MBNA Claim Upheld Now What

simon_the_poet

-taff wrote: »

That's my point
It isn't significant, because they're both run by the same company.

Yes I know. It just seemed coincidence that both of us had successful un-challenged claims on our MBNA brand yet the opposite on the Virgin ones, I don't usually believe in coincidence.

I still have had no luck with mine either despite further e-mails to both MBNA and the FOS

simon_the_poet

Caz_the_cat wrote: »

Just an update from my OP. Have written to MBNA just prior to Christmas giving them 14 days. As yet no reply. Next step will be to speak with FOS to find out if they will enforce. If not I will be going to small claims court. Let's wait and see, I shall give them until the end of this week to reply. Hmmmm....For some reason I am not holding my breath!

Me either

fifitrixiejane

Yeah, mine is a virgin card too.. And nope, I haven't heard anything back either! I emailed FOS before Christmas but haven't heard anything back yet.

that's a very strange coincidence though!

I notice further down the PPI board that people are having a simular problem with Barclaycard and FOS..unfortunately I'm also one of those people waiting too..where will it end I wonder?

garynuman

Ok, I have had my 2nd response from FOS (8 weeks after the deadline!) as follows :

Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR
dx 141280 Isle of Dogs 3
website www.financial-ombudsman.org.uk

Dear Mr X

Your complaint about MBNA Limited

I am writing to you about your complaint concerning the payment protection insurance(PPI) you took out with MBNA.

Following our involvement MBNA has told us that it would like to make an offer, as a gesture of goodwill and with no admission of liability, to settle your complaint.

It has told us that how much compensation you will receive will be based on the general approach that the Financial Ombudsman Service takes when we decide that a consumer has been mis-sold PPI. MBNA will calculate the exact amount you will receive if you decide to accept its offer.

The offer

We explain our typical approach to redress in the attached factsheet. The calculation of the compensation will take into account the following:

• the type of PPI you have complained about;
• whether or not there is still a loan/credit card account or PPI in place;
• any money you have received through a claim on the policy; and
• if there are any arrears on the loan/credit card account.
Further information about our approach to redress is also available on our website at
http://www. financial-ombudsman. org. uk/publications/technical notes/ppi. html.

If your PPI is still in place, the offer will be subject to you agreeing to the policy being
cancelled. This will mean that all insurance cover provided by the policy will be lost.

We cannot give you advice on alternative insurance arrangements, and you may wish to
seek independent advice about the options available to you before deciding whether to
accept the offer. You can also find information about PPI choices and costs at the Money
Advice Service's website: www.moneymadeclear.org.ukltables/bespoke/ppi


What do I need to do next?

If you would like to accept this offer, and have your compensation calculated in line with the general approach taken by the Financial Ombudsman Service, you do not need to do
anything.

We will take it that you accept the offer and we will let MBNA know. It will then write to you with the exact figures (and revised loan/credit card account details where appropriate)
within ten weeks.

If, when you get the figures, you believe that MBNA has made an error in its calculation, please contact it direct to discuss this.

Please let us know if you are unable to resolve the matter with MBNA, or if you do not hear from it after ten weeks.

Should you wish to discuss this offer further, or do not wish to accept it, please contact us before xx January 2013. Our contact details are at the end of this letter.

As we explain in our leaflet, your complaint and the ombudsman, consumers have the right to ask the ombudsman to review their complaint - as the final stage in our process.

However, now that MBNA has agreed to make an offer based on our general approach, I hope you will not feel this is necessary.
Yours sincerely

There was a document outlining how the offer should be progressed but no figures have been mentioned up to this point.

I feel this leaves me in a predicament. I have worked out (roughly) what I am entitled to but have a significant number of missing statements from early on in the policy (circa 2001). I have extrapolated the missing payments by taking the average value between 2 statements that I do still possess.

If I accept the offer on MBNA terms and they offer no-where near my estimate and cannot get satisfaction from them, it appears that I will need to complain again to FOS! Is this likely to mean I will need to wait another 18 months?

Gaz

simon_the_poet

garynuman wrote: »

Ok, I have had my 2nd response from FOS (8 weeks after the deadline!) as follows :



There was a document outlining how the offer should be progressed but no figures have been mentioned up to this point.

I feel this leaves me in a predicament. I have worked out (roughly) what I am entitled to but have a significant number of missing statements from early on in the policy (circa 2001). I have extrapolated the missing payments by taking the average value between 2 statements that I do still possess.

If I accept the offer on MBNA terms and they offer no-where near my estimate and cannot get satisfaction from them, it appears that I will need to complain again to FOS! Is this likely to mean I will need to wait another 18 months?

Gaz

Well this is at least a step in the right direction.
I would wait and see what they offer.
You can get a full set of statements by sending a Subject Access Request to MBNA (i think there is a template on here) it will cost you a tenner and they have to reply within 40 days.

There are various calculators on the forums to help work out the amount of redress you should get should you not be happy.

I just hope that this means that my claim is on the way to being resolved also.

ddebski_us

I'm waiting for the response via FOS detailing the offer; the deadline set by FOS was start of December for MBNA - guessing I still have a while to wait?

fifitrixiejane

Well this is encouraging..8 weeks would mean i 'could' get a letter myself towards the end of january. Shame about the lack of figures, as you say, it would be a bit disappointing if you don't get what you are hoping for.
Will FOS get back in touch with you should you accept the offer or will further correspondence done just through MNBA now?

If the first letter which states that MBNA should put you in the financial position you should of been should you not of paid PPI is anything to go by, then should the redress be correct rather than just a figure pulling out of the air?

interesting..
good luck!!

garynuman

fifitrixiejane wrote: »

If the first letter which states that MBNA should put you in the financial position you should of been should you not of paid PPI is anything to go by, then should the redress be correct rather than just a figure pulling out of the air?

Agreed. I just suspect, MBNA will conveniently "lose" certain statements (particularly earlier ones; circa 2000-2005) and only recompense for those that are available. I am missing a number of them myself (though not all thankfully!)

fifitrixiejane wrote: »

Will FOS get back in touch with you should you accept the offer or will further correspondence done just through MNBA now?

This is the conundrum.

If i do nothing, I will have accepted that MBNA will put me back into the position I was before I took out the insurance. Any further correspondence will then be with MBNA.

Although MBNA *should* follow FOS guidelines concerning remuneration, I am put-off as the offer is a "gesture of goodwill and with no admission of liability". Being a pessimist, I simply have no trust in them to do the right thing. It wouldn't surprise me if they offer half of my estimate (which I will refuse) and then it's back to square one again.

Alternatively, I feel that it is unreasonable to refuse the offer without reason - although I would put money on MBNA trying to 'wriggle-out' of their responsibilities.

As Simon has suggested, I will probably wait and see, but can't help feeling that I'm between a rock and a hard place.

I wish everyone luck in their claims.

Gaz

col1_2

Just been reading your post I have tried to claim for the credit card I had with Mbna from 1992-2006 they rejected claim saying I ticked box and it was an unadvised sale I have read others have had the same response I am wondering about going to FOS what was your experience

simon_the_poet

col1 wrote: »

Just been reading your post I have tried to claim for the credit card I had with Mbna from 1992-2006 they rejected claim saying I ticked box and it was an unadvised sale I have read others have had the same response I am wondering about going to FOS what was your experience

Yes they did the same with me, it depends if you have a reason to claim it was miss-sold, in my case it would have done no good,(wouldn't be able to claim anyway) but they did not bother to enquire before they sold it.

You can download the complaint form from the FOS website, but it is a long wait before they will get around to looking at it I am affraid.