decision on charges should be disclosed on Wednesday 25th November by the High court. I would continue to pressure for the full amount plus the allowed 8% compound interest.
They can disagree all they like, but the OFT and FSA is who they have to abide with, so if they continue to complain get in touch with the OFT and explain what they have said to you so far.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
lmclean100 wrote: »Hi
I wrote to MBNA (Bank of America) to reclaim my charges at the end of October.
Got home tonight to a letter from them in which they state that they do not accept OFT decision about unfair charges. MBNA believe that their charges are fair (I don't think so), but as a gesture of good will they will refund some of the charges.
Now I didn't think they had the option to accept the OFT decision. Surely that's like me saying well, I accept that I owe you so much money but I don't agree to paying interest.
Any advise on how to proceed, oh yes they also want to credit the refund to my credit card account, I don't want them to do that I want the cheque so that I can distribute it equally amongst my other debts.
L
PS I should have said that these are credit card charges.Getting there, slowly but I WILL be debt free before I retire :dance:0 -
does anyone know of a template letter I can use?
LGetting there, slowly but I WILL be debt free before I retire :dance:0 -
AM sure someone will correct if i am wrong but case in High Court with decision on Wednesday is for Bank Charges not credit card charges these have been ruled on already and deemed unfair and hence here reduced by most companies to a fairer £12 each.
if MBNA charges were for £12 i dont know if you would be able to claim. AM sure there are threads on here for reclaiming charges good luck.Proud to be dealing with my debts :j:j
Debts at start of DMP £31000 :eek::eek:
Current balance £26454
DFD May 2013:D
Long Haul Supporters Club No 1940 -
Hi
No the charges were £25, otherwise I wouldn't have tried to claim them
LGetting there, slowly but I WILL be debt free before I retire :dance:0 -
Hiya then I would suggest this is your first port of call.
http://forums.moneysavingexpert.com/forumdisplay.html?f=185
Its the reclaiming thread.
Also consider the unenforceability route also might be an optionProud to be dealing with my debts :j:j
Debts at start of DMP £31000 :eek::eek:
Current balance £26454
DFD May 2013:D
Long Haul Supporters Club No 1940 -
AM sure someone will correct if i am wrong but case in High Court with decision on Wednesday is for Bank Charges not credit card charges these have been ruled on already and deemed unfair and hence here reduced by most companies to a fairer £12 each.
if MBNA charges were for £12 i dont know if you would be able to claim. AM sure there are threads on here for reclaiming charges good luck.
Ah, my mistake then. They are indeed bank charges didn't realise credit cards had already been done.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
How much have they offered you LM? Is it the difference between the £25 charge and £12? This is what some are offering as £12 has sort of been deemed fair.
As pwally suggests look at the reclaim board for advice - there is a guide for credit card charges at the top which should help and give you the options of where to go from here.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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