How do I know how much I can claim

Knackered

I'm trying to reclaim some PPI from an old credit card account I opened with MBNA way back in 1999. I managed to find one statement from when the account was open (it's now been settled and closed for about 7 years) which shows I was paying PPI but as a result I don't actually know how much I paid towards it over the tenure of the account.

Do I have to know a figure before making a claim or will I have to just trust MBNA to pay back whatever I paid, if I'm successful?

Cheers

dunstonh

Do I have to know a figure before making a claim or will I have to just trust MBNA to pay back whatever I paid, if I'm successful?

you dont need to know the figure. However, if you dont have statements and they no longer have statements then the amount you get back may be as low as what can be proven to be paid. Some providers give an average of what it may have been but that is largely pot luck.

Knackered

So it could potentially be, at best, an arbitrary amount + interest? Guess there would be no point in refusing the goodwill offer if I don't know how much more I can get!

McKneff

You don't get PPI back just because you paid it. You have to have a provable reason for a complaint.
Or you may just get an automatic pay back.


You may end up with absolutely nothing so treat it as a bonus if you get anything at all.

Knackered

McKneff wrote: »

You don't get PPI back just because you paid it. You have to have a provable reason for a complaint.

Jeez, really?

DevCoder

Yes, its not a claim, its a complaint about the PPI being mis-sold.

PPI had to have been advised to you and then a certain number of reasons breached (for example the PPI amount being added upfront to the loan amount is one) for a complaint to be successful.

magpiecottage

I see another potential problem.

1999 predates regulation and I do not think MBNA was a member of the Banking Ombudsman scheme. If I am correct, FOS has no jurisdiction.

Knackered

krisdorey wrote: »

Yes, its not a claim, its a complaint about the PPI being mis-sold.

PPI had to have been advised to you and then a certain number of reasons breached (for example the PPI amount being added upfront to the loan amount is one) for a complaint to be successful.

I do know that, I was asking whether I needed to know an exact figure to attach to my existing claim.

magpiecottage wrote: »

I see another potential problem.

1999 predates regulation and I do not think MBNA was a member of the Banking Ombudsman scheme. If I am correct, FOS has no jurisdiction.

Weirdly this has all come about because MBNA wrote to me to follow up on a claim from a couple of years ago. Maybe they're feeling generous.

dunstonh

It is voluntary for companies to consider pre-regulation complaints. Surprisingly over the years, the big companies have often ignored regulatory dates and considered pre-regulation cases.