I dont have any debt but my mum did have a card with mbna and when she lost her job she asked me to deal with them for her, In the end I managed to get a settlement for her but it took months going back and forward asking for this and that that she didnt want to provide. In the end after I gave them what they wanted I got it sorted within a week. your right 3 posts about i&e's all to the same person that is talking about providing i&e in his post (what else you want me to post about????) I joined tis forum few years ago when mum was having problems and just came accross it again few wks ago. Most people here seem more interested in trying to make thinks as complacated as possible for people concerned The OP has been made an offer of settlement why try and complacate thinks and drag it out. My mum saved 3K buy taking their offer OP its my opion and from experence to deal with this as quickly as possible so you dont have to continue with them as a company but and the end of the day its ur decision. To shadow -- if you get suspisous at people whose opions differ from yours then maybe mbna isnt ur bigest problem in life

why not just give them your income expendure from what ur saying it clearly shows that u cant afford a payment arraingment to them so it will only cement the decision for them to settle the account. at this point they have probley already done a credit search so they will know what debts u have

This is the reason why they ask for the income /expendure. once it shows on it its more cost affective for them to settle the debt, then the quicker they will agree a settlemnt

I have some experence with this. They offer you a settlement figure because they are resigned to the fact that without you taking a settlement the debt will end up defaulting and they will sell it off at a signitive loss to themselves. If you have a debt of 10K and they offer you a 4K settlement they get back 40% of the debt, if on the other hand the account defaults and is then sold off to a debt collector they may only get 20% so its more cost affective for them to settle with you. From your point of view if you settle for 40% you save urself 6K because if your debt goes to a collection agency they will look for the full balence. There is a reason they ask you to mke a payment this month and next and then final payment within the 60 days. The account is close to default and any further payments missed will mean the account will default before the full settlemnt amount is in and therefor would b null and void, by making the paymetns you are covering the oldest missed payments and this prevents you from defaulting while coming up with the money. The letter they send you once you agree should say somethink like this will register on your credit file as a partial settlement for 6 years mbna will write off the remaining balance of which you will have no further responcibilty for and will not sell your debt to any third party hope this helps