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I have recently been offered a short settlement on my two MBNA accounts. One was originally an MBNA account and one has been acquired by MBNA from SONY. The short settlement was attractive but more than I could afford and so they have agreed to reinstate a long running arrangement whereby I pay c£100 / month and do not apply interest and charges. I was broadly satisfied with this although £100 is a lot of money but this site has given me a new perspective.

 

It seems that the accounts may be unenforceable and also, I am sure that a large proportion of the balances would have been made up of charges etc.

 

What I am looking for here is a strategy. Should I start with a CCA request? I have not seen any evidence on this site of success, only of lots of (what looks like) well constructed legal argument.

 

Would I be better to go straight for SAR and claim back unfair charges? Would all goodwill evaporate and they start applying interest again (or worse, turn back the clock and apply interest retrospectively)?

 

Would I be better to let sleeping dogs lie and continue with the arrangement?

 

Help please.

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One question I would be asking if I were in your shoes would be 'why are they offering a short settlement?' Could it possibly be that the account is so old that there isn't an enforceable agreement in place?

 

There are two routes you could take, request a CCA which would cost £1 and they would have to provide you with a 'true copy' of your agreement within 12+2 days otherwise you could dispute the account and withold any future payment until an enforceable agreement is provided. The second is a SAR which would cost £10 and they would have 40 days to comply to your request. Not only would this contain the CCA but also a statement of any unfair charges which you could claim back.

 

Either one will do but MBNA will know your reasons and they are not a particulary easy company to deal with if they decide to dig their heels in, so you should be prepared for a fight.

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