MBNA ppi sucess I hope

[scomad]

We have just received a letter advising our complaint about mis sold ppi has been upheld to the tune of almost 4k - now the account is in default and was sold to arrow global and short story long ccj at £25 per month to retsons so will we get the 4k or will retsons does anyone know?

[Ken100464]

Re: MBNA ppi sucess I hope

Well done for your win

However can I just ask if you have checked how the sum was calculated?

[Ken100464]

Re: MBNA ppi sucess I hope

And in reply to your question MBNA have no right to set off against the debt as they made a commercial decision to sell it.

Who got the CCJ? MBNA or Arrow?

[scomad]

Re: MBNA ppi sucess I hope

Hi it says ppi charged plus associated interest plus applicable gross interest at 8% less uk witholding tax - is that helpful?

[scomad]

Re: MBNA ppi sucess I hope

And arrow got the ccj

[Ken100464]

Re: MBNA ppi sucess I hope

yes very helpful.

I would go back to MBNA and ask for your spreadsheet of the workings out. It starts V20 followed by some other numbers. This is an evolving spreadsheet so cannot give you the exact number.

Hopefully in the next day or so there will be something added to this site if admin allow advising you about MBNA claims and the calculations that seem to NOT follow how the regulator intended them to calculate.

If you are affected and I can tell you in 5 secs of seeing your spreadsheet then you will have been undercompensated by 30 to 50%.

This has been tested so not just an idle post to you. My advice is get that spreadsheet. FOS will order them to divulge it if they wont give it you. You are entitled to it.

As to the other part the CCJ etc its probably best to seperate them in your mind. If MBNA had done you then it would perhaps be even more interesting for you than the fact you might be due more.

Get that spreadsheet its vital and vital you ge it quickly. I would also put something in your letter about accepting the money pending review of the calculations.

[scomad]

Re: MBNA ppi sucess I hope

That seems too good to be true - just getting used to the fact we won - I would like to wait until I know who they are paying the money to it says in their letter that if they have sold the amounts due under this account they may recall the debt to reduce it by the redress - I dont know whether I should be excited or not!!!!

[Ken100464]

Re: MBNA ppi sucess I hope

Understand where you are coming from as felt the same as you did when we won.

It doesnt cost to check and you are supposed to be given this information anyway. If they have calculated correctly then you will know all is good.

If they havnt I can advise you within 5 secs. This has been looked at for 18 months. My own claim is 50% light.

If you accept then FOS maybe minded after 6 months not to help. Sleep on it and maybe scan the forum for further information in the next few days hopefully

[scomad]

Re: MBNA ppi sucess I hope

Ok thanks so much for your help - do you believe that ultimately the money is ours and cannot be used to pay the debt?

[Ken100464]

Re: MBNA ppi sucess I hope

What banks should and should not do is something beyond me.

One would have thought that seeing as the bank sold the debt and the new owner has then taken you to court that this one has bolted for MBNA.

FOS indicate this also as per the following passage from their website

But if the debt was sold on to a third party and it cannot be bought back, or the business chooses not to buy it back, we might take a slightly different approach. That is because the consumer does not owe the business money – it owes money to the third party that bought the debt instead. When selling the debt the business made a commercial decision and accepted an agreeable price for the debt. In those circumstances, we would usually tell the business to calculate the compensation as normal at the point it sold on the debt – and to pay all parts of the compensation to the consumer. The business should also consider the possibility that the consumer might have incurred further losses since the debt was sold on as a result of PPI being included on their debt.

[scomad]

Re: MBNA ppi sucess I hope

Just to let you know the cheque arrived today for the full amount we cant believe it!! I will write and ask for the breakdown after the cheque has cleared - feeling very very happy

[Ken100464]

Re: MBNA ppi sucess I hope

Well done.

Do write and ask for your spreadsheet calculations. I can tell you in 5 secs if your spreadsheet is one of the ones I was alluding too.

I hope it isnt and they have settled for you properly.

Enjoy

[scomad]

Re: MBNA ppi sucess I hope

Thank you Ken - I am just waiting for the cheque to clear and then I will be writing - I will be intouch as soon as I have the spreadsheet and I hope they have got it wrong!! :tinysmile_twink_t2:

[scomad]

Re: MBNA ppi sucess I hope

Hi Ken - I now have the spreadsheet calculation are you able to review it for me? Many thanks

[Ken100464]

Re: MBNA ppi sucess I hope

Sure no problem.

Ideally need to see the spreadsheet minus your personal details but if you dont wish to just a few questions.

1) What is build number (In header banner should be V20 something)
2) In detailed breakdown within body of spreadsheet there is a heading in the centre. Is this RECONSTRUCTED PAYMENT
2) In this section is there a further sub heading TYPE
3) Under the heading Type are you seeing the letters F or M at all on any dates
4) In detail breakdown again is the third from the right column headed SURPLUS REDRESS.

Just need yes or no for most of them and I will be able to say what calculation they have used.