I used to work at MBNA...

[angel_1]

hiya

 

just found this thread yesterday am totally intrigued

 

mbna sent final letter not heard a dicky bird from them since, expecting a default any day or will they just sell the debts on, or send the legal team in or do they wait a certain amount of weeks incase one would llike to complain to fos as they have now exhausted their complain system and will not correspond with me anymore

 

just my curiosity thats all, whats the likely action as the cca are not valid in my humble opinion and ive stopped paying,,,

 

many thanks , maz

[Fred Bassett]

Hello guest. If you're looking for help then you've come to the right place. If you're a thicko debt collector then go forth and multiply.

 

Fred

[AA99]

Hi ExMBNAstaff:)

 

I'm just wondering what the stance was on accepting reduced payments?

 

We've sent in a truthful I/E form (actually we've offered them more than we can afford), but to date they're flat refusing. We're about 4/5 months on now and no further. Are they ever likely to accept?

 

Cheers

 

Lexis:)

 

Lexis, check my post today AA99 v MBNA Acc.no.1 with their phone call to me today, regarding my offer of repayment to them, they are unbelievable and I will see them in court.

 

Hello guest. If you're looking for help then you've come to the right place. If you're a thicko debt collector then go forth and multiply.

 

Fred

 

 

Fred, isn't that what they call politely, sexually depart, my words to them today was take me to court and have £1 p.m. Cheeky (female dog) said we don't take people to court, we'll hand it over

[ExMBNAStaff]

Sorry, I've not replied sooner, my internet died on me last week, so haven't been online.

 

The way it works with reduced payments is, the monthly payments must work out at more than 0.8% of the total balance, otherwise it doesn't pay off your account within 10 years (legally, accounts with USA banks have to pay down within 10 years) if your offer is less than the 0.8% of the total balance each month. i.e. your balance is £10,000 and you're only offering £20 per month then they refer it to SXG (no one actually knows what this stands for) but this department will do all they can to try and get you to sell any assets and perform land registry searches to see if they can obtain a charging order on your property.

[ExMBNAStaff]

Hiya EXMBNA STAFF!Just a couple of questions for me and a friend....1. Why do MBNA send Virgin card accounts straight to a solicitor (Restons) as opposed to a DCA?.............................................................................................. 2. When MBNA default you/terminate the account, do they send a default notice as well as recording a default on your file? I had a default put on my credit file, however never rcvd a hard copy of the actual default from MBNA?!?!?!? ......Thanx......Pudst x x x x x

 

Hi Pudst,

 

1. Although MBNA service the Virgin credit card, Virgin are still very fussy about how their customers are dealt with (that's why all Virgin cards are Mastercards, because Virgin weren't happy with the service offered by Visa) Virgin will have stipulated that their accounts are referred to a specific company to recoup the payments.

 

2. When the account is 'charged off' (default) they will send a letter explaining who the account was sold to, the balance of the account when sold and the date it was sold. However, I have spoken to many customers who clain they have never received this letter. You should call them and ask for another copy of it to ensure it matches what they have reported to the CRA

[angel_1]

Sorry, I've not replied sooner, my internet died on me last week, so haven't been online.

 

The way it works with reduced payments is, the monthly payments must work out at more than 0.8% of the total balance, otherwise it doesn't pay off your account within 10 years (legally, accounts with USA banks have to pay down within 10 years) if your offer is less than the 0.8% of the total balance each month. i.e. your balance is £10,000 and you're only offering £20 per month then they refer it to SXG (no one actually knows what this stands for) but this department will do all they can to try and get you to sell any assets and perform land registry searches to see if they can obtain a charging order on your property.

 

 

hiya thanks for coming back to us

 

im sure you will reply to my earlier posting when you have time

 

im just thinking on your above reply, so in effect they will not worry about not having a proper executed agreement then ?

 

- will go straight for the charging order? i understand the love of charging orders but a ccj would have to first fail before the charging order became law, however, they would try this first before say selling thedebt on?

 

so how many months would you need not to pay them before you reckon they send a customer a default notice ie pay up arrears by a certain date or we will terminate the card?

 

just my few thoughts this morning, many thanks if you can help much apprecaited

 

MAZ8)

[Fred Bassett]

Hi Columbo,

 

If you are requesting copies of statements, they will charge you 4.95 for each one that is more than a month old, the Subject Access Request is slightly different so they dont charge as much. If you speak to someone on the phone they will try and charge you the 4.95 per statment, and will not be able to waive the fee, so you need to send your request for statements (make it very specific with which statements you want) to the Customer Advocates Office, PO Box 1004, Chester Business Park, Chester CH4 9WW. The Customer Advocates office does not take telephone calls, but they have to deal with every letter they receive.

