MBNA & Abbey cc, full and final settlement advice.

[susiemac77]

Hi KB

 

Like Jane said, its all automated. I got exactly the same email from "customer services", I was told to ignore it

 

I would do what I did and tell them its an ex gratia settlement because you're fed up dealing with it, tell them they have no possible need for you financial details and. tell them you want to settle and ask for a definate settlement agreement by email and that until you have that you have nothing else to say to them

[kb_ba1]

Thanks susiemac. I understand the automation system and to be honest even if they do default me my credit rating is screwed anyway so not sure it would make a whole lot of difference.

 

Ok then, think I will drop them another line stating my choice is the settlement offer not the reduced payment plan. That I will provide no further financial details as for a definate arrangement and get the money to them by the end of the month and hopefully I'll get a good nights sleep at the end of it.

 

Am just a bit worried about upsetting them and ruining any chance I may have... But will have a think of how I'm going to word the email later on tonight.

 

Thanks again!

[kb_ba1]

Would someone be willing to read over my email to MBNA before I send it? Not sure I should post it here or PM it for opinions. But as always any help/comments are very much appreciated!

[kb_ba1]

Okey dokey just going to post my reply and what you guys think. Chances are my it's a settlement or going bankrupt. I'd even struggle to pay reduced payments at them moment as I often run out of cash two weeks after getting paid. So basically I think it's this or nothing. Anyway, would love to hear what you think!

 

I am contacting you to ask why you need further financial information. As I have said I would like to go forward with a settlement, not reduced payments plan. I would like to receive a definite arrangement and can provide you with the funds of £4100 within 28days. This is an ex graita payment so you should have no need for my financial details.

 

A settlement is the way I wish to proceed and due to my current financial situation it’s likely I will need to go down the bankruptcy route. As a result MBNA would receive nothing, I do not want this to be the case. As I have said before I am not denying my debt and at least through a settlement the company still receives a payment.

 

Please provide me with a definite settlement via email or post and the funds will be paid to you.

[omega42]

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

[the_shadow]

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

 

Hmm three post's all about I&E's to MBNA to help MBNA make decisions... fraid I'm suspicious in nature...

 

S.

[kb_ba1]

Oh god, don't say that!

Haven't sent them any further info just another email... Now I'm REALLY starting to worry.

[kb_ba1]

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

 

and if that's the case why would they keep asking the total of my debts???

[omega42]

Hmm three post's all about I&E's to MBNA to help MBNA make decisions... fraid I'm suspicious in nature...

 

S.

 

 

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

[MisterV]

Really interesting thread, started reading earlier and was hoping youd have got a successful outcome with an acceptable F&F offer.

I owe approx 10k to MNBA and like a few people had a phone call some months ago where they were prepared to accept 4k, but would not accept it as F&F, but as partially settled. I declined this as I couldnt raise they money at the time anyway and was more optimistic in winning a court case over my CCA.

As time passes i become less optimistic and am more willing to go down the F&F route. For all the wrongdoing and underhand tactics these companies employ, are there any real success stories where people have gone into court and won? I dont want to be a pessimist but the reality is, chances of winning in court with a sympathetic judge appear to be slim.

[MisterV]

Should have said - im at the court stage now where i have to decide if im prepared to go to the wire and see who blinks first or try to negotiate a F&F.

[Jim Pike]

Hi kb_ba1

 

I have settled with mbna/A&L with a full & final that was classed as partial settlement, it was 25% of what I owed. not negotiated by myself, but a result of me ignoring all other letters of threats and offers of reduced settlement.

I then answered a call from one of their agents who didn't ask for money or income & expenditure etc, just pointed out to me that the account was about to default as they do in appx 6 months, he then sugested that I could pay a one off payment (which was actually 3 payments over 2 months) which would be classed as partially settled and result in a default on my credit file for 6 years but would show as balance £000.

Well my credit is stuffed anyway, so I was not concerned about the default.

Some people on these forums are saying that they might sell the remainder of the debt to DCA's Well the wording of their letters are not the best but if that was to happen do you not think the people that it happens to would scream and shout on these forums, cos I would.

In my case it all came about by not paying them anything and ignoring letters.

I have since received a similar letter ( allthough better worded ) from LLOYDS or rather their inhouse DCA's This one I have ignored as they are asking for too much I think about 40%, they have already told me they don't have a credit agreement ( bad luck for them ) but I may be prepared to make an offer when I have sorted out some of the others.

Total debt before partial settlement with mbna was hitting £60,000 so if I can reduce all or most by partial settlement of around 25/30% I will feel quite happy.

Hope you sort yours out kb_ba1

Good Luck

Jim

[Talbot]

wow jim 60k reduced to 25% good stuff, going through similar myself just waiting for the letter however didn't ask if they still default you but they obviously do. i read somewhere a cagger who was registered with experian sent them the partila settlement letter and they took off the bad credit rating. i will try to find the thread.

[Jim Pike]

Hi talbot,

Sorry my post was a bit misleading, the £60,000 is total debt spread accross 8 creditors. mbna was only £8k. what I meant to say is that I am hoping to pay them all off eventually at appx 25% of the debt, then I shall be happy.

I was really trying to illustrate that kb_ba1 shouldn't be making f & f offers but should wait until mbna makes the offer at a rate that kb_ba1 is happy with or can afford to pay.

Regards

Jim

[Talbot]

agreed, they weren't interested in any offers with me until they were ready to sell on.

[kb_ba1]

Thanks to Jim, Mister V and Talbot for your posts. Made for some interesting reading.

I'm just waiting to hear back from MBNA now and am hoping they will except my offer. It's no less than they would get if they sold the debt on so it's probably in their favour to settle with me.

I'll keep you all posted.

[kb_ba1]

Reply via email... Any thoughts before I send one back?

 

When discussing options of Short Settlements we need to know the total amount of Credits to whom you owe money too.

If I do not receive this information I can not move forward with the request of your offer for short settling this account, which would need to be agreed by my Director.

 

Thanks!

[susiemac77]

They didn't insist on that with me

 

Sorry but cant remember from earlier in your post, have the provided you with a credit agreement? Is you account in dispute

 

They hadnt provided me with any agreement and I reminded of them of that when I made my settlement offer and made it clear it was an ex gratia payment to make it go away, so think they havent got an agreement and where taking what they could get from me

[kb_ba1]

They have provided me with an 'agreement'. Not that I'm 100% it's enforcable but if it ever did reach court the judge would probably pass it. The account did end up in dispute but the threats etc. continued regardless of course!

 

Think I will just have to give them what they want and hope for the best.

[kb_ba1]

Have sent over details of my other debts, which thankfully are minimal in comparison. But I know they won't budge unless I give it to them. Just hoping they will still go for my offer. I'm starting to think they won't now...

[landy_alert]

Have sent over details of my other debts, which thankfully are minimal in comparison. But I know they won't budge unless I give it to them. Just hoping they will still go for my offer. I'm starting to think they won't now...

 

 

I'm keeping my fingers crossed that you get it sorted out very soon, kb_ba1:)

[kb_ba1]

Thanks landy. I've got my fingers and my toes and my legs crossed!

[kb_ba1]

Latest email states I should have a decision by the end of the day... It's going to be a long afternoon!

[allthebestintentions]

hi kb do you have an email address for mbna. im in the same boat and just trying to get a full and final offer accepted cheers and good luck

[kb_ba1]

hi kb do you have an email address for mbna. im in the same boat and just trying to get a full and final offer accepted cheers and good luck

 

Have sent you a PM