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  • Debt & Negative Equity

    Malouf v MBNA – Section 75 makes Credit Card company liable for refund in scam

    Thank you to PT's legal partner Anthony Gold Solicitors for drawing my attention to this recent County Court ruling that may affect people who have paid for property related services on their credit cards.

    In the case of Malouf vs. MBNA ....

    in 2011, Gillian Malouf, of Stockport, Cheshire was persuaded to invest £15,000 with a firm called Land International Ltd, of Cheltenham, Glos, run by Michael Morris and Stephen Meissner. It has since been shut down in the public interest. (Source story)

    She also sent almost £12,000 to Hayden James Land Acquisitions, which has also been shut down. Despite this being a perfect example of one of the most common property-related scams, her credit card provider MBNA Europe Bank refused to refund her money, and the Financial Ombudsman Service upheld that decision at the time.

    Her claim failed because, although the deals were disastrous, she could not prove that she'd been misled.

    "My reaction is total disbelief that the law of the land, set up to protect the consumer, can be misinterpreted so blatantly," said Mrs Malouf.

    "The Consumer Credit Act 1974 is supposed to be a 'black and white' national law, section 75 especially is supposed to provide consumers with protection in cases of misrepresentation and or breach of contract, where the credit card company is jointly liable with the supplier. I know I had both in these first two instances above".

    Mrs Malouf challenged MBNA and has subsequently won a full refund as the Court found that she had been misled and that the credit card company should provide the protection.

    This sets a new precedent for people who have been scammed, but paid on their credit card.

    The judgement, which may well be of use to those struggling with their Credit Card company refusing to pay out under Section 75, is of note because of the time passed since the payment date, and also the fact that the payment was processed by a different company.

    You can read the full judgement.

    We think this is of interest to PT members who have paid property reservation or deal sourcing fees, or deposits for mentoring and seminars, on their credit cards, as they may be able to secure a refund via their CC provider if they have reason to believe that the product/service was misrepresented to them.
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    Its a clear message that Credit Cards can come in handy! .. Keep your debit card in your pocket when it comes to big ticket items.
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    THIS PROPERTY TRIBES ACCOUNT IS NO LONGER USED.
    DO NOT SEND PRIVATE MESSAGES.

    --- MORE INFO HERE ---

    YOU CAN REACH ME AT BESPOKE FINANCE or MY TEAM AT 08009202001

    If someone want to sign up an American Express charge card, if can refer him/her and she/he will get more "points" signing on to the card.

    Amex Gold is free of charge for the first year, it offer travel insurance and a number of other Benefits.

    Message me with Name Family Name and email, so that I can refer via Amex and you (and I) will get extra points.

    ( ps: I have personally a Platinum, we then have a Gold for the business, and another Amex BA...great! )

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    I am the claimant in Malouf v MBNA...and due to overtrust have been fighting several issues in the past few years.

    I am presently trying to recuop 2 £1000 reservation deposits off my credit card providers in connection with Harlequin presentations I attended in 2008...fronted my Maria Davies!

    Due to the price of the units being on the reservation the credit card providers are saying it's over the £30k limit of section 75 redress...and also the processing agent was HIFX plc. On the reservation forms it clearly shows Harlequin account details at HIFX.

    I know it is misrepresentation because the 'specific unit' on one form is 6313 and on the 'contract' it is 6304...and on the other reservation form the 'specific unit' is not mentioned...and there is NO SITE MAP...because it was Marquis Estate.

    I am thinking of going to one of the Sunday personal finance columns....I am also trying to sort out another fraudulent misrepresentation....where Offplan Investments Ltd (used to be based Preston but now in receivership) sold flats that were way overvalued, and directed novice investors to their chosen mortgage brokers and solicitors (check out Wisemove and Tinklers via Google). If anyone has ANY info I'd be grateful, or even if I can get in touch with other 'survivors/victims' of Offplan, Dominic and Nicholas Coyne and Jonathan Tinkler the ex-directors. PM me if needed! Thanks
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    MoneySavingExpert have an excellent Guide to Section 75.

    They call it a "secret financial super-hero".


    Read the full MSE guide:

    Section 75 refunds

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    I bought a B&Q Boiler (NEVER AGAIN ) and it went wrong after 6 mths B*Q did not want to know ???

    I made a Claim and won for a  repayment

    If I buy something over £100 I put it o a CC

    great protection costs nothing to do

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    If I buy any Boiler now it goes on the credit card lol

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.