MBNA and Bank of Scotland

[bermonsey]

In 2002 Bank of Scotland added PPI to my account despite my refusing it.
Sept 2006 the account was transferred to MBNA and the PPI continued.
Aptil 2009 I noticed the PPI and stated that I had never ever had PPI.
MBNA refunded £215 premiums and £15 interest for the 3 years they charged me for.
In Jan 2010 the Bank of Scotland refunded £330 they had charged me for.
MBNA had been charged me full apr on that amount until they sold the accoint to debt collectors in
Sept 2010.
Who is responsible for refunding the interest charged by MBNA ?
April 2013 MBNA refunded interest that was due on the £215 + £15 interest, is that my money os should I send it to the debt collectors ?.
bermonsey

[di30]

Re: PPI Bank of Scotland and MBNA

Hi and welcome

When the debt was sold did it state if the DCA who taken over it also taken over all liabilities, interest of the account?
You should have received a letter from both MBNA and the DCA usually in the same envelope that confirms that MBNA no longer have any liabilities or interest of your account and that any future payments you make should be made to the DCA.

However in regards of the refund, this will usually depend on if the take over was absolute or not, hopefully someone will be along to clarify on this for you soon, good luck.

[bermonsey]

Re: PPI Bank of Scotland and MBNA

Thanks for your reply
I think I did not make myself clear, assuming an apr of 20% MBNA charged more than £300 compound interest on the £330 ppi carried forward from the Bank of Scotland. I am also entitled to to 8% compensation on all money charged.
I believe that in total the interest exceeds the debt, so I was never in debt.
Who is responsible for refunding the interest charged by MBNA ?
bermonsey

[bermonsey]

MBNA and Bank of Scotland

I did not make self clear in my first post.
Bank of Scotland added ppi in 2002 and in 2006 transferred the account, including £330 ppi to MBNA.
MBNA had the account for a further 4 years and during that time charged full APR compound interest
on the £330 ppi.
Which one of the banks is responsible for reimbursing that interest ?
bermonsey.

[di30]

Re: MBNA and Bank of Scotland

Hi there

Sorry for the confusion.

Both banks I assume, so basically Bank of Scotland until 2006 and then MBNA for the 4 years, as it attracted interest with the 2 whilst the lan was still running.
Unless someone can clarify on this.

[bermonsey]

Re: MBNA and Bank of Scotland

After 4 years FOS is now saying Bank of Scotland are responsible for MBNA's interest.
bermonsey.

[bermonsey]

PPI Bank of Scotland and MBNA

Bank of Scotland added ppi to my account despite the fact that I refused it.
After 4 years Bank of Scot transferred account, including £330 ppi to MBNA.
I now have been charged full apr on the £330 for a further 4 years.
Neither bank will accept responsibilty for the additional interest.
MBNA sold account to debt collectors 2 years ago and then in April 2013 refunded £165.
The £165 is only the interest due on the ppi MBNA charged me for.
bermonsey

[Angry Cat]

Re: PPI Bank of Scotland and MBNA

Sounds like BoS is repsonsible!
Of course, BoS is now Lloyds...

[bermonsey]

bermonsey

MBNA wrote two letters to my MP. Both were factually wrong.
They claimed they had no option but to pass my account to debt collectors. I had been saying for 4 years they had the facts wrong.
MBNA never checked the facts. I was in credit 2 years before they padded my account to the debt collectors.
What bshould I do ?
bermonsey

[Amethyst]

Re: MBNA and Bank of Scotland

I have merged your threads xx

Was your account in credit despite the interest on the PPI or is there a debt on the account made up of just the interest on PPI ?

[bermonsey]

Re: MBNA and Bank of Scotland

According to my calculations my accont was in credit roughly the same amount sold to the debt collectors.
I am told I will now receive about £1200.
Because MBNA did not check their facts before writing to my MP I believe that I was libeled.
You get 8% compensatory interest on your money.
MBNA worked theirs out to £1.64. ie: 2p for each month
bermonsey