MBNA and claim past 6 years

[paulb2905]

Re: MBNA and claim past 6 years

Just wondered did you use the compound interest calculation on the charges before the 8%???

It would make a H U G E difference to the amount......................

[Mrs mum]

Re: MBNA and claim past 6 years

Going for int in restitution as per sempra metals
They have till the end of the week to repsond now.

I have started to investigate relevant claims with regards going back past 6 years - if any body has any pointers they will be welcomed.

[WendyB]

Re: MBNA and claim past 6 years

Is there still a balance on the account, and if so, are you repaying at the moment, or have you stopped payment because they haven't provided the CCA? Sorry but I didn't quite "get" your above post, it's a bit early in the day for me!

[Mrs mum]

Re: MBNA and claim past 6 years

I have stopped paying repayments

[Mrs mum]

Re: MBNA and claim past 6 years

They decided to reply - right on the 14 day limit!
Thank you for you recent communication. We are currently investigating your complaint and will provide you with a full response by December 22.

What do you reckon send another 14 day lba and then file at court? Or could a court deem me to not giving them enough time to sort things out? considering they need 1 1/2 months to sort it out.

[rodintheuk]

Re: MBNA and claim past 6 years

Hi
I have been told that if you took an mbna card out before 2005 that you cannot claim any PPI , is that right?

[di30]

Re: MBNA and claim past 6 years

Hi
I have been told that if you took an mbna card out before 2005 that you cannot claim any PPI , is that right?

Hi

No, you can still make a reclaim, many have still been successful in making reclaims even from the 90's, they may try it on and say about the time barring, but basically if its only recently you became aware of the ppi mis selling then you make them aware of that.

[Ruby]

Re: MBNA and claim past 6 years

Can you charge compound interest on any PPI payments and how much?

[Bill-K]

Re: MBNA and claim past 6 years

You can RECLAIM the portion of account interest that was charged, and which is attributable to the PPI payments debited from the account. This is almost invariably compound interest, and is usually calculated separately from the PPI payments with revolving credit - such as credit cards & store cards etc. However, with fixed loans, this is usually included in the total PPI reclaimed, and is not calculated separately.

The FOS only support compensatory interest at the Statutory rate of 8% simple interest, so if you wanted to claim this as compound interest, then you will most likely have to go through the courts, and we generally do NOT recommend that route. One major reason is that you could be liable for costs if you lose the claim.

You might find this info useful. Turboman has been working on a set of 'Understanding PPI Calculations' threads here:

Understanding PPI Calculations - Legal Beagles Consumer Forum

HTH !!!