Mbna Where Now

[Guest dvdriley]

Could anyone help me, please view my thread

 

http://www.consumeractiongroup.co.uk/forum/debt-collection-industry/155491-consumer-credit-agreements-my-2.html

[Guest dvdriley]

I,m getting mixed views on my credit agreement from MBNA credit card taken out online. Hope I am not hijacking but this seems to be for MBNA.

 

I would welcome another view as to whether this is enforecable or not.

 

4 pages all staples together. Please view:

http://i518.photobucket.com/albums/u348/dvdriley/mbna2creditagreement.jpg

http://i518.photobucket.com/albums/u348/dvdriley/mbna2tcpage1.jpg

http://i518.photobucket.com/albums/u348/dvdriley/mbna2tcpage2.jpg

http://i518.photobucket.com/albums/u348/dvdriley/mbna2tcpage3.jpg

http://i518.photobucket.com/albums/u348/dvdriley/mbna2tcpage4.jpg

[Hopeful1]

Hi dvdriley

 

I have looked at your documents and also at the comments on your other thread.

 

I agree that this looks enforceable as it is an online application you have made and it is also fairly recent.

 

Most MBNA threads have been about older accounts which are the ones that tend to be unenforceable.

 

Do you have many charges on this account? If so, i would certainly reclaim them. Let me know if you need a link to the Subject Access Request template.

 

Best wishes

[Guest dvdriley]

i would welcome the link please

[Hopeful1]

Here you are:

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/118145-r-subject-access-request.html

 

You need to send a £10 postal order and as always send recorded / special delivery, keeping all receipts. They have 40 days to comply. Do not put your signature on anything, just print it.

 

If they come back to you asking for a signature, i will post a link to a letter written by pt2537.

 

I'm off out now but will check back later to see if you have any other questions

[Guest dvdriley]

Please could someione check this agreement which is headed " applicatrion form" MBNA called 7 times within the last hour despite me sending them a harrassment letter.

 

 

http://i518.photobucket.com/albums/u348/dvdriley/mbnacreditagreement-2.jpg

http://i518.photobucket.com/albums/u348/dvdriley/mbnatcpage1.jpg

 

 

http://i518.photobucket.com/albums/u348/dvdriley/mbnatcpage2.jpg

 

http://i518.photobucket.com/albums/u348/dvdriley/mbnatcpage3.jpg

[palomino]

Had to double-check there! The spelling mistake is yours not theirs.

 

I can't read the forms very well as they're a bit fuzzy. It seems to me that that they haven't signed it themselves. In fact there doesn't seem anywhere for them to sign it. Since you have the pre-scanned copy maybe yours is a little bit clearer.

[Guest dvdriley]

I have 2 cards with MBNA. They have offered a 60% write off.

 

One CCA is unenforceable, the second one is enforcable, any advice

[42man]

Why don't you meet in the middle say 40% dvdriley ? it's a hell of a dilemma...!! (I presume you have it in writing !!)...you could also state that as they aren't enforceable (call bluff ?)....you would be happy to settle at 40% and default removal....!!

[Guest dvdriley]

Sorry?? They are goiung to write off 60%!!!! why offer 40%, think you misunderstood. yes i have it in writing

[42man]

apologies Riley....!! I think you get my drift though !!

[lol321]

When I was talking to someone at MBNA they said that they would go as low as 25% of the outstanding balance and give you 3 months to pay it by installments, although it wasn't in writing I did believe her

[Guest dvdriley]

i,m going to offer 25% payable over 24 months

[Rhia]

I think that is a very good result (60%) hope however they take your 25%.Make sure you get this confirmed in writing along with an agreement that MBNA will ensure your credit report is updated to reflect this settlement and a written agreement that this will not be passed on to a third party (i.e. DCA) for recovery EVER!

[Guest dvdriley]

MBNA will take £3000 as final settlement payable over 3 months on a debt of £13000 and they were polite

[42man]

Get it in writing....seems very good...

[mak71]

great result,

have they said they will put it in writing ?

can i be really nosey?how long has it taken from original dispute to get to this stage today

[Nearly Here]

What will they say on your Credit File?

[lol321]

Quality Result!

[Guest dvdriley]

they are confirming in writing and credit ref will show PARTIAL SETTLEMENT

[Mark Wilson]

Just to let you know, 2 years ago before I knew about all of this, I offered MBNA, £1300 to clear two accounts totalling £5400. They agreed the "short settlement" route stating that balance would show partially settled but that they would not chase the debt and then on month 60 would clear the balance. They were really good as my situation was dire at the time and having endured months of hassle, I was delighted at the compromise.

 

I essentially offered them £1000 and £300 on my 2 accounts and they agreed that it was best to draw a line and not have the endless chasing for nominal amounts.

 

My understanding is that in terms of default, once you are in this position with a creditor, they have allocated your full balance to bad debt provision so by making payment and having the debt taken off provision it actually benefits them (from an accounting perspective), hence the discounts you can get if you try.

[Guest dvdriley]

mak71.... 4 months

[MARTIN3030]

Just to let you know, 2 years ago before I knew about all of this, I offered MBNA, £1300 to clear two accounts totalling £5400. They agreed the "short settlement" route stating that balance would show partially settled but that they would not chase the debt and then on month 60 would clear the balance. They were really good as my situation was dire at the time and having endured months of hassle, I was delighted at the compromise.

 

I essentially offered them £1000 and £300 on my 2 accounts and they agreed that it was best to draw a line and not have the endless chasing for nominal amounts.

 

My understanding is that in terms of default, once you are in this position with a creditor, they have allocated your full balance to bad debt provision so by making payment and having the debt taken off provision it actually benefits them (from an accounting perspective), hence the discounts you can get if you try.

 

 

It benefits them alright-lets not forget they buy these debts for peanuts after the original creditor has wrote them down and claimed the tax.

[Guest dvdriley]

I have 2 credit cards with MBNA. One is enforceable and one is not.

 

In respect of the unenforceable one I have sent all the usual letters which they have ignored. Today I have received a letter from MBNA explaining nthat if they go to court they can obtain a charging order.

 

However they all grouped the total debt from both cards and listed it under one account number. That account number relates to the enforceable agrement.

 

What should I do. Any help please

[Guest dvdriley]

Help please