Abbey MBNA CPP reclaim questions...

CapnBirdsi wrote: »

Hi There,

I am inerested in knowing if there is anyone that can help me with my old Abbey MBNA credit card, and knowing if and how I can claim and what charges back from them including CPP payments? I have had the card for some 7 years now, and upon receiving the card was told I could not activate it without taking out the card protection payments (CPP), even though is of no inerest or help to me, so quite foolishly at the time just agreed to do so to go out spending. The time has now come to have shot of the card, and am wanting to reduce some of the 6.5k debt as much as possible in order to save cash in the long run.

Is there anyone who knows about being mislead for CPP or what charges I am entitled to claim back? I have recently (within the last 30 days) cancelled the CPP, but proved to be quite a challenge in doing so with them, as they were not wanting to release me!

Many Thanks,
Matthew.

Hi Matthew and welcome.;)

For reclaiming back on the insurance, this is the correct thread for help and advice etc, and more info with guidelines here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Check this out, you will find a list of mis selling reasons, template letters and useful information, please ask for help though if required with this, they have 8 weeks in full to respond.

I would personally keep the charges side of it separate to the reclaiming of the insurance, and there is another thread for this on the reclaiming bank and card charges here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=102
So anything in relation to the charges side of it, the above link should be helpful to you.

Hope this helps and good luck, please keep us posted on your progress of your reclaiming.

Cheers

Di

CapnBirdsi wrote: »

Thanks very much for your help Di.

I have read the thread on reclaiming against insurance. The only issue that is confusing me is whom I should be sending the letters to? Do I send them to the people who set my credit card up at the time (Abbey back then) or MBNA who finance it, or the insurance company themselves (a company called Card Protection Payment).

Sorry for my ignorance, but as you might be able to tell I am pretty new to this sort of thing and have never made any sort of claim like this before!

Many thanks oce again,
Matthew.

Hi Matthew your doing fine.;)

You write to the ones who arranged and set it up for you from the start, as these are the ones responsible.;)

Good luck.

CapnBirdsi wrote: »

Sorry again to keep bothering you all. How would I go about finding out if the FSA had fined Abbey (back in 2003) for mis selling to their customers PPI on credit cards at that time?!?

I have search frantically all over the FSA website, but alot of it is all jargon to myself!

Many thanks,
Matthew.

Hi Matthew

I am not sure if Abbey were fined to be honest but that makes no difference, just as long as you have reasons to reclaim then that is fine, below is a copied and pasted list from Martin's PPI guidelines of reclaiming, with a list of fined providers up to date.........I cannot recall any further providers, unless someone else can clarify on this.

And do not worry lol, you ask as many questions as you want.:D;)

Many major providers, including Alliance & Leicester, Egg and Capital One have been fined for “not treating customers fairly”, and more are expected soon. If yours has, it’s very likely you’ve a case.
Does this apply to you? Expand the full list of Fined providers.

The regulator, the FSA, has said it wants to see better practice and has fined several companies for failing to treat their customers fairly. More fines, which could be for up to £1 million, are expected.

Who’s been fined so far?

• Swinton: Fined £770,000 in Oct 2009 for serious failings and an unacceptable level of non-compliant sales (on cover for home or motor insurance) between Dec 06 and Mar 08 (when it stopped selling PPI). Swinton has said it will contact over 350,000 customers who paid for the PPI and offer a full refund, as well as pro-actively review previously rejected claims. More Info: Swinton.
• Egg: Fined £721,000 in Dec 2008 for serious failings in its credit card PPI sales by telephone between Jan 05 and Dec 07. Egg has said it will be writing to customers, asking them to call a dedicated number if they are concerned they were missold PPI, and will compensate where appropriate. More Info: Egg.
• Alliance and Leicester (A&L): Fined £7 million, the highest fine to date by far, in Oct 2008 for serious failings in its PPI telephone sales between Jan 05 and Dec 07. A&L has said it will be writing to all the customers concerned. More Info: Alliance and Leicester.
• 5 motor retailers: GK Group Limited, George White Motors Limited, Ringways Garages (Leeds) Limited, Ringways Garages (Doncaster) Limited and Park’s of Hamilton (Holdings) Limited were fined a total of more than £175,000 in Aug 2008 for exposing a total of 2,175 customers to the risk of being sold unsuitable PPI policies. More Info: Motor retailers.
• Liverpool Victoria: Fined £840,000 in July 2008 for serious failings in the sale of single premium PPI on telephone loans sold betweeen 14 January 2005 and 8 August 2007. It has also agreed to compensate customers if their policy is not appropriate and to refund interest automatically. More Info: Liverpool Victoria.
• Land of Leather Ltd: Fined £210,000 in May 2008 for allowing its sales force to sell PPI, between May 2006 and Feb 2007, without effective monitoring or training. More Info: Land of Leather.
• HFC Bank, also trading as "Household Bank" and "Beneficial Finance": Fined £1,085,000 in January 2008 for putting customers at an unacceptable risk of being sold PPI when it was not suitable for them. Failings took place in branches between Jan 2005 and May 2007. More Info: HFC Bank
• Capital One: Fined £175,000 in February 2007 for failing to ensure that 50,000 customers buying credit cards and loans between January 2005 and April 2006 received important information about the policy. More info: Capital One
• GE Capital Bank Ltd: (supplies cards for Asda, Comet, Debenhams and Topshop among others): Fined £610,000 in January 2007 for inappropriate sales of its store cards and credit cards. More info: GE Capital Bank Ltd
• Redcats: Fined £270,000 in December 2006 for also not having adequate systems and controls in place to minimise the risk of unsuitable sales. More info: Redcats
• Regency Mortgage Corporation: Fined £56,000 in December 2006 for not collecting sufficient information during a PPI sale to ensure its recommendations met customers' demands and needs. More info: Regency Mortgage Corporation
• Loans.co.uk: Fined £455,000 in October 2006 for not having appropriate systems and controls to minimise the risk of unsuitable sales. More info: Loans.co.uk