PPI Reclaiming Discussion part 4

kelly993

LynK wrote: »

Interesting reading the posts about MBNA, my OH and I both claimed and were successfull against MBNA re ppi and I have to say after emailing the CEO the complaints were handled very efficiently and quickly.
However, a few months ago my OH employers were having some problems and all overtime etc was stopped. Immediately this happened I sent MBNA a letter to see if he could be put on a payment plan for even 6 months with reduced interest rates etc. After several letters, phone calls etc, he was eventually put on to a payment plan for the lifetime of the balance just last month. The balance at the end of Feb was about £4,200 but even though I never missed a payment, admittedly some were not the minimum payment but each month I paid at least £60 off the balance, the outstanding amount grew to well over 5k which put him over his credit limit. So as well as paying interest most months there was £24 in charges. The thing that has worried me about this situation the most, to the point where some nights I can't sleep with worry is that apparently this will have a negative effect on his credit rating. As some of my mortgage is still endowment linked and due to be paid out in just over 2 years, I am greatly worried as to whether or not we will get a loan to cover the shortfall.
I kept MBNA in the loop completely, but they were EXTREMELY unhelpful, and unsympathetic. It's now gonna take over 5 years to pay off the amount but at least then it will be paid. The card will never ever be used again.

This is such a horrible situation to be in especially with this outfit. From what I have heard its only since being seriously told off by the FOS about the way they deal with people in financial difficulty that they have started to offer payment plans:mad:
I think you can claim for the charges back as you are in financial hardship you may want to look at the reclaim bank charges section on this forum for more help with this. It would be worth you having a look at your credit report as well to see what effect it has had on your credit history. When I was with the consolidation agency they gave me advice about writing to the creditors explaining my situation and asking them to remove defaults from my report. This was successful with a couple of them so it may be worth a try if you find out how much of an impact it has had. I hope ithings improve for you soon.

cappo

LynK wrote: »

Interesting reading the posts about MBNA, my OH and I both claimed and were successfull against MBNA re ppi and I have to say after emailing the CEO the complaints were handled very efficiently and quickly.
However, a few months ago my OH employers were having some problems and all overtime etc was stopped. Immediately this happened I sent MBNA a letter to see if he could be put on a payment plan for even 6 months with reduced interest rates etc. After several letters, phone calls etc, he was eventually put on to a payment plan for the lifetime of the balance just last month. The balance at the end of Feb was about £4,200 but even though I never missed a payment, admittedly some were not the minimum payment but each month I paid at least £60 off the balance, the outstanding amount grew to well over 5k which put him over his credit limit. So as well as paying interest most months there was £24 in charges. The thing that has worried me about this situation the most, to the point where some nights I can't sleep with worry is that apparently this will have a negative effect on his credit rating. As some of my mortgage is still endowment linked and due to be paid out in just over 2 years, I am greatly worried as to whether or not we will get a loan to cover the shortfall.
I kept MBNA in the loop completely, but they were EXTREMELY unhelpful, and unsympathetic. It's now gonna take over 5 years to pay off the amount but at least then it will be paid. The card will never ever be used again.

Good post kelly, i'm sorry to hear about the situation your in lyn, i had similiar with them a few years ago, i was lucky enough after my stroke to be in a position with my critical illness insurance to make a full and final settlement to all my creditors and pay them all off, it left me skint but out of debt,i know your in a pretty dark place at the moment but it will get better, as kelly says the charges would be a good place to start they can't have what you haven't got my woman.

virtualgirl

sorry to sound silly, but how long do we give the banks to give us a reply on their decision, as its been 3 months and still nothing. All i got was 2 letters saying that they have acknowledged my complaint and looking into it, then another letter saying they are still looking into it, and haven't heard nothign for ages now.
should i write to them again or go straight to the ombudsman?
any replies will be much appreciated

cappo

virtualgirl wrote: »

sorry to sound silly, but how long do we give the banks to give us a reply on their decision, as its been 3 months and still nothing. All i got was 2 letters saying that they have acknowledged my complaint and looking into it, then another letter saying they are still looking into it, and haven't heard nothign for ages now.
should i write to them again or go straight to the ombudsman?
any replies will be much appreciated

No don't go to the ombudsman virtualgirl sounds like you've got an uphold there, don't do anything you will come to regret, give it time it will get sorted out, no news is good news,the longer it takes the more interest you get. good luck:)

ebayg1rl

virtualgirl wrote: »

sorry to sound silly, but how long do we give the banks to give us a reply on their decision, as its been 3 months and still nothing. All i got was 2 letters saying that they have acknowledged my complaint and looking into it, then another letter saying they are still looking into it, and haven't heard nothign for ages now.
should i write to them again or go straight to the ombudsman?
any replies will be much appreciated

Hi Virtualgirl, most of the banks were granted 16 weeks from receipt of complaint to reach a decision so it sounds like you will find out in the next month or so. I wouldn't go to the FOS until you have had your decision from the bank as the backlog is horrendous - anything upto 2 years!!!
Hope this helps but the letters they have sent so far are pretty much standard procedure.

beamerguy

cappo wrote: »

Hi kelly mbna sold lots of cards this way including one to me at the go fishing show in birmingham at the nec my spin on it was well was the sales assistant qualified to "sell" the card and ppi, needless to say i won misold.

Hey Cappo, you a fisherman ? I go fly fishing for trout

Where did you hear that MNBA with getting out of the UK ?

beamerguy

cappo wrote: »

Hi kelly mbna sold lots of cards this way including one to me at the go fishing show in birmingham at the nec my spin on it was well was the sales assistant qualified to "sell" the card and ppi, needless to say i won misold.

Cappo is right, was the assistant qualified to sell this to you, ask for the licence from the FSA that enabled her to sell you a financial services product

cappo

beamerguy wrote: »

Hey Cappo, you a fisherman ? I go fly fishing for trout

Where did you hear that MNBA with getting out of the UK ?

it was recently beamer i think i did a google search i'll see if i can find the info again and post it up here.:)

cappo

here you go beamer



http://www.business-sale.com/news/article/mbna-on-the-market-as-its-owner-decides-to-exit-the-uk-35190.html

cappo

cappo wrote: »

it was recently beamer i think i did a google search i'll see if i can find the info again and post it up here.:)

i coarse fish mate a bit tricky with the stroke but i manage with a bit of help,i love the peace of the countryside.steve:beer::)