Help Needed. MBNA redress calculations Do you have two spare stamps

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Just to keep this thread updated.

Another two letters from FOS yesterday saying they are still looking at MBNA's methods and they are sorry for the length of time taken to look into this. Take as long as they want (well maybe not hundreds of years) as long as the conclusion is the bank has chosen on purpose not to follow the regulators handbook with one sole intention in mind. To reduce the payouts to thousands of customers who were missold this useless product.

I am viewing this as positive as if we were totally wrong we would have been told the banks do not lie and cheat and rip customer's off because there is no such thing as a bent banker.

Again thanks to everyone who supported us back in march

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

LOL @ working in the butts - I forgot about 'butt duty,' with its dubious connotations. As I recall, we were supposed to hold a pointer up to show the shooter where they hit the target. As I recall - if the shooters were from a disliked squadron - we would point to the outer ring, anyway !!! I can't remember what we pointed to for a complete target miss. I got the ATC marksman's badge (on .22's) - but never managed the RAF badge on .303's, as the recoil scared me hitless.

I see you know your guns then, TC. I applied to join the RAF as a 'Brylcreem Boy' (aircrew) in 1969/70, but was rejected by aircrew selection at Biggin Hill. They invited me to re-apply as ground crew, but I said I wanted to fly the damned kites - not grease the engines !!!

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I forgot about .177 air rifles, TC. I never owned a gun (not even a spud-gun), but I believe the .177 pellets travelled faster, due to their smaller calibre - and therefore they hurt more if you got hit !!! I was in the Air Cadets (ATC) for a few years, and we often fired .22 & .303 firearm rifles with 'live' ammo on the ranges - which was a thrill for us youngsters. The .303's were scary, as the bullets were huge and the guns were deafening (no 'pansy' ear-protectors back then) - and on the bus back home from the .303 firing range at Pirbright, the rugby songs were terrible, because we could hardly hear each other !!!

Yes - do please send me a copy of the spready, Matty. Anything which blows Turbo's mind interests me - which is probably why I enjoyed discussing guns recently - LOL !!!
I promise not to slag it off, because the more I have learned about spreadies over the past few years - the more I have realised how little I know about them - and the real Excel experts are awesome. I'll check out your HSBC thread, too. Perhaps you could attach it to a PM, or an email it to me at:

Simiantics@gmail.com

You are right Bill:- the pellets were small and my Mother eventually worked out why the apple tree had so many dents and lead in it! clip ear again, yet on leave from the Army that tree survived years later, 303 .22 & 7.62 also 9mm, smg all my weapons in service, some Bisley targets etc. when I was not working in the Butts!

[MattyA]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Will do Bill.
Regards,
Matty

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I forgot about .177 air rifles, TC. I never owned a gun (not even a spud-gun), but I believe the .177 pellets travelled faster, due to their smaller calibre - and therefore they hurt more if you got hit !!! I was in the Air Cadets (ATC) for a few years, and we often fired .22 & .303 firearm rifles with 'live' ammo on the ranges - which was a thrill for us youngsters. The .303's were scary, as the bullets were huge and the guns were deafening (no 'pansy' ear-protectors back then) - and on the bus back home from the .303 firing range at Pirbright, the rugby songs were terrible, because we could hardly hear each other !!!

Yes - do please send me a copy of the spready, Matty. Anything which blows Turbo's mind interests me - which is probably why I enjoyed discussing guns recently - LOL !!!
I promise not to slag it off, because the more I have learned about spreadies over the past few years - the more I have realised how little I know about them - and the real Excel experts are awesome. I'll check out your HSBC thread, too. Perhaps you could attach the spready to a PM, or an email it to me at:

Simiantics@gmail.com

[MattyA]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Cool !

[The Tech Clerk]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I will send you a copy ....dont slag it off too much ;-)
Ps Unbelievable letter from HSBC yesterday...will update on my thread.
PPS I also had a BSA air rifle .22 i think. The 70,s were great!

