MBNA & Abbey cc, full and final settlement advice.

[kb_ba1]

Hi guys,

 

I've been having trouble with MBNA regarding my two credit card debts and am looking for advice on the likelihood of them excepting a Full and Final Settlement. I'm not holding my breath but any help or advice would be much appreciated.

 

Basically I have got myself to the point where I cannot meet the monthly repayments… I was very stupid and thought their 0% deals would help me repay other debts, which originally they did. However the interest has now increased to 27% for the Abbey account (held my MBNA) and almost 35% for the MBNA account. I now owe Abbey £7000 and MBNA £8700. However the interest on both accounts means I am paying something like £20 each off a month. I went to the CAB for advice; they rang MBNA/ABBEY on my behalf to ask if they would freeze my interest and charges. They refused.

 

After, weeks of sleepless nights, not eating, having my dose of antidepressants trebled due to having panic attacks and suicidal thoughts I’m at my wits end and don’t really know what to do. I have spoken to my partner (which nearly split us up) but haven’t been brave enough to tell him the whole story. He thinks I owe 8k not 16k odd. However, now the fury has died down he is looking into getting a loan for £8000. What are my chances of MBNA excepting this as a full and final Full and Final Settlement for both debts? Has anyone here had any success? Would getting a doctors note help my position? I don’t want to sound pathetic and wet, but this whole situation really has had a negative effect on my mental wellbeing.

 

Many thanks in advance.

[maroondevo52]

Hi, kb_ba1.

 

Sorry to read your story, how old are the accounts, are there charges you could claim back or have you thought about CCA' ing them.

 

Regards.

 

Scott.

[kb_ba1]

Hi, kb_ba1.

 

Sorry to read your story, how old are the accounts, are there charges you could claim back or have you thought about CCA' ing them.

 

Regards.

 

Scott.

 

Hi,

Thanks for your reply. I opened the accounts around 2002. I am considering trying to get back chrages. However, there aren't many as I've been able to pay it up until recently... I'd like to try a CCA, but the debt went over to Aegis (MBNA have since taken it back), so would this still be possible. I'm just worried about incurring more and more charges when I try to sort it out. Am I right in thinking a CCA blocks any action temporarily...? Have read so much here I'm a bit confused!

 

Thank you

[maroondevo52]

Hi,

 

They have 12 + 2 days to comply with your CCA request, after this time.

 

The absence of any relevant paperwork confirms that you are not liable for any debt to them, nor gives you any chance to evaluate whether any original agreement was ‘properly executed’.

 

A judge is not permitted to make any enforcement order unless the creditor can provide a true signed copy of the original credit agreement. This means that unless you can produce such an agreement, this alleged debt is not enforceable in law.

 

Any account you hold with them is now in legal dispute. Whilst the account remains in dispute, they are not permitted to ask for any payment, nor are you obliged to offer any payment to them. Furthermore, whilst the dispute remains, they are not entitled to charge any interest on the account, nor make any further charges to the account. Additionally, they are not entitled to register any information on this account with any credit reference agency.

 

To register information with a credit reference agency, they must have written consent from the customer to collate and share such information. This consent is given in the form of a signed credit agreement, so until they produce such an agreement, they may not do this.

 

The requirement for consent to share data is a clear requirement of the Data Protection Act 1998. any such attempts to share my data without your consent will be met with a complaint to the Information Commissioners Office

 

The time limits, which are laid down in the Consumer Credit (Prescribed Periods for Giving Information) Regulations 1983 are clear. They must supply an executed credit agreement within 12 + 2 working days of a proper CCA request. If they fail to comply with a legitimate request the account enters a default situation. If they continue to harrass you without complying with your original request their conduct shouldl be reported to the Office of Fair Trading, the Financial Ombudsman and Trading Standards. Any investigation undertaken by them may affect their ability to offer credit in the future.

 

To sum up, you will not be making any further payments until they provide you with the document you have requested. Whilst they remain in default of your request, they are not permitted to take any action against this account. This includes adding further charges and passing any information to the credit reference agencies.

