help with mbna debt please !!!!

[Potless1]

hi, i have a mbna credit card which amounts to £15k & i was made redundant 7 months ago in which time i have not made any payment due to my circumstances which i told them about & to be fair they were understanding, they called me a month or 2 ago saying that they would take a settlement figure of £4k & wipe off the £11k debt which i said i would try & somehow raise the money but unfortunately i have had no joy as yet, they called me a couple of weeks ago to see how i was getting on with raising the money & i said that i would need more time, they asked me to pay £240 to give me another month otherwise the debt would be sold on to a debt collector so i had to make the payment as i did not want the debt collectors on my back with the original payment of £15k, mbna rang me again this morning asking how i was getting on in finding the money which i said again i need more time as it is something i would love to do as it seems a good deal, they then said i would need to make another payment of £240 by the end of the month to keep the debt collectors away.

can anyone help me please, i am on £62 a week JSA & i cannot afford to p[ay £240 each month but i dont want the debt collectors asking for the full £15k when i could get away with paying just £4k if i could find the cash which is hard at the moment ! :-|

[chmai1]

hi i am in the same possition. but am getting confused with all the posts on here saying not to accept the partial payment. but i am thinking its ok. have been told on the phone that if its paid the account will be closed and they nor anyone will chase you for the ballance. but yes it does seem as if you have to pay the monthly amount to keep it alive.

[Potless1]

the partial payment sounds a bargain & they said the same that the account will be closed & you wont hear another word.

 

the thing that worries me is making the £240 monthly payment while im trying to beg, steal or borrow the money is also hard to find at the moment but as you say it must be paid to keep the debt collectors out of the way !

[silverfox1961]

Hi,

I personally think you're on a hiding to nothing. Unless you can get the cash together MBNA will sell your debt to a Debt collector.

 

can you say how long ago you took the card out?

 

I would send MBNA a CCA request.

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/20758-creditors-dcas-letter-templates.html#post162367

 

Send with a £1 postal order and send it recorded delivery

 

Do you know if there are charges applied to your account? If so you could SAR them instead.

 

If you do get the money together, make sure that MBNA agree that it's a F&F settlement and that they won't chase you or sell on the balance to a DCA.

 

fox

[GamekeeperToPoacher]

Hi guys/gals,

 

It is totally unacceptable under the OFT guidance on debt collection to suggest that you increase your borrowing in order to pay off a debt.

 

Robbing Peter to pay Paul is not an option.

 

My response is to suggest, as Silver says that you immediately CCA them and check your credit file as the CC has probably already defaulted you and messed up your credit rating.

 

Please do not speak to them EVER, work only in writing as you then have clear evidence should it go to court.

 

Also don't worry about the debt collectors - THEY ARE POWERLESS - they have very strict rules about what they can and can't do or say and you are a long way away from them even contemplating a visit.

 

There is also a further letter that you can send/combine with your CCA request which tells them clearly that you do not wish to speak to them or have a visit.

 

Provided that the credit card was opened earlier than April 2007, when the law changed, the debt is unenforceable without a correctly executed CCA

 

GKTP

(BTW my name is because I WAS, in a past life, a debt collector)

[Potless1]

it was opened in 2005ish !

 

so with this CCa i am going to ask them for, what happens if they dont send it ? or if they say they do not have it ?

this is the first time in my 50 years i have been out of work & i hate it, i hate people chasing me for money when i have a mortgage to pay, 2 teenage kids at school, cars to run & all i get is £62 a week with the future looking bleak !

 

also with the sttlement figure of £4k which wipes off £11k i presume if i do not keep the payment of £240 up to date each month & the debt does go to a debt collector then the settlement figure will be no longer & i will be liable for the full £15k + charges ?

[silverfox1961]

I'm not one to advocate debt avoidance but when a bank starts playing dirty by offering deals which you may not be able to go with and this then encourages you to get another loan to pay them, I think it's time to go back at them.

 

The CCA request will get back a copy of your agreement and if it's faulty in some way, the bank can't enforce a debt.

 

If during the life of the card, you have incurred charges, you could reclaim them to help reduce the balance.

 

If the bank sells the debt to a DCA(rather than pass it on to their in-house collectors) the DCA will pay between 10 and 20 percent for it and chase you for the entire debt(how fair is that?) and the bank will write off the debt against their tax liability.

 

As you are on the basic a human has to live on, MBNA should be getting £1 a month, no more. If they don't like it-tough.

 

 

fox

[tiokim]

you must moove this thread to legal issues now that you got a letter from Restons. place that letter here. Is very likely that you will get a court claim next. The same as me, same letter. alert the site team by clicking the triangle!!