MBNA getting desperate?

[Fred Bassett]

I've read a few threads on here tonight where apparently MBNA are offering 75% discount for people to pay off their debts. There is at least one thread that appears to have been infested by a troll but the others seems to be genuine.

 

Are MBNA getting desperate?

 

Regards to all.

 

Fred

[ScarletPimpernel]

MBNA have always been desperate. They are, perhaps, becoming more desperate, however - their share price seems to be steadily falling.

[sunflower99]

Trouble is even a big reduction of even 75% or more on an MBNA card debt though lovely i would still find it diifcult to even manage that if they wanted me to settle it all in a few months as not got much money comeing and not in a very well paid employment with husband with heart problem only on incapacity benefit.But they sound very good deals for people who could find the money quickly!

[Fred Bassett]

Trouble is even a big reduction of even 75% or more on an MBNA card debt though lovely i would still find it diifcult to even manage that if they wanted me to settle it all in a few months as not got much money comeing and not in a very well paid employment with husband with heart problem only on incapacity benefit.But they sound very good deals for people who could find the money quickly!

 

Sunflower,

 

I think the important thing here is that if they are offering such big discounts, why? Could it be that they don't have an enforceable agreement?

 

Regards.

 

Fred

[cashins]

I would be getting desperate as well if I had to explain to Bank of America why the agreements they churned out up to a few years are probably worth more as toilet paper.

 

David

 

PS: While I'm on, have we all got our 'Sorry to here about your redundancy', ready to send down to Brighton & Burgess Hill?

[ScarletPimpernel]

MBNA's agreements resemble Izal lavatory paper in terms of smearability, but lack the possibility of dual usage as tracing paper. In my case, MBNA's paper appeared to have been used already - it was covered in bullsh1t.

 

As the pressures upon the financial industry increase, and redundancies loom, I suspect that MBNA's loss will be MacDonald's gain. MacMoron, anyone?

[sunflower99]

Hi Fred!

Yes it does tend make you think that!i am sure they not doing it out of the goodness of their hearts!LOL

[Brassed off]

Quite a few of the DCAs try this trick of offering a percentage off the debt (usually after a CCA request has been sent). 9 times out of 10 it's because they don't have the CCA However, if they do have a valid CCA and you want to get shut of them, then if you do offer a full and final settlement, make sure you get them to agree to it first in writing and that they will mark your credit file as settled.

[blipvert]

I rang MBNA only last week for a full and final figure. Over they phone they offered 60% off as an opening offer.

[lol321]

When I spoke to them they offered my 25% off my outstanding over 3 months or 30% over 6 months, quite a good offer if you've got the cash and want rid of them

[tinkerbell20]

make sure agreement in writing (lol how ironic!!) and that money is paid to MBNA via a third party otherwise they have wriggle room to come after you for the rest...................

[Brassed off]

I rang MBNA only last week for a full and final figure. Over they phone they offered 60% off as an opening offer.

 

They would They'll have paid about 5% for the debt originally

 

make sure agreement in writing (lol how ironic!!) and that money is paid to MBNA via a third party otherwise they have wriggle room to come after you for the rest...................

 

As Tinkerbell says, get it in writing and don't talk to them over the 'phone - they'll lie through their teeth and then deny it later

[sunflower99]

I heard that you have to be careful doing any deals with MBNA or indeed any other DCA! as i found on other threads that when they offerto people to write a huge percentage of their debt off! the offer is often not as good as it seems! as though they reassure people that they will not pursue rest of debt! They are crafty and sell the rest of the debt onto a third party! It is a awful trick as the person thinks they have got MBNA of their backs and problem sorted then to realise to their horror that the rest of debt has been sold to another DCA and the nightmare starts again.What an underhand trick,So anyone contemplating doing a deal like this must make sure in writing that it is a Full And Final Settlement! and that there is a clause that makes sure that MBNA has no right and will not sell rest of Debt onto another DCA,I am countinually amazed at how my eyes have been openend to how deceptive and devious banks are and my opinion of banks has now completly changed,I know that even if by some miracle me and my OH ever get out of this nightmare of debt we will never trust a bank again!