 

Should they not have any signed credit agreement in relation to this alleged debt,they should confirm this in writing to you.

 

 

 

If they continue to harass you by telephone, they will also be in breach of the Communications Act (2003) s.127 and can report them to OFCOM, Trading Standards and The Office of Fair Trading, meaning that they mayl be liable to a substantial fine.

 

Regards.

 

Scott.

[kb_ba1]

Many thanks for your reply.

Will do the CCA and get it off in the post recorded tomorrow.

I'm really hoping they will except a FF Settlement... Not holding my breath, but I do hope so.

I have managed to make the phone calls stop at least. I sent a harassment letter after receiving near on 20 calls a day some days. So at least I can relax on that front for the moment.

So, shall I hold off making them an offer until the CCA is sorted?

Thank you.

[Needabreak]

Many thanks for your reply.

Will do the CCA and get it off in the post recorded tomorrow.

I'm really hoping they will except a FF Settlement... Not holding my breath, but I do hope so.

I have managed to make the phone calls stop at least. I sent a harassment letter after receiving near on 20 calls a day some days. So at least I can relax on that front for the moment.

So, shall I hold off making them an offer until the CCA is sorted?

Thank you.

 

Hi KB ba1,

 

Look it's a little early to be offering F&F at the moment. See what the CCA request brings etc and take advice from the long term caggers. But just if this helps, I have a £12K with MBNA and they have offered me F&F for just over £4K but said they would keep the default on my file for 6 years.

 

You may, or may not be in a better position, but at least by waiting for the results you will be better placed to make an informed decision. So relax for now.

 

Good luck

NAB

[kb_ba1]

Thanks for your advice. I think I'm just desperate to forget about it all so I can start living my life again and get a good night's sleep!

 

Ok, I've used a template letter for the CCA request. Be great if someone could check it before I send it off.

 

Re Account No:- xxxxxxxxx (Abbey)

& xxxxxxxxxxx (MBNA)

 

Dear Sir or Madam,

 

This letter is a formal request pursuant to s.77/78 of the Consumer Credit Act 1974. I require you to provide me with a true copy of the credit agreements relating to the above accounts, together with any other documentation the Act requires you to provide.

 

I expect you to comply fully and properly with this request, within the statutory time limit. You are reminded that should you fail to comply with my request, the provisions of s.77 will apply.

 

If it is your view that you are not the creditor, s.175 of the CCA 1974 applies in the case of a simple assignment, and places a duty upon you to pass this request to the creditor. In the case of an absolute assignment, you are a creditor as defined by s.189. If you contend that you purchased the rights but not the duties of any agreement, you are reminded that s.189 of the Act is clear that an assignment is of both rights and duties.

 

Your attention is drawn to ss.5(2), 3(b),6 and 7 of the Consumer Protection from Unfair Trading Regulations 2008 (CPUTR).

 

I enclose cheque for the sum of £1.00, which is the statutory fee. Note that these funds are not to be used for any other purpose.

 

If you are unable to comply fully and properly with this request, you should confirm this in writing at the earliest opportunity, and certainly within the statutory time limit for compliance, and return the fee.

 

I look forward to hearing from you.

 

Yours faithfully

[kb_ba1]

Sorry to nag. Is anyone able to confirm the above letter is what I need to send? If it is I'll post it in my lunch hour.

Thanks!

[42man]

Letter is fine (although if you are sending it to an original creditor as opposed to a debt collection agency who have 'bought' your debt then the paragraph which starts "if it is your view" can be omitted), remember to enclose a £1 postal order for each request, and send recorded delivery.... - keep us posted as/when/if you hear back...and do spend some time reading around these forums, you are amongst people who are / have been in similar situations as yourself !! I will also say that for all F & F offers it is crucial to get them all in writing.....it has been known that some debts were settled on the phone only to be chased again a few years down the line !!

