Advice - MBNA PPI Reclaiming

WelshConan

Hi All

I'm after some advice about reclaiming (if I can) my PPI on my MBNA credit card. I have already claimed back my late payments fees which was quite simple but didn't realise I could claim back PPI if it was mis-sold.

The problem is I can't remember the year/date that I applied for the card (roughly 2001), plus I can't even remember how I applied i.e telephone, internet, paper etc. So I'm not 100% if I was mis-sold the PPI at the time I applied. I still have the account open but the balance is zero.

Can I try to reclaim the PPI and where do I start???

Cheers

di3004

WelshConan wrote: »

Hi All

I'm after some advice about reclaiming (if I can) my PPI on my MBNA credit card. I have already claimed back my late payments fees which was quite simple but didn't realise I could claim back PPI if it was mis-sold.

The problem is I can't remember the year/date that I applied for the card (roughly 2001), plus I can't even remember how I applied i.e telephone, internet, paper etc. So I'm not 100% if I was mis-sold the PPI at the time I applied. I still have the account open but the balance is zero.

Can I try to reclaim the PPI and where do I start???

Cheers

Hello there

First of all I would write to them or their data dept to request a copy of the agreement enclose a cover cost payment of £1 postal order or cheque payment and they should supply this by 12 days of request.

However for more information on the finance, a Subject Access Request (SAR) may be useful where they must supply everything going back as far as 6 years, but you may be lucky in receiving info going back further like I did with some of mine.

There is a charge of £10 cheque or postal order payment for this request and they have 40 days to comply, you will find the template (SAR) on the thread, but I imagine you may already be aware of SAR requests if you have already made claims.;)

Now in regards of reclaiming PPI, if mis sold check this link here for more info
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You will find a reclaim letter template, write your own reasons and they have 8 weeks to respond in full.
The letter is for both loan and credit card ppi.

Keep on at them until you receive the final response or until its a good outcome, they should let you know in the final letter of other ways this can be investigated if your not satisfied, such as with the FOS.

Post all letters by recorded delivery and keep us posted also, yell if you require any further help, good luck.;)

I assume by your username your from Wales.
Me too, (South Wales) X

igs0013

RECLAIMING MIS SOLD MORTGAGE PAYMENT PROTECTION
Hi there

I have taken a secured loan out FOR £20,000 with Kensington Mortgages on the 30/06/06. The loan has been arranged as a 2nd charge on my property through First Aid Finance Limited- the brokers who also at the time have sold me the Mortage Payment Insurance. I was told that I have to tak it.The SECURED LOAN WAS FOR PERIOD OF 120 MONTHS, HOWEVER THE PROTECTION ( ONLY FOR 60 MONTHS). Total premium of £2800 has been added to the loan at the time and all this time I have been paying intetrest on it.
As such, now I have sold the property. I have recently looked into the policy and it appers that they have mis- sold it me, not only on the grounds that at the time I have been self- employed and the policy wouldn't be applicable but also on the basis of being forced into the purchase. I have contacted the FSA to check up on the brokers and it appers that they company is no longer authorised by the FSA- it expired on 30/09/2008. I was told by the FSA THAT ALTHOUGH THEY ARE NO LONGER COVERED BY THEIR REMIT, AS THE POLICY WAS SOLD AT THE TIME WHEN First Aid Finance Limited has been regulated, my claim should be covered by the Financial Services Compensation Fund.

I have decided to write a letter of complaint to First Aid Finance after trying to call all the numbers featured on their website- ( not in use!). I have also manged to check to company at the Comanies House and optain the copy of their 2008 balance sheet. THis had their directors permamnent address.I have written a letter and posted to the registed directors home address & registed office for First Aid Finance. I have also manged to email the director from the email available on FSA WEBITE. I had no response- its been 4 weeks!

My question is:

- how long do I have to wait before taking this further to Financial Ombdsman ? Or shall I just go directly to Financial Services Compensation Fund

- what chances are there of being able to reclaim any money as the company does appear to be inactive?

many thanks

di3004

igs0013 wrote: »

RECLAIMING MIS SOLD MORTGAGE PAYMENT PROTECTION
Hi there

I have taken a secured loan out FOR £20,000 with Kensington Mortgages on the 30/06/06. The loan has been arranged as a 2nd charge on my property through First Aid Finance Limited- the brokers who also at the time have sold me the Mortage Payment Insurance. I was told that I have to tak it.The SECURED LOAN WAS FOR PERIOD OF 120 MONTHS, HOWEVER THE PROTECTION ( ONLY FOR 60 MONTHS). Total premium of £2800 has been added to the loan at the time and all this time I have been paying intetrest on it.
As such, now I have sold the property. I have recently looked into the policy and it appers that they have mis- sold it me, not only on the grounds that at the time I have been self- employed and the policy wouldn't be applicable but also on the basis of being forced into the purchase. I have contacted the FSA to check up on the brokers and it appers that they company is no longer authorised by the FSA- it expired on 30/09/2008. I was told by the FSA THAT ALTHOUGH THEY ARE NO LONGER COVERED BY THEIR REMIT, AS THE POLICY WAS SOLD AT THE TIME WHEN First Aid Finance Limited has been regulated, my claim should be covered by the Financial Services Compensation Fund.

I have decided to write a letter of complaint to First Aid Finance after trying to call all the numbers featured on their website- ( not in use!). I have also manged to check to company at the Comanies House and optain the copy of their 2008 balance sheet. THis had their directors permamnent address.I have written a letter and posted to the registed directors home address & registed office for First Aid Finance. I have also manged to email the director from the email available on FSA WEBITE. I had no response- its been 4 weeks!

