PPI Reclaiming Discussion part 4

paid_too_much

Egg_Chaser_12 wrote: »

I have finally had a responce back from the FOS re a MBNA Credit Card that I have tried to claim direct. The letter states that MBNA don't accept mis selling and so the case will be delt with by a Member of the FOS team personally and that they will contact me if they hear anything or I should contact them if MBNA contact me directly to settle.

Has anyone heard of this before and what was the outcome? Does it sound like a lost cause?


Won Cases:
NATWEST Total £11,900.00
Santander £2,500.00
Providian £1,600.00

Do they mean they don't accept your case of mis selling or mis selling in general, if it's the latter they are fibbing:eek:

cappo

Egg_Chaser_12 wrote: »

I have finally had a responce back from the FOS re a MBNA Credit Card that I have tried to claim direct. The letter states that MBNA don't accept mis selling and so the case will be delt with by a Member of the FOS team personally and that they will contact me if they hear anything or I should contact them if MBNA contact me directly to settle.

Has anyone heard of this before and what was the outcome? Does it sound like a lost cause?


Won Cases:
NATWEST Total £11,900.00
Santander £2,500.00
Providian £1,600.00

Hi claims against MBNA are very rarely ever lost causes, a lot of claims are upheld against this bank.:)

paid_too_much

cappo wrote: »

Hi claims against MBNA are very rarely ever lost causes, a lot of claims are upheld against this bank.:)

Hi Cappo, does this count for charges too, I'm just about to start my battle with them and Capital One:D

cappo

paid_too_much wrote: »

Hi Cappo, does this count for charges too, I'm just about to start my battle with them and Capital One:D

I'm not so sure about charges as after the court case in 2009 they got harder to claim back but there's no reason not too try, give it a go.

paid_too_much

cappo wrote: »

I'm not so sure about charges as after the court case in 2009 they got harder to claim back but there's no reason not too try, give it a go.

thanks. I'm going down the route of 'it was the mis selling of the PPI (or unauthorised adding in my case!) that put me over the credit limit' I'll let you know!

Egg_Chaser_12

paid_too_much wrote: »

Do they mean they don't accept your case of mis selling or mis selling in general, if it's the latter they are fibbing:eek:

The correpondance I have had directly with MBNA states that I knew what it was cause I ticked the box and they sent me a welcome pack. so in General I suppose.
I don't remember ticking any box and I certainly didn't get a welcome pack detailing about the PPI

I suppose fingers crossed and see what the FOS can do.

paid_too_much

Egg_Chaser_12 wrote: »

The correpondance I have had directly with MBNA states that I knew what it was cause I ticked the box and they sent me a welcome pack. so in General I suppose.
I don't remember ticking any box and I certainly didn't get a welcome pack detailing about the PPI

I suppose fingers crossed and see what the FOS can do.

good luck they upheld mine (see sig) but I had the paperwork showing I had rejected the PPI, shame this doesn't also hold any water with Santander.

have you checked the reasons for mis selling to see if they apply to you?

ndiosha

Hi Folks,
I phoned up Abbey 4 weeks ago to register my complaints about 5 Loan products I bought from them (2 x Personale Loans - 1taken to pay off the other; 1 Loan secured on property; Credit Card; Mortgage -which has log been transferred to another Lender) and received a letter this week offering a redress on only one of the Loans. Loan was taken in 1999 yrs for 8 yrs but was paid off in full in 2002.
I don't know whether to accept the offer or not as i don't fully understand if they have been honest in their calculation.
The redress amount consists of :
1) Refund of the PPI paid in the 2 yrs (Mthly premium x number of payments made) + Statutory Interest on the refunded PPI (8% simple per annum) = nearly £2k.

My suspicion stems from what they have said regarding my second Personal Loan which I took to pay off this one.
In their letter, they say
"The amount payable comprises of refund of all PPI premiums paid including statutory interest.[this i agree with, but further it goes...]"
"Where a single premium PPI ploicy was cancelled early, you received only a partial refund of your premiums. This means that the amount of PPI refunded to you was lower than it woul've been had you received a pro-rata refund. As a result the difference between the pro-rata refund and what you actually received was rolled up into your subsequent re-financed loans balances.
The breakdown also calculates the additional amounts you have paid as a result of not receiving a pro-rata refund including statutory interest". [.....this additional amounts as a result of not receiving pro-rata , I did not see in their calaculation]. Which makes me think some elements are missing from the amount of redress.

Is ther someone well versed in the Language of Finace that could explain if I have been cheated?
Is it worth requesting for an SAR so that i can see details of all the other Loans as I do not have any of the paperworks (except for the Mortgage) and therefore do not even know if I had PPi on the secured Loan (i guess the property was the insurance), the credit card or the mortgage.

Are they likely to withdraw the offer if I do not accept within the 30 days they have asked for me to return the acceptance form?

Before i picked up the phone to register my complaint, I read a lot of posts on this site and that gave me all the confidence I needed. Now going to go after Barclays, Lloyds and all the rest of them and hope I succeed in getting what is my due.

Thank you in advance for for all you help.
Ndiosha

amersall

My suspicion stems from what they have said regarding my second Personal Loan which I took to pay off this one.
In their letter, they say
"The amount payable comprises of refund of all PPI premiums paid including statutory interest.[this i agree with, but further it goes...]"
"Where a single premium PPI ploicy was cancelled early, you received only a partial refund of your premiums. This means that the amount of PPI refunded to you was lower than it woul've been had you received a pro-rata refund. As a result the difference between the pro-rata refund and what you actually received was rolled up into your subsequent re-financed loans balances.
The breakdown also calculates the additional amounts you have paid as a result of not receiving a pro-rata refund including statutory interest". [.....this additional amounts as a result of not receiving pro-rata , I did not see in their calaculation]. Which makes me think some elements are missing from the amount of redress.

Hi there,this is correct,when you settled the first loan,they would have given you a small rebate of ppi,they are giving you full redress for ppi that was carried over with the interest associated with these,minus the small rebate you got when you settled the first loan.
Hope this helps.

amersall

Is it worth requesting for an SAR so that i can see details of all the other Loans as I do not have any of the paperworks (except for the Mortgage) and therefore do not even know if I had PPi on the secured Loan (i guess the property was the insurance), the credit card or the mortgage.

Are they likely to withdraw the offer if I do not accept within the 30 days they have asked for me to return the acceptance form?

You can request a SAR for all info on any accounts you may have.

They may withdraw the offer after 30 days,but then again they may not.
If the offer is for the 2 loans as you said above,it looks like they have given you full redress.
What was the ppi on the second loan with the interest and the term?.

Who did you have the secured loan with,and what year did you take this out?.