[kb_ba1]

thank you for the feedback 42man. when the CAB spoke to both Aegis and MBNA we were told the debt is now back with MBNA (should I get that in writing?). So I'm guessing just send it to MBNA? Or wait for confirmation of where the debt is with.

 

Gosh, sorry. I've read so much on this forum but it's confusing when it's me!

[kb_ba1]

Well, just sent it off in the post so we shall see what it brings. Interestingly the CAB also requested copies so I'll be interested to see if the they match... I could post what I've had tonight if anyone would be willing to take a look or shall we wait and see what I receive this time around?

Thanks!

[kb_ba1]

Also... I'm off to the doc's again to see him about how I'm doing regarding my meds being increased due to the stress all of this is causing... Do yu think having a note of some kind from him will help my case? I did read a report published by MIND and they don't seem to care if you have mental health issues and from what I've read here, even if you are dying. Disgusting. I wonder how they sleep at night in those cases...

[kb_ba1]

I've just read NOT to sign your CCA request... Now I'm worried... Is this incase they forge my sig... I should have left it off or at least photocopied the letter I sent...

[maroondevo52]

Hi,

 

You should be OK, It's just to ensure no one can 'lift' your signature and put it on an agreement

 

Regards.

 

Scott.

[kb_ba1]

Ok... Here's the agreement I received from MBNA when I sent them the letter from the CAB. If someone could look over it that would be fab. Abbey one to follow... Just waiting to see what I get after the CCA request now...

Edited March 12, 2009 by kb_ba1

[kb_ba1]

And Abbey...

Edited March 12, 2009 by kb_ba1

[kb_ba1]

If some one could have a quick look at the above would be most appreciated. I have noticed the numbers on the front and back in the bottom left hand corners don't match. Seems most people on here find that...

[maroondevo52]

Hi,

 

The attachments are to small, can you enlage and post again.

 

Thanks.

 

Regards.

 

Scott

[kb_ba1]

Try this...

MBNA front:

MBNA_front picture by kb_ba1 - Photobucket

MBNA back:

MBNA_back picture by kb_ba1 - Photobucket

Abbey front:

Abbey_front picture by kb_ba1 - Photobucket

Abbey back:

Abbey_back picture by kb_ba1 - Photobucket

 

Hope they're easier to see.

 

Thanks

[silver1977]

subbing.

I'm in a similar boat to you kb ba with MBNA, so interested to see how this goes for you. You're in the right place for the advice you need.

[kb_ba1]

Well, hopefully we'll get somewhere silver1977! Fingers crossed eh?

 

I haven't been able to arrange with them to freeze interest or go on a reduced payment plan. It works out that my outgoing to them leave me with something like £80 to last the month. That's food shopping, bills everything! I get those letters saying call us we can help (yeah right, call us and we'll be rude and patronising more like). Then you get the letters saying 'we've tried to help you' blah, blah, blah.... It's driving me nuts!!!

 

This is why I'm hoping they may take a full and final settlement. But you know MBNA...

[kb_ba1]

If anyone could take a look at my scans on the previous page that would be great.

Thanks in advance

[kb_ba1]

*bump*

 

sorry... just want some advice...

[Needabreak]

*bump*

 

sorry... just want some advice...

 

Did they send you the additional sheet with the terms and conditions numbered 4-19 for each card?

 

If not, they have not complied with your request and are in default if the 12+2 days are up. They are supposed to send you a copy of your agreement including any documents referred to in the agreement.

 

I would write back stating that they have failed to supply every thing that you are entitled to and paid for and remind them the account remains in default until they have fully complied with your request.

 

if you don't want to send it recorded, get a free certificate of posting from the post office.

 

I'm not great at scouring agreements. I will ask on Consumer Credit Agreements thread if someone will look for you.

 

Needabreak

[kb_ba1]

Thanks needabreak. That was all I received... I will certainly write to them again stating they have not complied.

Why do these guys have to make it so hard for everyone?!

Also, just out of interest how long does the account stay in dispute? Is there a set time or is it until we reach some kind of result?

Thanks.