My question is:

- how long do I have to wait before taking this further to Financial Ombdsman ? Or shall I just go directly to Financial Services Compensation Fund

- what chances are there of being able to reclaim any money as the company does appear to be inactive?

many thanks

Hi hun
Its 8 full weeks they have to respond, so if the outcome is not the one you want or you do not hear anything at all you can then move this on to the FOS.

However there may be a problem if the company are no longer active, do you know if they dissolved or sold this on or not?

The FOS may be able to confirm who you should complain to, they do tend to check this out for you if you ask, so give the FOS a call anyway to ask here:
http://www.financial-ombudsman.org.uk/contact/index.html

Good luck and please let us know if you can, cheers.;) X

mrscmr

Hi i have just had a successful mbna claim for ppi. got 2900 back. but had to prove that i was not paying class I contributins so had to get a letter from contributions people. they then rang me and said that they would refund the money, so it took my balance down from 17k to 14K which was great! good luck. it was quick too - within the 8 weeks.

GRIMESY

Hello all Money Savers,
I have just been paid out on two succesful PPI claims that I DID MYSELF. £3300 from Lloyds TSB for PPI on a Credit Card and £2700 from Alliance and Leicester on a Loan.
Happy Days!!

My loan was only for £8,000 to buy a van for the family business but my Dad had a personal loan for substantially more than that from MBNA. He was paying the loan in Dec 2005 but we do not know if he took it out in 2005 or not.
We have not been able to find a phone number for MBNA to ring them to ask for a copy of the loan agreement nor an address to write to them.

Can anybody help with either or both please?

downy2008

WelshConan wrote: »

Hi All

I'm after some advice about reclaiming (if I can) my PPI on my MBNA credit card. I have already claimed back my late payments fees which was quite simple but didn't realise I could claim back PPI if it was mis-sold.

The problem is I can't remember the year/date that I applied for the card (roughly 2001), plus I can't even remember how I applied i.e telephone, internet, paper etc. So I'm not 100% if I was mis-sold the PPI at the time I applied. I still have the account open but the balance is zero.

Can I try to reclaim the PPI and where do I start???

Cheers

Hi WelshConan,

I phoned MBNA to ask about PPI on my credit cards - they have a dedicated option for PPI claims when you phone. I gave them both of my account numbers, and the guy I was speaking to said that he would submit an application for mis-selling to the relevant section (I think he said advocate section), and that I would hear from them in 14 working days. I asked did I need to submit forms etc., but he said no. I then asked what the chances are that the PPI will be refunded - he stated that he has not yet come across a case that has not been refunded. Now, whether this is true, or whether he was just saying this to get me off the phone, I do not know. However, from reading the other posts on this forum, it does appear that MBNA are very swiftly settling all claims for mis-selling. In my case, I am looking at many thousands of pounds, so what I was told on the phone was extremely encouraging

mogseyward

I had an MBNA account and paid £100.00 PPI per month for many years. The PPI was supposed to cover redundancy also.

I was made redundant. Contacted MBNA and they continued to charge me £100.00 per month. I owed £4,000 + on the account. After many bailiffs letters etc., etc., I ended up paying not only the £100.00 per month, but also £4,500 and they did not pay any of the debt on the cover of redundancy in spite of many conversations with MBNA...they didn't advise that I had to apply for the redundancy through the insurance company.

This was approximately 15 years ago. What can I do to claim my PPI plus the money I paid to them. I was out of work for 2 years following my redundancy.

I'm in a quandary as to how to go about this.

Kind regards

maggy50

mogseyward wrote: »

I had an MBNA account and paid £100.00 PPI per month for many years. The PPI was supposed to cover redundancy also.

I was made redundant. Contacted MBNA and they continued to charge me £100.00 per month. I owed £4,000 + on the account. After many bailiffs letters etc., etc., I ended up paying not only the £100.00 per month, but also £4,500 and they did not pay any of the debt on the cover of redundancy in spite of many conversations with MBNA...they didn't advise that I had to apply for the redundancy through the insurance company.

This was approximately 15 years ago. What can I do to claim my PPI plus the money I paid to them. I was out of work for 2 years following my redundancy.


I'm in a quandary as to how to go about this.

Kind regards

Contact MBNA in writing to their PPI dept. With your complaint .
Or send £10 and a SAR request.Wait for 40 days and they will send you all transactions data they have.
My data went back 11 years.
You have all the information on the links page here on this forum.

[Deleted User]

mogseyward wrote: »

in spite of many conversations with MBNA...they didn't advise that I had to apply for the redundancy through the insurance company.

I doubt you'll be able to complain that you didn't claim on the insurance because the Bank didn't tell you how! The method of claiming would have been explained on your policy documentation and, fifteen years on, what evidence do you have that MBNA failed to inform you how to claim? Do you have any evidence that you actually asked them? It would have to be in the form of a letter, I'm afraid, and I can't see them telling anyone in black and white that they had to continue paying for the PPI while redundant. Your insurance cover was not provided by the Bank and they would have nothing to gain by stopping you from claiming.

mogseyward wrote: »

What can I do to claim my PPI plus the money I paid to them.

You can certainly complain that the policy was mis-sold and the fact that you never claimed on the insurance despite being redundant will certainly strengthen such a complaint. However, you'll only ever receive a refund of the PPI you actually paid plus 8% interest. No other money will be forthcoming..

Follow the link in post#2 of this thread (posted in 2009!) for details of how to complain...