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kayeebee

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  1. Another thing, if you come to an agreement, make sure you have it in writing, that you keep any records of payments you make, and that you keep to the agreement. Otherwise, they will re-start the process of bankrupting you.
  2. Forgot to say, you can phone up the court which has the county court judgement and ask if MFS Portfolio have been substituted for MBNA.
  3. Hi johnnyboyrevel Sorry to have given you such bad news, but I didn't want you to turn up at court and have to pay for the privilege of being thrashed by their counsel. From my personal experience with MBNA, Restons, and MFS Portfolio, who have been happy to provide false documentation to the court in my bankruptcy case (hence my application for annulment), I would not phone them, but rather make sure any communication is in writing. If they were to make you bankrupt, and give up the security, they will have to fight along with any other unsecured creditors for any equity in your home. Do you have any other charging orders on your property? - I believe they will have to be paid off, together with your mortgage, before unsecured creditors get a look in. There will also be the costs involved in the court case and the costs of the Official Receiver and the trustee. If you don't have much equity on your home and no other possessions of any value, and if you share the ownership of the property with any one else, there won't be anything for MFS Portfolio and pals to get their mucky little paws on. You could let them know that (if that is the case), which will give you a lot of negotiating power. I would also do a SAR on MFS Portfolio. Go carefully through all the info sent to you by MBNA and check if it is correct against the documents you have in your possession, such as the notice of default, and the notice of assignment. Be warned, it appears that MBNA can change their case management system retrospectively to suit themselves. This happened in my case but, fortunately, I have the original documentation. Given that MBNA has sold on the debt, even though they had security, you may find that there is something dodgy in their paperwork. Good luck
  4. Regarding who owns the debt, they will presumably have applied to the court for an order substituting MFS Portfolio as the claimant. They will have done this at a 'without notice' hearing (used to be called 'ex parte' hearing), so you wouldn't have been informed that it was taking place. However, the order from the court may well have said that you were to be informed once the substitution had taken place, but Restons and MFS Portfolio will have ignored that. It looks like they have waited for three years to pass since the granting of the charging order before taking any further action against you. I believe they are doing this because the courts have a three-year file destruction policy. Therefore you probably won't be able to check what documents they produced to the court when seeking a CCJ and charging order. You really need to be sure on what legal basis you are seeking a set aside of the CCJ and charging order. The credit agreement does not require your signature. Did you apply online?
  5. I was bankrupted by these this year and am now seeking an annulment. They will quite likely have targeted you as being someone who has equity in their property and who tends not to deal with important financial matters, just hoping that they will go away. That's why I was targeted. Carefully check the statutory demand. Does it say 'The creditor is willing, in the event of a bankruptcy order being made, to give up its security for the benefit of all of the bankrupt's creditors.' ? If it does, they mean business. Normally, a creditor can't bankrupt you if the debt is secured on your property. However, if they are certain that you have enough equity in your property to cover the debt and all the other costs of the bankruptcy, they will be willing to remove the security of the charging order in the event of a successful bankruptcy, and will include this clause on the statutory demand and on the bankruptcy petition. Insolvency Act 1986 269 Creditor with security. (1)A debt which is the debt, or one of the debts, in respect of which a creditor’s petition is presented need not be unsecured if either— (a)the petition contains a statement by the person having the right to enforce the security that he is willing, in the event of a bankruptcy order being made, to give up his security for the benefit of all the bankrupt’s creditors, or Also, the county court judgment supersedes Section 78 Consumer Credit Act 1974, so they will be able to plead that they don't have to provide documentation in response to your request. I strongly recommend you quickly come to some agreement with them before the 18 days are up. At the same time, if you have any inkling that there could be any problems with their paperwork, and if you are up for a bloody battle, I also suggest that you send a Subject Access Request (SAR) to both MBNA and MFS Portfolio to find out what documentation they actually have. I have found out lots of interesting things, such as a forged Notice of Default, no credit agreement, and question marks over who the debt was actually assigned to. Good luck
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