 

The Subject Access Request costs £10 and they are legally obliged to send everything they hold on you, including copies of all statements. I'm afraid that is rather typical of MBNA to think that the law of the land doesn't apply in their case.

 

Fred

[lexis200]

but this department will do all they can to try and get you to sell any assets and perform land registry searches to see if they can obtain a charging order on your property.

Thanks Ex - I've never been happier that I don't have a house or any assets;) Never thought I'd say that!

 

I guess they'll just have to pass OH's account onto the next guy as we actually can't increase to this amount!

 

Either that or they'll take us to court to try and get more, in which case they'll end up with £1 a month, as we're killing ourselves in order to get payment offers above this - especially as 95% of our income is (sadly) benefits.

 

I just can't believe how ridiculously stubborn they are. I have another card with about 5 times the amount that OH has on this one, and they're taking less than 0.2 percent as that's clearly what the I/E form shows we can pay them!!

Edited December 3, 2008 by lexis200

[foolishgirl]

I just can't believe how ridiculously stubborn they are.

 

MBNA are not stubborn - just stupid. You only have to read the posts on this forum to realise that. :grin:

[Lilythepink]

Question to ExMBNA worker,

Charging orders on someone house. If when you took out the card you had no house, but have been a share in a property? can they still put a charging order on this, even though I am on a debt managment plan with Payplan.

I am only able to pay a token payment of £1.00 each t 13 debtors........

ta

[ExMBNAStaff]

Question to ExMBNA worker,

 

Charging orders on someone house. If when you took out the card you had no house, but have been a share in a property? can they still put a charging order on this, even though I am on a debt managment plan with Payplan.

I am only able to pay a token payment of £1.00 each t 13 debtors........

ta

 

Hi Lily,

 

It would depend on what you actually owned at the time of being in arrears. Is your name on the mortgage? Are MBNA threatening you with the charging order?

[ExMBNAStaff]

hiya thanks for coming back to us

 

im sure you will reply to my earlier posting when you have time

 

im just thinking on your above reply, so in effect they will not worry about not having a proper executed agreement then ?

 

- will go straight for the charging order? i understand the love of charging orders but a ccj would have to first fail before the charging order became law, however, they would try this first before say selling thedebt on?

 

so how many months would you need not to pay them before you reckon they send a customer a default notice ie pay up arrears by a certain date or we will terminate the card?

 

just my few thoughts this morning, many thanks if you can help much apprecaited

 

MAZ8)

 

Hi Maz,

 

Of course they would follow the correct procedure for obtaining a charging order. And yes, they would try this first before selling the debt on.

 

The default notice is sent when you hit 180 days arrears, if by month end at 180 days you have not paid up, most accounts are 'sold' to Debt Clear Recoveries. Which is a group of desks situated within MBNA Chester, it is part of MBNA and they have a PO Box address registered to Manchester. If you pay Debt Clear, you are paying MBNA. If Debt Clear haven't managed to secure a payment, they then sell the debt on to a DCA for around 10p for every £1.

[Lilythepink]

re charging orders.

 

I never secured any of my credit cards or loans on anything, because I didn't have anything, now I have a share in a house, which has been remortgaged to actually repair it..... No they haven't tried to put a charging order on the house, but I would like to be prepared for when they try:mad:

[angel_1]

not at present

Edited January 24, 2009 by angel_1

[Candylee]

Your very brave, as ex worker at MBNA. Without doubt they are a company which are happy to profiteer from the misery of others.

 

I have sent complaints to FOS and OFT. As such i suggest, Joe, you do the same if what you say is true!

[AA99]

Thanks Ex - I've never been happier that I don't have a house or any assets;) Never thought I'd say that!

 

I guess they'll just have to pass OH's account onto the next guy as we actually can't increase to this amount!

 

Either that or they'll take us to court to try and get more, in which case they'll end up with £1 a month, as we're killing ourselves in order to get payment offers above this - especially as 95% of our income is (sadly) benefits.

 

I just can't believe how ridiculously stubborn they are. I have another card with about 5 times the amount that OH has on this one, and they're taking less than 0.2 percent as that's clearly what the I/E form shows we can pay them!!

 

 

So, Ex, Lexis and I are in almost identical situations except my OH is going just about off his rocker, my question to you is if and when I let MBNA know that we are Income Support based tenants in a private rented property, are surviving on benefits only and we have no assetts, what is going to be the reaction? ps. defaulted SAR and no CCAs received yet after 4 months, all rude calls recorded????

