MBNA Loan

wullie-eng

Hi all,

Please excuse me if this has been discussed before and i've not found it anywhere yet.

I have a Loan with MBNA due to expire in April 2010.

I took the loan out 3.5 years ago.

recently i called them for a settlement figure as i had lost my paper work.

during my internet search for the MBNA loan helpline number i have came across this website regarding PPI and mis sold policies etc..

My loan was 5k over 4 years @ £150 a month, i spoke wit MBNA on tuesday of this week to request a copy of my agreement and the advisor said it would be sent out although i have cheked and you do NOT have insurance added.

My question is, why would they say this with out me asking first? and is it possible that any PPI could be hidden or incorporated into the loan as the more i think of it the more i'm convinced i'm paying far to much for the loan.

I appreciate all and any feedback on my way to financial security (£15k dept paid of in 1.5 years )

Thanks again.

Wullie.:D

Comyface

Why would they say that without you asking? Good question, I think the answer is probably that they've been overrun with people calling because they want to claim their PPI back, so they thought that was the reason you were asking.

No, the PPI can't be hidden, it will be clear whether it's there when you get your agreement.

wullie-eng

Thanks ever so much for the reply!

I'll check the paper work over when i get it and "Pay Off" another Debt!

All the Best.

Wullie.

di3004

wullie-eng wrote: »

Hi all,

Please excuse me if this has been discussed before and i've not found it anywhere yet.

I have a Loan with MBNA due to expire in April 2010.

I took the loan out 3.5 years ago.

recently i called them for a settlement figure as i had lost my paper work.

during my internet search for the MBNA loan helpline number i have came across this website regarding PPI and mis sold policies etc..

My loan was 5k over 4 years @ £150 a month, i spoke wit MBNA on tuesday of this week to request a copy of my agreement and the advisor said it would be sent out although i have cheked and you do NOT have insurance added.

My question is, why would they say this with out me asking first? and is it possible that any PPI could be hidden or incorporated into the loan as the more i think of it the more i'm convinced i'm paying far to much for the loan.

I appreciate all and any feedback on my way to financial security (£15k dept paid of in 1.5 years )

Thanks again.

Wullie.:D

Hello Wullie and welcome.;)

If the policy was mis sold to you for any reason, then give it a go on reclaiming the PPI back and the interest etc.

For more info with the guidelines or reclaiming check the link below, you will find useful info, a checklist of mis selling reasons and template letters, yell if you require any help and good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Di

wullie-eng

Thanks for the welcome Di.

I'll see what the policy states when it arrives, i just wish i was more sensible when i was younger lol.

Almost debt free just now:)

All the best.

Wullie.

marshallka

wullie-eng wrote: »

Thanks for the welcome Di.

I'll see what the policy states when it arrives, i just wish i was more sensible when i was younger lol.

Almost debt free just now:)

All the best.

Wullie.

What are the details of your loan? What is the loan amount, APR and repayments and how long over? We can perhaps see if there was PPI added this way.

wullie-eng

marshallka wrote: »

What are the details of your loan? What is the loan amount, APR and repayments and how long over? We can perhaps see if there was PPI added this way.

hi,

As above the loan is 5k over 4 years @£150 per month well its actually £149.18.

APR i do not know as i have lost my policy, awaiting copy to be sent by MBNA as we speak.

Wullie

marshallka

wullie-eng wrote: »

hi,

As above the loan is 5k over 4 years @£150 per month well its actually £149.18.

APR i do not know as i have lost my policy, awaiting copy to be sent by MBNA as we speak.

Wullie

Ok, I cannot do this without the APR but it would have settled your mind perhaps;). You will have to wait for the agreement then. Sorry.

wullie-eng

marshallka wrote: »

Ok, I cannot do this without the APR but it would have settled your mind perhaps;). You will have to wait for the agreement then. Sorry.

I appreciate your help.

thanks.

Wullie.

marshallka

wullie-eng wrote: »

I appreciate your help.

thanks.

Wullie.

Anything else, just ask away;).

wullie-eng

marshallka wrote: »

Anything else, just ask away;).

Ohh i'm sure i will lol.

My partner has a loan and was told she MUST have the PPI or she wouldnt get it.

We have through this site realised that this information is in correct and she is paying £22.94 over 260 weeks for an item she did not want but was told she must have.

I will see how we get on and no doubt look for advice along the way.

All the very best.

Wullie.