1chizal v MBNA Loans - Advice Please

1chizal

HI All,

Could anybody help with the below:

I sent my three letters for PPI mis sold claims on three seperate loans (1998 - 3k, 2004 - 6.5k both payed in full and 2006 -22k one year remaining) with MBNA Loans on 17th September, 2009.

After various letters backwards and forwards, I have recieved the following letter from MBNA referencing all 3 loans.

Thank you for BLAH BLAH BLAH..............................

I regret that we are unable to agree with all your points that you have made in your complaint on this occassion. However, we would like to bring your complaint to resolution in a timely manner. In order to provide you with a satisfactory outcome we have decided to settle your complaint with a refund of overpayments made as a result off the PPC, plus intrest at 8% as a gesture of goodwill.

I can confirm that I have forwarded the details onto the Loans department who will be in contact within the next six weeks to confirm the details of the refund. BLAH BLAH BLAH

BLAH BLAH BLAH

I must inform you that this is our final response on the matter. If you remain dissatisfed with the response, you may refer your complaint to the FOS, within six months of the date of the final response.

BLAH BLAH BLAH BLAH BLAH

Has anybody else had similar letters from MBNA?

Can anybody adivse me on how much I can expect to recieve, I have got a clue. I do know the last loan (taken out in 2006 - 22k over 48 payments) which has 9 repayments remaining. The current intrest rate of 8.9% and my monthly repayments are £688.21/month?

Not sure about the other 2 loans.

Any advise or sums would be greatly recieved. Many Thanks in anticipation.:o:o

di3004

1chizal wrote: »

HI All,

Could anybody help with the below:

I sent my three letters for PPI mis sold claims on three seperate loans (1998 - 3k, 2004 - 6.5k both payed in full and 2006 -22k one year remaining) with MBNA Loans on 17th September, 2009.

After various letters backwards and forwards, I have recieved the following letter from MBNA referencing all 3 loans.

Thank you for BLAH BLAH BLAH..............................

I regret that we are unable to agree with all your points that you have made in your complaint on this occassion. However, we would like to bring your complaint to resolution in a timely manner. In order to provide you with a satisfactory outcome we have decided to settle your complaint with a refund of overpayments made as a result off the PPC, plus intrest at 8% as a gesture of goodwill.

I can confirm that I have forwarded the details onto the Loans department who will be in contact within the next six weeks to confirm the details of the refund. BLAH BLAH BLAH

BLAH BLAH BLAH

I must inform you that this is our final response on the matter. If you remain dissatisfed with the response, you may refer your complaint to the FOS, within six months of the date of the final response.

BLAH BLAH BLAH BLAH BLAH

Has anybody else had similar letters from MBNA?

Can anybody adivse me on how much I can expect to recieve, I have got a clue. I do know the last loan (taken out in 2006 - 22k over 48 payments) which has 9 repayments remaining. The current intrest rate of 8.9% and my monthly repayments are £688.21/month?

Not sure about the other 2 loans.

Any advise or sums would be greatly recieved. Many Thanks in anticipation.:o:o

Hello there.

Well done on your success.:beer:

I would ask that they send you a full detailed written breakdown in the post, this should show all the calculations of how they worked this out, or write specifically for them to post you the workings out.
They should do this on request, good luck.;)

1chizal

Hi Di,

Many thanks for all your help, I never would of believed it without the help of MSE. Thank you.

Do I take this letter as a defiant win??

Do you have any idea what I could be looking to get in repayment, 6 weeks is so long to wait for there repsonse of a figure for each loan.

Kind Regards

di3004

1chizal wrote: »

Hi Di,

Many thanks for all your help, I never would of believed it without the help of MSE. Thank you.

Do I take this letter as a defiant win??

Do you have any idea what I could be looking to get in repayment, 6 weeks is so long to wait for there repsonse of a figure for each loan.

Kind Regards

Your very welcome and so happy for you.:T:T

Right in calculations I am absolutely hopeless , if the accounts are settled normally your refund should work out a little more than you actually paid, plus interest added in as well usually.
To give you more of an idea, where if the accounts are settled or active and now the FOS would normally calculate refunds check this link here which is useful:
http://forums.moneysavingexpert.com/showthread.html?t=1596473

Or maybe someone will be along to check these for you soon who are good at working out calculations, that is my sore point though sorry.:o

In regards of being a defiant win, it looks all set to go your way.:beer:

You can if you want to post about the calculations in the above top thread PPI reclaiming discussion where Tiggrae mainly posts on that one and works calcs out for many, also Marshallka etc, so please feel free to post on there as well, I'm sure if they are not along tonight they will be tomorrow at some point.

Hope this helps for now.;)

1chizal

Cheers Di So thankful

di3004

1chizal wrote: »

Cheers Di So thankful

With pleasure.:A;)