 

Bring it on I say, what's your opinion?

[Ioio21/07]

Hi all, This charging order thing worries me. I thought you had to be in default of a CCJ before they could go for a CO?? If they have no cca, how could they get it to court anyway ??? In my case mbna have written to say they dont have an agreement with me on file, so where can they go in my case ?? Bit concerned about this, I hope someone can help.

Edited December 10, 2008 by Ioio21/07

[Lilythepink]

Whilst following this thread, I have a question to ask, why or why, if the credit card companies sell on the debt for 10 p in the £1.00 why on earth do they not let us settle with them for that amount???

[fleeced_by_rbos]

I am guessing that would set a precedent that they don't want. It is easier for them to pass on the debt knowing they get their money immediately and someone else can have the problem of chasing it.

 

Although when it bounces back and forth between them and the DCA due to a lack of enforceable CCA then it becomes even more trouble but probably not really any more than if they just continued to harass their customers and get nowhere.

[Lilythepink]

I wonder what the success rate of the dca's are, and surely the methods that they use are way out of date, and the more people join this forum and know their rights, the less successful they will be. I can see the lights eventually going out on them if they have nothing to threaten us with:smile:

[Ioio21/07]

Whilst following this thread, I have a question to ask, why or why, if the credit card companies sell on the debt for 10 p in the £1.00 why on earth do they not let us settle with them for that amount???

 

If you were a credit card company and you KNEW you had ten thousand unenforceable agreements, would`nt you sell the problem to someone else and let them deal with it !!!

[Mrsmancmonkey]

Picking up on your point fleeced_by_rbos or ExMBNAStaff I dont suppose you know whether the debt is actually passed back to the orginal creditor once the DCA acknowledges there is no CCA and MBNA buy it back or it just goes straight to someone else.

 

Just read this whole thread and it is very interesting.

 

I also noticed ExMBNAStaff that you mentioned that MBNA keep increasing APR rates to get rid of people who dont make them money. However my husbands in a predicament whereby they've increased his APR to a ridiclous level to a point whereby, what he was paying before is now only covering his minimum payment. Surely thats not getting rid of people but trapping them into a card and if increased further we would strongly consider going ahead with the non CCA route as we know they dont have one, surely thats not good business sense?

[fleeced_by_rbos]

Keeksta, I have no idea about the buy back of a debt, perhaps ExMBNA can answer that one.

 

I agree with you about the raising APR doesn't really get rid of people. They are doing it to those that have large balances that couldn't be simply cleared, especially those that only make minimum payments.

 

I used to have a rate of about 17% and paid either the minimum payment or much larger payments (often in addition to the direct debit) every month. I made the odd late payment (late by a couple of days but never defaulted) and MBNA did the old trick of lowering my rate as a promo and increasing my limit encouraging me to transfer balances to them and then sneakily without me realising hiked up the rate to mammoth proportions. They did this cycle of lowering and raising over the space of a few months without me noticing until I noticed that suddenly I had massive monthly payments that I could afford but which were only slightly higher than the interest being charged.

 

So I doubt MBNA are trying to get rid of customers, they seem hell bent on screwing the last penny out of every customer and get extremely stroppy and throw tantrums when they don't get what they want. IMO, they are legally sanctioned loan sharks and nothing else. They need their asses kicking big time as a lesson to all.

 

Rant over!

[AA99]

Picking up on your point fleeced_by_rbos or ExMBNAStaff I dont suppose you know whether the debt is actually passed back to the orginal creditor once the DCA acknowledges there is no CCA and MBNA buy it back or it just goes straight to someone else.

 

Just read this whole thread and it is very interesting.

 

I also noticed ExMBNAStaff that you mentioned that MBNA keep increasing APR rates to get rid of people who dont make them money. However my husbands in a predicament whereby they've increased his APR to a ridiclous level to a point whereby, what he was paying before is now only covering his minimum payment. Surely thats not getting rid of people but trapping them into a card and if increased further we would strongly consider going ahead with the non CCA route as we know they dont have one, surely thats not good business sense?

 

Hi Keeksta! OH and me are in a very similar boat to you but couldn't help noticing your signature. M&S have been great with me! Polite, courteous, CCA, interest frozen, token payment accepted. Had great telecon and confirmation follow-up letter this week with Mr Graham Officer, Customer Relations, Tel:0845 900 0900. Worth a try;)

[Goldlady]

M&S totally well behaved and polite to me too, still paying them token payment in spite of no CCA which I enquired about after setting up payment arrangement. It is all down to how they treat you IMO.