BSA . 177 in the 50s I had.

[MattyA]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

I will send you a copy ....dont slag it off too much ;-)
Ps Unbelievable letter from HSBC yesterday...will update on my thread.
PPS I also had a BSA air rifle .22 i think. The 70,s were great!

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Lovely story about you and your biker mates, Matty - espesh your dad. The BSA Bantam and the Triumph Tiger Cub were stable-mates, I believe. Although I may perhaps have fired a few .22 & .303 rounds on BSA guns, I never held a BSA bike in my arms. I did, however, acquire a non-running T.Cub, but I never managed to get the bugga to fire properly. The guy I eventually flogged it to reported that the two valve push-rods were crossed over in the tube running down the side of the cylinder !!! D'Oh !!! As regards Fanny Barnetts - they were often very 'low-slung,' and looked quite sporty (for the time), as I recall.
I did a nifty 'bodge' on my Berkeley (with Excelsior 2-stroke) after innumerable cold mornings of non-starting. I ran a tube from the carb float chamber to an electric fuel pump, which drained it back into the main fuel tank at the end of the day. This cleared the jets, and stopped the 2-stroke oil from gumming them up next morning - and it worked a treat !!!

Again - to business - it looks like you have some other claims that may be of interest as regards re-cracking that old "F&F" chestnut. Do please let us know, as this is an interesting aspect. As regards me "coming across" - I'll have you know sir that I'm strictly hetero (although not practising much these days - it never made me perfect). Seriously (yet again) - I can't remember that spready that you shared with Turbo, but maybe he didn't send me a copy, as he has had a lot to deal with lately, I believe. I would be interested to see it, and to learn further, if I may.

[MattyA]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Hear, hear, Ken.

Matty - I do hope that you and your dad can realise that dream with the Norton this Winter. I enjoyed several years on two wheels starting (embarrassingly) with a Lambretta LI150, followed by a Villiers Panther 197cc 2-stroke bike, and finally the Matchless 350cc. I was a fair-weather biker, though, and got fed-up with arriving at work cold and wet, and squelching around all morning - so I got myself a Berkeley 3-wheeler, powered by an Excelsior 350cc 2-stroke, which was a brilliant little car with all the drive & steering at the front and a 'floating' single rear wheel.

Back to reality...Yes, I think we can trash any 'F&F' argument as you have said:- and that empty assurance has been repeated by MBNA & other lenders ad nauseam, so I reckon they have collectively managed to trash that little 'caveat' for themselves quite nicely. It's also good to see that time is on your side, Matty - so why not make the most of it ?

I will do my very best to get the Norton back on the road.....as he gave me the best years of my life by allowing me to be a motocrosser, it brought us together ( 2 quite chaps) and is where I made my life long friends as a teenager - Including dad.
Glad to hear you enjoyed your bikes as well , if we do get the Norton going there are 2 others waiting in the garage - A BSA bantam 175 and a Francis Barnett 250 both very original and 2 stroke. Just imagine the smoke out of the back of them!

Back to the job in hand , I am going to re-open the files with both MBNA and a number of other lenders all of whom I settled with on a similar understanding.

I will keep you posted.

Well done to you by the way for coming across to help us , we were in contact on the other side , where I dont know if you remember I provided Turboman with a copy of my own spreadsheet for calculating redress , which blew Turbomans mind.

Thanks and keep up the good work.

Matty

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

If ever there was a situation where FOS should be adding additional compensation to our claims for a bank messing consumers about then this is it.

Hear, hear, Ken.

Matty - I do hope that you and your dad can realise that dream with the Norton this Winter. I enjoyed several years on two wheels starting (embarrassingly) with a Lambretta LI150, followed by a Villiers Panther 197cc 2-stroke bike, and finally the Matchless 350cc. I was a fair-weather biker, though, and got fed-up with arriving at work cold and wet, and squelching around all morning - so I got myself a Berkeley 3-wheeler, powered by an Excelsior 350cc 2-stroke, which was a brilliant little car with all the drive & steering at the front and a 'floating' single rear wheel.

