I defaulted on an MBNA Credit Card Debt in 2011.

It was sold to Link Financial in 2012.

It is showing on my credit file as owned by Link Financial.

I have been making a token payment monthly.

Reading the forums I see that settlement can possibly be made with a F&F.

I made a CCA request and received the signed loan agreement.

I made a SAR and reclaimed the charges back in 2011 before default (unable to work).

A family member has offered to gift me 25% of the total to settle it.

I want to check before I go ahead - am I doing the right thing looking at F&F ?

Should I proceed by making an offer to Link?

you're not

forget it

why line a fleecers pocket

it wont improve your credit rating

and will only be marked as a a partial settlement

the rest WILL be sold on and any other fleecers can come after the rest for upto 6yrs as you've ack'd the debt again.

is the debt defaulted.?

dx

Yes it is defaulted.

All references to a defaulted debt must be removed from your credit files after 6 years

has passed from date of default, whether paid off, paying now or not.

.

{the WHOLE ACCOUNT WILL VANISH, never to return}.

.

{however, this does not mean the debt itself is not still owed

consider a CCA request.}

.

This is so that someone who continues paying something

- even after 6 years from default

- should not be at a disadvantage to someone who pays nothing after default

and ends up with a clean file after 6 years.

.

NOTE: {the bracketed text is not ICO guideline but my advise]

............

you've already CCA'd

who said the CCA was enforceable?

I have not acknowledged the debt to Link, the payment is made to MBNA who as far as I know send it to Link.

Because when MBNA sold the debt I disputed that I was not given statutory notice and that part of the debt was unlawful fees so could not be sold, along with the lack of notice meant that my personal info and loan info should not have been passed to Link.

Ultimately MBNA did not resolve the complaint after many letters.

If there is no point once defaulted making an offer, is there anything that will change the negative info that goes on my credit rating monthly

Thank you for the info.

I did not know default record and account itself is removed from file after 6 years, I thought it was indefinite !

Does this mean Link will stop putting non payment markers every month?

monthly calendar markers do not hurt you.

yes ofcourse it will ALL VANISH..read my posts..

right so you've never sent link a CCA request?

did you get the notice of assignment?

what you hold is immaterial

its what LINK as the CREDITOR hold!!

Ah,

Yes I sent Link a CCA request, they provided a signed copy of loan agreement.

MBNA wrote stating they had assigned the debt to Link, Link also wrote stating MBNA had assigned the debt to them.

It seems there is no point making any partial offer to settle, so I should just carry on as I am, I can't raise the full amount !

so all seems legit

its very rare for a 2011 CCa to be un-en...

doesn't matter if you could raise the full amount

the default is till there.

go use the gift on a holiday

much better use!

how much is owing and how much do you pay?

Pay a fiver a month, total £14k !

Original CCA is from 2000 an MBNA document, it's two sides with an additional 8 sides marked MB/98 in bottom left corner of exh of the eight additional pages which I assume means MBNA 98.

The gift is only available to sort the loan, so no holiday - but you've just saved good people burning money and stopped the collectors inflating their undoubtedly huge profits..

scan up the CCA request to ONE PDF

follow the upload

sold a £14K debt

something wrong there

find it

Docs there.

Looking at it realise that its a mish mash of three different docs from three distinct years.

Some of the conditions are simply missing while others contradict one another.

Will read up on agreements tomorrow because exhausted from this today..

CCA all docs received from Link FINAL - Copy.compressed.pdf

98 set of T&C's mentions condition 8.8 on the agreement

there isn't one.

so they are NOT the correct original T&C's that came with the agreement.

page 2 of the PDF is NOT the back of the agreement

its the back of the old MBNA fold over card application form!

it mentions part 15 [wrongly that's nowt to do with holidays/charges]

and 9.1cash transaction int

and 14.1 cheques

neither right

sorry that's bog roll

and is a stitch up job from their filing cabinet.

Bogroll !

In shock, having read up the clarity on enforcability is murky, but essentially appears unenforceable.

Please correct me if I'm wrong ?

you've been cash cowed

how you ever thought that load of cut n paste was even remotely enforceable is beyond me.

Haha, guess you've heard the story of the baby elephant tied by a chain on its leg to a small post?

Is there any point me taking any action now at all?

pers i'd stop paying

stuff 'em

dx

Yes, agree.

I could send an unenforceable letter using a template.

Or just leave it in their court after stopping paying.

Any idea what their normal response is to either option and what, if anything I should do?

I would not be entering into pointless letter tennis

dx

Thank you for the good advice, will pay nowt and do nowt.

Will post update if anything to report.

sure

might get sticky

but keep us informed.