MBNA Payment Protection Insurance (PPI) has hit borrowers from all walks of life. The MBNA Payment Protection Insurance (PPI) miss-selling scandal can be traced back as early as 1990 possibly earlier. MBNA PPI continues to make the news headlines for all the wrong reasons and impact borrowers today. You do not need to use a claims management company to make your complaint to your bank and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free. If you had MBNA PPI for a loan, credit card or mortgage anytime between 1988 to 2014 and suspect or know you were paying for PPI, please contact us immediately.
The amount of money borrowed on credit cards is enormous and for that reason, many MBNA credit card holders have been mis-sold MBNA PPI. MBNA has been offering credit cards and loans since 1982, the company is one of the largest credit suppliers in the UK. It is estimated that one in every 3 people in the UK has had an MBNA credit card at some point in their life. Unfortunately, many MBNA cardholders unbeknown to them have been paying PPI.
MBNA PPI clients in some severe cases were unaware that the overall costs of the PPI when you factor in the PPI and the compensation work out to be much more than the overall amount that was borrowed. As you seek answers to those questions, a little background is in order to help you understand the murky world of PPI miss-selling. Many borrowers may not even be familiar with MBNA PPI, and that is one of the reasons MBNA are being inundated by borrowers who have mis-sold this insurance. In fact, many customers who were sold PPI by the MBNA paid a very high price for it. Some never knew that it was part of loan or credit card that they were getting. However, that is only one of the ways PPI was mis-sold there are many more, in fact, the list of reasons are endless. MBNA PPI Claims is a claims management service operated by claimspower and regulated by the Financial Conduct Authority. If you think you were a victim of being sold PPI please click here now and we will tell if you were sold PPI and we will help you establish if you were mis-sold PPI.
The purpose of PPI is to make payments your credit card, or your MBNA loan when you find yourself unable to make the payments on your own. In some instances and for some borrowers, purchasing PPI may be appropriate. However, for years the lending industry mis-sold PPI. Many MBNA credit card customers paid a monthly fee for PPI and unless they paid very close attention to their bills, were unaware of the extra charges.
In some cases, borrowers never realized that they had purchased PPI in the first place. As borrowers filled in the forms to take out a loan or be issued a new credit card, the box to purchase PPI may have been “pre-checked”. This is contrary to the law, which says that add-on items such as PPI must be offered on an “opt-in” basis rather than having to take the item off the contract. Being mis-sold in this way would be a legitimate cause for filing an MBNA credit card PPI claim.
The specific circumstances of an MBNA credit card applicant often determine whether or not PPI is appropriate. You needn’t be an expert in this field. We have successfully guided PPI claims due to all kinds of mis-selling through the claims process and won many significant compensations awards for our clients
If you had MBNA PPI for a loan, credit card or mortgage anytime between 1988 to 2014 and suspect or know you were paying for PPI, please contact us immediately. No old paperwork is required in order to perform the search, however, if you have any documents that support PPI policy on your account then please provide this information as this will enable us to fast track your claim. You do not need to use a claims management company to make your complaint to your bank and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free. If you had MBNA PPI for a loan, credit card or anytime between 1988 to 2014 and suspect or know you were paying for PPI, please contact us immediately.
However, if all of this does sound familiar and you have had an MBNA credit card rejected PPI claim, don’t give up hope. We are experts in handling these cases as well. In fact, you will find many MBNA credit card holders who complain about rejected claims. If there is one thing we have noticed through our years of experience with these issues, it’s that the review process by the MBNA is very uneven and unpredictable.