Back to reality...Yes, I think we can trash any 'F&F' argument as you have said:

... but it was agreed on the proviso that the redress offered was in accordance with the fos guidelines.

- and that empty assurance has been repeated by MBNA & other lenders ad nauseam, so I reckon they have collectively managed to trash that little 'caveat' for themselves quite nicely. It's also good to see that time is on your side, Matty - so why not make the most of it ?

[MattyA]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

In response to Matty's post...Is that a Matchless bike in your avatar ? 350 or 500cc ? I had a 350 for a while, back in the '70's.

Yes indeedy sir - we are now finding that the FCA is supporting the reclaiming of PPI-attributable penalty charges, so these can be included in the claim (along with apportioned account interest).

As regards your renewed fight, Matty - yes, go for it, say I. They will of course argue that you settled in 'Full and Final' - but where there is a clear case of deliberate deception, I believe that this argument fails. Even if it is not seen as a deliberate deception, I reckon it is impossible for a huge lender such as MBNA to say it was an innocent mistake - particularly when they have clearly employed a bunch of expert maths geeks to fabricate this fairy tale.

The bike is a Norton Dominator featherbed.....not sure if 88 or 99.
My dad has one in bits in his garage , which has been there since I was 10 .....40! years ago.
It is in my sights as a project for me and my dad over the coming winter.....before he is too old to realise it.
We love our bikes , him from his youth as day to day transport and me from filed bikes then years on the motocross circuit......they are in the blood.

Re MBNA I agree about the full and final , but it was agreed on the proviso that the redress offered was in accordance with the fos guidelines.
Worth a punt.
If nothing else it will delay their attempts to recover monies from me, which I believe are not due to the shortfall in redress.

Matty

[ken100464]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

Cant add anymore than Bill has.

You have come across a credit card company who seems to think that they only have to calculate monthly any redress due. Either the FCA will deal with this correctly now they are aware of it or they will find they will loose public confidence quickly. That said some of the decisions and public humiliation of companies does seem to indicate a very different regulator.

OP well done for working out that not only did they miss sell you a useless product they have then tried to NOT put you back into the position you would have been if they hadnt miss sold it. If ever there was a situation where FOS should be adding additional compensation to our claims for a bank messing consumers about then this is it. My own claim has been with FOS for nearly 2 years. Thats an additional 2 years MBNA has held my money.

[colonelsensibl]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

The spreadsheet worked wonderfully well thank you. APR was a jumble of Retail and Cash Interest, so I used the PPI apportionment option which as you rightly guessed gave a higher associated interest (of £292.48, opposed to the £280.20 MBNA have paid). The "8% compensatory interest column" came out at £1427.54.

I've written back to MBNA showing the FOS's worked example of PPI redress on credit card closed/PPI cancelled, then substituted their PPI total/associated figures to generate compensatory 8% interest of £1416.22.

I'll give them some time to come back, then over to FOS if need be. I'll post on developments.

[Bill-K]

Re: Help Needed. MBNA redress calculations Do you have two spare stamps

In response to Matty's post...Is that a Matchless bike in your avatar ? 350 or 500cc ? I had a 350 for a while, back in the '70's.

Yes indeedy sir - we are now finding that the FCA is supporting the reclaiming of PPI-attributable penalty charges, so these can be included in the claim (along with apportioned account interest).

As regards your renewed fight, Matty - yes, go for it, say I. They will of course argue that you settled in 'Full and Final' - but where there is a clear case of deliberate deception, I believe that this argument fails. Even if it is not seen as a deliberate deception, I reckon it is impossible for a huge lender such as MBNA to say it was an innocent mistake - particularly when they have clearly employed a bunch of expert maths geeks to fabricate this fairy tale.