Confused By MBNA Offer??

cashlifestyleforme

Hi Everyone

I am a newbie here, but I have been inspired by Martin's advice and eveyone's efforts and successes. I aim to have some savings to my name instead of debt - so watch up banks/credit card companies here I come. I am already living a cash only lifestyle, and although it can be hard at times, I definitely sleep much better a night because of it!;)

A couple of weeks ago I wrote to MBNA to claim back the PPI on my credit card which I have had with them for 10 years. The guy on the phone said that the would offer me £1063, but I said to him that i would need to review all of my old statement before i could make a decision on accepting his offer. I think that £1063 is pretty low considering that I have been paying nearly £50 per month on my current balance and 10 years is a pretty long time to be paying PPI.

My questions are:-

1. He said that there would be a charge of £4 per statement.
This seems pretty high considering that most banks and credit card companies have only charged me £10. They do go back over 10 years, but does this seem correct. Or is it just a tactic to put me off checkng?
Does anyone know how long it takes to get old statements back from MBNA?

2. Also do you ask for the interest back on these charges. I didn't mention it on the phone to the guy as I wasn't sure if you do that or not.
Do I enclose a breakdown of all my charges and interest, together with a copy of all my old statements when I respond to them?
The guy is going to put his offer in writing. I am not sure if there will be a time limit on accepting. I am going to check that out.

3. Also can they take the refund off my current credit card balance. I would really prefer that they didn't, but I don't know where I stand on this? I will push for it though.

Thanks for listening:o

marshallka

Hi, I don't think mbna redress against the card although some do and get away with it too. ALso if you are not happy with their redress then I would ask and PROVE that you are actually owed much more. This is obviously their first offer (I assume goodwill???) and you do not have to take it. There is nothing to lose from asking for all the PPI back from them and also 8% statutory interest for being deprived of the monies in the first place. If they do not uphold it your way then you always have the option of FOS and you could tell them that. They may change their minds without the need.

Put everything in writing too so you have proofs of their offer and send by recorded delivery should this have to go further.

Good luck

shanouck

I have had mbna for about the same time and have been paying about £70 a month ppi - i have not made a claim as of yet with them and i have not called them to cancel it or make a ppi claim- but on the statement from them that i have just recieved - there is NO ppi payment on it?? like all the other statements - so where is it gone and what are they playing at?? I was going to claim ppi but find in January 2010 i will be made redundant...What should i do??

di3004

shanouck wrote: »

I have had mbna for about the same time and have been paying about £70 a month ppi - i have not made a claim as of yet with them and i have not called them to cancel it or make a ppi claim- but on the statement from them that i have just recieved - there is NO ppi payment on it?? like all the other statements - so where is it gone and what are they playing at?? I was going to claim ppi but find in January 2010 i will be made redundant...What should i do??

Hi there

I would request for the copy of your agreement, if this is still active they should still have your details, the PPI is shown on the agreement you originally signed for.
Just write a simple letter enclose £1 postal order or cheque payment, and request they send this by 12 days, post by recorded delivery.

For even more paperwork, the other option is a Subject Access Request (SAR), they have 40 days to comply, and the cost of this is £10 payable by either cheque or postal order, there is a template letter for this in the below link.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Hope this helps, please keep us posted.;)

PaulinWeston

I agree with the others:

1: They can charge you pretty much anything you like for copies of your statements (my bank once tried to charge me £25 for a copy of a statement). - You need to make it clear that you are not asking for copies of the statements per se - but the details that the company holds about you. This is the information that you're entitled to, by law, for £10! (this is the Subject Access Request) I would add the following to the SAR letter. "I’m not requesting the statements per se, but the details, which I’m entitled to by law. If you store any of the older records on microfiche, please be aware that the Information Commissioner deems this to be a relevant filing system under the Act. As such, any microfiche data must be sent to me in fully legible and comprehensible form."

2. If you feel you have a claim - you are entitled to request for interest from the date you made the payment until the date they they repay.

3. When you make your request for the return of the premiums (plus interest) - make sure you say "I request the return, by cheque....." so there can be no doubt that ths is how you want the money returned.

Hope this helps

shanouck

Thanks very much for that - di3004

I just can not make any sense of it at all, and am not sure what to do or how to act on this in the proper manner...I will ask for a copy of the agreement like you say as it is still active as i have not cancelled it with them..and i will keep you posted on this matter".

Duffas27

Hi, i have just sent a SAR request to MBNA with a postal order and sent it recorded recorded delivery.

They have sent everything back to me and said they need proof of my signiture, they want me to sent a copy of my driving licence or passport.

Is this correct? i didn't have to sent such proof to open the account? shall i just sent a copy of my driving licence?

di3004

shanouck wrote: »

Thanks very much for that - di3004

I just can not make any sense of it at all, and am not sure what to do or how to act on this in the proper manner...I will ask for a copy of the agreement like you say as it is still active as i have not cancelled it with them..and i will keep you posted on this matter".

Your welcome hun.;)

As soon as you receive it, let us know and we shall move on to the next step.;)

di3004

Duffas27 wrote: »

Hi, i have just sent a SAR request to MBNA with a postal order and sent it recorded recorded delivery.

They have sent everything back to me and said they need proof of my signiture, they want me to sent a copy of my driving licence or passport.

Is this correct? i didn't have to sent such proof to open the account? shall i just sent a copy of my driving licence?

Hi there,

Yes some do ask for evidence, I hate the fact though its a signature, it makes you think in one sense about that one doesn't it?

I sent a photocopy of a utility bill and photocopies the drivers licence, sent them that, if you want to make sure on this, if your curious if you should do this or not ring the ICO, (Information commissioners office), here
https://www.ico.gov.uk/Global/contact_us.aspx

Ask them if your obligated to send these, as your concerned about he signature issues if you wan to.

Mine was a different company.

Duffas27

Thank you di3004

di3004

Duffas27 wrote: »

Thank you di3004

Your welcome.;)